The Nashville daily union. [volume] (Nashville, Tenn.) 1862-1866, 1865-11-08
WEDNESDAY, NOVEMBER s. lse.
NJ REBEL COTTON Loan

The holders Of the rebel cotton lean held
an adjourned nesting in London OF the
18th Of October, for the purpose Of hearing
the revert Of the committee appointed oH
the sth Of September. The committee re-
,,ortsd the amount Of the bonds in eircula-
ton Al f2,4Isyo 00. They stated also that
4hey hsye sbofght it their duty TO ascertain
precisely the legal status Of the holders Of
bebopds. and had submitted The matter to
Blr. Fleming, Queens Counsel, who Fes re-
ous.tss 10 t.5nsiidsr the rights snd disabilities
ofthe contractors and agents Of the loan,
and whether ssy and what means could be
sdoptsd 10 fierce them 70 disclose what
fonds. If any. they had on hand belonging
20 the late government and 10 compel their
application in part liquidation q the claims
q he bondholders. ~
M. Fiemng gave . long and elaborate
opinion. entering fully Ito the doctrine Of
state rights, and arguing that il the Conied
crate states had not lost their exisienes IS
.udependent states before the contraction
u she losn, and he thinks not, there is no
ground On which the original validity can
Be successfully called in question. II his
yi.v Is correct then the United States, hav-
ink taken the property Of the Confederate
s.stes subject 70 the charge Of the loan, that
which has become the property Of the Uni
ted staies continues liable to the charge.
He has ne doubt that If the contractor has
any property or funds forwarded by The
Confederate government 10 meet any liabil-
ities on aceount OF the loan, that the con
tractor is liable to the Contributors, and that
i would bepruaent tc ale bin IN equity
against the contractor.
% his opinion the committee remark
thai ths opinion q Mr.. Fleming on ths case
leaves no doubt that sosner OF later shs
United ststes, OF the states which formed
the confederation, viii recognize and pay
the loan
The report Wa received, but not adopted
IN the course Of desultory conversation &
which il gave rise, Mr.. G. Taylor said h'
hsd purchased The bonds he held a. q tpecu-
lstion, cheap q Q be gave ior them wac sew.
en- pounds ten shilliDgs per hundred. Al
the present time he thought il best 70 keeI
shady on the subject Of payment, 70 lesv.
The Northern States alone until the sor,
place was healed over, and at the proper
time press she claim. .
Dir Morgan confessed that he I" repre-
scented" i've hundred Thousand dollars o
the bonds. M. Green complained "thar
these Who are most interested in the mattel
think il imprudeut to show themsslves q
Coniedersie psrtisans, much less TO allow
their names 70 Be Published" Mr.. Cham
hsrlain sddod, that Gin consequence Of th'
publication Of the list Of supposed subscrib
era 10 this loan, he should NOT be surprises
if, on the next occasion, they bad even
smaller meeting than the present.
seems somewhat extraordinary tina
there should be that fear ainongs
he public Of being supposed q
De- holders OF Confederate bonds" Here
upon Mr.. sebay remarked that he "wOul,
M have been present but that he did no
wish his absence 10 be attributed TO stat
Of fohk.' On the last occasion Mr.. chsmber
lain told them that he Was acting for ssvera
persons o. iaGpeRoc who were not thei
ready to come forward, but might probab,
DO 20 al 8 later period. They were not
however, in attendance, and he presea
meeting was Iauch more thinly attended
than the Last. lie was much Interested IL
The question as q large holder"
Mr. Chamberlain finally said "The re.
rulsion OF the hostile feeling in the North
srn towards the Southern States was grow
ing enormously, and be anticipated that IA
short time The feeling here also would b
80 much changed that gentlemen would No
l1uger b. ashamed 10 acknowledge that
they were holders Of the Confederate bonds
he could give them aamos that tro,lld aston
"a iita Of large holders Of fhis stoek-Per-
sons Of the highest and most respectable
standing, but who would not at present
allow themselves 10 Be mentioned in con-
H-ctou with H."
Finally the meeting adjourned TO The 18th
oi January next
The idea that the United slstes viii recog-
ui.e and pay the loan is amusing. If the
holders esu live on thst hope alone, they
viii never die.