Confederate Bonds

Ever since the Civil War, various British investors have hopefully and stubbornly clung to $120,000,000 par value of the bonds of the Confederate Government. The bonds were originally floated abroad to build privateers for the Confederdate States, and to provide other means of carrying on the War of the Rebellion. Most of the bonds were held by members of the British aristocracy, who were sympathetically inclined to the Confederate cause.

When the war was concluded the value of the bonds became problematical. The government which had issued them went out of existence and the U.S. refused, of course, to assume its debts.

In 1884 British and French noblemen who owned Confederate bonds appointed a committee of four trustees who subsequently tried to obtain some money upon their clients' investments, but without avail.

Early this year the case came up in the British courts. It was discovered that all four trustees were dead and that the bonds were apparently absolutely worthless. The actual certificates were accordingly ordered to be returned to the original owners or their heirs. Their only value is that of souvenirs.