The Sun.
London, England, 1841-11-23 00:00:00

EVENING SUN u

•
i - A FEMALE IMP .6R. --- ~
Some few years ago, a young a
,701utiful woman '11": 0
_v_ . :- , - rlse
made her appearance in the Iles d' -..re.s;'and became,
the attraction of all the gallants of :place, but con-513k.,
)
• fined her favours to the veterinar --).la3t ef a regi' `"
meat of horse-chasseurs, recently arilvled•Arlii'lifeica, :1' /
and with whom she came to Paris, reflgralt447, kj
of Arabian horses sent by Abd-el-Kader as a
present tir'
the King. She was then known by no other appellee
tive than "La Belle Laure." Yesterday the same
being made her appearance before the Correctional Tri-
bunal, still young and handsome, but meagre, pale, and
exhibiting all the traces of long distress or devouring
passions. She was brought there on the complaint of
A woman, named Dallichamp, and a journeyman boot-
maker, named Mahuret, who related the following story
In March, 1839, the prisoner arrived at the Hotel des
Etats-Unix, by the diligence, under the name of Mme
Dubnst de Ligny, ar d immediately wrote to Madame
Dallichamp, requesting a visit from her, and, on her re-
fusal to conic, went to her apartment, and by talking
familiarly of several persons of Lyons known to Madame
Dallichamp, gained her confidence, and prevailed upon
her to receive her as an inmate, to furnish her with food
and clothing, arid even money, though the poor woman
had no more than what she earned by making umbrellas
and parasols, a work she offered to teach her guest. Her
first story was that she had formed a too close intimacy
with a person at Lyons, named Dubost, an acquaintance
of her hostess, who was to come to Paris to marry her.
In course of time she changed her tone, and declared
that she was the daughter of the Count de Ligny, wko
had from mercenary motives forced her to marry the
Count de Weracque,.who was 70 years of age : that
having committed herself with Dubost, she bad fled
from Lyons, to avoid the vengeance of her husband 4'4
father. This new tale only increased her interest with
her dupe, and drew also into the snare the eonridainant
Mahuret. In the course of time the soi-di•sant Coun-
ters was delivered of a boy, who was seat •,0 Montargis,
the two deluded people paying all P:xpenses. This,
however, was not without hope of 'profit, for by way of
recompense the Countess gave t'aena a written engage-
ment for 40,000 f: She still 'Kept up the cheat by re-
ceiving and writing almost ()lily letters, as from persons
of the highest distinction, the postages of which, to an
amount of 600 f., were paid by her victims. At length,
urged by their well-meaning instances, and probably
finding this source beginning to fail her, she went to
Aignan le.Duc, near Chatillon, under pretence of im-
ploring pardon of her offended relatives:but in truth
only to explore a new mine. Here, however, she failed,
and was taken up as a vagabond. At first, Madam.
Dallichamp and Mahuret claimed her, and obtained her
discharge, paying all the costs. Soon afterwards, how-
ever, they became enlightened as to the real character
of their protegee, and placed her in the hands of justice
as a swindler, who hail defrauded them of more them
7,000 f. The enterprising lady, at the bearing, confi-
dently asserted her being the daughter of Count de
Ligny and the wife of the Count de Weracque, and
that she had a right to assume the title of Countess
d'Aidemont-7that all these branches of her family were
rich and powerful, but refused to tell where they or
their proper ty were, from fear of the anger of her father.
The facts of the complaint, however, being proved, the
triple Countess was condemned to imprisonment for 13
months. Gali,gnani's lliessen,ger.

DRAMATIC IN TELL IGENCE,
There is a strong rumour (we can yet treat, it as
nothing else) that we are not only to have C. Kemble,
but his daughter, Mrs. Butler, again on the stage titer
Christmas. This, in fact, as far as regard one •,,f the
individuals we have named, is only a repetition, of infor-
mation which we communicated to our readers several
months ago, when we adverted also tP, the supposed
cause of the 're-retina of C. Kemble v., the stage. Since
then we were tald (as we believed) that there was no
such reason for the renewed expet'iment of fr.ir modern
Betterte,u ; but the story is revived, and it seems put
upon, a fair footing when it is said ;'bat the veteran still
hankers after a new opportunity ;or public exhibition on
the boards of Govent•gardea a:A
to hear that his health and str,
nwe are most happy
gth are such as to en-
able him to sustain parts
Penruddock. With re Hamlet, the Stranger, or
card to the statement that C.
Kemble is to be su
Prr.,rted by Mrs. Butler, we must be
permitted to doub
It until the intelligence reaches us
in a more authe-ntic shape. We can see no sufficient
ground for se.,h a course, and many against it, with-
to the facts that Mr. Butler is a rich man,
andou t atdhvietrtfrii:„s- rs.
Butler always avowed her aversion to a
profmnot, to which she was only driven by the necessi-
ties of ter family.
Ttere is another report current of considerable in-
IP.:est, to which we have not hitherto adverted, because
we waited to hear some confirmation of it. We allude
to the assertion that Mr. Young also is about to revisit
the glimpses of the foot-lamps, and to go through a
round of his principal characters. One of these ru-
mours seems inconsistent with the other, for C. Kemble
and Young would take much the same line of partt—
Hamlet, Macbeth, Othello, &c. If, indeed, they could
be induced to appear in the same tragedies, as for in-
stance in Othello, it would form a most singular attrac-
tion ; but Young would be quite sufficient of himself to
fill a thi)atre for many nights. They could hardly act
together in Venice Presei ved, for though Young was
and would be famous as Pierre, a younger tragedian
than Mr. C. Kemble, at seventy, must be found for
Jaffier. It is said that the Queen has especially re-
quested,Mr. Young to take his place again upon the
boards,- that she may have an opportunity of seeing
what good tragic acting of the old school really is ; but
we doubt the truth of what we are told upon this point
now just as much as we did a season or two ago, when
a report of the same sort was got up in town as an ex-
cuse for C. Kemble again to come forward in public.
Such an excuse cannot be wanted by Mr. Young, if
he think fit to give himself the trouble of getting up
some of his great parts. He retired in the vigour of
11:s life, and that only a comparatively few years ago ;
and if he will consent again to gratify the town, all we
can say is, that the town ought to be, and will be, very
much obliged to him.

