The Express.
London, England, 1848-09-28 00:00:00

THE STILL UNPAID MEXICAN BONDHOLDERS.

Sir,—Few but have klt the truth of the proverb, " Hope
deferred," &a., and 11041111 more eo than the Mexican bond-
holders. Another mail 'ass just arrived from Mexico, and
many more may succeed in their arrival, without completing
the desired remittance In full, so as to complete the sum
here equivalent to paying a dividend, without which Divan. 1
Schneider and Co., have given this suffering class to nuclei '4
stand they need expect no part of the rennittauces which they
have in hand belonging to them, for they are under agree. It
moot with the Mexican government to allow them 4 per cent. V
for the mosey v hick they remit them on account of the 2i,
bondholders: further, this agreement interdicts their paying
fractional dividends. If the agreement is so, I should like 's
to know by what authority the Mexican minister in London 4
should desire Mr. Lizard', so long back as in a lever dated
the 25th Oct., 1847 (which the city article of the Times the t
SOeh of the mime month refers to), to request Messrs. u
Schneider and Co. to appropriate certain funds remitted to
them hone time ego by the Mexican government, towards
the payment of a dividend, or etre to deposit the sum in
the Bss.k of England, neither of wh'eh orders are attended el
to by Messrs. Schneider and Co., for it is too well known that „1,
they still hold this money under their control. In the same
article of the Times and of same date, it is stated that the II
committee of Spengh American bondholders hay. been note-
fled by Mr. L zardi, in accordance with instructions from the ;
Mexican minister here, that he protests, in the name of the I
Mexican government and also of the London legation, that L
both and each consider themselves entirely di-charged and t
exonerated from any responsibility in connexion with the II
custerly of ouch funds, should the committee persist in the ;4
same remaining in the bangle of Mews. Schneider and Co. 1,1
From this it is too evident that those who should have a

control over the money on its arrival here hove none; for
the desire which the committee has made known to
Mears. Schneider and Co., has been equally unsuccestfol,
as the desire made known to those gentlemen by the
minister from Mexico through Mr. Lizardi ; but the drift of
the minister in thus announcing his protest, and also the
protest of the legation in London, should not be lost sight of,
for it is too palpable that, should loss arise (out of times such
as those of last October), the bondholders must sustain the
leas, he having done his duty in pointing out a course for the
committee to adopt (but which they cannot avail thrum:yes
of), and the minister would, therefore, wipe his hands
of the whole affair. The notice of J. M. L.
Mora, which appeared in the Tines City article
of the 15th September, 1847, deserves particularly to be I
marked. fur it makes the value of bonds issued by Mexico
10,912,2201., which is at variance with vioat the bondh tilers
were made acquainted of at the time of last conversion, for
it was then stated the total amount stood at 10,241,5601., the
former comb ing in excess of the latter, to provide interest
for by 670,5561. 1 venture on forwarding you these remarks,
trusting to your usual sympathy and liberality for permieting
them, with such remarks as you may also think fit to make
upon the subject matter of this letter, to appear in the
columns of your widely circulated and influential paper, for
I have every reason to believe with respect to the gentleman
who was appointed at the meeting of bondholders held on
the 6th inst., on officially being made sequainted, for the
first time, of the Schneider and Co. agreement with the
Mexican government (for, had this been known to
exist at the time of proposing the last conversion,
I may with safety venture to inform you that a conversion.
such as the last, and so onerous to the bondholders, would
not have been submitted to by one of them, without first
having the Schnt ider agreement cancelled,. hich has for its cob-
iect a delay In paying any portion of the remittances that
may arrive here, and a restotte of the entire control
over the remittances on their arrival here, by the Mexican
government) to return to the gentleman appointed to pro-
ceed about the 2nd proximo to Mexico on behoof
of the bondholders, the hope was is:preened at the
meeting, by some highly influential persons among
them, that he should be instructed to procure for
the bondholders, from the Mexican government, the
centred of the money on its arrival hero, and
that all remittances should be sent direct to the Bank of
England (as the Mexican minister here had requested
Messrs. Schneider and Co. to do with the money they had fa
hand when it was thought that extreme risk attended it
when in other hands than the Bank of England, or in the
pockets of the bondholders), to be placed in trust for the
bondholder,. end to be claimed by them half.yesrly whet,
ever the sum might be at that time in the Bank. The
majority of the committee are in favour of this alteration of
the reerttances, and it is with our hon. Chairman and the
majority of the committees that the bondholders have to dea ,
and as I fear no such instructions will be given to the
gentleman in question, in accordance with the hope expressed
at the meeting, owing to the minority of the committee being
impressed with the opinion that for the present the alteration
which this refers to should not be attempted, therefore, un-
less those gentlemen who expressed and urged their opinion
so strongly on this point at tee last meeting, do not at once
stand forward, our agent will be allowed to depart without
any instructions of the sort, and in all possibility without
being instructed to demand explanation on the subject of
the excess of bonds issued over and above what was agreed
upon, and the whole affair of our mission to Mexico
may end in merp nullity ; for I maintain, against the mino-
rity, that now is the time or never to have lull justice done
to the bondholders, and have our claims attended to by the
Mexican government, when not only we have a person
whom theh..ndholders send out, but who will have the sup-
port of the British consul on his arrival in Mexico, hz the
instructions which have been sent him by Lord Palmerston.
—A MEXICAN BONDROLDIL