The Sun.
London, England, 1840-01-29 00:00:00

PORTUGUESE BONDS

(COPY.)

(TRANSLATION.)
ILLusTfisous Ste,—Having received your letter of the
3d instant, it behoves me to inform you in reply, that I
have seen with great pleasure that the intentions of her
Majesty's Government, to which I referred in my dispatch
of the 2d December, were duly appreciated by you, qnd
that being made public through the press, met with the
general approbation of the holders of Portuguese stock in
London.
The Government will strive to maintain the confidence
with which you are pleased to distinguish them, and I
can assure you that they are at present occupied in pre-
paring the required plans in order that the Cortes may
enable them, in the present session, to resume the pay-
ment of the dividends on the foreign debt, as far as may
be compatible with the means of the Treasury.
I have stated before the Chamber of Deputies, at their
sitting of the 17th inst., that this part or the public debt
would be particularly mentioned in the Report of the Fi-
nance Department under my charge, which statement was
well received by tho House, as they are certainly desirous
to assist the Government in the adoption of any measures
which may tend to support the credit of the Portuguese
nation, and do strict justice to the claims of all her cre-
ditors.

In conclusion, I beg to transmit to you my thanks fax
the generous offer you made me of your services in Lo
don, of which I shall certairlly avail myself as opportunity
may present itself convinced as I ant that by so doing it
will be the best proof that I can give of the consideration
and confidence you so well deserve of her Most Faithful
Majesty's Government.

God preserve you, &c., &c.
Signed) FLORIDA ROIZ PEREIRA FERRAZ
Public Treasury, Lisbon, Jan. 20, 1840.
To the Illustrious Richard Thornton.

MONEY MARKET and CITY NEWS

(TUESDAY EVENING.)
POST.—We lay before our readers a further corre-
spondence (to he found above) which has taken place
between Mr. Richard Thornton, as Chairman of the
Committee of Peninsular Bondholders, and the Go-
vernment of Portugal, on the subject of the long-neg-
lected claims of his (Mr. Thornton's) constituents on
the Portuguese nation. The continued exertions of Mr.
Thornton (who appears to have more influence with
the Court of the Necessidades than any other individual
that could :be named)..in .behalf of the numerous suf-
farers with whoM he finds himself unhappily, :,asSo_.
dated! is, we ought to premise, entitled to the higheit
praise. It will be seen that he comes to the point
that touches the honour of Portugal most closely,
namely, the distinction that is made between the
home creditor and the foreign. We could wish that
this part of Mr. Thornton's letter had been more speci-
fically replied to. It appears, however, that plans for
the resumption of the payment of the dividends on the
foreign debt are still in preparation, and that they will
be brought forward during the present session of the
Legislature. Let us hope that Portugal will at length
rouse herself, and, as Mr. Thornton recommends, act
with that impartiality towards ail, that no class of credi-
tors shall, for the future, have the opportunity of charg-
ing. her with the commission of an injustice towards
them in particular. The Queen's present advisers must
know perfectly well that the misconduct of their prede-
cessors in office has cast a stigma upon the whole nation,
which is not to be removed unless a. very different course
of policy be pursued in the Treasury Department for the
time to-come.

SUN.—It was reported in the City this afternoon that
Ministers will have a majority of at least 16 or 18 on the
vote that they do not possess the confidence of the
House of Commons. The result excites great interest
in the City.

The Fo.reign Exchanges were steady this afternoon.
Paris, at 25 55 to 25 574- ; Hamburg!), at 13 t 1 to
13 94 ; Amsterdam, at 12 21 ; and Antwerp, at 12 2
to
.12 21,_

The Money Market left off this afternoon with more
briskness than it exhibited in the early part of the day.
It is said that the Ministry will have a greater majority
on the vote of confidence than is reported at the west
end of the town, which only gives from 12 to 13 in
their favour. Consols, for Account, advanced this
afternoon from 91-a to 911 ;• and for Money, from
91i to 91. t. The premium in Exchequer Bills is up to
21 ; and for India Bonds it remains at 33. to ss.
premium. In the other Stocks there was not much
variation late in the day.
The statement in a Morning Contemporary that M.
Moscara had sent more favourable terms to the Com-
mittee of Spanish and American Bondholders is not,
we believe, true. We stated yesterday afternoon
that there was no credit due to the report
in question. The value of Colombian Stock has been
much reduced to-day ;it rallied, however, from 263- to
27 late in the afternoon. Spanish Stock left off at
261 ; Portuguese Five per Cents. at 34i ; Dutch
Two-and-a-Half per Cents. at 52i ; and Brazilian
at 76.

The Market for Shares continues very animated, but
the prices of this morning were not sustained. Great
Western Shares fell to 3 premium ; Brighton to 101
discount ; and Eastern Counties to 10 discount. The
variation in the other shares was slight.

The principal Produce Markets Were very firm this
afternoon, including those for Tea, Sugar, Indigo, Coffee
and Wools.

POLITICAL SUMMARY OF THE
MORNING JOURNALS.

CORRESPONDENCE BETWEEN THE POR-
TUGUESE MINISTER. OF FINANCE AND
MR. THORNTON.

London, Jn. 3, 140.
Stn,—l have the honour to acknowledge the receBipt of
your Excellency's letter, dated the 2d ultimo, announc-
ing your Excellency's appointment as Minister and Secre-
tary of State for the Department of Finance of her Most
Faithful Majesty, and future conveying an assurance as
to the views and future intentions of her Most Faithful
Majesty's present Ministers towards the foreign creditors
of Portugal, which has afforded me the greatest satisfaction.
It is particularly gratifying to observe that the suffering
Bondholders are at length, underyour Excellency's admi-
nistration, about to receive the consideration and attention
which their neglected claims have long most painfully de-
manded. The correspondence which has taken place
between myself (as Chairman of the Bondholthrs in
London) and your Excellency's predecessor, will afford
ample proof of the necessity which exists for some perma-
nent arrangement being speedily made, founded on u satis-
factory and impartial basis, that the foreign creditors may
no longer have the opportunity of charging Portugal with
paying the borne creditors in full, whilst their own equally
jest claims have been now for two years and a half totally
neglected.
t..:oncerving that your Excellency's frank communication
was calculated t' inspire confidence, and tranquillize the
minds of the Bondholders, I have (in my zeal for their
interests, and an ardent desire to uphold by every means
in my power, the honour and credit of the Portuguese na-
tion) caused the same to be made public. I therefore most
sincerely trust that the expectations which have been thus
excited, may be speedily realized, and permit me to hope
that on the present re-assembling of the Constitutional
Cortes of the kingdom, the " Foreign Debt" will form the
very first subject for their. cormidiration as promised by the
late Administration at the close of last Session.
As regards my own individual claim on her Most Faithful
Majesty's Government (the nature of which your Excel-
-lerncy appears fully apprised of) I beg to assure your Ex-
cellency, that I still entertain the utmost confidence in the
integrity and good faith of the Portuguese Government,
not doubting but that full justice will be done me, and that
Portugal will faithfully and honourably discharge all her
engagements, and it will afford me the greatest pleasure
to see the credit of Portugal re-established and standing
once more as high as that of any other Government in
Europe. If my services in London can be rendered in
any way useful to your Excellency, I beg you will freely
command them, and have the honour to remain, Sir, your
Excellency's most obedient servant,
, (Signed) RICHARD THORNTON,
To his Excellency Senor Florida Roiz Pereira
Ferraz, Minister of Finance, &c. &c., of her
Most Faithful Majesty Queen of Portugal.