The Sun.
London, England, 1846-10-21 00:00:00

No. 16,876. LONDON, WEDNESDAY EVENING SUN, OCTOBER 21, 1846.

BEARD'S COLOURED PHOTOGRAPHIC
PORTRAITS.
At 34, Parliament-street, Westminster; 85, Ring William-street,
City; and the Royal Polytechnic Institution, Regent-•treet.
" A great improvement has been effected by the Patentee."—Times.

HALL OF ROME, GREAT WINDMILL-
STREET, HAYMARKET.

Eight doors from Coventry-street.
Under Distinguished Patronage.—The original Poses Plastiques and

Tableaux Yiyans.

E_,STERN COUNTIES RAILWAY.
NEWMARKET RACES.
On MONDAY, TUESDAY, WEDNESDAY, and THURSDAY,
October 26th, 27th, 28th, and 29th, coaches will run in connexion
wita the ordinary trains leaving London,
yia CAMBRIDGE.
715 .ad 11'30 A.m., and 115 P.B.
Yii CIIESTERFORD.
s'o F.Y.
The Express Train will stop at Chesterford to set down pas-
sengers only on the above days. On Saturday, the 24th, a coach
will start for Newmarket on the arrival of that train at Cambridge.
An additional Train will leave London on Monday the 26th for
Chesterford and Cambridge at 'A before 8 A.m., calling at Waltham,
Harlow, and Bishop Stortford, returning from Cambridge at 6'30,
and Chesterford at 7•10-vat.
Passengers booked through, vii Chesterford er. Cambridge.
By order,
Bishopsgate Station, C. P. RONEY, Secretary.
20th October, 1846.

STAINES and RICHMOND RAILWAY.
The Committee of Management of this Railway have the
satisfaction to state that arrangements have bees made with the
London and South-Western Railway Company, by which the Serip-
holders in this Company will be entitled to an equal number of Scrip
Shares in the New Amalgamater Company, upon payment of 11. 2s.
per share. Such new shares will then be considered as having paid
a deposit of 21. 2s. in the Amalgamater Company, to be called the
" Windsor, Staines, and South-Western Railway Company." Scrip-
holders will be required to deposit the scrip with the Secretary, at
the Offices of the Company, 32, Moorgate-street, on or before
SATURDAY, the 31st of October Inst., between the hours of Eleven
and Four o'clock. A receipt will be given for the scrip at the time
the same is left at the Offices of the Company. Persons transmitting
their scrip by post are requested to write their names and addresses
in full across the face of the scrip. Due notice will be given of the
times and places appointed for payment of the deposit, and for ex-
changing the Shares for Scrip in the Amalgamater Company.
By order, J. C. GOVETT, Secretary.
32, Moorgate-street, Oct. 14,1846.

MANCHESTER AND SOUTHAMPTON
RAILWAY.
19, Great George-street, Westminster, October, 5, 1846.
It having been resolved at a numerous meeting of Shareholders in
this Company, that a renewed application should be made to Par-
liament, in the ensuing session, for authority to construct a railway
from CHELTENHAM to SOUTHAMPTON, power being also given
to the Directors in that event, to allow those who shall dissent from
this decision to withdraw, receiving back their relative poportion of
deposits, after payment of the expenses incurred—parties being
Scripholders, are requested to notify in one of the annexed forms
(copies of which may be had on application), on or before the 21st
day of October instant, whether they elect to proceed With, or
withdraw from the undertaking. If the Scripholders who have not
yet notified their intentions shall determine (in pursuance of the
resolutions of the meeting), to proceed with the undertaking, those
who elect to withdraw, in case they signify their wish within the
time above specified, may receive back the sum of Fifteen Shillings
per Share, with any further sum which may be found duo to them
upon a complete adjustment of the Company's accounts, which ad-
justment will be effected with all practicable dispatch.
The Scrip must at the same time be forwarded to the Company's
Offices, in return for which a receipt will be issued immediately, to
be exchanged hereafter for ITew Scrip by those who elect to proceed.
Scripholders, not being original allottees, will be required to give a
reference.

