Confederate Cotton Loan Bond signed by John Slidell - 1863 dated £1000 British Pounds Bond - Confederate States of America

Cotton Loan Bond Erlanger. CR-119 B-159. Note: More margin on top, bottom, and right not shown. Cotton Loan Bond issued in Europe by J. Henry Schroder & Co. and Emilie Erlanger & Co. Tri-valued at: 1,000 Pounds Sterling-25,000 French Francs-40,000 pounds of cotton. The Confederate bonds were quite appealing because they were "cotton backed." They could be exchanged for New Orleans middling cotton at a rate of six pence sterling per pound, which was far better than the going rate in England at the time, which was over twenty pence per pound. However, there was a catch. The Confederate government promised to deliver this cotton to one of its ports only after peace had been made. During the war, the delivery had to be taken inland, and the recipient had to run the Union blockade to get the cotton out. These bonds were signed by John Slidell, a U.S. and Confederate diplomat whose seizure with James M. Mason precipitated the Trent Affair during the American Civil War. The bonds were printed on quality heavy watermarked paper and featured a very ornate engraving. They depict Liberty holding the Confederate "Stars and Bars," leaning on bales of cotton, and gazing across the sea. The bond also had nearly complete coupons at left and right, making it a popular and very important item, truly a classic!

John Slidell (1793 – July 9, 1871) was an American politician, lawyer, slaveholder, and businessman. Originally from New York, he later relocated to Louisiana, where he served as a U.S. Representative and Senator. In 1861, Slidell gained notoriety as one of two Confederate diplomats captured by the U.S. Navy from the British ship RMS Trent, an incident that sparked international tensions before his eventual release. He was also the older brother of Alexander Slidell Mackenzie, a U.S. naval officer.