We mentioned some time since that the Sub-Com-
mittee of Drury-lane had come to the resolution of ex-
pending a considerable sum of money upon the house
beyond what was originally calculated. It now appears
that Mr. Beazley, the architect of the theatre, has
made his report, and the result is, that 2,000/. will not
cover the necessary outlay. Of course, in a building
of such magnitude, even 2,000/. will go a comparatively
little way ; but when, as some months ago, it was ge-
nerally stated that 5001. only would be expended by
the Committee, t'ae inadequacy of the amount could
not fail to strike everybody. We think that the pro-
prietors will have reason to think themselves very well
off if the whole of the first year's rent to be paid by
Macready be not absorbed by the inevitable repairs.
We are happy to learn that these works will not inter•
fere with the commencement of Macready's experiment
on the 27th of December next, as we announced early
in the autumn. Of course, under the terms of his en-
gagement at the Haymarket, he will not be able to
if
they fo r
reallys uc parts
ar
e
produced
Weilend his personal aid as an actor until after the 15th of
January. We see that Webster still keeps in his bills
he
y, King announcemento
Macreadyand
towards the close of the season at the H
st
eho, a C o!,
Haymarket, the
performances will be very useful to Macready as a spe-
cies of public rehearsal before he undertakes them on
his own boards.
The great success of Peak 'e s compound comedy
Court and City at Covent-garden •
gives us unfeigned
pleasure :it will fill up the off-nights of Miss A.
Kemble's vocal performances
Vestris
very
will
haadmirably,veso and
cause
hope profitably. Mad
to regret that she deferred the representatione coal. it
from last season ; and certainly to put it in rehearsal
just after Christmas, 1840, and then to lay it by in
favour of some other pieces until the middle of Novem-
ber, 1841, was hardly giving the piece a fair chance.
This was throwing cold water upon it with a ven-
geance : nevertheless it has been received with the hear-
tiest approbation ; and whatever may be said of Garriek's
peformance in W. Farren's part (under a different
name), we will venture to say that the great tragedian
had not the physical capabilities to render it what his
comic successor has made it. The comedy combines the
whole strength of the company, and it is excellently
acted throughout.
We observe that Miss Homer, Wilson, and Giubelei
are singing at Birmingham, and we hope to good houses.
It is much to be lamented that they should at this mo-
ment be, as it were, banished to the provinces, as if they
had been driven away by the success of Miss A. Kemble.,
We have often s3id that it is tile fault of our Engiish
opera singers, and of themselves only, that they are not
now at Drury-lace. Had they rallied round Eliason
as they ought to have done, and supported him heartily
in his undertaking ar Drury-lane, they might have had.
good salaries, and have been in the enjoyment of a re-
putation which would have rendered Miss A. Kemble's
triumph less complete. We hear that Eliason has
turned his attention to opera in another department
as a composer—and that he has at this moment ready
which has met with the high approbation of
a piece
the musical judges who have had an opportunity of
hearing it. We
d_o not know the subject, but we
ror
un-
derstand that Eliason has taken care to avoid the error
of many modern composers, by procuring a
weil
e".
strutted and an interesting story. It
is
a singular fact
that Meyerbeer was obliged to come to Paris
in order
to obtain words adopted to his style of composition.
Scribe has furnished him with them.
When C. Kean quitted London it Was generally
supposed that he would return to the 1-1
a3market bcs-
fore the end of the current season. It now appears
that he is not expected in town until soon after the 15th
of March, when Webster will commence his new
season. As soon as C. Kean shall have
g
a few of his principal parts,
he will bring sauotnetliberougb,
play, with a Spanish story, which Sheridan Knowlesnew
has written for him. He will be supported in it,ntl
in the other plays where atragie actress eminenceof a required, by Ellen Tree, who has been Performing with
itihs
him at Liverpool, Manchester, B,e.
We shallal be most
most
happy to have her among us once more, being con-
vinced that she does not consult her own reputation
being only seen in London at long •by
intervals.—Sunday
Paper.

:EVEN ENG sUiJ

MEETING OF SPANISH BOND-

HOLDERS.

