New-York tribune., 1921-12-08
Irish Bonds To
Be Paid, Says
Fiscal Agent
Representative of Republic
Predicts 5,5OO,OOO In
vested Here Can Be Re-
deemed at Face Value
Brokers Grow Interested
Securities Held as Souvenirs
Now Are Put on De-
posit in Secure Places

Bonds and bond certificates of the
Irish Republic" running into the mill
lions Of dollars, which have been pur-
chased in this country by supporters
Of the Sim Fein cause, suddenly took
on possible financial value yesterday
on the strength of the expected es-
tablishment of the Irish Free State, and
statement by Stephen O'Mara, fiscal
agent and representative of the Irish
minister of Finance at Washington.
O'Mara announced that every bond
purchased in behalf of the Irish effort
for freedom constituted a moral obli-
cation and would be redeemed at it's
face value after the Irish Free State
was established
That also includes the Fenian
Brotherhood bonds issued in 1857 in
connection with the Irish rebellion of
that year, made famous by the story
OF the Manchester martyrs" he de-
clared. There are hundreds of these
in the United States, handed down
from preceding generations to their
albums for their sentimental values,
but heretofore regarded as worthless
from a financial standpoint.
While | can make no comment for
the Irish Free State until it has ac-
tually been called into being" Mr..
O'Mara said, 81 can say that ali bonds
issued in this country and elsewhere
will be worth their face value imme-
oiately after the evacuation of the
Crown forces from Ireland. We are
morally bound by these obligations and
we will fulfill them. Mr.. de Valera and
the present Cabinet have given their
word on the bond issues and the total
liabilities incurred will be completely
met
Total of s5,5oo,0oo
Mr.. O'Mara said that the total of
Irish Republic bonds issued in this
country was slightly more than $5,-
100000.
"In the first loan campaign in 1s2o,"
he said, 1--WE sold $5,30O,OO0. In the
second drive, that now on in Illinois,
not more than $350000 has been SUBJ
scribed. This same issue is being cir
culated in this city, and not more
than $4,000 has been issued thus far"
"Of the Fenian ISSUE" Mr.. O'Mara
added, 81 have little knowledge. al
though we have publicly stated that
all of these bonds will be accepted at
face value in exchange for the later
issues. We have received only a few
of the Fenian bonds in exchange, how
ever, as most of the good people who
have them desire to hold them for their
sentimental value. AS a matter of
fact, a majority of the holders of the
present bonds will desire to preserve
them as sentimental treasure show
ing their part in bringing about the
realization of the freedom Of Ireland"
Mr.. O'Mara said that interest at the
rate of per cent would become pay
able on all outstanding bonds within
six months after the creation of the
Irish Free State. He said that the
bonds for the most part were pur-
chased by poor people. He strongly
urged that the holders retain the bonds
until the realization Of the Irish Free
State.
Taken From Walls
The bonds and bond certificates
which have been issued from time to
time on behalf of Irish freedom sud-
denly took on a new and important lus-
ter in the eyes of their purchasers
throughout the United States yester-
day, as the result Of the news from
Downing Street.
They leaped into prominence every
where overnight, even in New York's
financial district, where speculation
was rife as to their possible future
values, especially for trading purposes.
There was great excitement among
their purchasers. Throughout the
country Irish supporters who bought
them, many solely because Of their In
terest in the cause Of Erin and with
only dim hopes of ever realizing on
them feverishly searched through
trunks, closets and other household
strongholds for the documents, rush
ing off to deposit them in banks. In
New York framed bonds decorating
parlors were hastily jerked off walls
who had decorated their windows with
them as trade assets jerked them un-
ceremoniously from such conspicuous
display and stuck them in the cash
register.