The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1881-11-02
q CONFEDERATE. BONDS.
HRoBABLE CAUSE OF THE LATE LON
nov FI.URRY TN THESE SECURITIES. Il

CAUSE OF THE LATE LON :
1-DoN FURRY IN THESE SECURITIES.
A short time ago it was announc-
ed in the New York papers that
several bankers in Amsterdam and
Frankfort were buying Confederate !
bonds, The price that they offered
as far as we can remember, was two
pounds and one shilling per centum,
or about S2.15 per hundred. 1t was
not understood in New York or
elsewhere what this demand meant,
although it provoked some inquiry
at the time. Judge John c. Fer
ris, of Nashville, received a letter
from a New York banking house
the other day offering to buy all the
Confederate bonds that might be
for sale. Commenting on this
remarkable demand for Confederate
bonds, the New Orleans Dem0crct
has this surmise as to the probable
meaning Of the move:
No one has been demented enoughrto
suggest the resurrection from its ashes
of the late Confederacy, and no unquiet
ghost of the Lost Cause stalks abroad to
alright the sonls of even the most timid
and imaginative patriot. 1t is cOnced-
ed everywhere and by everybody that
the Confederacy is dead as Marley, and
he, we all know, is "as dead as door
nail"
There being no possibility, therefore,
of the bonds being redeemed by the
the power that created them, it has puz-
zled great mahy people to account for
the inquiry for, and rise in them, when
only a little while ago they were regard
ed as so much waste paper. Some have
put forth the theory that the various
Southern States were individually to as
tonish the world, and especially the
holders of Confederate bonds, by pay
ing each its share of the Confederate
debt. This is hiGhly moral and sensa-
tional story, however, too moral and
virtuous to be believed in this mate
realistic and doubling age.
1t is hard enough for them to bear til e
burden of legitimate debt that presses
so heavily upon them without undertak
ing to vitalize lot of paper that repre-
sents nothing and for whom no ore is
more responsible than the English ma
ton itself.
s<'There are many other equally absurd
rumors in regard to the matter, but the
truth seems to have escaped the notice
ofthose who have been giving the sub
ject their attention.
When the war ended the Confederate
government had on deposite in London,
in the Bank of England, sever Il millions
of dollars, 600, 900, if we mistake not
aud the United States government be-
ing aware of the fact, made several I'M
| successful attempt to secure it.
Mr.. Seward wished to make peremp-
tory demand for it, but was GissuadeG
| from such course by Mr.. johnson,
who feared serious complications with
England at that time, and so the money
has lain there to this day unclaimed,
| and as it has doubtless been drawing
interest, theN amount must have enor-
! mOusly encreased.
The late furry ia Confederate bonds
has doubtless been cause by the design
on the part of the helders TO secure
payment ont of this large fund in the
Bank of England. ....
1t would seem to be quite time to
have this little matter of millions OF
meney settled, and as it unquestionly
belongs to the United States, its trans
fer from the vaults of The Old Lady Of
Threadneedle street to the Treasury at
Washington would be the proper thing
for Mr. Blaine or his successor to in
sist upon
A dispatch from Richmond, Va,
says that the "boOm" in Confederate
bonds is daily increasing in proper
tons. A leading clearinghouse
bought over 81, 100000 of them in
the last two days, and are still buy
ing. Other dealers report lively |
business ia the same bonds.