The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1881-11-09
THOSE .eoNFEDERATE B0NDs


a late washington dispatchl Says
that large purchases of Confederate
coupon bonds have been made in
that city by leading brokers to fill
orders of English customers and
their New York agents. Most Of
the. securities come from Virginia,
Maryland and North Carolina. The
explanation generally given for the
sdemand for these bonds is that at
the close Of the late war balance
remained in the Bank of England
to the credit of the Confederate.
States, which, according to Solicitor
Raynor, of the Treasury Depart
ment, has been variously stated at
from 100000 to 81 100000. This
balance, it is said, still lies there un-
claimed, and there is a possibility
if not prospect that it will shortly
be divided pro rata among the hold
ers Of Confederate securities, or at
least that steps will be taken to Sc
cure such division. Solicitor Ray
nor says that he does not know Off
-cially anything with regard to the
subject. He says, furthermore, that,
granting the existence of the bal
ance, he does not see what it has to
do with Confederate bonds, or how
the bOndholders are to obtain pos
session Of it. The money was not
deposited in the bank to secure the
bonds, and it can hardly be applied
by the officers Of the bank to any
such object.
Commenting on the present de-
mand for this worthless paper, the
Charleston Ne1CS says: "There is
mot the remotest chance that these
bonds will ever be paid in whole or
in part. The Constitution of the
United States forbids it, and public
sentiment is opposed to it. 1t may
as well be understood, once for all,
that the people of the States which
formed the Southern Confederacy
neither expect or desire the pay
ment Of the Confederate debt. They
did not want it when the bonds
were owned in the South. They
will resist it actively whenever the
claim for payment is made by q
body of foreigners who arespeculat-
ing in the good feeling existing be-
tween the United States and Eng
land 1t is really too ridiculous
subject for serious discussion, but
we consider it sure that the South
ern States would veto the payment
of the debt, even if the Northern
States were willing that it should
be liqudated"
The Pail Mall Gasettesays: There
is no truth whatever in the state
ment that there is a large amount Of
money in the Bank Of England de-
posted to the credit of the Confed-
crate Government, and available for
the payment of Confederate bonds.
We believe it does not hold a sin
gle penny, and doubt whether there
is any such money in any bank in
this country. The whole story IS
gross fabrication, and the fitting
product of a speculation that has no
substantial foundation.
A New Orleans dispatch says:
General Joseph Davis, nephew of
Jefferson Davis, says there is no
money in the Bank of England to
the credit of the Confederate gov
eminent. He also states that Jeffer-
son. Davis expressed a similar opin-
ion before his departure for England;
hence the report that his visit to
London was made for the purpose Of
ascertaining what amount is in the
bank was an idle one. Gen. Davis
says that at the time of the surren-
der of Lee there was in the hands
of JACOB Thompson, who was in
Canada, about $4,000, and prob
ably as much moro in possession Of
Gov. McRea, the financial agent OF
the Confederacy in England. These
were all the funds owned by the
Confederate government at the time
of the surrender Gov. McRea sent
a considerable sum to Hon Chas.
O'Connor to defend Davis and the
other Confederate leaders who were
threatened with prosecution by the
Federal government. The old law
yer, however, refused to accept any
compensation for defending Jef1er-
son Davis. Gen. Davis believes
these funds have all been expended
long since"