A meeting of the holders of Spanish Passive Bonds
took place yesterday at the King's Head, in the Poultry,
for the purpose of taking into consideration the situa-
tion in whieh they were placed by the bad faith of former
Spanish Governments, and also to memorialise the Re-
gent of Spain, the Government, and the Cortes, with
the view of obtaining- that measure of justice granted to
the holders of Active Spanish Bonds, which was most
solemnly pledged to the holders of Passive Spanish
Bonds, but withheld from them after the Spanish
Government had publicly advertised that they had
received orders to carry into effect the decree of Feb.
1836, and after their agents had issued and printed forms
for the purpose of converting the Passive debt into Active.
Mr. HADLOW, in proposing that Richard Thornton,
Esq., should take the Chair, said that himself and friends
who were large holders of Spanish Bonds, had called
the present meeting to obtain justice from the Spanish
Government, and the simple means of doing so was by
calling upon them to carry into effect their own decrees
passed in their favour. They did not ask them to do
anything new, but merely to carry into effect their own
terms.—(hear, hear.)
Mr. THORNTON, on taking the Chair, said that although '1
he was no party to calling the present meeting, yet in
compliance with their unanimous wish he was very
happy to take the chair.—(Hear, hear.) He was quite
sure that every gentleman he had the honour to address,
would make up any deficiency on his part, by rendering
him his best advice and assistance.—(Hear, hear.)
Under these circumstances he ventured to accept
the honour conferred upon him in calling- him to the
Chair. As to the justice of their cause, insisting on the
Spanish Government complying with the terms of their
contract entered into with them, there could be no doubt.
—(Hear, hear.) He was not going to defend the Spanish
Government for not carrying the Passive Stock out, as
the Deferred Stock had been ; there could be
no doubt they ought to have done it. Before
he sat down, with the permission of the meeting,
he would read a correspondence that had taken
place between himself and the Earl of Aberdeen,
and also his Excellency Surra y Hull, the present Finance
Minister of Spain. He had called the attention of the
Spanish Minister Surra y Hull more particularly to
Active 'Stock, believing the situation in which Spain
was placed would prevent her from dealing out a full
measure of justice.—(Hear, hear.) He thought with
respect to Passive Stock it ought not to hare remained
Passive to the present hour. He had also a letter from
a friend of his, M. Zulueta, who was invited to attend
the present meeting but who had declined to do so.
That letter, with the permission of the meeting, would
be presently read. He felt bound to say with respect to
his Highness the Regent of Spain, he had the greatest
expectations that he would do as much for them as the
position of the country would warrant, or they could
possibly expect. With respect to his Excellency Surra
y Rull, the Spanish Minister, he was a man of as great
integrity as ever lived—(Hear, kear)—and from
the correspondence he had had with him, he
was quite sure, that had it not been for the
late insurrection in Spain, they would have had their ar-
rears of Active Bonds converted into 3 per cent. stock.
Unfortunately, however, a great personage in France
had supplied Don Carlos with the munitions of war ; and,
further, when he was driven out of Spain, what was
„done ? Why, a French army was placed on the Pyre-
nees to cover his retreat ; so also a French army was placed
to enable persons on his behalf again to cross them.
They were again driven out of Spain, and again there
was a French army to cover their retreat into France.
Had it not been for that great Personage in France—had
it not been for the civil war which had been fomented
here, they (the Bondholders) would have had their
otoney in their pockets.—(Hear, hear). Better days
vrei-e now dawning upon them; lie had no hesitation in
saying, that he had the highest opinion of the honour
and inteTitY of his Highness the Regent Espartero.—
(Cheers.) The Ministers whom lie had chosen showed
that he understood what he was about.—(Hear, hear.)
Thze correspondence which had taken place between him
(the Chairn:an) and his Excellency Surra y Rull, and
Lord A b e7rdewould be read ; and he would seize the
opportunity co itradicting a report which had appeared
in a Morning ,
Tour that Lord Aberdeen had
refused to receive their Chairman. That was not true.
The Earl of Aberck.'en, when he (the Chairman) waited
upon him respecting t::e Portuguese bonds, received him
in the most courteous manner, and did him the
.should be happy to see
honour to say that he
upon
all ,-,:casions, either upon the
him at all times and u
claims of Bondholders upon the! Portuguese or the
Spanish Governments. Ile was n:ost happy to contra-
dict the false report. His Lordship not only received
him in the most flattering manner, but expressed his
cheerfulness and alacrity—nay, his anximes.wish, to as-
sist the unfortunate Bondholders. His friend would now
read to them the letter, received that morning from M.
Zulueta. It was as follows ::--
" 69, King William-street, Nov. 22, 1841.
" Sir,— I have received a letter from Mr. S. Hadlow,
requesting my presence at the meeting of Spanish Passive
Bondholders, to be held this day, and, as your Secre-
tary has expressed a similar desire, I think it
necessary to state the grounds upon which I consider
it my duty not to attend. Having been called upon by
the Spanish Government to advertise the conversion of
the Coupons due on the Active Stock, I replied on the
3d of March last, at once declining to give that or any
other public notice, without having in my possession a
sufficient guarantee of its present, and ff fair prospect of
its future fulfilment. Whilst the advertisement which I
was unfortunately led to issue, by reiterated o; tiers from
the Spanish Government, for the conversion of the Pas-
sive Stock remains a dead letter, and whilst my repeeted
remonstrances, as well on this matter as in that of
the Treasury Bonds, continued to be disregarded, I
stated that it' the Government insisted upon their new
project without coming to a satisfactory arrangement
regarding their former promises, I must be understood
to tender an irrevocable resignation. For, although I
originally opposed both measures, and strongly remon-
strated against both, when once they became the law I
could not help considering them as obligatory upon the
Government. Until a few days ago Mr. Murietta, a
gentleman whose well-known respectability does not re-
quire my testimony, had not accepted the appointment'very
recently made, and to him I have delivered the Commission.
Under all these circumstances, my appearance at the
meeting—whilst it cannot forward the object of it—
might be construed into an attempt to oppose the exist-
ing Government of Spain, and to embarrass their mea-
sures—a position which lam so far from desiring to
assume, that even the reasons for my resignation would
never have been publicly known, if a partial extract
from my own official despatch had not been published in
all the newspapers, as is well known.
. .

