The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-08-24
PAYMENT OF THE REBEL DEBT.
WASHINGTON. August II,

WASHINGTON. August II, 1858.
The National Republican Of this morning has the
following editoria:-
General Hampton in his speeches made the follow
As result he revealed more Of the savings and
dongs Of the secret councils Of the democratic lead
ers OF the National Convention than was intended.
that he was promised, If he would not insist upon
too much in The platform, that himself and friends
spse p %ste reeaned their lost bower
One Of the very first things the rebels will ask will
he the assumption Of the rebel debt. This IS pre-
cuded by the amendment known az the fourteenth
ticle. But the democracy deny that this amendment
has been legally adopted. and threaten it's nullifica-
ton. This threat Is the result OF the promise TO
Hampton, aud is made Is guarantee Of their good
faith.
acting under the dictation Of their rebel allics Is
therefore just this:-The practical reputation (by
their payment in greenbacks OF the bonds issued by
the general government TO put down the rebellion.
ana the immediate assumption OF the rebel debt IN
CURED In the prosecution of the war against free
dom and the Union.
The National Republican IL in the confidence Of
our financial msgnates and knows whereof II speaks
There are those undoubtedly who seeing the stupen-
dous fortunes realized by manipulating and fund
ing, our war debt, are now looking for new
worlds 10 conquer in the shape OF q scheme for
"funding' Confederate bonds into the bonds OF the
United states. such an operation would certainly
not be bad for the present holders Of Confederate
states OF America securities many OF whom are now
undoubtedly radical 10 the backbone But q scheme
OF such magnitude cannot I've carried out or ut
tempted, with hope OF success. without long
preparation careful manipulation and heavy
radical influence. This important question
then occurs:--Are there parties with requisite
capital experience and influence engaged In
the work. am not prepared 10 answer the ques
ton but will quote very significant advertisement
that appeared In two Of the local papers Of this city
the JatetifgencS' and Reputttoa,--about 4 year
since. IL IL as folows:-
CONFEDERATE BONDS wASTrD.
FIRST NATIONAL BANk August ~ isS1.
We have an order for moderate amount Of the eight ptS
cent bonds Of the G. s. A., and until filed will buy all thk
are offered, at the best rssc, ,,xr,.cu,x -,
The Confederate debt cannot walk without legs.
The scheme for its payment by the United States
cannot be carried out without managers In tue same
advertisement find another displayed IN large type.
The first part OF 1t Is IA follows:--
First National Bank Of Washington r. y. Cooke (of Jay
Cooke co.,, President W. =. Huntington Cashier
eminent Depository and Financial Ageut the United
stsss Fifteenth street, opposite the Treasury Department
hear in mind the HERALD's general rule prohibits
ing the OF ts editorial or correspondence columns
as an advertising medium: but when the spectacle
Of financial agent Of the United States advertising
for both Confederate states Of America and United
states bonds In the same paper is presented think
an exception may he made In his favor by giving such
extraordinary enterprise wider circulation than
can he obtained through the local press Of this city
ny referring the letter from the secretary Of the
| Treasury OF January In reply to House resolution
In regard to United States deposits national banks
free OF interest IL will be seen that the United states
dap0H,A N JN Cookies hank q Waahipgt0n durina