Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1883-08-10
The Confederate bonds Game In Eu.


The Confederate bonds Game In Eu-
rope.
New York Herald (allegedl Cable DespatchI
l had a lengthy interview with gentleman
connected with the stock exchange who lived
many years in the South and is particularly
well acquainted with tho views Of London,
German, Dutch and Paris bankers. asked
him to give his opinion with reference to the
syndicate and possibility of a settlement Of
the bond debt of the former Confederate
states. lie answered 81 will try to explain
the matter in the fewest possible words
Ever since the collapse of the Confederate
states certain European spectators, moro par
ticularly the Dutch bankers and brokers, have
bought Confederate bonds at n mere song
from former planters in the South, from
Englishmen and from everybody else who
considered these bonds as nothing better than
wall paper. Especially did the Amsterdam
dealers invest in these bonds, il being n rule
of the Amsterdam Bourse to buy all such
stuff in expectation that every dog has his
day, or that by n clever rigging of the mar
ket they themselves could make that day
should it not como by itself. These specula-
tors have for many years been buying these
bonds at prices varying from q half a dollar
to 81 80 per $780, and sometimes for three
eighths Of a dollar. For the first few years
after the collapse of the Southern states
these spectators knew that the idea Of the
repayment of the Confederate bonds by the
United States would be considered absolute
folly and madness which no person in Amer
lea would dare to advise or even think Of,
and as far as the repayment by the Southern
states themselves in their individual cGpRci-
ty NJ states or as former members Of the Con.
federacy, was concerned, the Dutch or Eng
lish spectators themselves knew that those
states were VIGOROUSLY too poor for some
years after the war to make even the slight
est investment Only the clcrgymen and
widows believed that it was possible for them
to pay debt which legally they were not
bound to discharge. The Southern states
had on several occasions after the war shown
that they would not even pay their legal pub.
lie debts, and one reputation after another
had taken place So the spectators had it
all their own way. They got the Confeder
ate bonds for slice of bread and butter
But when corruption grew rampant in all
branches of the United States government
some years ago the shrewd European specu-
lators thought there might be IA chance for
them. They might, perhaps, be able to
bride somebody to mention the debt of the
former Confederate states either in the House
of Representatives in Washington or in the
Senate. They rightly concluded that the
mere mention of these bonds in Washington
would electrify the market for them, as peo-
pie would be found ready to buy at q 4 or /
even, bond which stood a chance Of being
repaid by the United States. Furthermore
when few years ago the elections in the
states went democratic, and when demo-
cratic majority in Congress WAS almost a GER
tainty, the spectators again drew breath.
Now they caused to be written in their pa.
pers that Il democratic majority in Congress
would recognize the Confederate debt, and
again tho market WAS rugged. Some demo-
cratic members were induced to mention,
. either in their stump spe ches or IN writing,
| the Confederate debt, aud AS soon rs u speech
| came across the Atlantic up went the Coufed-
crate bonds This continued for some time
until the bubble burst and these worthless
bonds rcturn,d to their level This game of
/ up and down has been played several times
during the past few years. The Spectators
always succeeded in inducing by such ma.
nuuvres other spectators to buy when the
good news arrived from America As soon
as the whole amount had been nb ,Orhud by
! the public the possibility of the accomplish
ment of the dream of repayment vanished.
/ The poor, bamboozed purchasers say that
| the price fell every day and they held out to
| save themselves from the loss Of their entire
/ Investment This trick was performed sew
/ eral times during the last ten years, shrewd
]
over the whole Confederate debt, Away buy
ing when the news concerning the bonds was
worst and inducing the public to purchase
/ from them when the rumor Of possible re-
payment had arrived FROM America, and buy
ing back again from the public when these
simpletons had discovered that the repay
ment of the Conf, derate bonds was an idle
dream
"But why is there at present "a revival Of
the Confederate bond scheme 2"
"You see the thing is this. After the last
revival Of Confederate bond dealings in Lon
don and Amsterdam two years ago the specu.
ators who had sold to the public these bonds
at say from 50 to 81 80 and So, and had
after the collapse Of the repayment dodge,
/ bought them back again at say from ; down
to three-tighths OF "A dollar, came to the con-
clusion that the next time they would have
to try a new plan So they invented the idea
that the Southern states, if they were not in
cined out Of :heir own free will or out OF
honesty to pay the Confederate bonds, could
. be made to come to Il settlement Then tht
great word Taboo the Southern states on the
bourses of Europe went forth. We will moi
permit single bond of any Southern stat,
to be dealt with on the European bourses
nor will we permit a new Southern loan Il
be quoted on the stock exchange, as long a.
they do not settle the Confederate bond loan.
The tabooing is all nonsense. II the capital
lists in Europe or America should see tina
one of the southern individual states is pro
gressive and solvent they would lend none!
to that state, Notwithstanding the tabooinl
of certain syndicate. Good and solyen
communities always find lenders at prope
terms, and as long as the Southern states ar
not solvent the tabooing does not hurt then
because they cannot get dollar any way oil
"A EuroDean bOurse