" You are authorised to make such use of this letter
as your own discretion may suggest.
" I remain, sir, your obedient servant,
" I'. F. DE ZULU ETA.

" Richard Thornton, Esq., Chairman of the
Committee of Spanish Bondholders."
That was a letter which did great credit to the writer.—
(Hear, hear.) He had once unwittingly led them into a
severe disappointment, and lie did not feel warranted in
putting them in the same situation again; therefore he
thought that the letter did great credit to his motives ;
but still it would, perhaps, have been as well, had he
given more credit to the character of his Excellency
Serra y Rail. The letter. at least a translation of it, to
him as their Chairman, would now be read. It was as
follows : •

Translation.— (Confidential.)
" RICHARD THORTON, ESQ., LONDON.
" Madrid, 31st August, 18-41.
" Sir By my last I offered to you to touch upon some
interesting points of Spanish finance, and its intimate
connection with and influence upon its debt. I haste to
fulfil that promise, confirming anew the idea that the de-
claration which -the Committee, so worthily presided
over by you, made at the meeting of the 6th instant, was
duly considered by me a testimonial of the confidence
which the Spanish nation deserves of its creditors, and
of the deference which the representatives of a class so
worthy of attention vouchsafe to me.
" I would wish to be able to convinceyou that it would
not have been possible, without grave danger to the pub-
lic service, to assign more than 3 per cent, to the capi-
talization of the interests overdue ; and that it would
imprudence to go beyond that rate. Even
have been an
to pay it will cost some effort ; but the nation and its
Government are disposed to effect it at every cost, and
as long as I form a part of the Administration, I will show
that example that my success ors cannot fail to follow.
~i the meanwhile the retrenchments effected will pre.
n
duce their fruits in due season ; public wealth will follow
Peace, and' the
the spontaneous impulse given to it by
epoch will arrive when the ' amortization's will absorb
the portion of the debt in excess of the means applicable
to the burden of its interests.
The first experiment of the sale of the ancient con-
vents, payable in the New "
Three per Cents., has been
most brilliant, and the quantity of the same class of pro.
perties remaining to be sold is capable of absorbing an
enormous capital.
The progressing state of the nation invites foreign
capital, which will find the most safe and advantageous
investment that can be offered. Foreigners who may
come to be proprietors, will meet with every protection;
and the new communications about to be opened will
augment the value of landed property already relieved
from tithes. I make this suggestiont
toyou in case you
should judge it proper to transmit it o
allyour constituents
ngs, d
as a proof that the Spanish nation is, above
sirous of offering advantages to its creditors,
~thi e-
Tanting to
them, at their own pleasure and choice, what they may
select amongst the great mass of properties appropriated
by by the nation to pay them ; and in order that they
may
have a full knowledge of said properties, of their upset
prices and their price after sale, I am contriving
tf
mea-
sures for their announcement in the periodical press )
that kingdom, which, I flatter myself 1611 produce infi-
nitel good, promoting the progress of `amortization,'
and stimulating foreign creditors to establish themselves
with estates in this country, where everything is still in
embryo, and where the want of circulating capital retards
the rapid progress of agriculture, commerce, and indus-
try. From this acknowledged abstract arises the legiti-
mate consequence of its being indispensable to establish
a good system of provincial banks, based upon the Scotch
principles, an idea which forms an essential part of my
economical scheme, and which I will seize the
first opportunity to carry into practice, com-
bining its working with the administration and collection
of the taxes. From your enlightened mind it cannot be
concealed, that any plan of finance not embracing as an
essential basis the reduction of the debt by the sales of
properties, will be incomplete and defective : for Spain,
notwithstanding its natural resources, cannot possibly,
for some years, by its exports and imports alone, calcu-
lated at 500,000,000 of reels, procure for itself any con-
siderabl a sum in hard cash augmented by the natural
loss of it passive exchange in passing it abroad, there-
with to meet the interests on its debt. What would

* The word means the absorption of bonds received in
paymento—E. C. W.

