Thursday, March 20, 2008

Tampa Sued for Non-Payment of Civil War Debt

The March 19th Tampa Tribune ran an article of interest saying that the city was being sued for an 1861 promissory note it wrote to the Kennedy and Darling Store for $299,58. At an 8% interest rate, that note now comes to more than $22 million!!!!

This would have been a debt incurred by the Confederate government of the city.

A descendant, Joan Kennedy Biddle, of the 19th century Tampa business, the biggest at the time in South Florida and in the town of 850, has retained a lawyer and plans on taking it to court. It was for implements and ammunition to defend the city.

The city does not feel obligated to pay it, however. According to the 14th Amendment, which came about because of the Civil War, any debt incurred because of an insurrection is eliminated.

There were quite a few comments and well worth reading. A couple of interest were as follows:

drdneast said, "Well if the city can find $22 million in CONFEDERATE currency, I suggest they pay her. File this under 'bad bet' and move on. By the way counselor, the south lost."

shinker said, "WHAT, THE SOUTH DIDN'T WIN? We suck!"

Good Money if You Can Get It!! --Old B-R'er

No comments: