New-York tribune., 1866-05-02
TNE ANGLO-REBEL COTTON LOAN.
Emportant Letter from Secretary Seward
10 Secretary McCullOCh'
PROPOSITIONS from Rebel BOndhOlders in
England.
bel BOndholders in
REIMBURSEMENT ASKED FOR.
MR. SEWARD'S OBJECTIONS.
wAsur> aroS. Tuesday. MOy /, 1866.


S.ac to whom it was referred, as fonows
DgrARr.FSr or STATE WASHINGTON April -. 1856
To %, BSi9roj hUGH M2sULtocH Seeray Of h Treasury
~ers which you submitted to me relating TO the late
ii-b. .oao. ard which are as follows ,,, A., ~,
T,f commu,i icaton which is addressed TO the Presi
AZ ana which the date Of London the 10Th of March
10 Ina si1ed by orier OF Sir Provo wallis Il e. d. =
N,r,1p s.erstiy: Fra lis Phillips c. NJ 1. Weston. W
n M,rran and i. Harvey a.
S'-,rd, comwuuicslion Of tie date addressed to
H EScney James l. Orr Governor Of The Stse Of South
Csnl and sgued by the same parties in the same form
Tfrds Communication bearing the same date signed by
e same parties and addressed 10 the Hon hugh MeCuHocn
secretary Of the Treasury ,,.,,...- ..so.
ale Of April 10 1855 addressed to the Hon Hugh MeCuooh
United States Secretary OF the Treasury.
Ir1ry develops for the consideration Of this Government
Ran wcb De ne has proposed to the aforementioned
Iommee aBd which they have accepted This plan that
"a, ned Government shall furnish to that Committee
copy the contract which lie made between Er.
LANCER Company Paris and the late Rebel conspiracy
Richmond together with the part of tie settlement OF
lie saae which contract and Investment Mcenry assumes
,uai among the documents of that traoroas
Spacy which have come into tie possession Of this Govern
When e oapers indicated shall have been delivered to
u Csani.tee Of 6e bonlhoders in London then The Com.
iio promise that the outstanding Rebel cotton loan bonds
sa De delivered up TO the agents Of the United States for
Q Tie aforementioned bondholaers shall waive anr right or
claim they msy have under the Of England any
tIt o. z e h2ls o. the former ae ents Of the last traitor
Gus ccEsPiaty az Mchmond.
Thcsaa bondboieIs shall guaranty that either they or
crea,s BY the and tobacco (ghat particular
ss, aFe i2eat not more distinctly explained for sO0O
90 at per cttum payable London money be used
sooi iedsyeioiinr tie resources q these States
IN the went Of e credit Of the southern States being
stored through tie influence Of the last named operation.
sclnd loan o sO 90 to be taken AT 60 per eenium within
tses uonAs after the placing Of the first loan upon the
u the event of such second being successful then
loan ~ fOOooO TO be taken. st 10 per eentum aiter Ike
George MeHe' argue, in support Of this scheme fol-
T6u. Son,sr win receive Re oooo09 at q
81. cent IN sterling eguvaient to about ~ IL Federal currency
~ 5 ,si IN Europe and not be liable s Federal securities
(,qad ere ~ 10
MY plan" Nh. MciieHy says ~" carried ont would no
ds5s elevate the credit Of the several Soe.hsn state ana q.
e sfe lime remove any excuse the Sonse'ste sssn my nave
2 ao S if ra,,e % sse. -'-
According to Mr. McHenry the tondhoders aege that
they purchased their bonds Mesrs Eanger Company
uaie presentations they the bondhoders nave chance
OF recovering something from that house II they opah copies
Of the contract with part culars Of settlement
Then Mr.. Mchenry adds:
some assF w s 9 8, munlp 10 i in h foadon @ o.
