The Republican. [volume] (Oakland, Md.) 1877-current, 1889-11-09
Those Confederate Bonds.

Every now and again we are re-
minded by some new move of the
Confederate bond-holders of the folly
of Englishmen some twenty-five
years ago. when their sympathies led
them astray, and when. yielding to
the tempter, they put their money on
the wrong side.
Many changes have taken place
since British money was given for
this worthless paper. Not a few of
the original money lenders have
passed away. Some, however, re-
main and in most cases the bonds
remain, if not in the hands of the
original parties. in the hands of their
heirs or Others to whom they have
been sold for next to nothing. There
can be no doubt that in many cases
where misfortune has befaIlen fam
lilies these bonds have been parted
with for such money as they would
bring. In any case there are mil
lions of dollars represented by conFed-
crate bonds yet IN English hands.
Although hope has fluctuated much
and often, there has always been a
sort of latent conviction that this
Confederate paper represented mon
ey, and that some day, sooner or
later, the money would be fOrthcom-
ing. To US. on this side. it does not
seem as if time were working in favor
of this conviction. The face of the
Southern States is changing rapidly.
An entirely new South is emerging
from the ruins of the old. There is
reason to believe that at no distant
day these States will reveal pros
perity undreamed of in the paluiest
of old plantation times. But when
that time comes all the old C0nfeder-
ate leaders will have passed away.
New men will have arisen, who will
have new obligations, and in some
cases. probably, other Indebtedness I;
but they will have small interest in
Confederate bonds, and but slight
sympathy with Confederate bond
holders.
1t is to be feared therefore, that
Englishmen are hoping and trusting
in vain. At they present time they
nj .t ~ r.1I
the aid of the Southern States with
money; but they are resolved if they
come, to connect these fresh obliga-
tions with the old obligations, and
through these new loans to put new
ness of life into the old Confederate
paper. The English syndicate, which
represents the Confederate bOndhold-
ers, is credited with some novel
schemes for giving effect to this pur-
pose. One of these schemes is to get
one per cent paid on the Confederate
bonds. and to put the percentage thus
received on the entire debt at a COM
pound interest. in the hope that in
few years they will, through this
means, get the face value, or as near
as may be the face value, of the
bonds in their possession. To the
Southern people Who want to bor-
row they say PAY one per cent on
the Confederate bonds, and you will
have all the money you want"
John Bull, with ell his merits.
sometimes converts one of his virtues
into a vice. His bull dog tenacity
has sometimes stood him in good
stead, but when it takes on the form
of sheer unreasoning stubborness, it
dUes him harm. There are none so
blind as those who will not see. This
is the Englishman's case in regard
to these Confederate bonds. He can
never by any process galyanize them
into life. But if he chose to put his
money out here, on any such faith,
we have no reason to find fault
Philadelphia Press.