Professor TURNOUIt, ever anxious to diversify the attractions at
the above splendid theatre, kegs most respectfully to Worm the
Nobility, Subscribers, and the Public, that he has succeeded in en-
gaging one of the finest Modals of the day, who will appear every
afternoon and evening during the week in Professor Tumour's cele-
brated groups of Venus Rising from the Sea and the Lute Player.
The new Classical Groupings, which have been acknowledged by the
press as far surpassing anything •f the kind ever attempted inithis
country, will be repeated during the week, introducing the THREE
COLOURED FEMALE MODELS, natives of Hindoostan, who have
been received with rapturous applause by fashionable and crowded
houses. .

.......„...
Morning Performance at Three o'clock, and Evoning at half-pasi
Eight.—Stalls, 2s. Gd.; Boxes, 2s. ; Pit, lc

Y ORK AND LANCASTER RAILWAY.
FINAL NOTICE.
All applications regarding the affairs of this Company are to be
made at the offices of the Solicitors, Messrs. Chauntler and West-
wood, 8, Gray's Inn-square, between the hours of Twelve and Four
o'clock on MONDAYS and THUBSDAYS.
By order,
October 20, 1846. SAMUEL HOLDSWORTII, Secretary.

METROPOLITAN.SEWAGE MANURE
COMPANY.
The Company have obtained their Act of Incorporation.
The ALLOTMENT of the UNAPPROPRIATED SHARES in this
Company will. be made on TUESDAY, the 3d day of November next.
No Application for Shame can be received after the 31st day of
October inst. JOHN JAMES MOORE, Secretary.
Offices, 7, Vaperloo-place.

ANTWERP, BRUSSELS, and the RHINE.
LONDON to COLOGNL in THIRTY HOURS. (Sea Paging
Seven Hours Only.)
The Antwerp Company's powerful, splendid, and very favourite
Steam-ship ANTWERPEN, THOMAS JACKSON, Commander,
leaves the St. Katharine's-wharf, Tower, every SUNDAY MORN-
ING, at Ten o'clock, returning from Antwerp every Wednesday
morning, at Eleven o'clock. By this steamer and the railroad from
Antwerp, travellers going to the Rhine may reach Cologne in thirty
hours. Carriages and horses may be sent to the wharf up to one
laour before the time of starting, but all applications for the shipment
of goods must be made to the London Agents, Messrs. Lightly and
Simon, 123, Ftnchurch-street, where, as well as at the Packet Office,
33, Regent-circus, Piccadilly, berths may be secured, and every in-
formation obtained.

THE CHEST.

By order,
JOHN WHEELER, Secretary.

To the Directors of the Manchester and Southampton Railway

Company.

Gentlemen,—l hereby inform you that, as holder of the Scrip for
Shares in this undertaking, which I enclose, it is my wish to*
be a party to the proposed renewed application to Parliament for
power to construct a Railway from Cheltenham to Southampton ;
and I elect accordingly to PROCEED with the undertaking, in such
manner, and under such name or title, and subject to such conditions,
as the Directors shall deem best ; and I request you, accordingly, to
issue to me Scrip for Shares in the said Manchester and Southamp-
ton Railway, or any new undertaking founded thereupon, in exchange
for those now held by me.

Name .• •• •• • ....... .• • • • •
Description
Address ..
Reference ••..••.•.•• • • • • • • • z •.• • •
Total number of Scrip enclosed.. • • . • • •
Designating N 05..... • • • • • • • • • • • • .. • • .... • • • • • • • •
• Parties wishing to withdraw will substitute the following words :
—" Withdraw from the Company, and to receive back the balance of
my deposits, In respect of such Scrip, in the manner prescribed in
your Advertisement."

