Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-12-09
GEORGIA BONDS.
An Effort N aking 10 Induce the State
80 Reconsider Her Action.

ATLANTA, GA December S.-The opening
wedge in the so-called bogus bonds matter
| was applied to-day when Gov. Stephens sent
10 the House message. covering a petition
| OF George Mattingly, of Baltimore, asking
payment for certain bonds which he holds,
and which were issued by Gov. Brown about
The beginning of the war in part payment
for 1900 Sharp's rifles, which he had con-
tracted for in 1860 under an act of the Leg
islsture. Cash WAS paid in part for he
rifles and bonds issued for the balance. The
rifles were delivered and cash payment
made before the Stale seeded. The act
authorizing the issue of the bonds was ap-
proved 10 November, 1860, but the bonds
themselves bear date February l, 1861, some
two weeks after the adoption of the ordinance
of secession. The bonds were sent to Spring
field, however, and reached there the
following July. The cash payment
amounted to S24,765, and six per cent
bonds were issued for the balance
25,000-and it is the principal of twenty
two of these bonds tina, Mattingly claims as
belonging to himself with interest thereon
since February, 1861, that he now asks the
State 10 pay. The governor makes no re-
commentator with regard 10 the proper
action TO be taken by the General Assembly
on the grave question thus formally pre-
scented 10 it's consideration. Mattingly, in
the petition, sets forth the history of the
claim, and supports it by letters from the
late Senator Hill, Gov. Stephens, then mem
Der of Congress, Senator Joseph Z Brown,
Ex-Judge George Hillyer and the late Amos
I. Alderman, and also by an argument by
his attorneys, Van Epps, Calhoun & King,
of this city. The petition, letters and argu-
ment are printed in pamphlet form, and are
full and complete. Action will be deferred
until the summer session. The refusal Of
Georgia to pay the debt is based upon the |
amendment of the Federal constitution
passed after the war, which prohibits the |
payment of any debt incurred in aid of iusur- |
rection or rebellion against the United |
States. Payment of the claim, therefore, de- |
ponds upon Whether the rifles were ordered |
IN anticipation of war or instruction, and |
whether "debt or obligation" to pay was |
incurred in aid If iusurrection or rebellion |
against the United States. Besides this, |
Georgia has nearly 81 ,000,0 900 OF repudiated |
bonds bearing seven per cent, the great |
bulk OF which was issued by Gov. Bullock |
during his administration for building rail- |
roads and otherwise developing the State. |
Bullock writes a card in which he says every |
dollar issued by him was in accordance with |
scts of the Legislature, and thinks that some |
day Georgia Will have to settle up with her |
creditors, who are principally Northern |
capitalists. All that the bondholders ask is
TO be permitted to make showing in The |
State courts. Lochrane, attorney for the /
Pullman Car Company, represents a large
amount of stock held By German ca pitalists,
which ne hopes to have paid. A large per-
ton OF these repudisted bonds are backed |
with favorable opinions "a to their validity
by prominent legal men of the State, but /
each Legislature since the bonds were repu-
dated has refused to lend an ear to the own
ers of these sureties. Gov. Stephens is re-
ported as favoring the payment of some of |
these bonds, and now that he is in position |
to act it is predicted that Georgia will have
to go back and undo some OF the mischief |
that her scions have done hurriedly and /
doub, less carelessly