Letter from William H. Aspinwall to Salmon Portland Chase, April 18, 1863

Aspinwall to Salmon Portland Chase

London, April 18, 1863.

Sir, -- We beg leave to inform you that we have obtained a loan of £500,000, for the period of six months, from Messrs. Baring Brothers & Co., on the deposit of $4,000,000 of the 5-20 bonds handed us, and with the understanding that, in case of the issuing of letters of marque to cruise against British vessels, they shall have a right to claim a prompt reimbursement of their advance, by sale or otherwise, as you may elect. The existing agitation of the public mind, both in and out of Parliament, rendered this condition a sine quâ non, and we may safely express our doubt if any other house would have undertaken to make the loan; certainly none on terms so liberal. . . .

We wait impatiently the promised official statement of funded and floating debt, amount of currency notes, etc., and also of revenue from imports and from internal sources; they are much needed
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to remove the almost incredible misapprehensions which have been produced by false or undefined newspaper articles. . . .

Your obedient servants,

W. H. Aspinwall,

J. M. Forbes.