I, p.

224).

I think Mr.Schmidt's errors are: (1) a mistake as to the time when recognition of the South was in governmental consideration.

He places it in midsummer, 1863, when in fact the danger had passed by January of that year.

(2) A mistake in placing cotton and wheat supply on a parity, since the former could not be obtained in quantity from _any_ source before 1864, while wheat, though coming from the United States, could have been obtained from interior Russia, as well as from the maritime provinces, in increased supply if Britain had been willing to pay the added price of inland transport.