appen to England herself, if, constantly obliged to buy
foreign grain, she should be necessitated to give in ex-
change for that article of first necessity, gold, and nothing
but gold? The result is not to be doubted. d. he B. Tank
would restrict its discounts and circulation ;he inte-
rest of money would rise in proportion ; the price of
goods would be depressed in an inverse ratio to that
of the funds; industry and commerce would be paralyzed,
and society itself sacrificed to this forced order of things.
To avoid these certain evils, I think, and intelligent poli-
tical economists think with me, that the salvation of the
country depends upon the sale of her national properties,
because its being certain that at present there are not
wasted less by estimate than 300,600,000 realst, and it
will fetch by sale three times the amount, namely,
10,800,000,004 (whilst paper ranges only at 30 per
cent.), the greatest part of the consolidated debt may
with certainty be absorbed by this mortgage, relieving
the estimatesit of the corresponding interests.
" From this legitimate reduction will follow another
benefit of great importance, it being obvious that when
these properties are transferred to individuals, those will
augment the number and value of the taxes, and of those
who pay them. On the other hand, the administration
being improved with respect to its personal and material
expenses, and the taxes augmented in a direct ratio to
the national prosperity, it is highly probable that the
revenue will increase to 1,150,000,000 reels, which, sup-
posing the maintainaace of our army proportioned to our
wealth and population, will be sufficient to pay the inte-
rest on a debt corresponding to the rank which Spain
ought to occupy amongst the nations which constitute
the great European family.
" These ideas, hastily expressed, appear to me to be
sufficient to enable you to form an exact opinion of our
present situation, of the future, which we look forward
to, and of the safety of our engagements after.
" I desire that this sincere and confidential explana-
tion may contribute to re-establish confidence as much as
possible, and that you, taking upon you to be the inter-
preter of my sentiments towards your worthy consti-
tuents, assure them of the zeal and efficacy with which
the Spanish Government is preparing to fulfil the promises
made, trusting that Divine Providence will bless its efforts,
which are directed to the welfare of the nation over
which it rules.
" I avail myself of this new opportunity to renew to
you the sincerity of my sentiments of esteem.
(Signed) " PEDRO SURRA Y RULL."
The letter of the Spanish Finance Minister having
been read,
The CHAIRMAN said that letter was dated 31st of
August last, and it was evident that Surra y Rull con-
templated at that time carrying out the decree for the
conversion of the 3 per cent. interest on the Active
Bonds, and if it had not been for the unfortunate civil
war he did not doubt but that they would now have had
their dividends in their pocket. The character of Surra
y Rull stood so high that he (the Chairman) was con-
vinced that his Excellency would never state that
which he (lid not contemplate carrying into effect.
But neither his Excellency Surra y Rull, nor his lligh-
ness the Regent, nor the Bondholders themselves, could
contemplate the renewal of the civil war. War of every
description was most disastrous, and a civil war more
particularly so. The result of the renewal of the civil
war in Spain had been most disastrous, not only as affect-
ing the Bondholders, but as affecting Spain itself. The
country had been thrown back at least two or three years
in consequence, but he hoped better days were dawning
for them, and if the country were blessed
with peace he had no doubt but that his
Highness the Regent Espartero, and his Excellency
Surra y Rull, the Finance Minister, would do every
thing for them that it was in the power of the nation to
d. o, and that her resources were sufficient to do them
justice no one could dispute. He would propose
that a letter, addressed by him (the Chairman) to Lord
Aberdeen, should now be read. That letter contained
the substance of the one he had addressed to Surra y
Bull :

"My Lord—l take the liberty to submit to your
Lordship copies of my letters of the 21st to his Excl-
lency Senor Don Pedro Surra y Bull, Minister of Fi-
nance of her Catholic Majesty, and to request that your
Lordship will condescend to forward the originals (se-
parately addressed) to the care of her Majesty's Minister
at Madrid.

" During the Ministry of Lord Palmerston a corre-
spondence originated between me, as Chairman of the
Committee of Spanish Bondholders, and his Excellency
Senor Surra y Rull, which was conducted through the
Foreign-office as the channel at once affording the
greatest security, most courteous to his Excellency, and
best calculated to keep the question between Spain and
her creditors, and the progress of negotiations, conti-
nually before her Majesty's Government.
" I cannot doubt that your Lordship will readily grant
the same facilities uniformly accorded by Lord Palmer-
ston, and that your Lordship will be pleased to instruct
hor Majesty's Minister at Madrid to use his utmost exer-
tions in favour of the rightful claims of her Majesty's
subjects the creditors of Spain.
" In making this request, it is but fair to his High-
ness the Regent to admit that he has adopted a policy
tending eminently to ameliorate the condition of Spain—
that he has surrounded himself with just, honest, pa-
triotic, and enlightened Ministers, and that the actual 1,
Minister of Finance is zealously and energetically carry-
ing forward every measure tending to develop the re-
sources of his country, diminish her expenses, and in-
crease her revenues, so as both to attend fully to all
branches of the public service, and to the dividends due
in the Foreign Department.
" In consequence, the present Government of Spain
enjoys the confidence of the Committee of which I have
the honour to be Chairman, and of the Bondholders
generally, in a degree superior to any previous Govern-
ment, ever since Spain became their debtor. It is our
firm opinion that our best interests are intimately con-
uected with the preservation of the present wise admi-
nistration of Spain, which has reduced the tariff and esta-
blished the most stringent rules and regulations against
the introduction of goods by contraband.
"I beg most respectfully to observe that while the
Custom-houses of Spain along the coast and frontier are
defrauded of their just dues, it is impossible that the
Treasury can improve as it ought to do, or that a strong,
beneficent Government can exist. Hence it becomes
our deep interest that smuggling should be discouraged
by every means within the compass of the power of
her Majesty's forces abroad ; and as every honest ho-
nourable British merchant has the same interest, I hope
that your Lordship will issue the instructions that may
appear most conducive to the laudable end sought to be
obtained by the Government of her Catholic Majesty.
"If your Lordship will deign to name a day to re-
ceive me and a deputation, upon the subject of Spanish
claims from the Committee, we will have the honour to
wait upon your Lordship accordingly.
" I have the honour to be, my Lord,
_ _ _

