The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1866-10-25

1Em1 1p1Rs q ranNn0y 81
SRsnsfpohds azss besa sraaadaiiy fling ID
.he London market ever since the Philadel.
III. ..srnSm Am, 4 Cnassstioa. Tie pro-
aramme of that Convention indicated TO the
British, as il did 70 the world q large, the
entire equality Of traitors and patriots, and
tho frateru.l feeling which promised the as>
,nmpt;ou By tho National Gorernmsnt of ~
large . sum Of the Southern Rebel debt by
the National Government ~ would equal the
Northern loyal war debt Of the Government
Moreover the British argue that where
there is SO much embracing, arm,in,arm
promenading, and mutual blnbberins between
the supporters of johnson and the supporters
of JEFF. Davis, there will be community of
interest, as well as q sympathy Of Affection
between them, snd that they will all unite to
relieve the South of its present embarrass-
ments and dissresses.
Hence the Chairman of the Committee Of
British holders OF Rebel Bonds, in . recent
communication to the London Nacs, argues
the point as follows: 80 ~
tsOn the part of the committee, beg
leave to say that they have the greatest com
fdencs in the rebel promises topsy, provided
they we're permitted to do SO. They base
their confidence no. only on the information
they receive from the South, but likewise on
the testimony given BY Gen. Robert +. Lee
before the Reconstruction Committee ap
pointed by Congress-
II trust, sir, your sense of justice and fair
play will indnce you to publish this testimony.
may further add, that no political blunder
was ever committed by any statessnan who
had the restoration of the Union at heart a.
compelling the South to repudiase their debt,
and especially the paltry foreign debt Of
So. 400 600, for which cotton was hypptheca
ted. The result has been TO retArd the re-
turn ofprosperity to the South, and 70 amir
hilate their credit in Europe. Theyrequirsd,
and still require, money for the cultivation Of
their estates, to enable them to grow more
cotton, tobacco. sugar, and repair their rail.
ways. They offer any terms, but thai fatal
word repudianon, although forced on them,
has been the stumbling block to their obtaining
a shilling. The committee believe This fatal
word. SO far a. the cotton loan Is concerned,
is destined shortly to be hlotted out, and
then the money markets Of Europe will be
again for he promotion of Southern enter
prise, and renewed era Of. prosperity will
dawn. 1-s 5se&-
ION behalf of the Committee.
CIVILIAN N. MORGAN"
We trust that Congress and the loyal PEG,
pie of this country will effectually block this
game, by insisting unswervingly and eternal>
IL, if need be, on the Constitutional Amend
ment regulating the rebel debt as . condi-
ton precedent to any Rebel State resuming
lis privileges in the Union.
With the British capitalists, with the aris-
tocracy of the South and the entire ''ring' OF
Northern political spectators interested or
to be made interested in the success Of the
measure, it would not be three years after
the admission Of the rebel States till they
would secure an assumption of.he debt by
the Government on behalf of the South equal
TO- or at least one half al. large a. the present
war debt Of the Union.
They would commence, in Congress, with =
solid delegation Of Southern members, and q
large proportion of Northern Copperhead
members in favor of the measure. And il
would require but a score or so of the bread
and>butter stripe Of politicians in Congress to
secure majority for the scheme. Those who
would have the engineering Of the matter,
would De supplied with all possible applian
ces to influence the decision ofmembers, and
they would have billions of this debt, worth
less without the endorsement Of Congress. Il
butter the members vote. Exposed in such
sea OF corruption as Washington would be
come under such circumstances, enough
members might be obtained to secure its pas
sage and with Johnson, or Seward, or any
body like them, in the Presidential chair, tn
bill thus passed would become law.
At least the danger of such result is i'm
minent, and the peril of its sctual consum
nation might prove so overwhelmingly disas
trous to the people Of this country, in a.
their public and private interests, that Their
Is no sense in running any risk whatever
Let the people insist tenaciously and impers
lively on the adoption of the Constitution.
Amendment, prohibiting the assumption {
payment Of the Rebel debt, or paying f
slaves emancipated during the war, and IL
country is safe; otherwise the people are e.
posed to constant and never ending danger
having that debt saddled upon them by son
scheme of corruption in some unguard,
hour, in the near, or distant future.
As long as the holders of these Rel
Bonds have their hopes, the loyal people
the United States may well have their fea
Let these hopes and these fears be crush
and dissipated at once and forever by ,
adoption Of the Congressional Amendment
the Constitution.
WHAT BEAT THEH