MARKWICK'S 13Aliti•it CHEST PRO-
rECTORS are acknowledged by all to be the very beat
ever invented.

" They are, in our opinion, calculated to secure general public
patronage. We have little doubt hit as this very useful article be-
comes known, It will at the same time become very popular."—
Advertiser, Oct. 13.

MANCHESTER AND SOUTHAMPTON
RAILWAY.

The Committee of Management inform the Shareholders that the
Parliamentary Contract and Supplementary Subscribers' Agreement
will lie for execution at the following places and times, between the
hours of ten and four daily :
In London—From October 22d to October 24th, inclusive, at the
Company's offices in Westminster; and from October 25th to October
30th, inclusive, at the offices of Messrs. Bolton, Merriman, and Dun-
ning, Austin-friars.
In Glasgow—From October 22d to October 24th, inclusive, at the
•ices of Messrs. Buchanan, Ankh', and Co.
In Manchester--From October 27th to October 31st, inclusive, at
the offices of Mr. James Wheeler, 58, George-street.
And in Southampton—During the same period, at the offices of
Messrs. Deacon and Long.
It will ha necessary that parties attending to execute the deeds
should previously have transmitted their scrip to the Company's
offices, and obtained, in lieu thereof, the Secretary's receipt, in ex
change for which New Scrip will be issued after such execution.
Due notice will be given of the times and places, not herein speci-
fied, at which the deeds will hereafter lie for the convenience of the
shareholders.

(Ey order) JOHN WHEELER, Secretary.
19, Great George-street, Westminster, Oct., 1846.

BORDEAUX, TOULOUSE, and CETTE
RAILWAY;
EZPELETIPS COMPANY.
The Shareholders in the Bordeaux, Toulouse, and Cette Railway
(Ezpeletu's Company, are requested to send in their Scrip to this
office forthwith, to be exchanged against Definitive Shares in the
Constituted Company, which will be ready for delivery as soon as
the arrangements for that purpose can be completed.
DAVID SALOMONS, Chairman.
nordsattx and Cette Railway Office, 37, Lombard-street,
London, October 19, 1846.

•
Specimens and Pamphlet explaining their uses, Zoc., and containing
the opinions of the press, will be sent free on the receipt of two post-
age stamps. Depot, 69, King William-street, City. Liberal allow-
ance to the trade.

PUBLICATIONS.

NEW SECURE ENVELOPE FOR NEWS-
PAPERS.
papers, price One Sk
tiliDE LA RITE and CO.'S New Registered Envelope for New
ng s-
Stationers. Per Hundred, may be had of all respectable

EYEBROWS, MOTJSTACHIOS, and WHIS-
KERSI24 produced in a few w
prevented by the use of GRIMSTONE'Sks, and Baldness removed and
drops
of
which
cure
headache
imn
aarrnatie herbs and flowers,
AROMATIC REGENT-
ie, ; it is also a
REGENE-
RATOR, an essential spirit, drawn from
. double in
most foeslvt delightful, fragrant toilet perfume. onlyeSwolcinin
*a
Pamphlmetinu
bottles, protected by the Government stamp, at 4s
7s. ; and double this size, l 1 s. each ; enclosed in
con-
taining testimonials of undoubted authority, entitled " Three
Advice on the Growth and Preservation of the Human Hair, St::,
By post, 4s. 6d., 7s, 8d„ and 125., for money orders only.
Sold 'Wholesale only at Grimstone's Herbary, Hlghgato, near
London ; and by Messrs. Barclay and Son, Farringdon-street ; Sanger,
Oxford-street; Messrs. Butler and Co., Cheapside ; Fisher and Toiler,
Conduit-street ; Mr. Johnston, =dicta° warehouse, 68, Cornhill ;
and by all Chemists, Perfumers, and ethers For Edinburgh, J. and
R. Raimes, Leith-walk; for Manchester, *ruche and Son, Adver-
tiser-office.