" Your Lordship's obedient servant,
(Signed) " R. THORNTON,
" Chairman of the Committee of the Holders of
the Bonds of Spain.
" To the Most Noble the Earl of Aberdeen, her
Majesty's Secretary of State for Foreign Affairs."
The CHAIRMAN, although he had no hand in calling
the present meeting, would take that opportunity of stating
the steps which, he had taken as Chairman of the Com-
mittee of holders of Spanish Active Stock. He had felt that
he could not separate the holders of Active Stock from the
holders of Passive and Deferred, that, in fact, they were to
be considered together; and, on that ground, he would give
the meeting an account of what he had done to forward
the interests of all the Spanish Bondholders—(Cheers)—
and he hoped they would approve of what he had done.
As far as his humble services could be available, they
should always command them ; and he trusted that at
no distant period they would have something like
justice done to them. Surra y Rail was anxious to meet
their claims as far as the situation of Spain would
allow him. He expected that in the course of a few days
a Commission would arrive in this country from Spain
to carry out the plan for converting the dividends due
on the Spanish Active Bonds. He sould, had he been
consulted on the subject, have proposed deferring the
calling of this meeting for a few days, so as to postpone
their assembling until after the arrival of the Commission.
A BONDHOLDER wished to know what the plan was
which the Spanish Government had proposed.
Mr. TASKER said the offer of the Spanish Govern-
ment, with regard to the Active Stock, had been before
the public for some time. It was to convert the
whole interest of the Active Debt into a three per
cent. debt at par. Great efforts had been made
to procure a five per cent. stock, but unfortunately they
had not succeeded.
A BONDHOLDER—I think it was a shuffling transac-
tion.
The CHAIRMAN proposed that the resolutions be read,
and they were read according as follows :--
"RESOLUTIONS AT A MEETING OF SPANISH BONDHOLD-
ERS OF THE CLASS OF STOCK TERMED 'FOREIGN
PASSIVE,' HELD NOV. 22, 1841.
_ " 1. Resolved,—That the holders of Spanish Foreign
Passive Stock have sustained great disappointment and
injury by the non-execution of the decree of Feb. 28,
1836,
providing for the conversion into Active Bonds
of one-sixth the amount annually, upon the basis of
giving in exchange for every one hundred pounds Pas-
sive fifty pounds Active, the latter to bear interest from
Oct. 1, 1836,
Messrs.aeeably to the public notices to holders,
given byand S.
J. de Zulueta and E. Paraja, and
Messrs. J.
Ricardo itcharidmo
meeting
gChoa.,v i
nunder
confidencedate
the upright administration of
uly
15, 36.
Resolved,
that
of Spain, and in the hononurofhis Highness the Regent
of
Don his Excellency the Mi-
nister of Finance, Senor Pedro Surra y Rull,
consider that in order to obta redress, they only re-
quire fairly to represent' their case through his Excel-
lency to the justice of the Spanish Govie.rnment.
requested to ad-
dress the e
" 3. Resolved—That the Chairman
dress the memorial now read to his ATe
Re-
gent of Spain, requesting his attention to Bth and
9th articles of the Decree of Conversion of the 16t
No-
vember, 1834, as affecting the Foreign Passive ilondto the solemn engagement on the face of the Bonds
the two public notices above referred to, and to i!' to
resolutions, of which a copy is to be sent to his Excellency.cs
«4. Resolved—That the Chair.nan is requested to trans-
mit a copy of these resolutions to the Right Hon. the
Earl of Aberdeen ; also a copy of the memorial to his
highness the Regent of Spain ; and to write to his Lord-
ship, begging that instructions may be sent to her Ma-
jesty's Minister at Madrid, to press on the Spanish Go-
vernment the long-neglected claims of her Majesty's
subjects, the holders of Spanish Passive Bonds."
The CHAIRMAN begged to ask, before he put the reso-
lutions, whether any gentlemen present wished to make
any remark upon them ?
Mr. TOMLINSON thought that Mr. Ricardo, the con-
tractor of these Bands, ought, to have been solicited to
attend the meetine•—the man who had brought out those
Bonds, and had made a fortune by them.—(Hear.) Those
who had given these securities ought to be ready, with
the Chairman, to aid and assist the unfortunate Bond-

