The Sun.
London, England, 1846-11-14 00:00:00

THE RIVER. PLATE.

FALMOUTH, Nov. 12,—Her Majesty's steam-frigate
Gorgon, Commander Crouch, put into port this morn
ing about eleven o'clock, under canvas, fuel being ex..
hausted, and after three days' hard thrashing in the
Channel with the prevailing easterly and north-easterly
winds.
The Gorgon left Monte Video on the 13th of Sep-.
tember ; Rio Janeiro, 22d ; and Bahia, 30th following,
being bound to Spithead with Mr. Hood, the late Com-
missioner deputed to settle the differences between the
Buenos Ayrean and Monte Videan republics, and who,
accompanied by his son and secretary (Lieutenantsood,
R.N.), has landed here, and will proceed for London
this evening.
By this arrival we are sorry to learn that all the at-
tempts strenuously and faithfully exerted by Mr. Hoot
to mediate between the belligerent parties have totally
failed, even at the moment of completion, Rosas having'
at last refused to come to terms unless the blockade was
first raised, which could not be complied with whilst
his army remained in the province of the Oriental Ra.
public.
It is supposed Mr. Hood has hastened home for far-
ther instructions, and after conferring with the Govern-
ment, will again embark on his mission, and endeavour
to establish a peace.
The officers of the Gorgon represent that matters
were in a very unsatisfactory state in the river on their
departure, and were likely to continue so until hostilities
were put an end to by negotiation or otherwise.
The Gorgon left her Majesty's steamer Devastation
with the Commodore's pendant of Sir Charles Hotham,
K.C.8., at Bahia, on his voyage from Rio de is Plata to
Ascension, where lie would assume the command of the
north-western coast of Africa.

FUTHER PARTICULARS.
FALMOUTH, THURSDAY EVENING, Nov. 12.—Since
writing the preceding particulurs per Gorgon, we have
possessed ourselves of the following more explicit ac-
count of Mr. Hood's mission :
Mr. Hood's mission has failed, the chief cause being
the disinclination the French Minister in the River Plate
had to acknowledge the authority of Mr. Hood.
The point on which the misunderstanding between:
Mr. Hood and Baron Deffaudis has arisen is, " Whether
Mr. Hood's instructions were definite as to raising the
blockade of Buenos Ayres, previous to Rosas withdraw-
ing the Argentine troops from the Banda Oriental."
The result has been, that the truce which had existed.
for a short time between the besiegers and the be-
sieged in Monte Video terminated on the day of Mr..

flood's departure.
. The blockade of Buenos Ayres is still enforced, al-
though a considerable contraband trade is nevertheless
carried on between Monte Video and Buenos Ayres it-
self. The River Parana is still nominally kept open,
the Comus being anchored at Obligado to prevent the
erection of batteries.
When the Gorgon left Monte Video, the following
was the disposition of the English squadron :
At Monte Video.—The Vernon (flag) ' • the Eagle,
MelamPus, Alecto (steam-vessel), and Griffon.
At Buenos Ayres.—The Firebrand steam-vessel, and
the Spider.
At Colonia.—The Satellite.
At Biscayna.—The Acorn and the Lizard steamer.
At Obligado.—The Comus and the Harpy steam -
vessels.
At Moldonado.—The Racer and the Dolphin.
At Rio Janeiro.—The Caracoa am' the Penguin
packet.
The Grecian was on her passage to Monte Video
from Rio.

SPANISH DEBT.
TO THE EDITOR OF THE SUN.
SIR,—As many of your readers are doubtless inte-
rested in the settlement of the Spanish Debt, I venture
to request the favour of your inserting the following
observations relative thereto in the columns of your
paper.
The credit of the Spanish Government having so far
improved as to have enabled it to obtain a loan recently
of 2,000,000/. from native capitalists, at 5 per cent., it
might be supposed that the marketable value of its Three
per Cent. Stock, on which interest is regularly paid,
would be 60. Its reaching this value is, however, effec-
tually prevented by the depressing influence of the large
amount of unliquidated stocks at present in circulation,
as long as any portion of which remains nnprovided for,
Spanish credit can never be effectually restored. But if
a general compromise with the whole of the creditors,
on terms not overburdensome to Spain, could be effected,
then both parties would be immediately benefited, and
Spanish Stock would, in a short time, command a price
not contemplated, perhaps, by either at present.
To effect so desirable an object, I would suggest that
the Spanish Government be invited to incorporate,
within a limited period, the whole of the present dormant
stocks, whether representing the capital of the original
loans, or the arrears of interest• thereon, into a new
'stock, bearing 1 per cent. interest. Such an offer would
probably be acceptable to the Government, and would
stimulate it to make the requisite exertions for carrying
it into effect. It is at least certain that any scheme for
the supposed benefit of one particular class of the cre-
ditors only, irrespective of the interests of the other
parties concerned, would, at the present day, be not only
impracticable but absurd.--I am, A Sir,
PCINELNITIIT your obedient ser-
.TIVI2
v-aaaa...
Nov. 13,1846.

IMPERIAL BRAZILIAN MINING

COMPANY:

Yesterday the forty-first half-yearly meeting of the
Imperial Brazilian Mining Company was held at the
London Tavern, Bishopsgate-street.
Joshua Walker, Esq., presided, and called upon the
secretary to read the report prepared by the directors,
which he regretted was rather unfavourable in its cha-
racter.
This document stated that the negotiations alluded to
in their last report, for the acquisition of more mining
property in Brazil, though favourably progressing at the
time of the last advices from the chief • commissioner,
had not yet been concluded. No impediment, hoWever,
then appeared to an early termination of the treaty,
and the directors hoped it would be their duty before
long to call the shareholders together, and announce
that the property in question was in the possession
of the company, and that a portion of the force of
the Gongo Foco district was employed on that
new mine, which held out the prospect of a
speedy return, and of making amends for the
long delayed hopes which the proprietary had to
bear. In the event of the chief commissioner being
unable to bring the present negotiation to a favourable
conclusion, he had received instructions to direct his im-
mediate attention to another project. Under these cir-
cumstances, the directors hoped the shareholders would
still continue their confidence, and leave these negotia-
tions in their hands without more explicit declarations
on the present occasion. The quantity of gold pro-
duced during the six months ending June, 1846,
amounted to 1831 b. 7oz. 15dwts., being an increase of
881 b. 2oz. 15dwts. over the produce of the six months
ending June, 1845, but still insufficient to prevent loss
to the company; for while the produce of the half-year
terminating in June last realised about 7,3171., the ex-
penditure during the same period amounted to 10,3771.
4s. 9d., leaving a deficit of upwards of 3,0591. The
directors were aware that the establishment was too
large sad excessive, when compared with the produce of
the minep and they were determined on reducing it at
every faVourable opportunity. To supply the deficiency
on the half-year, 53 rnilrees had been sold, and they
produced 7,0391.
The report was adopted, and the meeting separated.