Thanks Ken! Do you know if this flag survives in a private or public collection?

Here is another article about this flag from a Tennessee newspaper, the Athens Post, from May 24, 1861:

http://chroniclingamerica.loc.gov/lccn/sn84024443/1861-05-24/ed-1/seq-3/

I've included a transcript below (apologies in advance if this has already been posted to the message board in the past). I wonder if this article could help with the unit ID?

-Sebastian

Conasauga Volunteer Company

Cantrell’s X Roads, McMinn Co., Tenn., May 23d, 1861. Editor Athens Post: -Sir: One of the most imposing and interesting scenes transpired here today that was ever witnessed on the South side of the county, upon the presentation of a beautiful Flag, by the ladies (God bless them,) to Captain D. A. Cobb’s Conasauga Volunteer Company, just before their departure from their homes, wives, children and sweethearts, to the tented field. It caused many a big tear to involuntary run down the faces of the spectators-particularly when the warworn Captain, who had in his boyhood days (in the war of 1812) shouldered his knapsack and gun in defence of his county, declared that he was again ready and willing to defend the rights of the South to the death. By consultation the ladies, Miss E. A. Kimbrough presented the Banner, with the following address:

Brave Volunteers: Our country having become involved in a difficulty, which we believe cannot be otherwise settled than by the sword, and Tennessee being called on to aid in this great struggle for our liberty, we are proud to see so many brave men who are willing to forsake homes and families, with many dear friends, and enlist under the banner of the South to fight for liberty. And as a token of our high regard for this valiant Company, who have for their motto, “Liberty or Death,” the ladies of Conasauga Valley have purchased for you this beautiful Banner, and have imposed upon me the duty of presenting it to you, from which duty I would not dare to shrink. Though you may be outnumbered by the North, yet, if He who holds the destiny of nations in His own hands be for us, which we believe to be true, we will regain our liberties. Then, go forth, trusting not in your own strength, but in the God of battles, and He will lead you on to victory. And when you are battling under this Banner, and your courage would fail, look at it and think of the ladies who gave it to you-then never shrink from its colors, but go bravely on and protect them as long as you can raise your musket, and if any of you should fall under this Banner (but we trust you will not) we hope you may be permitted to enter the Gate of Heaven, where we hope to meet many of our forefathers who shed their blood for liberty.

Captain Cobb: In behalf of your lady friends, whose hearts beat with the proudest emotions and deepest sympathies for you, I now present to you and your Company of most chivalrous soldiers, this Silken Banner, with its triune colors and fields of red, white and blue-the only flag that now insures freedom of though and action to any people.

Soldiers: Be brave, and ever defend your country’s rights and that flag which your silver haired Captain now holds in his hand, and should his tremorous arm fall in the hour of conflict, some one of you rush to his post and triumph in victory, or, like him, bravely die; then others may bear him from his bed of glory and lay him down in the tomb, to rest forever from the clash of swords and the boom of cannon. In conclusion, I will just say that I hope you will soon conquer every invading foe, and return to your quiet homes in the sunny South and with us sing: The South, the South: O long may it be the home of the brave and the land of the free.

Captain Cobb responded: Miss E. A. Kimbrough: On behalf of the Conasauga Volunteer Company, I receive at your hands this Banner with considerable emotion. This patriotic testimonial of the generous impulse that prompted the hearts and hands that gave grace and beauty to its folds, truly excited me. Please accept the thanks of the Company for this unmistakable token of respect to the volunteer soldiers entering upon the conflict of arms. Allow me to assure you, fair lady, that until the last man of this Company shall have fallen in the strife of battle shall this Flag be lowered to our enemies. Once before in my life I have fought for my country, and I still feel the fire of patriotism burning in my bosom, and I hope, through the aid of kind Heaven, to return this Flag without stain, or die beneath its beautiful folds.