, 1874-06-15
Il WARNING TO D0NDHOLnERs.

-aS AsAeAAoAA " h4J ~ HAAsAAAA U2GtASo sAAo
Brittsh hondholdara do not think 1t ia honorable
in tho highest degroo for Virginia to refuse to
pay tito money she las pledged herself to pny.
The Wing makoa roply modelled after tho re-
tort Of tho 1taliau press to tho Engliah papors
which spoke alightingly OF Italian credit
u You're another Edward III. borrowed t,0o0,-
GOO crowns OK Florontino banking-houBo nnd
never paid them buck i" So tho 1Yhi9 tells tho
following curious bit Of history:
In 1890, tho Prince Of Walos, afterwards
George ~, and his two brothers, tho Dukcs Of
York aud Clarence, put loan of Et,ooo ,0oo up
Oh the market, in order to pay their dobts.
They guaranteed por cent interest, aud
secured tho principal by vcstipg all their
revenues in the hands OF Trustees. Tho
bonds could not DO sold IN England, but :e6o0 900
OF thom were disposed Of abroad. During tho
confusion of tho Frcnch Revolution, the t1roo
Royal scapcgracoa stopped paying interest.
Many Of tho bonds were ownod by Fronohnen
who tled to England for safety. They were
naturally poor, and they made urgent demands
for tho promised interest. Tho Princes TOM
porizod. at frat they declined to pay on tho
ground TINT tue holdera were not tho original
owners. When 1t WAS shown TINT tho boudn
wcro expressly made transferable, aud that,
moreover. most Of the claimants wore tho
original buyers, tho Princes tlatly denied tho
validity Of tho whole lonn. II. Montignac, one Of
the refugeeu brought the case before the Court Of
Chnucery. Tho Prince Of Wales nttorney delayed
L settlement for long time by rosortiug to all
mannor Of legal qu!bbles. This excited nttcn-
ton abroad. 4 number of tho bondloldera liy-
ing on tho Continent came over to England to
aid in tho prosecution OF II. Martignao's suit
The " Alien Low" then in force, made It legal for
tho Homo Department to Helzo and send out OF
tho Kingdom any suspected alien. This latent
power waB used. Without q moments notice, tho
! whole batch of bondholdors wore oappod on
board ahip, which ut oueo set aail for Holland.
It cast anchor, however, at tho Moro. It was
pretended that dispatches from tho State Do
| partmout wero expected. Then something odd
| happoned. Late ut night Captain and orow
rowed to tho ahoso. nofora thoy reaohed 1t, tho
| ship caroonel and sank. Not bloatod bond
holdor escaped.
s.. Tho moral Of pleasing talo Ia, that the mcu
who aro ruled by tho niccp Of Il dofanlting bond
| acllor had bottor not maize fuss because othor
bonl-aoIlors default. 1t will scarcely prove coli
| elusive to tho people whom ropudiation has
/ beggared. There IL another moral, however,
| which We commend to the notice Of Mr. Butlor
aud Senator Morton, aud tho othor mon who
wish to ropudiate. in whole or part. Il such @
job is to bo done, 1t Ind berthe dono thoroughly.
II bonds and bontholders arc destroyed together,
there will DO no claimants loft to mako trouble.
Foreigners might be euticod on shipboard and
then Bent to the bottom Of tho Boa, md our own
citizens who wore wicked enough to lend money
| to the country in its timo Of deadly nool could
DO shot, ono by Que, by Special AgontB Of tho
Treaaury Department.