The Express.
London, England, 1851-07-24 00:00:00

PARLIAMENTARY DIVISION.

DEBT.

HOUSE OF LORDS.—TLESDAT, JULY 22.
THE ECCLESIASTICAL TITLES BILL.
ht.ijority ea the mood reeding of the Errtadvetral Tides Bill :
11. R. It. the Due of Gal:orris Oxford
Casale Ides Harrington °ivory
Harrovrby lit. A.aph
Lard Obaseettor Ilardwirta IR. David's
hallabury
134:1124.

The following is in continuation of the communi-
cation, received from the committee of Spanish
American bondholders :
Committee of Spanish American Bondholders,
8, Bruud-street-builtlings, July 2'2.
Venezuelan Debt.

iis;;:te7"
Jerary
!ignorer'
Ka.troul
Longford
Loran
Loneaborough
Mint°
Morley
Morton
Mountra•bel
Malrmesbory
Macclesfield

The following is ar. toid 'a reply to. the Finance Minis-
ter's letter, which was given yesterday :
Moat Excellent Sir,—On the 12th instant I received your
official note of the Bth, delivered to my agent, Senor Jose
M. de Rojas on the 11th. Your Excellency is pleased to
acknowledge explicitly the receipt of my letter of 21st May,
and as I therein refereed to the precious ones, which I
addressed to you on the 7th February and 19th March, I
presume your present answer includes, be implication, the
having received those former ones. Considering the power-
ful reasons that I submit ed to you, and the sacred obliga-
tions renewed by his Excellency the President of the Re-
public, in his message to the chambers on the 22d February
of this year, and his decree of the 27th of the same month,
agreeing with those of Ist October, 1849, and sth June,
1850, ratifying the appropriation of the 771 per cent. of the
fourth part of ordinary duties of importation towards the
payment of interest of the foreign debt, and applying for
that purpose other means that were less urgent fur the public
service—considering also what was said,on the 13th alarch,by
the minister your predecessor, Senor Jost Maria de Beres' on
the part of the government, to the charge d'affaires of her
Britannic Majesty, relatively to those reimbursements and
some efficacious securities that would be forthcoming for
the punctual fulfilment of the engagements of the republic
with its foreign creditors—it has exceedingly surprised me,
and will equally surprise the creditors in England, to
receive your excellency's answer, in which you represent
the situation of the republic as incapable of paying now any '
dividend of the financial year, which is going to close on
the 30th inst., nor any of the overdue interest from the Ist
of April, 1847, when the last payment was made; neither
' the dividend of next October; but only with the funds that
are going to be received on the Ist of next July, for the
branch of extraordinary contribution of duties of exporta-
tion and importation, applied to the public credit, domestic
and foreign, in consequence of which you inform me that
government is disposed to make an arrangement with the
creditors for the overdue interest up to Ist April last; and
in order to liquidate those due from that date to the 30th
inst., your excellency is pleased to Om at my disposal the
12,5001. which are deposited in the Bank of England in the
name of the provisional commissioners for the payment of
the foreign dividends. This answer embraces sundry points
which I am obliged to examine for the illustration of this
business. Your excellency mentions as a cause of the con-
tinued unfortunate situation of the republic, the great ex-
penses occasioned by the revolutions of 1818 and 1849. In
August of the last of those two year. there ceased entirely
all armed opposition to government, and what took place
afterwards was not of such duration as to occasion great
sacrifices, because, from the beginning to the end, in
Macapo or Campo Menages, only two mouths intervened—
a time certainly too short to leave behind any great da-
mage. Thus it can be said that from January, 1819, the
republic is at peace, because that short episode did not
alter it substantially, nor to any extent. This is proved
by the decree issued spontaneouaiy by the executive
power, in order to fulfil their duty for the completion of
the law for ways and means of the financial year of 1849
and 1810, forgotten entirely, but with some plausible reason,
in 1848; only plausible and not just, because, as it has been
properly said by the Mario de Arises, No. 125, of the 18th
of this month, The expenses of the war must be covered
by extraordinary contributions from the Venezuelans, sand
nut by suspending at once and entirely the payment to
the creditors, in order not to destroy the credit in circum-
' stances when it is most wanted to keep up public confi-
dence, and not to fail with regard to contracted engage-
ments." I have said that this decree was spontaneous,
because Senor Ilene represented it thus in his despatch
