The Sun.
London, England, 1847-01-09 00:00:00

MEXICAN BONDHOLDERS.

From the following documents, which have been re-
ceived by Messrs. Schneider and Co., it will appear that
the agency of the Mexican Government is to remain in
their hands, but that the conversion which was so re-

cently sanctioned is now repudiated, or, what is the
same thing, referred to the consideration of Congress
for a decision as to whether, " under the present afflict-
ing circumstances of the country," it is expedient to
permit the tobacco duties (pledged under the conversion)
to go into the hands of their foreign creditors. It is to
be hoped that the history of this affair will suffice to
render similar juggles, henceforth, impossible. All
" conversions" of public debts have their origin in fraud,
and in the present case the Mexican bondholders would
have reason to congratulate themselves if the final result

could be to restore them to the position they occupied
before the transaction was attempted:—
"Mexico, October 30, 1846.
"His Excellency the General encharged with the
supreme executive power has been pleased to determine
that you immediately resume the agency of the Re-
public in London, receiving, to that effect, from General
Don Josh M. Mendoza, the documents, papers, and
everything else relating to said agency, which you
may have delivered to him under the orders trans-
mitted by the former packet, and that you continue
in the discharge of the duties of the said commission in
the same terms, and under the same conditions and in-
structions which you previously had, without, in this
respect, making the least variation; on the understanding
that the business being now arranged with Messrs. Man-
ning and Mackintosh, of this city, as representatives of
the parties interested in the new bonds issued in London,
relative to said bonds, and the necessary orders being
issued for the payment of the first dividend in conformity
with said arrangement, you may proceed to announce the
payment of the said dividend, and carry the same into
effect at the appointed time.
" By order of his Excellency, I communicate this to
you, and transmit it likewise to General Mendoza for the
corresponding object. God and Liberty.
" HARO Y TAMARIZ.
" Messrs. John Schneider and Co., London."
" MINISTRY OF FINANCE.
(Section 1.)
" Mexico, Nov. 28, 184 G.
" Under this date I say to General Don Jose M.
Mendoza, the Mexican Charg6 d'Affaires, what follows:
" His Excellency the General intrusted with the
supreme executive power has examined very carefully
and scrupulously the very important business of the
conversion of the Mexican debt in the city of London,
and the creation of the new Consolidated Fund, effected
in virtue of the contract entered into in this capital
on the sth of March last, between the Supreme Go-
vernment and Messrs. Manning and Mackintosh, and
the subsequent contract relative to the payment of
the dividends; and weighing well all the difficulties
of this very important affair, which seem greater and
greater under every aspect for the credit of the nation,
both as regards the war which it is sustaining against
the American invasion, the heavy responsibillities which
press upon the public Treasury, those which especially
weigh upon the tobacco revenue, and which is specially
made liable to the payment, if the conversion of the debt
is complied with in all parts—and this when the blockade
obstructs our ports, deprives us of all receipts of duties
from the maritime custom-houses, and when we most
need all our revenues—his Excellency considers that the
meeting of the National Sovereign Congress being so
near, having been appointed for the 6th of December
next, the final determination of this matter ought to be
referred entirely to its decision, and he has determined
to do so accordingly, handing over all the particulars
relating thereto. His Excellency doubts not that the
National Congress will be animated, as he himself is,
with the most lively desire of giving a satisfactory issue
to the business, which may demonstrate the constant
good faith of Mexico, and that, as far as may be in her
power and the present afflicting circumstances may
permit, she will exert herself to appear by her acts as
frank and loyal as her character and intentions always
have been. In stating this to you by supreme order for
your information, I protest to you the securities of my
consideration and esteem.'
" And I communicate it to you by order of his said
Excellency the General, for your information.
" God and Liberty,

"‘ VILLAMIL.
" Messrs. John Schneider and Co., London."

THE CRIMINAL CODE OF FRANCE.—The Minister
of Justice has just appointed a commission to examine
the modifications to he effected in the Code of Criminal
Instruction. He himself acts as President, and M. Mes-
nard, Peer of France, as Vice-President.

OMNIBUSES AT ONE HALFPENNY A MlLE.—Yes-
terday a number of omnibuses commenced running be-
tween Shoreditch Church, the Bricklayers' Arms, and
the Elephant and Castle, conveying passengers the entire
distance, upwards of five miles, for threepence.