The Sun.
London, England, 1853-12-09 00:00:00

BUENOS AY.RES BONDROLpERS.

A meeting of Buenos Ayres bondholders took place
yesterday, Mr. J. D. Powles, in the absence of Baron
Goldsmid, presiding, to receive a communication from
the committee relative to the appointment of a special
commission about to proceed to that State to represent
their interests. The chairman announced that Mr.
James Giro, a gentleman well acquainted with the lan-
guage and the country, had been elected, and that the
present was considered a favourable opportunity for his
departure, as in the last message of the Chief of the
Provisional Government pointed allusion was made
to the settlement of the public debt. He will ac-
cordingly leave by the packet to-day, furnished
with full powers, in addition to letters from
the English Government, and in introduction to
the commercial agents of Messrs. Baring, Brothers.
As the Revenue of the Republic in its worst period
has been $5,000,000, it is contended that a resumption
of dividends should be arranged on terms not less favour-
able than those agreed to by Chili when the debt of
that country was adjusted, especially since her resources
were at the time scarcely as satisfactory as those of
Buenos Ayres. With respect to the existence of guano
within the limits of the State, and the prospect of the
proceeds being made available for dividends, it was ex-
plained that the question had not been overlooked, but
that Major White, who formerly represented the in-
terests of the bondholders through Messrs. Baring,
had been obliged to return, the unsettled condition of
politics preventing successful negotiations, and his
health having suffered from the climate. At the close
of the proceedings the following resolutions were unani-
mously adopted
"1. That this meeting entirely approves of the step
taken by the Committee of Spanish American Bond-
holders in despatching a special
Ayres to represent the interests commission
thesiroenrdhtoolßdeuresnoins
that republic.
"2. That this meeting, considering the vast delay
which has taken place in satisfying
bondholders on the Republic of Buenos e claims of the
express its earnest hope that the GovernmentAyres, desires to
hoef the re-
public will be prepared, on the arrival
commissioner, to adjust the same without further sleelciayal.
" 3. That this meeting hereby pledges itself to reim-
burse the committee out of the first proceeds of the ad-
justment of the debt, the expenditure to be incurred on
the aforesaid mission."

The annexed extracts of the message of the Provi-
sional Government of Buenos Ayres to the Legislature
of 1853, relate to the state of the debt :

" The public debt is considerable, but it is not of so
alarming a nature for a country which has such unde-
veloped resources as ours. The Government is there-
fore of opinion that it is necessary to attempt its ad-
justment. The Administration of Rosas had indefinitely
postponed the payment of demands on the Treasury,
the amount of which is not yet ascertained, notwith-
standing which it may be nearly assumed, and the debt
anterior to the 3d of February amounts to 45,000,000
dollars, including in this sum the produce of the estates
confiscated by Rosas, the amount of which he ab-
stracted from the cash department of deposits. The
exigible debt, contracted after the 3d of February,
exceeds 3,000,000 dollars, without including a credit
acknowledged in favour of Don Tomas Sloyd Alsey,
which amounts to 90,000 hard dollars, payable by
an annuity of 10,000 hard dollars. The loan of
5,000,000, that the Provisional Government of
the 11th of September asked from the Mint, is
still unpaid, and likewise the interest thereon.
The Government. informs you with pleasure, that the
issue of 10,000,000 dollars by the law of the 17th of
May last, is very nearly covered by the Letras de Reeep-
toria remitted by the Government to the Mint. The
Government also informs you with the same pleasure,
that at the close of the ordinary sessions it fulfilled the
duty it had imposed on itself, to give an account of the
application of the funds voted by you for war expenses.
The GovernMent, in the very midst of the serious diffi-
culties which existed, has continued to pay the assign-
ment of 5,000 hard dollars on account of the London
loan. The Government believes that it would be easy to
make a very advantageous arrangement with the bond-
holders, the result being to raise our foreign credit,
and graduallyC to extinguish a debt which has immensely
increased, only (luring the mismanagement of the Ad-
ministration of Don Juan Manuel de Rosas. With the
Lame exactitude the interest of the public debt has been
paid, and the interest of the 4,335,600 dollars of Treasury
bills, with the diminution granted by Government in
November last."