The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-05-02

that point They assure u.s. IN this regard
pose; because tksy believe that When their present
Claims against the States (neaning, as Is sup.
posed tho assumed claims OF the bondholders OF the
rebel cotton ioan) surrendered when the faint Of
Reputation meanng suppose, the failure of those
rebel bonds 10 be recognized and acknowledged by any
Competent national or political power Is cleared away
the O. edit Of the Southern States meaning under
stood he States lately involved in reheon in Europe
will be restored and that Of the federal States meaning,
as we UNDERSTAND the credit Of the United Staes) viii
be augmented. ' 20
Next by way Of showing us the uhfeasonableness Of
disaiowng their project, the committee state that II
thAs new enterprise do not surrender the aforesaid
claims and clear away the aforesaid faint Of reputation
s
the new enterprise must all continue to be sufferers by
the existing state Of affairs The Committee then again
ing apprehension that may bring this soupdness OF
Judgment In question, they proceed to this diff
H IN D o Declaring saa they Ss a. this matter
represent are largely the bonds OF the sew.
eral States North and South we'll those issued by
purchased the repudiated cotton bonds of the rebe
solely as commercial speculation in order TO obtain
seeRs Is they
at ZOO under the conviction that when peace should be
restored both would turn out to be profitable operations
Having made these frank explanations, the committee
recur to the subject Of the embarrassment first men
toned, declaring themselves with emphasis as follows--
We have TO add that supporting Southern credit II
. 'sssss e
%s $ s r
pudiation. -
Tho Committee then felicitae themselves with how
much reason must be mperectly known TO us upon the
great sum of their and tho superior wisdom
and ssgacty and patriotism Of their agent McHenry.
They say
deem alike fortunate for the States that Alone in
rebel population 10 the United states her an.ncs condo
%efs%Rsf 4. IN
IN an Or tiss
4 &c x;P "a he MsSg
and as far as we the holder. Of hs rebel
presented by him. f-
From the letter which was addressed by the committee
to the secretary Of the Treasury learn the Interesting
fact that the socaed were to authorize the
holders to claim from tho rebels who issued them pay
aftera treaty Of peace between the United States and
these rebels should BIO signed, and that the bonds 50
IS 900 900 We learn also the further fact that the
bondhoders regard the Secretary OF the Treasury
OF the ablest nanciers Of the present day and
OF business who knows the full value of credit
From the letter in which the committee addressed his
Excelency Governor Orr learn the further fact that
the Aforesaid bondholders have used every effort to OBJ
tain from Eranger Co. and other contractors OF the
late rebels some account Of their stewardship but that
all their efforts have been in vain.
This letter gives q further evidence of the scfupu
lous mpatalty Of the holders OF the rebel bonds They
declare that they holders also Of federal Northern
oa,c secures which they purchased,ht the same TIME
WIN her purchase OF thc repei bonds and which they
puichased upon the GOOD iath OF the government by
ns ~ ney were ana SO .uey declare
W say ~ iar no .lcy a,c concerneu tnere was no
pocai ieens Whatever IN that transaction They en-.
,orce .neI appcaon upon tue serious stcnucn o. ms
EAcenency 'ne u0vernor oy cxpressne 20 nun .nelf pc
,iel tIat tne % % h s5 -, uohos ~nisu
~. a n ny wy No.sneIn anu oyai
Ss, y, .nv Jou osl wiz w As va.usess as 'ho
h:h h s,S s, ~ a,e @
In;taa States arc not on rostorad ., ~. Ir IN,
.lso rsinstatea In their material nrosneri,v ' ~"
win Tie end therefore or nrsver,g' ,ho ,rrraho,,
I'D dsr,;ne md ra,,nre =, .ha s,cr. 81 ,ba
Stats ,ha rehs hordh older r,nosa n, ,h aaJ,,.an
,nara, ~ ,be So,,Inr, s,a a.. ~ i' " ''" A''N
pas,ina S,on, he rona which ,hs, hs,. h,,
.,a Ss mn, io n, soani ~i.oa my nav nus
hnndbodarr, ,oxs command thar ro,"n, o. ~ G,a
ar NV stating that thew arc NOT IN on ,he
or oy stating ss .ney ao pos assmeu 70 own ,oat we