Despite the war, there is a burgeoning trade of gold for cotton from the rebel states. I directed Maj. Rawlins to issue General Orders No. 64.
“The attention of the major-general commanding having been called to the fact of persons in this district sympathizing with the rebellion, who have cotton for sale, refusing to receive the United States Treasury notes in payment therefor, or anything other than gold and silver which is paid them by speculators whose love of gain is greater than their love of country, and the gold and silver thus paid indirectly affording aid and comfort to the enemy, renders necessary the publication of the following orders:
“1st. From and after the 1st of August, 1862, gold and silver will not be paid within this district by speculators for the products of the rebel States. United States Treasury notes are a legal tender in all cases, and when refused the parties refusing them will be arrested, and such of their crops as are not actually required for the subsistence of their families, stock, &c., may be seized and sold by the nearest quartermaster for the benefit of whom it may concern.
“2d. Money so received will be accounted for by the officer receiving it on his next account current, and used for the benefit of Government, only to be paid to the owners of the crops sold on orders from authority above that of district commanders.
“3d. Any speculator paying out gold and silver in violation of this order will be arrested and sent North, and the property so purchased seized and turned over to the proper department for the benefit of the Government.
“4th. A strict enforcement of this order is enjoined upon all officers in this district.
“By command of Major General U. S. Grant:”