The Sun.
London, England, 1824-02-17 00:00:00

GitzseE.--Vv'e understand that a financial
operation is now hi great forwardness, under the
highly respectable influence of Messrs. Louou-
NAN, Sos, and O'BuiEs, which will render
the triumph of the Greeks complete. These
Gentlemen, we are informed, have undertaken
a loan on account of the Greek Government,
for one million of stock, at 58 per crnt. ;—and
when the great resources of that fine portion of
Europe are reflected on, in conjunction with the
gratitude which civilized man owes to its former
illustrious inhabitants, it is impossible to doubt
the success of this most patriotic undertaking.—
Indeed, we do not hesitate to express our opi-
nion that the security of the Greek Government
is already superior to that of any of the new
South Am erican States.

Paris Papers of Saturday were received last
night. We subjoin the only article they contain
of the least importance, the interest of which,
however, is chiefly confined to the creditors of
the Spanish Government. It should not escape
netice, that. amidst the laboured endeavours to in-
duce a better opinion of the Spanish financial sys-
tem, not a hint is given of the only measure which
can entitle it to the consideration of foreign coun-
tries—we mean the recognition of those debts con-
tracted under the Government of the Cortes, and
which have passed through every form which
could render a contract binding.
FEE. 7.--The following is the
preamble of the Royal Decree of the 4th
instant, creating a sinking-fund :

" On the 13th of October, 181 b, and the sth of August,
1818, I ordered the arrangements which I judged to be suitable,
to establish on a solid basis the credit of the state, and give se-
curity to its creditors. I proposed to accomplish these impor-
tant ends by assigning to the establishment for public credit
considerable funds, tO be administered by the establishmen t
itself to which I destined them, that they might not in any
case be applied to other purposes. This precaution, which
served and had already been successfully employed by my
august father, had the inconvenience of rendering the ad-
ministration of these funds very intricate and expensive, so
that the net produce was insufficient to support credit with
die promptitude corresponding to my wishes and the wants of
my people.

" The evil was however known, and I was considering of ap-
plying the proper remedy, when my measures were suddenly
impeded by the unhappy events which deprived me of the exer-
cise of my sovereignty, and involved in general confusion the
fate of all the public establishments.
" Reinstated in the enjoyments of the rights of my crown,
my attention has been fixed on the deplorable situation of a
multitude of capitalists, reduced to distress or to indigence
by the total depreciation of the funds in which their fortunes
consisted. Convinced of the necessity of correcting a state
of things which opposes continual and insurmountable obstacles
to the creation and increase of the credit of the State ; con-
vinced that if to meet the current wants of the Government,
it is proper to contract a loan, it is indispensable that there
should be an establishment which shall periodically pay the
interest, and repay the principal, also, at stated periods ; taught
by constant experience to rcnounce the hope of seeing the insti-
tution called of public credit' suffice toobtain those advantages,
and adopting the advice of my Council of Ministers, I have re-
solved to obtain them by other means. In consequence I have
resolved as follows, &c."
Among the numerous articles of this decree, we remark the
following :
" An annual sum of 80 millions of reals shall be assigned to
the sinking fund.
" It shall be responsible for the payment of the new oblige-
tio nr, which, under present circumstances the Treasury may
contract, to meet the current wants of the Government.

" The establishment jailed of public credit' is suppressed."
The 2d article, creating a Committee of Liquidation, is con-
ceived in the following terms :
" The functions of this committee consist in verifying and
liquidating all the debts of the State, proceeding either from
capitals, or the interest of those capitals, or from arrears of pay
and pensions, provided that they are founded on titles anterior
to the 7th of March, 1820."
Art. 5 obliges all the creditors of the State recognized by Art.