The New York herald., 1871-09-28

accep. the situation and make as good a
Eight on the stump, on behalf Of Wash
burn, as he recently made, although
unavailingly, for himself As Ben But
Ter is a man who is sometimes de-
feated, but never vanquished, it is probable
be will accept this advice and wait patiently
for something to turn up in the political world
which will enable him to pay of old scores
and to strike balance with the men who have
at present succeeded in placing him on the
wrong side Of the ledger.
The washinsson Treaty and the Rebel
Cotton Loan Bendhol6ers.
From historical sketch and legal argument
on the subject published in late issue of the
Manchester England) Examiner it appears
that ''the appointment Of the Joint High Com
mission, or Board of Arbitration, which is, 'by
common consent, to include all claims for
compensation which may have been or which
may be, made by each government or by its
citizens, upon the other has induced the
holders of Confederate cotton bonds to vigor-
ously prosecute their claims, and that "a very
influential committee has been formed in Loa-
don to watch over the interests of the claim
ants" It further appears that "a very volumi-
nous correspondence has passed between the
committee aud the British Foreign Office, I"
and that ''inasmuch as five millions sterling of
claims are affected the present position of
matters is OF the greatest interest and impor-
tance."
We should think so, especially to the bond
holders concerned, with five millions sterling,
or twenty five millions of dollars, at stake. 1t
next appears, from reference of Lord Gran
vile to the twelfth article of the Treaty Of
Washington, that these cotton loan claims
may be submitted among the other claims Of
British subjects, the settlement of which is
provided for in said treaty, and that accord
ingly those bondholders shave determined
to have their claims represented" before the
Board of Arbitration appointed on the subject
''by the highest English or American counsel,
but most probably the latter"
Very good. Five millions sterling is stiff
sum OF money but the five millions involved
in these Confederate cotton loan bonds are
sacrificed, lost, dead aud gone beyond remedy.
The so-called Confederate States, iu the midst
of their rebellion against the United States,
contracted loan in England of some ten
millions Of dollars or more, to be redeemed in
Confederate States cotton" at the rate Of
sixpence per pound, ''sx months after the
expiration of the war between the two bellig-
erents." The money was advanced on this
loan at the rate Of ninety per cent for the one
hundred bond and for the option of
changing said bond for the so-called
Confederate government cotton at six
pence per pound, and The English blockade
runners dealt largely in these bonds in pur-
moneys or arms, ammunition and other materi-
ais Of war supplied to JEFF Davis in exchange,
made all these English parties concerned his
active allies in his rebellion against the sover-
eign authority of the United States over the
rebellious States.
The constitution of the United States, third
section, fourteenth article, therefore, will
apply to these Anglo-rebel cotton loan claims;
and it ordains that ''neither the United States
nor any State shall assume or pay any debt or
obligation incurred in aid of insurrection or
rebellion against the United States, or any
claims for the loss or emancipation of any
slave; but all such debts, obligations and
claims shall be held illegal and void" This is
conclusive; for if it is contended that
this provision of the constitution was not
adopted till after the war of the late rebellion,
1t will be answered that the amendment in
question is but the perpetuation of the position
and the declarations Of the government of the
United States during tho war. To save these
English Confederate cotton loan bondholders,
therefore, from the needless expense of q
corps Of lawyers to prosecute their claims
under the Treaty of Washington, we would
recommend them to ask for the opinion Of
General Schenck, our Minister at London, on
the subject. AS one Of the American men,
bers Of the Joint High Commission he is the
very man who can authoritatively tell these
Treaty Of Washington are 'sillegal and void "
The Restless, Intriguing Bonapartes.
However much the members OF the Bona
parte family may differ in character in some
respects, they are all alike as ambitious polit-
cal ntriguers The ex-Empcror Louis Napo-
leon, Prince Napoleon (Plon-Plon) and the
rest have this same stamp Of character for
which the first and great Napoleon was dis
tinguished. This it is, too, that makes them
the greatest revolutionists and Grebrands in
Europe. 1t appears from a despatch from
London that a correspondepce has been die