of 13th March, already quoted, to the charge d'affaires of
her Britannic Majesty, as issued in consequence of the
claim, of the foreign creditors, in which his excellency
committed a great mistake. Those claims began only on
the 28th January, 1850, when I sent to the Minister of
Finance my first note ; and, indeed, they had their origin
M the said decree of Ist October, ordered to be transmitted
*rough direct means by your department, and through the
medium of the Venezuelan consul in London, to the British
creditor'. If there be then a merit with the administration
of the republic in this spontaneity of this just measure,
it must also be allowed, that this merit has been tarnished
by this promise remaining merely consigned to paper with- ,
out any practical result, notwithstanding the strung rem-
sentations which I am unceasingly making both to the exe-
cutive power and the legislature, ever since January 1850.
The income has been, notwithstanding larger in the last
and present financial year, than in all the preceding ones;
the ordinary expenses which have not been large accord-
ing to the official statements, could not have absorbed the
total of the income, and speaking constitutionally and
legally, there have been means to pay the foreign creditors
at least for the dividends of April and October 1850, and
of April 1851, coutiuuing without interruption the subse-1
quent half years. The non-payment proceeds, therefore,
from other causes, which being public and notorious, and
being contained in official notes to the government by some
of the foreign legations in Venezuela, and also by some of
their own administrators of finances, I must be allowed to
mention them, because they are very important to the
right of the creditors whom I represent ; namely, the ap-
propriation of the ordinary revenue towards the payment of
the government paper of several classes, due by the re-
public, which is not to be paid by those funds, not being
ordered to be paid in metalliques by any law, and not in-
cluded in the budget of ways and means; paper, which in
the hands of the original creditors, is of very inferior value,
and which, by that reason, has served, and is still serving
as a food to the most scandalous jobbing for the exclu-
sive benefit of speculators, who have in this way
laid bold of funds, to highly privileged, of the
public credit. This is the cause why there has not been I
any remittance made since the 12,5001. of last July, not-
withstanding the repeated promises of your predecessors,
and even of your good self. For my part, I have expected
with some confidence that the new administration inaugu-
rated in last February, under the presidency of his Excel-
lency Ocneral Jose Gregorio Menages, in consequence of
the intentions and wishes manifested publicly and officially
by his Excellency, would have radically corrected the evil;
bat on seeing what your Excellency writes me in your
communication of the Bth inst., that no new remittance can
be made, except in the new financial year, for the payment
of the current interest, I begin to fear that the 77a per cent.
1 of the duties on importation in the revenue of February up
to this day inclusive does not exist, but has been otherwise
disposed of, which constitutes a violation of the last decree
of 27th February, not only in this part, but also in the other
part of re-payment of the portions corresponding to the
foreign creditors, which had been taken, and which balm
to them, for which reason I made my claim contained la my
despatch of 21st May. In addition to this, there is another
fact, namely, that as creditor of a large amount of the do-
mestic debt, I cannot obtain from the Treasury the pay-
ment of interest which is due to me- from Ist January, 1849
—a circumstance which must confirm me in the expressed
opinion.
Thus much with regard to the current interest, in which'
I include that which was to have been paid at least from
the Ist October last year. Confining myself now to the
overdue interest from the Ist April, 1847, to Ist April, 1850.
In that year I indicated the advantage which the republic
would derive from their capitalisation at 5 per cent. into-
THE GREAT EIRIBITION.—Yesterday the number rest, destining also another 5 per cent. for their redemp-
of visitors was 50,599. The money taken at the doors lion. The ministers Lecuna and Plavarrta, your predeces-
amounted to 2,4381. 14s. sort admitted the advantage, and even the necessity to do
so, it being impossible to the republic to pay such a large
The compensation dispute long subsisting between sum at once. They acted, notwithstanding, against the
the Society of Arts and the Meer,. James and George acknowledged necessity and advantage of the matter, bar-
Monday, who had entered into an agreement to erect an gaining about the interest, whilst that interest is the least
