Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-04-14
THE CONFEDERATE COTTON
LOAN.

Meeting Of the BOndhOIders in Ion.
don 90 Report Of the Committee -
Counter Claims to be Instituted
against the United States, etc.
From the London Star, March p.
Yesterday afternoon a meeting of the
Confederate cotton loan bondholders was
held at the London Tavern.
Admiral Provo Wallis, who occupied the
chair, said the meeting had been called at
the request Of great majority Of the bond
holders who assembled in their committee
room on the 9th of January. 1t was held
for the purpose of laying before them the
second report Of the committee, and he
wished TO state, at the same time, that they
had done their utmost in the matter which
was OF 80 much importance to the bond
holders. Hear, hear. They received, to
begin with, the best legal opinions which
could be obtained in this country with re.
spect to the loan, and he wished TO disabuse
the minds of the bondholders as TO an idea
which had got abroad that the loan wasnot
legal enc. Both Sir Hugh Cairns and
Mr.. Henry Cotton had expressed their
opinion that the loan was perfectly legal.
and they were moreover led to believe that
thessSoutherners were atthe present moment
perfectly willing, il allowed, TO pay their
quota. Hear shear The so-called
United States were determined that the
money should not be paid, and the ex-
traordinary part Of the proceedings was
that not only did the United States wish to
punish the South in every possible manner,
but desired to punish the bondholders Of
this loan through them. BY all interna-
uonal law the country which was the con-
querer recognized the debts of its predeces-
scr. Prussia, for instance, had conquered
Hanover, and had recognized its debts;
bat il appeared that the United States were
determined TO repudiase those Of the South.
lie hoped, however, the bondholders would
ultimately be able TO establish their claims
in connection with the cotton loan.
At the request of a bondholder the chair.
man read the report Of The committee, an
abstract u which has already appeared
Mr. Harris proposed the adoption of the
report.
Mr.. King seconded the proposition.
Mr.. Harris asked If the committee had
memorialized the British government on
the subject Of the loan.
The chairman replied in the Affirmative.
Mr.. Harris desired 20 know IL an answer
had been received 10 the memorial.
The chairman said they had received an
answer from the government 10 the effect
that II any claims were made in connection
with the Alabama, the same tribunal woul6
be open 10 the Others. Hear, hear.
The resolution was then carried.
The chairman said the second resolution
he bad 10 submit was as follows: Resolved.
That IS legal proceedings have been taken
hy the government Of the United States to
recover in the English and French law
courts property and money belonging 70
the late Confederate States, IL is OF the
utmost importance that notice Of counter
claims should be Immediately given on be-
half Of the holders Of the seven per cent
cotton bonds, and that the Bond Committee
be furnished with the requisite funds to
enable them 10 take legal proceedings as
counsel may advise" In considering this
resolution, he desired them 10 remember
how they had been situated. At the frst
meeting Of bondholders in January. 1866.
they were requested 70 form a COM
mitieo, with The hone Of obt.iniog
the money 20 which they believed
they were justly entitled, and from that
time they had been anxiouslv AT work
They had devoted much OF their time ioit.
and large amount Of money had also
been expended in endeayoring to establish
their claims. They had sent agents 10
America, and taken every other step which
appeared advisable 70 the committee. They
had also obtained the opinion Of one OF the
6rst counsels in tie country, the Hon. j. L.
O'SalliTan, Of New York, late Minister @
the United States % Portugal. Mr.. o'Sul.
livan had given the following opinion
Ia my opinion, your bonds are good aud
valid, distribulively against the several