Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1863-04-17
CONFEDERATION

CClftsi doiii tiieoo L aeeA WI IL iSiSi CdOC
to the success Of the Confederate Loan.
Confederate bonds, bearing seven
per cent interest and convertible into
cotton at sixpence sterling per pound.
have been offered, to the amount of
FIFTEEN MILLION DOLLARS, in the mar
kets Of London, Paris, Amsterdam and
Frankfort, and after being in the mar
iket two days were subscribed for to
the amount Of more than FIFTEEN
MILLION POUNDS STERLING, being more
than SEVENTY FIVE MILLION DOLLARS.
and at premium as high as 5 IA
per cent.
This is a comment on the course of
European Diplomatists, by those seers
Of the political world, the stock-bro-
lSers and fnanciers of Europe, quite
in concert with what we might have
respected, and speaks plainly the SEN
timent Of the people Of Europe, as re-
CARDS the stability Of our young Con-
lfederacy. 1t is true that one English
journal suggests that it is only sym
pathizers who are buying these bonds,
and for the purpose Of donating this
amount to the success of the Confed-
eracy, which is simply absurd to say
the least, or why did they not contrib
ate this vast amount of fifty millions,
which was subscribed in England
alone, and apply it to the building OF
a Confederate Navy, which would
have secured the independence of the
Confederacy more speedily than in
any other way, and WOULD Rave
pleased these sympathizers exceeding
ly? No it is no such motive which
induces this immense subscription, but
a firm reliance in the safety Of the in
vestment. This is further evidenced
by the fact that had not the limit of
fifteen millions been fixed upon, and
that to be distributed among the mar
kets mentionedabove, that TWO, THREE
or FIVE HUNDRED MILLIONS, could
just as easily have been obtained.
Capital is the ruling element in the
old world and will ultimately decide
the course TO be pursued by it's govern
ments, but at the same time we must
prevent the success Of the enemy in
order to give it the opportunity Of ex-
ercising its full influence in our favor.
We append several extracts from late
European papers
From the Liverpool Post, March 2e1
Only yesterday one Of the most eminent
of our merchants declared he was commits
stoned from London to buy EGO, 900 Con-
federate bonds. Who shall say there is no
faith left in the earth after this. There
can be no doubt that capitalists are subscri-
bing with their eyes open. solely for the
benefit of their Southern proteges, in full
expectation that this will be only as other
Greek loans, to be paid when quite con-
venient 1t only remains for them to
drown self-sacriices by burning their bonds,
when they get them on the flags in Liver
pool, and in the centre Of The Royal Ex-
change. London. If, however. they are
seriously entering into this affair as COM
mercial speculation, VIC should not be sur
prised if they did the same thing on some
day on the principle of that enlightened
gathering of Irishmen who burned the
notes of certain county banker in order to
spite bin.
From the London Times City Article,
March %.
The demand for money at the bank and
in the open market was very active on Sat-
urday, (21st,) chiefly in consequence Of
the large amounts locked up in deposits
on the Confederate loan.
The Confederate loan touched 5 prnmi-
UNI in the morning. then it relapsed during
a short period to 4 premium, and closed at
q to S. premium. The aggregate of the
in London, Paris, Liverpool,
Frannlin, and Amsterdam, is about fifteen
millions of pounds sterling.
From the Lcndon Post, Government Or
GAM March 90.
x x x That the dream of establish
ing Confederacy independent of the Uni
ted States Government is not 80 chimerical
as Northern statesman and Northern Sena-
tors would have us believe, the negotiations
of this loan abundantly prove. There
must be many who believe that the South
ern Confederacy will not only establish its
independence, but will not repudiate It's
debt, or otherwise three millions of money
would not be lent. even on the substantial
security which is offered in the shape Of
cotton.
EXCITEMENT In PHILADELPHIA.