edifice suitable for the " Great Exhibition of 1851," but that is paid to the domestic creditors, and not less than
which agreement was afterwards cancelled upon promise of what is paid in Europe for loans contracted lately by ale
adequate remuneration for outlay, risk, liability, anxiety, tions of first rank, and of unquestionable solvency emit
trouble, and ices, has at length been settled by Mr. tate- punctuality—which delayed the settling of tho maim mod
phensmi appointed sole umpire in the matter, who has occasioned the accumulation of another twelve
awarded the said Messrs. Monday the sane of 5,120/. that overdue interest.
In this situation we have seen the present year of 1311
FOREIGN CONFERF.NCE AND EVANGELIZATION begin without having advanced a single step, except the
BOCISTY FOR 1851.—This is one of the numerous Societies remittance of 12,509/. in July, 1850. I applied then to
which have grown out of the Great Exhibition, having for Congress, asking the effective payment of all what was due
Ira spiel object the supply of means of religious worship in conformity with the contract of 1840, and I expected it
mesedlng is the protestant faith, Bibles, tracts, tic., to would have taken place when the Chamber of Representa-
=lllvisiting London. The first report, just pub- lives sanctioned the project of law for extraordinary con.
:else the society has eleven agents employed as tribution, applying its product exclusively to the foreign
enberesws said provides, with the aid of a succesmon of debt for over due interest; in which way, in or 3 years,
pleaswe isei lie Continent, fourteen religious services every thing would have been covered and put in order. But
project having been altered by the Senate, and its pro-
meet seem dlissent places. The offices of the society this
41 Leiseshm-square• duct applied definitively to the public credit in general, it
ROBBERY AT THE GREAT EXlllBlTlON.—Yester-
injures the rights of the creditors, it infringes that contract,i
which, through the will of one of the parties, who, of their
day information was circulated throughout the Metropolitan
own account, resolves to pay the first year, on account of
and City Police Stations that a ealeo in the Exhibition had
the important sum of 1,200,000 dollars for interest, only
been plundered of a silver medal of the Royal Dublin
128000,
.so that it would alto ten years to liquidate',
Society, 1844 ; a gold medal of the Dublin Society, 1831,
tinutrise wills of the creditors, in tone so
of a
with the name of Bradford on both; and some razors,
ea equal payment. This is one of the motives
marked " Bradford, Clonmel, cutler to Prince which I hail for the explanations which I asked of your
Albert." A second ease was plundered of a silver medal
Excellency in my letter of 21st ult. Your Excellency
of the same moiety. having not favoured me with an answer, I have
THE PROPERTY OP LUICATICIL—A return to pm% now to protest, in the name of my constituents,
Unseat of some importation isepsoling the property of against the said legislative act, respecting its ef-
Lusaka has jest been prinseL There are a number of frets, or want of provision of funds for all in-
nommingons alum, to has, seam which property tercet due, or that may become due in nneemion, If
is adminiseeriA. Reams are gives hem the year 1830. the current interest be not paid; because in us ways the
Of VW (the last yes! given) there me saw in force 30 creditors can or will consent to the delay of the
esmeteleas. The lOW MORS& et the mama incomes of through the will of the republic, their debtor, lOW
the retire ie 110141. 10x 101., and the Nun allowed for sequence whereof I shall again address the next
their maintenance Is 7,9031. 15s. Bd. and renew this protest, together with my claims!° roe:
excellency certainly admits the injustice of the act sine*
A WATERSPOUT was observed a few days ago to pleased to say that the Fre-ident of the Repu'blie is
the north-east of Ba_pmaley, which sucked up a great portion 'Eposen- to make an arrangement with the creditors for that
of the water out of Iliendley Dam. interest. As this arrangement could not be firm and valid
MR. RoGERS, Q.C.—By the demise of this gentle- without approbation of the creditors in England and the
man, the Mlles of Reereder of Exeter and Deputy Judge Congress of Venezuela, there is no doubt time enough that
Advocate Genera became vacant. Mr. Rogers was called your excellency may tell me if government is disposed to
to the bar Ia 1818, sad was the author of works on the law enter into the contract under the two conditions named last
of autism, sad other bid emblems. year—namely, 6 per cent. annual interest, and 6 per cent.

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PAIRS.
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