The Sun.
London, England, 1841-02-06 00:00:00

SPANISH FINANCE.

The consolidated debt of Spain, both foreign and
domestic, is estimated at near 6 010 millions of rials (every
million is equal to about 10,3001. sterling), to which the
R. gency decree, published in the Madrid Gazette of the
22J inst., for the conversion of the overdue dividends,
would, if acted upon by the bend or titulo holders, have the
cffcct of increasing it by a sum of near 979 millions, so that
the grand total of the funded debt might then exceed 6,980
millions of rials. The irnp:acticable absurdity of of to
pay compound interest, when the interest on the original ca-
pital cannot be, or at any rate is not, paid, is so very palpablo
that it requires no further comment
at
athan seeminglyt the b bare ec
rrec t
men-
tion of the fact. Agreeably to the
information that I can obtain, it would appear that the va-
lue of the national property still on hand, including the
census, exceeds 1,100 millions of rials; that of the pro-
perty and estates belonging to the high clergy, chapters,
&c., converted into State property by one of the decrees
above referred to, is supposed not to be under 1,950 mil-
lions; whilst the proper.y formerly belonging to tire
Encomiendas, o.denrs Militaires, &c., now the nation's,
stands at a valuation of upwards of 300 millions. The
sums due by the various individuals who have bought na-
tional property since 1834 exceed the large amount of
1,400 millions, including the ceases, because most of
them have not even paid up the ft. st instalment, through
the connivance of the authorities, whereas they have
been in the receipt of the rents or profits arising from
their respective pis:chases The still outstanding ar-
rears by the purchasers of national lroperty in the
years 1821 and 1822 arc about 67 millions of rials;
and so lukewarm are those persons in coming for.
ward nith the needful, that orders were issued laat even-
ing to the interdentes of the respective provinces—there
are six millions due in Granada alone—directing them
to enforce the payments within one month of the
issue of the public notice, or otherwise to proceed to take
possession of the estates and properties, besides enforcing
the bankrupt laws for such balances as there shall still bo
o ping. It will thus seem that the national property, &c.,
and outstanding debts due by purchasers, &c., are valued
at 4,817 millions of rials, whereas the consolidated debt
will now exceed 6,980 millions, independent of a much
more considerable sum existing of certificates or debt
without interest. It consequently follows that sinless a
rigorous but possible system of retrenchment be forthwith
enforced, nothing ultimately satisfactory can be looked for-
ward to on the part ;)f the bondholders, the more espe-
cially so since it has liecome a subject of general notoriety
that MendizAbal is the dc.facto Minister of Finance, as well
as the concoctcr of all measures emanating from that de-
partment.

TIIE COAL TRADE.-TIIE RESTRICTIONS
AT .AN END.—Our opinion has for several years bean cx-
p:osted from lime to time as decidedly against the system
of restriction in the quantity of coals taken for sale to the
London market as most impolitic for the coal.owners
themselves. It always appeared to us that though the
" vends," as they are calltd, had the effect, by limiting
the quantity of coals sold in a given period, of obtaining a
higher price than could be got otherwise, they operated as
a bounty in inducing many other parties to open collieries
in the surrounding neighbourhood, which in all human
probability would not have been worked for ages to come.
This system of reAiiction the coal.owners themselves have
now resolved shall be put an end to; the practice of sell-
ing ally a limited number of cargoes a; they arrive in ro-
tation at Gravesend on the Thames, which has hitherto
been observed, is henceforth to cease.
for though we fear it may be
; and suffering, we do most firmly
that it will place the staple
'Sc arc rejoiced that
peeinsiomnaytlniaotwthbee
longer
this district eventually on a much firmer
believe the
productivec h a n
2gi,e
tei 1
fi
sat
ics:c , takeneprocrla rplace), 1 i
loope ss'
deN,V hwa e :
t e vrre
de temporaryeidedlys sacrifices i
opinion
trade of and
of restriction was continued, the more
severe and trying would be the change when it did
the system
nheceaeltsisiaierril)basmisa.
come,
as sooner or later we felt convinced it must
inevitably come.
The coal-owners will, by this important alteration in the
mode of conducting their trade, be obliged
to do, what is
unhappily experierced to be necessary from tremendous
competition in almost every branch
of
country—they will be compelled business in Ws
greatly to extend their
sales in order to obtain a profit
hual to the produce of their
mote limited vends. That which
evil will, we trust, be ultimately .inay
forh a time
appear
an
found to -c a great good—
not to the public merely, but to the coal ownerstheni
selves, who are a highly respectable, enterprising, and
de-
serving class of individuals.— yne Mercury.
~,,_
I.,EATII OF LORD
HENLEY.We regret to
have pzi announce the demise of Lord Henley, who expired
at five minutes to:eleven c'clock on Wednesday morning, at
the family residelsocie:Whitelaall-place, after a protracted
illness of sexprakmonthi.- :"Itte Learned Lord, as most of
our readers are aware, was a' Master in Chancery, but
within the last few months it' bectrerfng apparent that his
Lordship's disorder would mot allow 0f.14 again resuming
the duties of his office, it was given up to the Right Hon.
1 Sir Worge Rose, Bart, Fur some time tifriliglical atten-
• dams of his Lordship held out hopes to the (Tinily, but lat-
terly, from his bodily strength giving way under his suf-
ferings, no prospect could be entertained of his eventual
recovery. The Rev. J. Peel, and other members of the
family, were nresent at his Lordship's dissolution.
'SA iii3f :,'.'tif.E.—A tailor at Jouet, in
the Nievre, sold his wire, a few days
since, to an inn.
keeper for 300 f., and 251. over the bargainto
victuals. The transaction took place in the presence of
witnesses. The seller afterwards wanted to break his
targain, but the bud er would not consent.