Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-10-19
FISHING FOR WHALES AND CATCH.
ING GIDssEONS.

IL was stated, after the adjournment of
the Joint High Commission at Washington
last summer, that the British commissioners
managed those representing this govern
ment just as they pleased. There are sus-
picions that they were good deal too sharp
for our commissioners, and recent events go
a good way to confirm these suspicious. 1t
is certain that English statesmen construe
the "treaty of Washington" very differently
from the construction placed upon it By
Secretary Fish and other Radical lumin-
aries. In April, 1861, President Lincoln
issued a proclamation declaring the South
ern ports in a state of blockade. A great
deal depends on the construction that
is gut on this act Of President Lincoln,
and II is possible that it win be 50 construed
as TO make the British claims large enough
to warrant England's drawing on us for
large sum that was paid into the Treasury.
If it is decided that Air. Lincoln's procla-
nation involves responsibility on the part OF
our government, change will come over
the spirit of things, for the Alabama claims
amount to twelve millions only, while in the
event of the decision mentioned the claims
of the British government will amount to
about thirty millions. The prospect is a
decidedly cool one for Uncle Sam.
1t is stated that already about 1850
claims for compensation for losses
sustained by British subjects have been filed
for adjudication by the Commissioners pro-
xided by the 'treaty Of Washington" so
their deliberations will not be confined al
together to the alabama claims" In adj
dition 10 these, the English holders of the
Confederate bonds are taking active meas
ures to advance and substaniiate their claim
for the full payment of those securities.
They have formed committee composed
of the most Influential men in London, have
placed themselves IN communication
with the Foreign Office, and
have been directed by Lord Gran
vile 10 forward the statements of their
claims to Her Majestys Agent for Claims
at Washington. The questions involved in
this claim are very interesting and import
ant. After obtaining the best advice in
England as to the legality Of the proposed
Confederate loan, certain English capital
lists purchased the bonds at 90, with tht
object of exchanging the bonds for cottOr
at sixpence per pound six months after the
conclusion of the war between the Confed
crate States and the United States. Tn
fact that the holders gave ninety dollars il
gold for the hundred dollar bonds, is urge'
as conclusive proof of the bona fdes o
the transaction, and this higl price, as com
pared with that Of United States securitie;
which were selling at that time for G0,prOve
that the basis of the transaction was tn
substantial value, cotton. The Contederat
authorities, as long as they had the power
met their obligations under the contraC
with implicit good faith, and punctually
From 1868 to March, 1865, the interest NJ
on the bonds was fully met. But six month
after the cessation of the war, when, b
the stipulation of the bonds, the holder
were to be entitled to exchange them 70
cotton at Cd. per pound, the United State
having taken possession of all the asset:
both at home and abroad, of the Confede
rate States, and having seized, sold and az
propriated all thecotton, compelled the Stat
Governments severally to reIudiste thei
near debt Of the Confederate States. Th
bondhoIdeIs. who were never at any tim
notified that the United States, if the issu
of the war were favorable TO them, woul
repudiate this debt, now claim that they al
entitled to payment out of the assets of Ii
Confederate States, on the principle of la
upon which several cases have been decide
bsy the English courts where the Unite
States have endeavored to recover Confet
crate property in England, namely, that ii
right to obtain possession Of the Confede
ate assets involves the obligation to di
charge Confederate liabilities.
LAYING down the Law-Retiring frol