New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-04-29
A COMING CLAIM.

A story which comes from Charleston, South
Carolina, has considerable interest just now IN
view of the return of former rebels in large
number to the places which they deserted Ill
order to help the rebellion. According to this
statement. the active demand for Confederate
bonds, which has two or three times been
noticed, and which was commonly supposed to
be altogether senseless, was in fact not without
a meaning and practical object. 1t has long
been known that considerable fund, raised for
the uses of the rebel Government abroad, re-
NAMED at the close of the war uudisbursed. 1t
was said to be on deposit in the Bank OF Eng
land, but not in the names OF Confederate
officials as such. According to the report now
current, n consultation was held III regard to
the disposition of this fund. 1t was determined
that, as the only remaining assets of the late
rebel Government, this money rightfully be-
longed to the creditors of that Government who
had taken its bonds. At the suggestion OF Mr.
BENJAMIN, formerly of Louisiana, and since the
war of London, holders of Confederate bonds
we're advised by advertisement 70 make known
their addresses. The persons in whose name
the Secret Service fund was held then pro-
ceeded to negotiate for the surrender of the
bonds upon payment of one or more OF the
coupons due. In many cases, it is stated, the
bonds were gwen upon payment OF single
coupon. In other cases more than one coupon
was paid until finally, according to this report,
the whole of the Secret Service fund was dis
bursed to the creditors of the dead rebellion.
So far the story is not particularly difficult of
| belief, Mr. Benjamin aud the other gentlemen
who acted as trustees for the fund were probably
in such q position that neither one of them
could have absorbed any of it, even if he had
| been so disposed. Nor is there reason to be-
lieye that either of these men, though willing to
violate their oaths toward the Government of
| the United States, was dishonest in the sense
| that he would have been willing to secure any
personal gain for himself at the risk Of an ac-
cusation of criminal breach Of trust. But the
| question now arises, what has become of these
| bonds
The story which is now circulated is that the
| Confederate bonds, after having been surren-
dered by the former holders, were Immediately
destroyed This is a shade too much for belief.
There is not prominent Confederate. whether
skilled in the law, as Mr.. Benjamin undoubtedly
was. or wholly unskilled who has not persuaded
himself that these bonds must some day be paid
| nv the United States Government. Tue lawyer
considers that the Confederacy had certain
legal status as de .factO Government and could
hold assets and incur debts, and that its con-
quest entitled the conquering Government to
ali the assets and also made it liable for all the
debts. Now that the "Confederacy Is IN the
saddle again." Mr.. Cleveland having been
elected, we shall see before long claims made
on behalf of the holders of Confederate bonds
MIR. Garland, as Attorney General, is apt Ia
treat this claim quite unlike that of the
creditors against Virginia, and it will be in
teresting to observe in the not distant future
what the Democratic Administration finds ii
convenient to do about such a claim To reject
it with scorn would be to cast reproach upon
the memory of the rebellion, which it seems To
be one of the principal objects of this Admins
tration to keep ever fresh and green.