The Norfolk post. [volume] (Norfolk, Va.) 1865-1866, 1865-09-21
THE CONFEDERATE COTTON LOAN.

few other Journals North and South,
which still cling to the dead carcass or
the rebellion, recently grew jubilant
over a decision made by the Vice-Chan-
cellor of England in a controversy about
some cotton, to which the United States
laid claim. The decision of the English
iurist was to the effect that the Conted-
crate Governmentwa a de facto govern
ment, and, when il ceased to exist, the
United States succeeded to it as its heir
at law, and as such was entitled to all
the property of whichthe rebellion died
possessed and having fallen heir to
tile property of the defunct, it is liable
for all the debts of the succession. ShyIi
lock was not in greater glee than were
these editors, as they exclaimed: "Oh,
wise Judge! A second Daniel! DC.
They considered the question settled,
and visions of cotton loan bonds, sud
denly reclaimed from w~aste-paper re-
ceptacles and neglected pigeon-holes,
visited the brains of these editors and
their English friend, who had been
sharp enough to invest their thousands
: in these securities when the prospects or
! the Confederacy were bright and glori-
Gus and all rosy-hued. They accepted
: the dicto of the English Judge rs set
| Ting the question. Nothing could be
) more legally correct and just thar that
the heir should assume the liabilities OF
| the estate and pay off its debts-and, al
they were its principal creditors, all they
= had to do was to present thtsir vouchers
the cotton bonds-to the Secretary Oh
r the United States Treasury and re-
ceive their par value in gold. But, alas!
h Secretary Seward takes a different Saew
D. of the question and, instead OF oelns
re satisfied with the presumptious op'nlol
of a sympathizing Judge, he consider
n it a national question, to be settled b,
ch the executive departments OF the wv
to governments and refuses to ack nowled,
IN the de .fdcto part of the business. u
ess right to the property of the rebel go
he ernment is not disputed by the Secret
lp- ry, but he begs to be excused from pa,
to ing the spendthrift's debts-esleciall
cir as those debts were contracted for tn
purpose of depriving our government {
,at its just rights to property of which
a had never been legally dispossesset
"a What a convenient thing it would be I
make the victorious belligel,ent pay th
nd expenses of the defeated party! I'll
m cotton bond holders---the editors of I'll
of London Times and their friends--mig
as we'll burn their useless paper r, for '
.oe assure them their claims will rolIy me
with ridicule and should a demand
70. payment be made, we willcertailaly pl
fer to fight it out. They cannot {
Sb- their money for these bonds unless tn
,ns are stronger than we are---and we knt
off. they are not. The following INTEREST,"
statement, and the accompanying CO
respondence, make very pleasa mt rea
ing matter, and we cannot help sniilii
at the misfortunes of our good friend
-, the British aristocracy and the BIRTHS
press, whose credulity has proved
IL disastrous to their pockets: I
the Many of the holders Of the rebel co
NV ton loan i'm England avoided the rece
md meeting in London, evidently for. fe
of an exposure of their Individual col
plicity in the rebellious transaction. /
the London journals. therefore seem
hat be at a loss to know who the hapl
ent spectators are, they WILDE enlighten'
pbt by the following list of some OF. the b
D. fish subjects who have thus investe
po with an estimate of the losses sustain'
by them respectively; - - i. ~ E, -
lnd Sir Henry de Hauebtop. Bart "a. .,s.,,.....,.... ESQ.,
Isaac Campbell Company, off, Jern,yn street,
Thomas Stirling Birbee, 50 Mansion House place
London, shIpowner.. ....t... I4o,'
APP The Marquis OF Bath
James Spence, Liverpool, correspondent Of tho
eV- Times tunder initialsp!.. SOY
ent Mr.. BesiStd n%ps.,,,.., .;ocI i.oi.r r;,o No. 4"
hat morton street, London go
T.; Messrs. Fernie: 30 30
III Alexander Collie and partners. -............... ny
do- Fleetwood, Patton, Wilson, II schaster, directors
" of union Bank, London dogeiher).. ~
be W. :; Lindsey 9oo
'lsn John Laird, NJ. p, Birkenhead. 70
bev NJ. b, sampson, city editor, 7imes.....'''.'''..',' ia no."
John Thaleus Delane, editor, Taes......,...". ~"
re Lady Georgiana Time (sister of Lord Westmore' . ~
set lsn Glii,i director Of Bank Of England. ....... 100
ro- D. Forbes Campbell, IS Dover street, Pieadiily, ooo
oot L%ndgn. co,t SO
:, Lord WhGrncife. =. = ~
1t W. II. Gregory, NJ.
os W. j. RidOut, proprietor London Morning f1sL'',.. ~
'H''f-
va | Lord campbell" '"'''''' ~
Lord ~
ers, Lord Richard Grosvenor~ -
Hon EVELYN Ashley, son of Lord Shaftesbury, and
anu private secretary to Lord Palmsrston. [
the Right Hon. William Eyrat, Great Western......... 2,
ing Total.
lem The attitude of the United Stat
ner- Government on the subject is plain
,bt set forth in the following official lette
lao MR.. SEWARD TO Mr.. ADAMS.
DEPARTMENT on STATE,
ioS' WASHINGTON, March Is, 1855.
Charles Francis Adams, Esq, &c:
on SIR-An impression is understood
rish prevail in Europe, especially among I
ava holders of the i%nsurgent loan, for viii
cotton was pledged as security, that
ohs the event of the restoration of peace
see this country this Government will
nth sumo the public debts of the insurger
pr certainly the particular debt refer