38,250,000 i. 84,750,0001.
II The Minister here mealts the annual budget would be re-
lieved from the interest of the debt so cancelled.

holders. He thought that Mr. Ricardo and the other
contractors, and their agents, had inflicted a very great
injury on the Bondholders ; they had taken eighty
per cent. from the capital of every gentleman present.
—(Hear, hear.) They had represented their case to
Lord Palmerston, and had been received by him most
kindly ; but although his Lordship had done all he
could for them, it was not his official business. They
ought to have gone to the Legislature, and made the
matter public, and then perhaps these great contractors
and their agents would have been found out, and the
shuffling course which they had pursued would have
been exposed. No one could tell what correspondence
had passed between these parties and the Ministers of
Spain.—(Hear, hear.) Under these circumstances, let
a meeting be called of Spanish and Portuguese Bond-
holders, and let a petition be addressed to the Legisla-
ture on the subject. He had no doubt that they would
have a strong majority in the Legislature.
Mr. Hap Low said that Mr. Ricardo had been solicited
to attend the meeting, and that a copy of the memorial
had been left at his office last Friday. Possibly he might
have been out of town, and it had not reached him.
fir. TOMLINSON said it was very strange that after a
person had given them a list, and told tem that they
had 100/. a year, and then it turned out that they had
but 30/., no explanation could be offered. Bales of goods
to the amount of 50 millions had fallen 50 per cent.—
(Hear, hear.) Yet they were left to struggle with Lord
Aberdeen as they had done with Lord Palmerston, and
he was sure that if they addressed him fifty times he would
not be able to render them any effectual assistance. He was
not officially bound to assist them. The only course
open to them was to call a meeting to petition the Legis-
lature on this subject; it was useless to appeal to Lord
Aberdeen.

The CHAIRMAN fully concurred in what had fallen
from Mr. Tomlinson. If he had been a contractor for
the loan, he would have considered it an imperative
duty to attend and assist the Bondolders. He had ex-
pected that Mr. Ricardo would have taken the chair,
And have endeavoured to assist them in the dilemma in
which they were placed.—(Hear, hear.) He could not,
however, compel Mr. Ricardo's attendance, and having
been solicited to take the chair, he had done it with
the greatgst pleasure.—(Hear, hear, and cheers.) He
fully concurred in the object of the meeting, but
if it had been left to him, as the Commissioners
were now on their way, he would have recommended
that the meeting should be postponed for a few days,
because they might then have gone into the matter
more in detail. But he had no choice when the meeting
was announced. He had felt himself in honour bound to
lay before the meeting his correspondence with his Ex-
cellency the Minister of Finance, and with the Earl of
Aberdeen.—(Hear, hear.) As far as his services could
avail them, they might call upon him at any time.—
(Cheers.) The next step which he should take, as Chair-
man of that meeting, was to submit for approval the
memorial which he held in his hand.

--.........._ .
The following memorial was then submitted to the
meeting :

"TO HIS HIGHNESS THE REGENT OF SPAIN.

" This Memorial of the Spanish Passive Bondholders,
agreed to at a public meeting, held at the King's
Head, Poultry, London, on Monday, November 22,
1841, Richard Thornton, Esq., in the Chair.
" Showeth,---That this meeting is profoundly im-
pressed with the high and honourable sentiments and
actions of your Highness, and feels encouraged by them
to approach your Highness, for the purpose of making
known how much we, as holders of Spanish Passive
Bonds, have been the victims of injustice and oppression
by former Spanish Governments, with the hope of ob-
taining, through your Highness, the fulfilment of those
solemn engagements and pledges made by the Spanish
Government to the holders of Spanish Passive Bonds,
but which have been uniformly violated, whilst similar
engagements with another class of Spanish Bondholders
have been uniformly kept and fulfilled. In the year
1834 the Government of Spain declared itself unable
to pay the interest on its Five per Cent. Stock, and de-
termined to reduce one-third of its capital into
a Passive Stock, and to give a Deferred Stock for the in-
terest then due, engaging, at the same time, that the
Deferred Stock should become Active, in the space of
twelve years, from January 1, 1838, by an annual draw-
ing of one-twelfth into Active Stock; this engagement
has been faithfully kept. By the same law (viz., Novem-
ber 16, 1834) and the same article of it (i. e., 16) it was
declared that ulterior proceedings shall be adopted for
the redemption and repayment of Passive Bonds. One of
these ulterior measures was the operation of a sinking
fund of one-half per cent. upon the Active Stock, to be
replaced annually by Passive Stock, but the Spanish Go-
vernment has net been able to continue the sinking fund
in operation, on account of the expense of the civil war,
so that the holders of Passive Stock lost this advantage;
the second and most important " ulterior measure" was
the law of January 16, 1836, and the royal decree, dated
28th February, 1836, to carry that law into effect,
wherein it was decreed that the debt without interest
(viz., the Passive) should be consolidated in six years,
beginning from that year, viz., 1836, at the rate of
fifty pounds Active Stock, with interest from Ist October,
1836, for each one hundred pounds Passive Stock which
should be draws, in which ever of the six years, should
be to the holders most convenient to send them in.
By the Bth article, the Government reserved to
itself the right of increasing the quantity to be
annually drawn from one-sixth to a larger amount, and so
reduce the number of drawings. The 9th article de-
clares no delay shall take place, and article 17 declares
the sum is designated for the consolidation of the present
year, i. e., 1836. To carry this law and decree into effect,
on the 15th of July, 1836, Messrs. Zulueta and Pareja,
Spanish Commissioners made the following announce-
ment in the London Journals :

•` London, July 15, 183 E..

