Mr. Bigelow to Mr. Seward
No. 232.]
Legation of the United States,
Paris,
December 26, 1865.
Sir: The note which I enclose from the
banking-house of Bamberger & Co., received subsequently to a
conversation held with me yesterday upon the topic to which it refers,
illustrates the inconveniences which our national securities experience
in European markets for the want of a specific undertaking by the
government to pay them, when they fall due, in gold.
If the Secretary of the Treasury should have anything to say in reply to
Messrs, Bamberger that would tend to diminish this difficulty in the
eyes of its clients, the effect would be shared by a large circle of
influential capitalists, and by a still larger, if circumstances
permitted me to give to it the publicity of the press.
I am, sir, with great respect, your very obedient servant,
Hon. William H. Seward, Secretary of State, Washington, D. C.
Mr. Bamberger to Mr. Bigelow
Bank of Credit and of Deposits
of the Low Countries, Rue Dronot,
No. 8, Paris,
December 26, 1865.
Sir: Referring to the conversation which I
had the honor to have with you yesterday, I have to thank you for
the reception which you accorded, and for the documents which you
kindly transmitted me.
Whilst no doubt can be entertained concerning the payment, in specie,
of the coupons of half-yearly dividends upon the obligations of the
said debt of 5-20, nothing in the text, either of the obligations or
in the different acts which I have read, proves that the redemption
of the same debt, either at the expiration of the twenty years or in
anticipation, may not be effected in paper money, provided this
paper be at that time a legal tender in the United States
It was only because you kindly empowered me, that I took the liberty
to request a further explanation upon this point, if it be possible.
From what I have the honor of laying before you, such an assurance,
if it could be given, would certainly be an additional inducement
for investing in American securities.
Accept, sir, the assurance of my most distinguished
consideration,
The Director, J. B. BAMBERGER.
M. Bigelow, Envoy
Extraordinary and Minister Plenipotentiary of the United
States of America at Paris.