TO THE LADIES.
This lady had the following letter inserted in the "Times" news-
paper on Aug. 7, 1846. Reader, remember, this letter was put into
the paper by the lady herself, as a testimony to me.
" Mrs. Weekley, of No. 3. Swan-street, Borough, takes this oppor-
Witty of publicly thanking Mr. W. Grimstone, of the Herbary, High-
gate, for the efficacy of his Aromatic Regenerator, in having com-
pletely restored the hair on her head, after uging itabout four months,
and the whole of her hair is much stronger and mere luxuriant than
it ever was before the baldness appeared.
" Mrs. Weekley inserts this testimony to the virtues of Mr. G.'s
Regenstor, feeling assured that many ladies would gladly purchase
an 11 s. bottle if they were as certain of its virtues as she is, from ex-
perience, not only in the restoration and production of hair in abund-
ance, but as a cure of nervous headache ; as a toilet perfume it is far
beyond any to her taste. She will feel a pleasure in answering any
lady of respectability to the above facts.— 3, Swan-street, Borough.'
In cases of the hair becoming thin, weak, or turning grey, a few
drops, on the crown of the head occasionally, every week, will pre-
vent the hair from coming away with the comb, make it strong, and
prevent it turning grey, rendering the hair luxuriant and curly. A
few drops on your hairbtush before brushing the hair, will give the
hair brilliancy, causing it to curl.
The most delicate ladles may use this delightful product of the
most aromatic herbs and flowers with confidence ; its refreshing
odour removes headache and makes it a most necessary companion
to the toilet. In cases of nevous headache, pour ten or twelve drops
on the crown of the head; if vary bad, repeat it every quarter of an
hour. In most cases relief is certain in ten minutes. It produces
hair on children's heads in a few appplications. If used on infants'
heads, it has such a peculiar cooling influence on the brain as to pre-
vent convulsions, as well as promoting the growth of hair.—See
pamphlet of testimonials.

All lettere addreieed to William Gemstone, Herbary, Highgate

THE QUEEN OF SPAIN'S MARRIAGE.
The marriage of the youthful Queen of Spain
Is certainly deserving of a strain ;
And lest you think we're slighting the " Infanta,"
Our muse shall take the subject up instanto• ;
We've nothing that's political in view,
That we will leave for editors to do ;
While some folks make a business to assail her,
Our business is the business of a tailor.
We want to give a hint (as you may guess)
Touching her royal bridegroom's wedding dress.
MOSES and SON (without a word's dispute)
Should have the orders for the wedding suit.
Garments like these would make the courtiers stare,
Nor would he find their equal anywhere •
The Spanish Queen herself would much admire
The elegance display'd in such attire.
MOSES and SON (which fac they scarce need state)
Are daily having orders from the great ;
And Egypt's Prince, while visiting our borders,
Forgot not to oblige us with his orders.
Then let the Royal Prince about to marry
Take up the hint which these few verses carry;
MOSES and SON will choicely execute
The Priace's order for a wedding suite.
LIST OF PRICES.
VELDT YAWL S. d.
Tweed Taglioni .......
...........• —.Prom 0 7 6
Che9tertield and Codrington Taglionis 0 is 6
Summer Coats in every description and make, including
the registered Coat 1 2 0
Blouses in every material .......... ••••.. • • .. • .froin 0 2 3
manmdeirttYn,esit: endless variety • •.: .... 0 4 6
.... 0 2 2
Splendid Cashmere pattern
lndp eSnui
Black and Fancy Satin, ditto ...................... • 6
Fancy Trousera .. ••••••••••••••• • " • • " •• • • • • • • • • 0 4 6
Black, ditto ........ • .6
Dress Ccats ...... ••••••• • • • • • •• ..
.
Frock ditto •• •• • • •• •• •• •• •

MADE TO YEASTIRI.

