The cotton loan, though fairly strong again because of Confederate governmental aid, was in fact a failure in its expected result of public support for the South; something must be done to offset that failure.

In Polish affairs France had drawn back; presumably Napoleon was again eager for some active effort.

Best of all, the military situation in America was thought to indicate Southern success; Grant's western campaign had come to a halt with the stubborn resistance of the great Mississippi stronghold at Vicksburg, while in Virginia, Lee, on May 2-3, had overwhelmingly defeated Hooker at Chancellorsville and was preparing, at last, a definite offensive campaign into Northern territory.

Lee's advance north did not begin until June 10, but his plan was early known in a select circle in England and much was expected of it.

The time seemed ripe, therefore, and the result was notification by Roebuck of a motion for the recognition of the Confederacy--first step the real purpose of which was to attempt that 'turning to the Tories' which had been advocated by Spence in January, but postponed on the advice of Gregory[1073].