Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1870-11-29
Mr.. PEABODY's SPECULATIONS
IN CONFEDERATE BONDS.

Being among a party OF friends al
q gentleman's house in this city one
evening, one Of the party remarked
to Mr.. Peabody that he had read
something in newspaper that day
70 the effect that he sympatlized
with the South during tho war, and
made money by specializing in Con
fedcrate bonds. Mr. Peabody imme-
diately jumped TO his feet and denied
the insinuation with great earnest
ness and much apparent feeling. lie
said he had read similar paragraphs
in Che newspapers himself, and be
was utterly 1T loss 10 know how
euch IA Impression could have got
abroad. So far from saying anything
or doing anything during the war to
justify such an imputation, he said
that be had uniformly aud from the
start condemned the course Of the
South in taking up arms against he
Government, and had over and over
again sacrificed his own interests and
injured bis reputation among his
English friends and associates by
his unwavering adherence to the adj
vocacy OF t6e cause Of the North.
Gas for specializing in Confederate
bonds" said he, "tho only money
that [ made out Of the South during
the war was made in this way :
Agents OF the Confederate Govern
ment called on me and importuned
me % use my influence in negotiat.
ing q loan for The Confederacy in
England. Immediately and per-
emptorily refused to have anything
10 DO with il, and told them that IN
my opinion any American ought to
be ashamed TO have anything to do
with an attempt to break up and de-
stroy such q government ~ they en-
joyed. Finding that 1 would have
nothing to DO with their bonds, they
sought aid elsewhere The sympa-
thies Of many English capitalists
were with them, and they finally
succeeded III cnlistiug four or five
men Of large means in their scheme,
and meeting was held, at which
they were to close the negotiations
for loan of SO, 100000 to the Con-
federacy, receiving its bonds there
for at fifty cents on the dollar. Just
before the final papers were to be
signed, one Of the capitalists remark
ed to the company that, before he
affixed his signature, he thought he
would 20 down and consult his
friend Peabody, and see what he
thought of it, Another Of the party
said he would do the same thing, and
they both came to me, told me what
had been done, and asked my advice.
Said |, Gentlemen, why will you pay
fifty cents on the dollar for these
bonds, when by waiting one year,
you can get them for twenty-five or
thirty cents on the dollar 2
You do not believe, Go you, Mr..
Peabody replied one Of the gentle
men, that these bonds can be bought
a year hence for that price 2
Il certainly do | replied and to
prove that ! am sincere, | will stipu-
late 10 sell you mlilioh uOllhFs
worth in ono year from to-day At
twenty-five cents On the dollar,
They both then agreed that they
would have nothing more to 10 with
the loan but to show that they had
no faith in what | said about the tu-
ture value Of the bonds, they were
both anxious to accept my offer, and
required me 20 reduce my stipulation
to writing | ala so. The year
came round, the Confederate bonds
were eyoa less than | anticipated
But gentlemen. held them to their
bargain, and received 100000 from
them in fulflment Of it, which was
all the money ever made by specu-
lating in the bonds OF tho Conicdcr-
acy. ~ y. Times