" ' Conversion of the Spanish Foreign Passive Debt.
—The Commissioners appointed by the Spanish Go-
vernment for the Commission of the foreign debt of
Spain, having received orders from Madrid for carrying
into effect the decree of the 28th February last, relative
to the Foreign Passive Debt, beg to inform the holders
of this stock that they have given instructions to Messrs.
Ardoin and Co., in Paris, and Messrs. J. and S. Ricardo
and Co., in London, to take measures for putting into im-
mediate execution the provisions of the above.
mentioned decree. As the decree provides for
the conversion of one-sixth of the Foreign Pas-
sive Debt annually. should the applications exceed
this amount the lists will be transmitted to Madrid, and
the numbers entitled to the privilege be determined
by lot. The Bonds will be converted into Active Stock
on the same terms as those granted to the holders of the
Interior Passive Debt ; for every one hundred pounds
stock twenty-five pounds money in Bonds, at the price
of fifty, will be given, bearing interest from the Ist Oc-
tober next, payable at Madrid only. Thus the holder of
Passive Stock, who may obtain the benefit of the con-
version, will receive in exchange half the amount of his
Bonds in Active Stock. Upon the arrival of the result
of the drawing it will be immediately announced to the
public, and the exchange will take place so soon as the
new Bonds shall be transmitted from Madrid.

(Signed) P. J. DE ZULUETA,
E. PAREJA.'
" London, July 15, 1836.
" And on the same day Messrs. I. and S. Ricardo, of
London, gave the following Notice :
" Angel-court, July 15, 1836.
" Conversion of the Spanish Foreign Passive Debt.
—Messrs. J. and S. Ricardo and Co., being authorised
by the Spanish Commissioners to carry into execution
the decree of the 28th of February last, beg to apprise
the holders of Spanish Passive Stock, that they are pre-
pared to receive applications for the Conversion of these
Bonds, agreeably to the conditions of that decree.—All
parties desirous of converting their Bonds must send to
Messrs. J. and S. Ricardo and Co. lists of the numbers
in duplicate, according to a printed form, which may be
had at their office, on or before the 15th of August
next, after which period no further applications will be
received.' "

" Printed forms were obtained by those holders who
were desirous of having their Stock exchanged by the
first drawing, which was fixed for the month of June,
1836, to be continued each year in the same month; but
most extraordinary as it may appear, no answer has ever
been given by the Spanish Government to our applica-
tions, for the result of the first drawing, and the law, the
decree, and the official notices, appear to us to have been
rather designed to sport with our misfortune in having
lent our money to the Spanish Government, and our
poverty and misery in consequence, than to afford us
the amelioration we had a right to expect. The Spanish
Government has fulfilled all its engagements with the
holders of Deferred Spanish Stock, by drawing it an-
nually at the rate of 100 Active for 100 Deferred Stock,
while not one single drawing has taken place in Passive
Stock, though at the rate of 50 Active for 100 Passive.
Your memorialists beg leave, therefore, to submit to your
Highness as their just right (the whole of the six years
for drawing Passive Stock having expired) that they
may be permitted in the approaching consolidation of the
interest on Active Stock to present their Passive Stock
for consolidation, each 100 Passive Stock to represent
50 Active, with five years' interest on the 501. up to Oct.
Ist, 1841. These terms, and these only, can repair the
injury we have sustained by the gross partiality and bad
faith of former Spanish Governments, and re-assure us
of the honour and upright intention:4 of the Spanish Go-
vernment towards its suffering creditors."
Mr. WYLLIE wished to observe that he thought Mr.
Ricardo had been alluded to in terms of too great
severity. He (Mr. Wyllie) thought that no contractor
had a right to attend a public meeting for the purpose
of answering questions, without previously consulting
those whom he represented. It was a rule in commercial
transactions that an agent-could norgive any information
as regarded the affairs of his principal without his
knowledge and permission. Now Mr. Ricardo might
have absented himself from their proceedings
from a desire, to act upon that principle ; and
it was not right to visit any party with censure beyond
what they deserved. Mr. Tomlinson disapproved
of an address to Lord Aberdeen, and recommended an
appeal on the part of the Bondholders to Parliament.
Now he (Mr Wyllie) should like to ask Mr. Tomlinson
what good could arise from an appeal to Parliament? They
were not in a position to make such an appeal—they
had no case which could justify them in taking such a step.
There was now at least an honourable Government in
the trouble of carefully reading over and weighing and
digesting the frank and honourable letter of his Excel-
lency
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which as he (Mr. Wyllie)] understood them, were merely
declaratory of the ori •
vial decree, and of the right of the
Passive Bondholders to receive all the attention on the
part of the Spanish Government that was compatible
with the exigencies of their Treasury. Before he con-
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