Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1884-06-09


Snow was connected with the quaftermas-
ter's and commissary's department at Alex
andria during the war, and has resided in
that city ever since.
ENGLAND AND VIRGINIA BONDS.
OF very great Importance in all the qucs.
tons arising as to the settlement Of the debt
OF the State Of Virginia, is the position TAX
en- at any stage Of the complicated proceed
iugs by the English bondholders, who are
many in number, who represent large
amounts of bonds of several issues, and who
are united for action and have all through
the struggle manifested lively determine
ton to contest every step of the readjustcrs
towards reputation. They are represent
ed by eminent counsel on both sides of the
water, and arc kept constantly and fully
informed by their responsible financial
agents located here and in Virginia. Mr.
John nj. Nelson, of Messrs John A. Ham
bleton & Co., Of Baltimore, recently visited
England for the purpose Of comforting per-
sonally with the representatives of the bond
holders there, for whom the house has act
ed for Il long time past in matters relating
to Virgins. securities. He returned some
days since, and the result Of his voyage will
not be without important bearing upon the
debt question as is shown by the following
extract from the last weekly circular of the
firm :-BItimorc -lm,crican.
1--WE have recently had the pleasure of
several personal interviews with the Rt
Hon. Edward Pleydell- Bouvcrie, chairman
and many Of the members Of the Council of
Foreign Bondholders in regard to the sub
ject Of the bonds OF the State OF Virginia
This corporation was formed for the pur-
pose of protecting the interest Of foreign
bondholders, and we take great pleasure in
informing our readers that many millions
of Virginia bonds have been pooled and de-
posted with this powerful and most emf
nent body, and that they propose to contest
every inch of ground until the State Of Vir-
ginia is forced to fulfil its just and equitable
obligations, which it has sought TO repudi-
ate. mol one bond arN be funded. The
Council of Foreign Bondholders have under
consideration scheme, which, if adopted,
will enhance the value of such bonds and
coupons as are pooled and will have the effect
of inducing all Virginia tax-receivable bond
holders to unite for their common good. 1t
is proposed to advertise in tlfe Baltimore
and Richmond newspapers that the
agents of the Council Of Foreign Bond
holders will sell to the taxpayers who
are indebted to the State of Vir-
ginia taX-receivable coupons-cut from
such bonds rs are pooled and which have
paid the assessment-in sums of not less
than 800 or more than $1,000, and the Conn
Gil Of Foreign Bomlhotders wW guarantee
that such coupons wlt pay the tao when
e IA;
is, that in the first place, all taxpayers in
Virginia may be induced to refuse to pay
any money into the State treasury, and
that they may be fully satisfied that
they will be protected in refusing to
pay their taxes in money, and that
it is only necessary for them to tender
coupons and they will be entirely relieved
from paying any taxes. In thesecond place
this guaranteeing of coupons will induce all
bondholders to join with the Council Of
Foreign Bondholders, and thus by united
action and by additional funds received
from the small assessment on each bond,
assist the efforts of the council in forcing the
State to once more receive the coupons for
taxes. What the Council of Foreign Bond
holders mean by guaranteeing that the cou
pons from pooled bonds will pay the tax, is
that the council will undertake to defend
any taxpayer who may buy their coupons
and tender them in payment of taxes from
any attempt that may be made by the State
officials to force him to pay his taxes in
money. That is, if a taxpayer buys the
pooled coupons and tenders them in pay
ment of taxes, and if refused, the collector
should attempt to force the taxpayer to pay
by seizure of his property, the Council of
Foreign Boudholders will defend the case,
will prevent the sale Of his property by OBJ
tanning an injunction, aud will sue the col.
lector for damages as trespasser. This the
council will undertake to do at their own eX-
pense, and the taxpayer will be saved all
trouble and expense, and need give himself 10
further concern about the matter after he has ten
icred his coupons. 1t is not necessary for us to
say one word about the responsibility of the
Council oI Foreign Bondholdcrs, of their ability
to perform what they undertake. The gentlemen
who have undertaken this mOvcmcnttO defeat the
schemes of the regulators thoroughly in
earnest, and will not spare either money or time
to accomplish their object In our personal inter
views with the gentlemen who compose the coun-
I'll we are fully persuaded that they arc deter
mined To accept no compromise from Virginia in
The future. Concessions and compromises have
been made in the past by the holders of the Vir-
sinia bonds and in good faith they have released
The State from large portion of the face value Of
heir bonds. and have accepted in the 1O-4Os q re.
luced rate of interest. only to be laughed at for
heir pains, and roundly abused for their nno-
,ence in believing that the State of Virginia
would keep faith with them. Having fought the
light, and being on all sides successful, they are
much encouraged
The commissioners appointed by Spain to
INQUIRE into the condition of Cuba have ar
lived at Havana. They are directed to in