ts, sn5 wns y pt ys even Fand vii not sSend her sy.iem
of rTire bress 10 tho.s states condition Of sfas
- % e-psTisnce as hsve been enaesvorns
months TO throw capital into the southern STAT es N oaeI 70
toa b NY friends in Lancashire to ssqees in my us
sr as block That difficulty removed all will work
M NcIenrv closes his first the Secretary Of the
IIeasiy with the that bis aTTangeents are sGc1
that e public credit Of the South be restored be vii pc eDe
tc borrow ~ he various Southern railroads. fair terms as
muck Eoney u Europe as they usy neea c..a - .,o
Treasury that committee Of bondholders banded
Or AcHenry printed matter 10 present TO the
Ssrarr which he Aclienry finds examination con
tsjns m ooinon OF the English counsel Rebel bond
hTe that the United States Government Is responsible icT
Nj MsHeury states hai he does wish to enter upon
kst p5at aud therefore he retains the printed matter
seeks prepare the for gaining tue o. ne
Tnc1 GovcThment by declaring tat ne mas no
these boais; that he advised tue bondhoiders to
aban eli aim upon United States and upon any properly
S a . or me- eaS for the bonds He declares that ae
tondhlers had dealings with TIE ConeueiAte
that BE Transaction vas conducted by certain ifs ce
hessi Senoa.s : - ~ be S'onfeIersfe overnnent thar
70 a1nffeY n
i siato they DO feel at liberty 70 give the BOND
ffeT ssg OF q Confederate GOV ernment themselves
He ADDS There rEmoT prevalent that az ne date oi ha
letter M,srs. EaDger Co. ed owe Ae Coneteals 1Gs
rnmeas considerable Of money out that they settled
with q tge gnts o & he % s II about ss
Ysnce end Which be aorward sold at about the same rae
Ne p-ocee1s 10 sce rther that Ne manrer IN when the
exagcuia aced has IN no way tended 20 strengthen Vt
esysse hieh are made by the English Com
ifr o FOLDERS Rebel bonds in the papers Waich
McIear, submits in ther behalf may be briefly ree''ed as
The applicants inform The President thsi biz PsiIioie aad
sy tosarl the Soutbern states OF tie inoul
hes ~ itcd uir1on in England Taey especially eai MS
,tter, 10 ts iA which this administration IS nus
trstei ~ 4 ac lat they who have been deeply inued
have s ess nov favored hin with their correspondence
tat ia this pnrdelc, Ihey t ana ev
nrge h perseyeTc N every manner IN order 70 "eeOD
rss ftei az they represent large financial interest in
Fael8nf b wlou, te when or where they 50 repre-
sent tat interest y sss tbsy ey represent the
m purchasers Of the cotton bonds when were i.sled
win tss southern States latey eonfsderated 49,
Wi,lgi explaining OF dwelling upon tAe pJries ml,.ol
c,, t. leave ile settlement O! tAe c9ina Of thes
eats s Rebel cotton bondholdcTs 10 the inagnaniuiy
o. w. s risrify sub lmitted themselves the justice
Of the aitel sties iley proceed 10 new and distinct
Sor- desire tscy say now is assist The Southern
gs, Win cnita iog tie express purpose q rcieyelopns
tie rcucoa o. tess States and th1s promoting the pros
parity OF ell tie Uaitca sia'os' IL. s,.o,,.oo,,
Thsy scrt Dreson Presidents notice dscelIaging
enb,r, which they 10 yielding to ne desire
sey have expressed Ins dlmcu'! j. S-".ou ID 'Ne
blow g words ,,, -., ,,,.sa n,
we he,'lis ~ " ts.ns i- ~ A. ts present time owing
a m no r1s-k ve fJr sy loin made 70 hos@ s.sies We
sst OR ene h iusry end ~ The faue prosperity o NE
sou,hfEn spes sAd q course o. 4s Oset -. , a,or.v 10
proan5ts te- s.TieatHrsl iH'er"sts. ,,,. ,,s
TIE COmi.sce tsea PROCEEDED 70 nnioia tls tese % %
itAsy adopted for carrying into ehsct t DsAs
pose TIE unfortunate purchasers oil the ieos evo' AMY
FSwe.sre reoaeed ,4 MeIenry oa tie Governor. q ,
ss-ver states higher iO new loan ar ~. % IVA
The COMMITTEES assume, and yef} Jify htl ins
erraordinaJv mlicence which they ius propose 70
prove iior 10 themselves They. Therefore proceed to
quiet spprebcrson on that point Ihei assure Is h n'
fegar fhs, thoy iee warranted ~ doing wnai Trey propose
tecau. they believe that WheD ther present cas as.inS
toe States acasng y supposed ne essaea s'als % ~
bondhocrs o liz sb cotton Oas ere shTeAuele1 "AeH
ths taf of repnSatijn fuesnuC We suppose te i4llr
q thoe Rebel bonds 20 recognized and ecsnowledged py
sy segs1 @ ~ sos,ssr Or os ,ssnia Sa ~ n understood
tLe s;a.cs lsey igyoysd D. Rebsionl ~ EUROPE WI g
steI ana tbat ol The Federe (neanng a. We haeI
aud tie credit o. TIE United States Wal be Gaglenied
kox oy way Oi showing as ne 1breasoh.o.' 80 =. I
aoyi9s thef pIoje 'li Sonl.'es M s , ~ new erte.
shsh be- ooaf tia. - n tley co nyl s4sI! ou 80, ,f
Prise suirelde. the Aforesaid cams aA9 eal sn "
etorcs'd aini Of repedia, Jon pom tns sors s,e,ee
State EpfcIn then tAc J1iicd stts., tls >,
end tn protectors the enterprise must a cnAne !"
tSsn again revert nuhfeense Of their cr and under
ssemHg TeAelsOn iat ay OfiAg tef solHeAe O J.k