The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-09-18
United States Liability for the Rebel

"A meeting OF the OOndhOldcrs OF the rebel loan
hed al the London Tavern the 4h consider their
altered position that the government Of the United
States has become the de government of the rebel
States, and II deemed oxpedent to appoint committee
20 protect their rights and and generally take
such st ps as might be thought advisable.
Admiral Wallace, having taken the chair Mr.. Cham
berain said they were met 10 consider their position
the holders OF this loan and also what value
OF He was not stockholder being merely the agent
OF persons who wished To have the matter considered
He thought II desirable that committee should be ap-
pointed TO Investigate the circumstances under which
the loan was contracted and what securities had been
given by those who brought forward tho loan.
They would inquire whether the agents had any money
ID tneI hanas TO be appiei in liquidation Of the loan
He would not give any opinion himself but he had high
authority fer stating thai the idiudual States
aAy ha,EJor PR pmto'ote amo'aa q the han he also
,oeu as morally, bound TO pay this loan The federal
States were one nation which conquered the Confederate
States another nation aud the former being now the de
fdc'o government of the latter he thought they were
bound TO pay the debts contracted by the Confederate
States 1t resulted from decson Of Vice Chancellor
Wood in recent that the federal government
liable.
After some discussion it agreed that committee
consisting OF the chairman Mr.. Chamberlain, and Mr.
Morgan, large bondhode should be appointed to act
and to report the result OF their action to meeting to be
held on the 18th Of next month
STRANGE RESULT OF THE MEErING-rHE SHARES
60 DOWN.
The bonds on the 5th declined per cent the pro-
ceedngs at the meeting aording little ground for hope
to the bOndhoders
SOME HOMELY ADVICE TO THE BONDHOLDERs
The London Star turns the meeting into ridcue, and
expresses it's doubts to the opinion Of the 'emnent
Queens COUNSEL which there referred to- As to
the proposal to send depuation President Johnson
1t offers P~nchs advice "to persons about to marry
DON'T
Mr.. johnson is stern man He has evidently belief
in wholesome discipline Mr.. Davis he has fast enough
and it is just possible that he may take view of the
British bondholders slightly different from what they
take OF themselves Mr.. Seward too hav ing narrow
y escaped death by the knife whose arm
cotton loan nrated through Richmond and Canada may
not very complasant and the story OF the little bell
and Fort Lafayette, If not otherwise worth much, will
have served some good purpose II il prevents dis
tressed bondholders from carrying the Joke too far
SUGGESTED ATTACHMENT OF REBEL PROPERTY
ABROAD.
tFrom the London Money Market Review
Confederate bonds have for some time been reduced
TO their mere value lottery ticket They stand
at price Of . single years dividend We feared, and
often fOrewarned when not very long ago. they stood
at &c. that vory sharp reaction the cards But
We gained little credence then. The public however,
much saugune time are perhaps little too de-
spending now Thor judgment seems to have run from
one extreme 10 another This is not perhaps, unusual
or course ID quite understand that there end
the Confederate loan as q regular dividend paying stock
But, nevertheless there two questions still 10 be
solved In the first place, thcre is reason 20 believe
that the sudden fall OF the Confederate government
chich had from frs {, iaa been dependent financial
retafons NTH Exrpe did not leave their agents bare Of
crtan funds and resources on this side the Atlantic
well az OF properly in America already consigned to the
Confederate bondholders
hos, therefore, BE- ascertained what this proper
Vnrst that in Europe, and secondly that in America
amounts TOT ~ whether IL be attached and re-
claimed for tSoihsdeYs In se second place. it has
TO be considered whether financial and political consid-
erntions In Asnorlca itself will elicit any to
tho bondhoId0rx such not TO DO claimed in law
The former OF these Is legal the latter moral
tica question Az regards the former question there
Is reason To expect that statement may be mado
as o the value and to the c0nsgnees Of the Conedcr
ate state property alleged 70 exist in France and Eng
land II we correctly Informed, this is likely be
accompanied by the opinions Of English barrsters aud
French dpocot as to the feasibility OF its attachment
the two countries by their respective municipal laws.
recent Judgment in the matter Of Confederate State
ton, by Vice Chancellor Page Wood, Is
thought also 10 lend color % this view,
so far as our own country is concerned.
With respect TO America there little doubt that pro-
perty belonging to the bondhoders has been seized 90
considerable extent; and American jurIs will have TO
advise as to the prospect OF litigation before the Judges
OF the Supreme Court Of the United States who doubt
will deal with the law as they find IT, and will not make
1t for the occasion In turning to the second question,
one OF the available arguments in favor of eventual
recognition, rather compromise OF this stock,
upon the fact Of the credit of the southern Saie being
involved in It, These States have borrowed already, and
They want money for broken bridges railways torn up,
loan made Tor their benefit; and when they next
come into the English Market they may lind that beg
gars be chooscrs; that they want new loans
they must listen to reasonable terms from for a
promise of their last engagement II IL said that some
legal question not unlikely 10 be raised with regard
the thirty per cent representing the difference between
the contract and floating price Of the Confederate loan