The national Republican., 1866-11-21

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WEDNESDAY MORNING HNovxMBsk 81 1883.
THE CONFKDERATE BONDMOLD.
ERS.
"An Atlantic cable telegram Informs us
that the rebel bondholders are about to bring
their claims TO the notice Of the British Gov.
eminent, ns set-o6 TO the Alabama claims.
Either the said bondholders are disposed to
be facetious, or sone>wag has been perpe-
trsting hoax. As We can hardly imagine
that these specializing gentlemen are in a
mood for joking about their investments in
confederate bonds, we incline to the opinion
that the telegram is q concoction. Possibly
the report has been set afoat by q bond
holder who, sold badly himself would like in
his turn to sell o few greenhorns. Y.
Tribune, ,,.. AAaA,
We do not know, Of course, any better than
the New York Tribune, precisely what efforts
the foreign holders Of the confederate bonds
msy maketo endeayor TO insure theirultimate
payment. We have hitherto thought it fair
TO presume that they would be likely TO
avail themselves Of every opportunity which
might occur, and Of every pretext which the
circumstances might afford, to induce the
British Government to urge their payment,
because The English people always do such
thinEs; and also because at the last reported
meeting Of these bondholdep at the London
Tavern, the intention to do so, and the rea-
sons therefor, were announced and stated.
And the reasons assigned were, in sub.
stance, atleading members Of the Ameri.
can Congress, and other distinguished Amer.
lean citizens, contended that by the seces.
sion Of the Southern States and the war they
IN legal effect withdrew from the Union and
set up d.. .facto government Of their own;
that il, as is contended by THADpEUs SrE.
vENs, GERRIr SMITH and others, they did get
out Of the Union, they were invested with
the legal right to set mp de facto govern
ment; that by the laws Of nations such de
.tacto government possessed the power dur.
ing its existence to contract debts which the
United States, as the conquering power, were
obliged to pay; that even though the States
themselves might repudiate the liability, al
Christendom would be interested in having
Great Britain enforce this welLsettled prin
ciple of international law; and that they
ought not, therefore, to regard the invest
ment as lost. 1t was replied at the same
meeting that Secretary SEWARD, in his dip
lomatie correspondence, had uniformly re
PEELED the idea af dissolved Union, and that
as he was the organ Of the Executive De.
partment it was not at all likely, SO long as
he occupied the position Of premier, that the
claim OF the bondholders would be admitted
Whether or not this telegram is "con
coction," We do not, of course, know; but
from what has occurred heretofore, and the
persistence Of THAp. STEVENS and others in
their purpose Of shutting out Southern Sen
ators and Representatives from Congress, We
shall not be at all surprised to hear that the
British Government sets up those bonds a
an offset to individual claims on our part
1t may be that so profound statesman a
Lord DERBY will disdain to urge SO fimsy
doctrine in respect to the dissolution Of tn
Union as that which is maintained by THAI
DEUS STEVENS. We hope he will. But tha
he will be urged to do so, even by Radical
this side of the water who are aching to bu,
up those bonds at nominal sums and realiz
their faces, we entertain no considerabl
doubt.
We know that it is Aippantly said that
would be absurd to urge the United State
"to pay for heating the poker" But Coz
ernments have been required to do sue
things very frequently; and IL the doctrin
urged by THADDEUs STEVENS and GERRl
SMITH shall prevail, we do not perceive how
under the laws of nations, our Government
can escape the obligation to do SO. Both {
them contend that our position toward tn
unrepresented States is the same as it woul
be toward Mexico if we had conquered tina
country by our arms. Would either Of thos
gentlemen deny that, if We had conquere
Mexico, we took her fiscal liabilities with he
assets 2 If they did, they would do SO i
derogation Of the laws ofnations as the sam
are laid down in all the books.
So long as our Foreign Office is in il
present able hands, we shall have no fears
our Government being saddled into the reb'
debt. That point will be, as it has beel
guarded by Mr.. SEWARD at every poin. Bt
just SO long as any credence shall be give
in Europe to the insane notion that tn
Union was dissolved by the war, will hop'
be cherished that at some time or anotht
and in some manner the rebel debt will
assumed and paid by the Government Of tn
United States. Mark the prediction.
PAYMAsTER MOORE.
We congratulate Volunteer Brevet Co