Letters from Edward Hazlewood to Mississippi Governor William L. Sharkey; July 14, 1865

Documents
Letters from Edward Hazlewood to Mississippi Governor William L. Sharkey; July 14, 1865

Document Network
Document Metadata

Each transcribed document contains links that connect it to other documents on the same topic in the collection.

People

Haslewood, Edward Sharkey, William Lewis, 1798-1873

Events

Finances Finances--Collecting of accounts

Businesses

Founder's Court (London, England)Stock Exchange (London, England)

Occupations

Judges

Places

Alabama Argentina--Buenos Aires Chile Colombia Costa Rica Ecuador El Salvador England--London Greece Guatemala Honduras Louisiana Mexico Nicaragua Peru Portugal Spain Venezuela

Page 1

Bargains in bonds or stock of Foreign Go-vernments that have not duly paid the di-vidends not recognised.

57. The Committee will not sanction, nor take cog-nizance of, bargains made in new bonds, stock, or other securities, issued by any Foreign Government, that has not duly paid the dividends on former loans raised in this country, unless such Government shall have effected and carried out a satisfactory arrangement with the holders of such stock, bonds, or other securities, on which the dividends have been left in arrear.

passed in 1827

Founder's Court, Lothbury, 14 July 1865
AND STOCK EXCHANGE, LONDON, E. C.

My dear Sir

By the Book Post I send to you an entire copy of the laws of our London Stock Exchange, and I beg to draw your attention to no 57 which for greater certainty I have transcribed at the back hereof.

This law has remained without the slightest alteration since the year 1827 when it was first pro-mulgated, and it has compelled Spain Portugal Mexico, Chili, Peru, Buenos Ayres, Old Columbia Venezuela, New Grenada and Equador, also Guatemala Costa Rica, Salvador, and it will compel Greece Honduras, and Nicaragua to make "satisfactory arrangements" with their creditors—Mississippi or the U. S. for it must comply with this law, or it will prevent either of them from getting any [?] have operated in this market—I am the Chairman of the Greek Committee, with a claim ^against Greece^ of £7,200,000 and I have been instrumental in settling all the others, and know exactly the position

I remain Y Very Truly

Edward Haslewood

The Hon
Judge W L Sharkey
Mississippi

Page 2

Rule 57—The Committee will not sanction, nor take cognizance of, bargains made in new bonds or stocks or other securities, issued by any Foreign Government that has not duly paid the dividends on former loans raised in this country, unless such Government shall have effected and carried out a satisfactory arrangement with the holders of such stock—bonds or other securities, on which the dividends have been left in arrear—

Edward Haslewood
London
reference to debts of Mississippi

Page 3

Founder's Court, Lothbury, 14h July 1865
AND STOCK EXCHANGE, LONDON, E. C.

My dear Sir

In one of my former letters to you I have particularized the items of the entire claim against Mississippi amounting to $16,250,000, but the question is not,⁠—how much does she owe? but how much is she able to pay?⁠—or how much will the United States pay for her⁠—? In all the other settlements of the debts of defaulting States, a compromise being either a reduction of the Capital or of the Interest⁠—or both⁠—The Routine has been, to submit an offer and accompany it with such statistics as will sub-stantiate the fact, that it is a fair offer, and ought to be accepted⁠—A Public meeting is then called and the Committee or Person calling the meeting places it before the Holders, and if it is endorsed by the Committee or such Person it is generally accepted⁠—this acceptance is commu-nicated to the Stock Exchange, and if any one will not acceed (the opposition of the minority) ^he^ is not allowed to, and the Stock Exchange is open

I remain Y Very Truly

Edward Haslewood

The Hon
Judge W L Sharkey⁠—

Page 4

P S. The South American Governments have turned the defaulting indebtedness to good account, having made the best compromise they could for the debt and arrears, they gave land warrants for the amount of the unsettled Balance [gap] These land warrants are receivable for any land the property of the States and they are good titles and to be had cheap⁠—and have lead to emigration into these countries⁠—

Supposing the same thing to be done in Mis-sissippi for the unsettled Balance then the effect would be that emigration would pour into her, instead of the neighbouring States of Alabama & Louisiana

There is no reason why these warrants should not be very short lived⁠—say six or ten years⁠—so that the holders should be compelled to turn them to account, and thus materially benefit the State or else lose all the advantages they offer⁠—