Coats, of every material adapted for the season, In any
variety of style and fashion, to order.: 'tom 0 16 0
Quilting Vests, 6s. 6d. each, or three fur.. •• • .
Cashmere ditto, in every variety of pattern 8 6
Satin ditto, plain and fancy .• ••••••••••• • • • • • • • • • • • 0 14 6
Ditto, Cloth or Ca.siraere ditto ••.••••••••• • • • • • • • • • • 0 8
Ditto, Black Single-milled ditto ••••••••••• • • • • • • 9 13 6
Spring Trousers, in every pattern. ••••••• • • • • •• •••••• 9 10 6
Single-milled and Albert Victoria ditto • • .... •••• • • • • 0 19 0
Best Slack Dress •••••' 6 0
Dress C0at5....... ..... .......................... 112 0
Ditto, best manufactured •••••••• • • • • • • • •:• fro •2 15 0
m 1 15 0
Frock Coats
Ditto, best manufactured .. ••••••••••• • • • • • • • " • • " 3 3
Mourning, to any extent, at five minutes notice.
Any article purchased or made to measure, if not approved of,
•vill be immediately exchanged, or the money returned.
Observe—E. MOSES and SON, Tailors, Woollen Drapers, Hal'
ere, Clothiers, Outfitters, and general Warehousemen, regret
arned
to be
bilged to guard the public against imposition, but, having le
that the untradesmanlike falsehood of " being connected with
them," or It's the same concern, has been resorted to in many in-
armee!, and for obvious reas*ns, they have no connexion with
my other house in or out of London.
And those who desire genuine Clomp Clothing should, to prevent
lisappointment, call at or send to the Minories. and Aldgate, City,
Vondon.
E. MOSES and SON. Tailors, Woollen Drapers, Hatters, Hosiers,
and Outfitters, Nos. 154, 155, 156, 157, Minories, and 83, 84, 85,
and 86, Aldgate, City, London.
NOTICE.—The entrance to the Bespoke Department is at 84
Aldgate.
No business transacted at this Establishment from sunset on
Friday
evening till sunset on Saturday evening, when it is resumed
At WAWA 0.919C1t.

THE MEXICAN BONDHOLDERS.
(From the Tunes.)
At last the long expected communication from Mr.
Murphy, which was to set at rest all the uneasiness
created by Senor Gomez Farias' dispatch in the minds of
the bondholders, has- Made its appearance. The second
enclosed document, which is the most important one, is
of formidable length, and we cannot abstain from a wish
that brevity had been rather more consulted ; but, so
great is the anxiety of the creditors on this subject, and
so curious is the position-in Which the Mexican debt has
been placed since the arrival of Senor Gomez Farias,
that we cannot do other Wise than give it entire. At pre-
sent we publish it without comment, since it is of itself
quite sufficient for our readers' digestion, but we have no
doubt, that when it has been'considered over a little, it
will be found a fruitful source of controversy :

4' TO G. K. ROBINSON, ESQ., CHAIRMAN OF THE CON

MITTEE OF SPANISH AMERICAN BONDHOLDERS.
" Sir,—ln compliance with the Intention expressed in
the letter I had the honour to address to you on the 16th
inst., I now beg to enclose two documents, Nos. 1 and 2.
" The first is a copy, at full length, of the ccmtnumca-
don addressed to me from Mexico, and of which an ex-
tract only was published in the Times of the 16th, ac-
companied by a letter signed 'B. Gomez Farias.' I
think it right that the committee and the bondholders
should have before them the whole of that document, so
that they may be able to appreciate the reasons for the
resolutions adopted as therein set forth in reference to
the late conversion.

" Document No. 2 is a copy of my answer to that
communication. This answer, I trust, as I said before,
will place matters in their true light, be found satisfac-
tory to the bondholders, and justify my conduct through-
out this business.

