By the trade through the lines, the people of Alabama secured more of the scarcer commodities than by the blockade-running. Much of the trade was carried on by firms in Mobile that had agents or branch houses in New Orleans. Three pounds of cotton were exchanged for one of bacon; army supplies, clothing, blankets, and medical stores were secured in exchange for cotton; salt was also a commodity much in demand. For three years, from 1862 to 1864, trade was quite brisk between the two cities, some of it under license by the Confederate Secretary of War, and some of it purely contraband. As long as Butler controlled New Orleans there was no trouble.[502] When General Canby went to New Orleans, he reported that English houses in Mobile were making contracts to export 200,000 bales of cotton _via_ New Orleans, and expected to realize $10,000,000 net profits. Canby was of the opinion that the cotton trade aided the Confederates. The character of the Treasury agents in charge of the cotton trade was bad; they were likely to do anything for gain. He stated on the authority of a New Orleans banker, who was the agent of a cotton speculator, that Confederate agents would come to New Orleans with United States legal tender notes and invest in sterling with him, drawing against cotton which was ostensibly purchased from "loyal" or foreign citizens.[503] The speculators would give information to the Confederates with regard to the movements of the Federals, in order that the Confederates might preserve cotton that would in an emergency be destroyed. The speculators would buy the cotton later. In 1864 a New York manufacturer testified that he had made contracts with firms in Selma, Montgomery, and Mobile to take pay for debts due him in cotton delivered through the lines at New Orleans. The price was $1.24 to $1.30 a pound in New York. Treasury agents made similar contracts for Alabama cotton to be delivered through New Orleans, Pensacola, or through the lines in Mississippi, Tennessee, and Georgia. One agent, H. A. Risley, made contracts with half a dozen persons for more than 350,000 bales of cotton, the bulk of which was to come from Alabama. Most of this, it is needless to say, was not delivered.[504] The Confederate officials tried to manage that only government cotton went out under the licenses from the War Department and that only necessary supplies were imported in exchange. But there was much abuse of the privilege and much private smuggling of cotton in 1864, through the Mississippi to New Orleans and the river; and on September 22, 1864, General Dick Taylor (at Selma) annulled all cotton export contracts in the Department of Alabama, Mississippi, and East Louisiana. However, he said, the Confederate authorities would purchase necessaries imported and would pay for them in cotton at 50 cents a pound. This cotton could then be carried beyond the lines. No luxuries were to be imported, under penalty of confiscation.[505]