The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-01-03
REfDJTSTFD OR REPUDItTED
SOUTHERN BONDS.
An Insidious Conspiracy Against the South
to Enforce Their Payment Alleged.


To THE EDITOR or THE SITS Sir: A legal
and diplomatic conspiracy against the South
ern States has been in active but yelled ex-
istence for twenty-five years. lts object is
to compel the payment to fore gn and Amer-
can bankers OF $500 900 900. the principal and
interest of bonds readiusted or repudiated
after the carpet bag" governments were dis
placed from power.
Tho means by which it is hoped TO obtain
this enormous tribute il the annulment OF
the Constitution of the United States. and tho
esta bli shmcut OF a semi European court with
Jurisdiction over the Southern States
The principal moves in this campaign have
necessarily been made at long Intervals. and
in moro or less obscurity in order to avoid
suspicion. They are as follows:
The joint resolution of March 3. 1888
which ta) buried the report of the Venezuelan
Commission OF s66-G7. and tb) authorized
the negotiation OF new treaty and tho APP
pointment OF new commissioners instructed
to reopen all claims" regardless Of previous
rejection, public policy or national sover-
eighty
= The Venezuelan treaty or Claims Con-
ventton ne gotiated in 1855. ratification pur-
posey delayed until June. 1889. and publ
cation in the United States statutes withheld
until after the close OF the session OF 1895.
Senator Riddebcrger was always OF the
danger TO the South and final action upon it
was postponed until after the expiration OF
his term as Senator II directed the reopen
ing OF all claims presented before 1858 and
provided for she recognition of the vest ed
interests" OF third parties who had purchased
certificates OF claims against Venezuela.
The new Commissioners were Mr. Findlay
for the nited States and Sehor Andrade for
Venezuela. and Mr. Little. an official OF the
British Government. was selected ns the third
Commissioner The claim" of New YORK
bankers was ~reopened. and Mr.. Little and
Mr. FindlaS decided acting as a majority
that Venezuela must pay the face value and
thirty-three years interest on $500. 900 of
bonds which had been issued in 1898. read
lust ed in 1851. and dismissed 10y the commits
sion appointed under the treaty of 1866. This
decision established precedent against the
Southern States.
a. The liberal financing OF an agitation in
the Northern States to develop public senti-
ment in favor OF arbiirating all differences
with Great Britain and other nations
The Oluey- Paunceiote treaty OF 1897
which ordered that questions IN which
particular state is concerned should be sub
United 90 European Judges, and which i'm
peratively provided that financial claims"
or groups OF financial claim. arising ont OF
The same or similar transactions should be-
finally and irgeNocably decided by the King
Tho Hague convention. in which "fnan-
ccaled in hc phrase Legal questions. whether
already existing or which may eventually
The South Dakota law authorizing the
Governor 90 accept donations OF bonds
and 70 bring speculative sun 10 coIlect
The South Dakota Suit against North
Carolina to recover on slOOOO OF read iusted
bonds donated to South Dakota by associate
5. The proposed arbitration treaties With
every European country, making Arbitration
compulsory IN all cases Of the judicial order.
g., legal questions and questions involving
the Interpretation OF treaties
II Is not to be Inferred that the American
statesmen who have occupied onclHl places
during the past wentY years have been aware
OF the full significance Of the effected and
projected laws and treaties They We're so
Infatuated by the thought that their fame
would be perpetusted as apostles Of peace
10 this War-lovue world That they became
Europe tlattered and caJoied by masters
OF stAtecraft they forgot that European
State bonds and seQuestratcd Couiederate
bonds sequestrated in opposition to the tenth
article Of the treaty OF lla'
The Hon John W. Foster president OF inc
International Arbitration Committee. The
Moore. members Of he executive committee.
were connected with the state Department
before tho Venezuelan treaty WAS published
in the United States statutes. Tho Hon.
Charles ; Hamlin. active in the arbitration
propagnndn was an of1cial OF the Treasury
Department while the Olney-PaunCcl
treaty vas being Hmb guously constructed
An Of these sincere and able advocates Of
international amity' VIII be APPALLED, 10
learn that the two treaties. construed to-
gether would hnve inflicted AN almost ire
rievabc loss upon the Southern states.
European diplomats aud luHsts, however.
are cold hearted enough 10 have insisted TINT
the same law which WAS enforced upon Nene-
Huela should be meted out ~ he same manner
to Virginia aud the rest Of the South.
II is to be hoped that there will soon be
a number OF resignhtons of guileless Amcri-
cans from the International Arbitration
and Collection Association and that the
eminent New York banker who on Nov y
issued circular requesting letters TO be sent
10 he United States Senate urging tho prompt
ratification OF the arbitration treaty. and
who on Dec. "a endeavored TO induce Virginia
10 bring suit against West Virginia for 80
DOO. OOO OF bonds and who on Dec. 10 acted as
general manager Of the New York arbitration
meeting. will seek some other method OF
promoting the peace Of the world
Let the Constitution OF The United states
and the Declaration or Independence remain
as the foundations Of our Government. and
let MS have peace between the states OF this
great American republic +. MCCAHFN.
PHILADELPHIA, Dec 30.