The Express.
London, England, 1846-10-29 00:00:00

FOREIGN FUND&

1 per Cent Granada Bona., 2O
Ditto Deferred, 3{
SDifter CL
Account,M NO.!. 16, 11
S per Cent. Portuguese, 41 40
4 ,per Cent. Portuguese
4129

.2-lx•-r
-Cent. Spankh Bonds, De-
lerred, 17
per Cent. Spanish Bonds. 371 •
2 per Cent. Venezuela Bonds, De-
ferred, 12
2/ per Cent. Thatch Exchange, 12
SOll

EXCHANGES AND STOCKS ABROAD.
Pasts, Ocr. 27.—Three per Cents., 82.90, 95, 83; Five per Cents,
117.95, 118; Bank of Prance, 3471.15.
Bsusaav, Ocr. 26.—Loan of 1840, 1001, 100; Ditto, 1842, 102;
Ditto, 1844, 981; Ditto, 1836, 9G; Ditto, 1838, 731; Loan of the
City, 1832, 101 ; Ditto, 1843, 99; flank of Belgium, 918; Ditto, issue
of (B. 1), 1081—Exchange on London, 25f. 70c.
Aserwaar, Ocr. 26.—Excbange on London, 25f. 70e. ; two months,
2.51. 30c.
VIINNA, OCT. 20.—Five per Cents, 1081 ; Four per Cents., 99 ;.Three
ler Cents., 71; Loan of 1134, 136; Ditto, 1839, 126 , Dank stun ea,
580.
MUM:IMM OCT. 26—Act. Debt, Two-and-a-Half per Cents.,
38f, 391; Three per Cents., 781, 714 ; Four per Cents., 921,
93. Maori. Send., Four-and-a-Gaff per Cents., 88', 04131. Com-
mercial Company, Four.und.a.llalf per Cents., 1731, 1741.—
Exchange: On London 12.10; two months, 12.02; on lLtmhurg,
33.75; two months. 35.31: Paris, 56.37; two months, 56.
Basins, Ocr. 23.-Bt. Sebald Sch. Three-and.s.half per Cents.,
921, 021. Exchange; On London, two months, 0.21; on Hamburg,
GOU marks, 1491, 1491 ; on Paris, 100 franca, 79 1-6th.
MIAICAN LOAN ArFAIHS.—The state paper of their high
mightinesses, the Spanish American Committee, referred to
under this head last evening as to be forthcoming this
morning, made its appearance in course. It comes, more-
over, in the formidable shape of no less than fourteen reso-
lutions. Now as the first alone, if true, was all sufficient
and powerful for every purpose, the waste of time and wit
in concocting all the residue is really to be lamented for
men of business, and very lucrative business too, for the men
of the conversion scheme undoubtedly. The whole, real,
and substantial scope of the matter in dispute is the powers
of Senor Murphy, the Mexican Envoy, to bind his govern-
ment to the scheme referred to. What say the loan and
stockjobhing sages of the committee ? Resolution No. 1.
" That Mr. Murphy, in the arrangement made with the
holders of Mexican bonds, on the 14th of June last, has in
no respect exceeded the powers vested in him for that plir-
pose by the Mexican government." According to a vulgar
figure of logic, which may perhaps be more intelligible in
the particular quarter, this resolution is just the matter of
putting the cart before the horse. Mr. Murphy him-
self, to his copartnery apology, did not venture near
so far. Ile rested his vindication upon the construc-
tive or inferential tendency of a portion of a pars--
graph of his instructions, which taken with the decree
did not bear out the sense at all ; and if he would show
his instructions in entire, which lie has not yet done,
would annul it altogether. The diplomacy of Sussex-place,
Regent's-park, is transcended far by the Puffendorffs, or
Stockendorffs of Austinfriars. Laws of diplomacy, or inter-
national law, indorsed by gentlemen brought up to the stocks
or the docks, must put the Foreign-office out of court, and
consign Grotitus to the Dead-letter-office. The fact is so posi-
tive it cannot be escaped from. How different from the
humble, modest, self denying conduct of the South American
and Mexican Association on a late occasion, the chairman of
which, not unknown in the Spanish-American Committee,
does "not presume to offer any remark" • • • does
"not venture to suggest," 14c., that ll.M's Government
"has toy power," &c.. Yet the same per-on—how changed!
—does not hesitate to join in a resolution of the Spanish-
American body, absolutely presuming to impose upon the
same Foreign-office to which the foregoing creeping passages
were addressed, a construction of diplomatic powers, without
the slightest reserve, to which we venture to say Lord
Palmerston will notwithstanding be very chary in giving
his assent. .

Resolution 2nd of the diplomatic committee imports that
"the Mexican debt is precisely that which the government
authorised to be created." This resolution does not appear
to be at an a natural sequitur from the former. The powers
were in question, and the postulate was their sufficiency.
But here we have not the evidence in proof, but a corollary
quite eccentric from the case in hand. We want the proof
of the powers not exceeded, which should logically follow
the assertion, and we arc abruptly introduced to an extra-
neous question about debt and its amount. We have heard
of ekopping logic, but here we have a stranger species, which
may perhaps be more fittingly described as stock-logic. It
is a feature for colleges or universities to be formed.
It will be a task to wade through to No. 14, having got
no further than No. 2. But we have patience, and shall
perhaps get through the task with time.