Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1881-12-01
CONFEDERATE BONDS.
The Speculation Due to Tricks of
Stock Gambling.

4
New York World, are good dea
directed toward the southern states al
this moment, fact altogether from
speculation in confederate bonds, which
was started from some backroom in
the city, and which is spoken well OF
in the city article of your contempo-
rary, the London World, and nowhere
else that l am aware of.
You will probably be surprised to
end that the writer of that article
quotes you this week as authority for
the happy tidings that there is fund
of "e1 100000 or so" still lying in the
Bank of England to the credit of the
confederates.
No suspicion of this Eldorado was
previously entertained here, the revival
of the speculation in confederate bonds
having had nothing whatever tangible
to support it-nothing bnt the assur-
ance of some adroit old campaigners in
the city that the Americans" would
be sure to snake it right some day or
other" But now it is no longer a case
of building castles in the air. There
is million pounds to be scrambled
for, and the adventures of the stock
exchange would be miserably degener-
ate if they could not get up a tolerably
brisk scramble for such a sum as that.
In fact, the city editor of your name
sake has made your million into two,
and he sees the way perfectly clear by
paying off all the bonds in the form of
an annuity at 4 per cent for twenty
years. You have ''chaffed" the buyers
of confederate bonds, but even that
treatment your contemporary accepts
with thankfulneSs, and regards it as a
favor. at is BETTER" he says, "than
flying into passion, and it places the
speculation in confederate bonds on a
footing equally with the multitude of
Wall street operations"
Thus you perceive that the smallest
sign of recognition, even though it
comes in the form of kick will be
thankfully received and gratefully ac-
knowledged. In vain, however, will
you search other London papers for
any notice whatever of this precious
scheme. There was time, no doubt,
when the leading dailies were in a
mood to believe in confederate loans
and recommended them to their read
ers, especially at the moments when
United States bonds were very low in
the market. The "6's," if 1 recollect
Alright, were not much above 65 or 20.
That was the time when Mr.. Peabody,
as / have often heard him say, was
putting every shilling he could lay
hands upon in what was then called by
way of distinction the "federal" loan,
while most of the English people, mis-
led by their gifted advisers in the press,
were rushing into "confederates." Mr..
Peabody was no loser by his faith in
his country, as we all know, and that
the investors on the other side were no
gamers is equally notorious. But they
are not satisfed-that is, persons who
have come into possession of their
bonds are not satisfied, for of course
the original holders gave up their
hopes, and threw away their worthless
paper long ago.
The persons who are now talking
about their "claims" are curbstone
brokers and their satellites, who bought
confederate bonds at so much the cart
load, and are now trying to persuade
the public to take them off their hands
at a fancy price. Even if the original
holders, who actually put down their
money to an amount at least bearing
some relation to the value inscribed
upon the bonds, were now pressing
their demands for payment, no one
would be inclined to waste any SYM
pathy upon them. They chose to take
the risk with their eyes open, and many
of them simply went into the specula.
tion by way, in sporting phrase, of
backing up their opinions with money.
They lost and said nothing more about
it. Then for years no one heard any
more about confederate bonds, nor
should we have heard of them now but
for the tricks of some needy parasites
of the stock exchange, who think that
if they make noise enough there will at
least be some discussion of their claims.
and that country parson" will then
come forward with his little hoard and
buy the rubbish which they have pre-
pared for him.
The whole thing is simply an impu-
dent attempt on the part of a gang of
gamblers to impose upon the public
an attempt little better in some of its
phases than an arrant swindle. The
ringleaderS are perfectly well aware
that no one within the United States
could or would recognize the confed.
crate loan or any part of it, but they
calculate, and rightly, that the bulk OF
the public may not be so well informed
and that the simple ones will step for.
ward with their accustomed docility tc
have their pockets picked.
This anticipation may perhaps be
realized, especially as no one here seems
disposed to take the trouble to warn
dubes against the trap which has beer
set for them. If, however, el,OOO. .OOC
is in the Bank of England belonging
TO the confederates, is not the proper
owner easily to be found? Sir Page
Wood, when vice chancellor, decided
that the United States were legal,
heirs of the confederacy. In that cast
are they not entitled to the money
supposing it to exist? The confederat,
debts have been disposed of by al
amendment to the constitution, but tn,
clause does not say that the money be
longing to the extinct confederacy shall
never be returned. If, then, the al
legged million is in the Golfers of tht
bank, what is to prevent Mr.. Lowell
from stepping up to the counter ant
asking for it?
a Race for Life.
A man had a curious race for life