Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1865-11-10
Ghe 6ree Rress.
BURLINGTON
FRIDAY MOHEING nov. 10. 1866.
English c otton-Loan BondhOlders.
BURLINGTON

English { otton-Loan Bondholders.
The English rebel colombian bondholiers
make no progress in their hunt for funds
in the hands ui somebody, avaIll bic TO paw
interest on their claims. In reply to the in
Qulries of their Committee, Of Emile Erlanger
S Co, OF Paris-the mouse which was the
agent between the rebel fnanciers and those
who first took the bonds-they got answer
that neither funds ror property was in their
bands to pay with. All that they received
for the bonds was paid over "on the order
of the Confederate Government to ITS ac-
credited agent. They have asked for
money 10 pay interest with, but got none.
/ As 10 the contract between Emlle Erlanger
! Il Co and the government OF the Confeder-
/ ate States, which the committee had ex-
/ pressed a wish to see, it was a pirate con-
tract between the parties and could not be
shown The London House, which act d for
Emile Erlanger & Co., VIZ, Henry Schroeder
4 Co. say that they never saw the contract
inquired about, and do not feel at liberty TO
t Il what became of the money winch
came into their hands on account Of said
loan
There Joirg no money to be got on the
other side Of tie Atlantic the committee
bring forward tae opinion of lawyer,
Mr.. Fleming, which is that they ought to
get some ON this side. lie i
very sure that the secession of
the rebel States was legitimate transaction,
and the United States Government, having
conquered the Conicdcmcy-a legitimate 90
yernmcnt in lis opnion-is bound 10 pay its
debts TIE committee think there is some
comfort TO he got out Of Mr. Flcming's opi-
MON, but how they art to get the United
States Government to pay over the money,
they do not soe-they think best to calmly
G,rOH erents.' But they are sure that mas
much as the United States owes SO great debt
OF its own, the addition 10 1t OF this little cot
ton loan debt of the rebels would hardly be
iclt,-thcy are sure that either the United
S.ats Government or the several states
which made up theconloderacy must feel that
It will be 10 their honor, and profit too in
the long run, to pay off this cottOn-loan
debt which they say was plain business
transaction between these who paid the
money ana those who gave the bonds.
Under this hopeful aspect of affairs the
committee say they aIe rather surprised that |
bond holders are willing TO s,ll os they do.
at such very low rates. They wind up their /
report by the in;imaiion, that if the large I
bondholders IN influential positions, who now /
keep shady. would step out into the light /
and unite 5heIr influences, it would help /
the cause scnsibiy The account OF tine
meeting in the London News ends as follows:
a discussion followed the reading Of this op /
mon.
The CnARMAN moved that the report be re-
ceived and adopted
Mr. TAYLOR inquired what amount of stock /
was represented by those sitting in front of the
chairman.
Mr. MoRGAN-It is impossible for me to say.
but myself represent five hundred thousand
pounds Of the bonds.
Mr. G. TAyLoR-But we, very small body
here, may lie piedginr by our resolutions tine
great majority Of the holders who are altogether
unrepresentel.
Mr. GREEN thought. as the United States debt
was 50 large. that .Nr. Serard might add 10 II
ne CoDfsjerofe loan
Mr.. MoRGAS said they would not look to the
federal government, but to the late Confederate
States
Mr.. G. TAYLOR would formally move the adj
journment of the meeting TO some future day,
when, perhaps, others might be present to assist
the movement, who were not ashamed of being
holders Of Confederate bonds. For himself, he
aerer had any sympathy ieifh the South, and,
beng an enemy TO slavery, might be said to
have teen always hostile to their cause. He
had simply bought the bonds he held specu-
lation. lie had bought them rery cheap all
he gave FOR them being seven pounds and ten
shllings per hundred.
Ultimately the report was received. but not /
adopted, and the matter stands adjourned TO the
18Th of January next.