The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-08-04
THE CONFEDERATE COTTON LoAN
Hopes OF an English Bondhold der.

TO TIE EDITOR OF THE LONDON POST.
S1R-It has been asserted that these bonds
would act as set-off against the Alabama
claims, aud this may be their ultimate tate;
but, as holder, I am by NO means disposed
to admit that our claims, which are founded
first, on the American government having
seized the cotton which was hypothecated TOR
their payment; second, on the government OF
the United States. or rather the Congress, hav-
lug forcibly interfered to compel the Southern
States to repudiate their obligations to the
bondholders. On both or either OF these causes
the United States Government are bound. ac-
cording to the law OF nations, to pay these
bonds.
I think, therefore, it will be admitted that
although they may, for the sake Of burying all
differences between the United States and Eng-
land in oblivion, be set of against the damages
done by the Alabama, they stand, on interna-
tional and equitable grounds, on q far higher
footing. SO tar, therefore, as setting all differ
ences arising out OF the late war are concern
ed, should be glad to see the matter ADJUST
ed; but I protest against our equitable and
legal claims depending in any way on the set
tlement OF the Alabama claims, which, in an
international point OF view, can only be paid
as an ect Of grace.
The holders of Confederate cotton bonds
speak OF those issued by Messrs. Schroeder q
CO., the only foreign loan the Confederate
States contracted-have only to exercise lit
tie more patience and their Claims will be paid
by the Southern States themselves. The dis
honest tyranny which compelled them to re-
pudiate the debt, which they held more sacred
than any other as point OF honor to pay, can
not last much logger. The South are begin
ming to breathe again, and they will obtain
plenty OF Chinese labor 10 replace that of the
negroes; and as prosperity advances, and more
capital is required for them to cultivate their
estates, the first thing they will do is to turn
their eyes toward England for its supply: and
the first thing that will naturally suggest itself
is the pa! ment of this yaltry lean.
What would be three or four millions ster-
ling divided among the Southern States2 Be-
sides this, the South will have something 10
say as well ss the West, when the great ques-
| tion-tb' zeal question which caused the late
| war viz, ZEE trade-cemes on ior dlsc ussIon.
The holders OF cotton bonds have only to
lock their bonds up in their boxes and calmly
| holders having placed their case before the
| government, not only Of Mr.. Disraeli, but of
Mr. Gladstone, and both governments having
agreed that it should be referred to any com.
mission that may be set on foot, they have only
to exercise little more patience.
It neither suits the commercial nor political
| relations OF the two countries to have the
large claims that are admitted to exist on
both sides for damages arising out OF the in
cidepts in the war to be kept open-nor will
they be kept open-especially during such an
agitation as is about to commence in the
United States relative to free trade.
Thank God, this free-trade agitation will
commence free from the question of slavery;
it will not be again stIAed By enlisting syuipa-
thy with the North, because they alleged they
were ightiuS the battle OF Freedom against
Slavery. Ali America, with the exception OF
the New England States, will be in favor Of free
trade; and ont Of this agitation something
favorable may arise for
July 10. A CorToN BoSDHoIDER,