The New York herald., 1868-03-23

1850 - ~~~~o~~o sAS 6SvOA AAkChs VI w.
Davis, and is cautious about getting into any
other complications with this country.
John Bull Weeping and Wailins Again Over
Those Rebel Cotton Bonds.
In the matter of those aforesaid rebel cotton
loan bonds held by John Bull against Brother
Jonathan we published yesterday two very
doleful and amusing letters from Mr.. William
Morgan, of London, in behalf Of himself and
others of the committee of said cotton bond
holders. We are sorry for Mr.. Morgan, but
we are afraid we can do nothing for him, all
our funds are so tied up, you know. His case
reminds us of the famous New York Morgan
who, many years ago, disclosed in book the
secrets of Freemasonry, and whose dead body,
or that Of "a good enough Morgan till after the
election, was found shortly after that publica
tion at the waters edge below Niagara Falls
Those rebel cotton bonds have likewise gone
over those falls, and we are sorry to say, but
we have to say, to Mr.. William Morgan that his
case is as hopeless as that Of the Niagara Nor
gan, now thirty years in his grave. The London
Morgan thinks that his rebel cotton bonds are
pretty good Offset to the Alabama claims, and he
seems to think that treaty involving the one
set of claims against the other would bind the
two countries in the bonds of plenty of loans
for the future and everlasting peace. Sorry to
say it, Mr.. Morgan, but the truth must be told,
that he who now undertakes an exploration
in search of the buried treasures of Captain
Kidd, the pirate, has better prospect before
him than the holders of those rebel cotton bonds
for payment assuming that Captain Kidd did
bury certain treasures somewhere before he
died, and that they still remain where he left
them
Mr.. Morgan says that the United States
compelled the Southern States to repudiate
a loan made to those States when de facto
government by British subjects, on the
of cotton, which they were to
have the privilege of purchasing at sixpence
per pound six months after the termination of
the war, and this was the inducement, and no
other, which caused the advance to be made"
Very well Confederate cotton at sixpence
per pound was inducement enough, with the
assurance that the 'so-called Confederate
States" would come out of the war right side
up, with the cotton. But they did not. There
was the miscalculation of Mr.. Morgan and his
confederate holders of those bonds, and we
cannot be held responsible for their mistakes.
The thing is plain as daylight They pinned
their faith to these Confederate cotton bonds of
JEFF Davis because they believed in his South
led them into this blunder, and Mr.. Morgan
ought, therefore, to apply for damages to that
or to Erlanger & Co., Of Paris,
instead of holding the United States respon-
sible for money furnished as ''aid and COM
fort to the enemy"
But Mr.. Morgan says ''the credit of the
Southern States is utterly annihilated by this
act of forced reputation" of these rebel cotton
bonds, and that those States 'swill not be able
to borrow shilling in Europe until allowed to
Morgan further warns us that on this rule of
sapce for the geese who lent
money to the South may become sauce for the
ganders who lent their money to the North.
Perhaps so; but if so we cannot make it out
how this will help the geese that have been
aforesaid English holders of
those rebel cotton bonds. Their refusal to
lend any more money to our Southern States
will do no good. The trouble is in lending
what they did (some two million pounds ster-
ling, we believe) to JEFF Davis, on the promise
Of Confederate cotton at six pence per pound
That was a mistake, involving claims which
the United States cannot satisfy, for they had
nothing to do with them; and which the So
called Confederate States" cannot satisfy, for
they no longer exist and which JEFF Davis
cannot satisfy, for his Confederate cotton is
gone, all gone, and his scrip likewise. In
short, Mr.. Morgan, the old adage, rough but
appropriate, that "a fool and his money are
soon parted, is the only possible settlement in
the matter of these rebel cotton loan bonds.
The holders of O'Mahoney's Fenian bonds Of
the Irish republic have as good claim against
England and as fair chance for redemption,
as have Mr.. William Morgan, Of London, and
his associate rebel bondholders against the
United States. These rebel loans must 60 into
the grand aggregate Of the five thousand mil
lions Of money and property sunk by the rebel
Southern States and their outside confederates
in their late struggle for the right to ship cotton
to their English friends at six penceper pound.
Waste no more time or money on these bonds,
Mr.. Morgan, for they are waste paper, and
henceforth will never be worth more than six
pence per pound ''Quoth the raven, Never
more"
Shocking Highway Sobbery In Brooklyn.
A very bold affair IL reported to have taken
place in Brooklyn on Friday night in the shape