" Allow me to add that, although the resolutions on
the conversion have been taken on receipt of my letters
of the Ist of July, yet the whole particulars of that con-
version were forwarded by me to the Government on
the Ist of June, and, had there, been any objection on
the part of the Godeinmelit then existing, I ought to
have received communications to that effect by the
packet before last. To judge from letters which I have
received from a member of the Government under
which the matter originated, it would -have been fully
approved of.
" I have the honour, to be, Sir, your obedient, servant,
" T. MURPHY.
" London, Odtober 19, 1846."

(Translated from the Spanish.)
" MINISTRY OP HACIENDA.

" Most Excellent Sir,—l have made a communica-
tion to the Most Excellent Senor General-in-Chief of
the Republican Army, charged with the supreme go
vernment of the nation, of your Excellency's note of
the Ist of July last, and, after having carefully con-
sidered it conjointly with the dispatch relative thereto,
he has given me instructions to inform your Excel
lency in reply
.that he cannot nor ought he to consent
to the conversion of the foreign debt of the republic
lately contracted in that city, creating for that pur-
pose a now consolidation fund of 10,241,6501. sterling.
The Government, authorised by the law of the 2iith of
April of last year to liquidate and settle the foreign debt,
was exclusively occupied with the settlement of that
known under the names of Deferred' and Debentures,'
as appears by the dispatch relating to the matter. It
was proposed immediately to withdraw the same, giving
to it a new form, by which the nation, apportioning to
itself the greatest reduction possible, might easily fulfil
its obligations, and re-establish by these means its credit.
After various operations effected for this purpose, and
of which your Excellency iS well aware, it was settled
that the abatement which should be solicited should be
that of 60 per cent., and that, in order to obtain it, there
should be tendered to the holders of the bonds of the
before-mentioned debt, Deferred and Debentures, the
special guarantee of the best revenues of the republic,
such as 20 per cent. of the import duties at Vera Cruz
and Tampico, those on the exportation of specie from
the Custom-houses on the Pacific, and the monopoly of
tobacco. Thus it is that, grounded on these bases, he
issued the decree of the sth of March last, in which he
created a new consolidated fund of 4,650,0002 sterling
for the conversion of the before-mentioned debt, and of
which, in due course, an authenticated copy. was for-
warded to your Excellency, in order that it might serve
for your Government in the operations which this busi-
ness would demand, subsequently fully authorising you.
in order to remove the obstacles which might present
themselves in the attainment of his said ideas upon the
bases aforesaid.

MAUNDER'S POPULAR TREASURIES.

New Editions, corrected and enlarged, price 10s. each work, fcp.
Bvo., cloth ; or 12s. bound In embossed roan,
nR. MAUNDER'S FOUR TREASURIES.
1. THE BIOGRAPHICAL TREASURY ; a Dictionary of
Universal Biography; comprising above 12,000 Memoirs.

2. THE HISTORICAL TREASURY: an Outline of Universal
History ; separate Histories of every Nation.

3. THE SCIENTIFIC AND LITERARY TREASURY : a
copious Popular Encyclopredia of the Belles-Lettres.
4. THE TREASURY OF KNOWLEDGE, and Library of Re-
ference ; a Compendium of Universal Knowledge.
London : Longman, Brown, Green, and Longmans.

" Your Excellency has, notwithstanding, taken no no-
tice of the principal point of the before-mentioned de-
cree, in consenting to an arrangement that prejudices
very considerably the interests of the republic, and places
it in such a position as to render it incapable of making
good its promises, provided it should allow it to pass
without annulling it.
" Because, by the decree referred to, of the sth of
March, the Government ordered the creation of a new
consolidated fund of 4,650,0001. sterling, which should
produce an interest of five per cent. per annum, and your
Excellency, without any authority, has made it extend
to 10,241,6501., stipulating for the payment of 'the reve-
nue due-upon this sum every six months, and the remit-
tance to London of 500,000 dollars annually for the
amortisation of the capital. Far from consulting the
credit of the nation, your Excellency places it in a posi-
tion inevitably to ruin it, for if it has found a difficulty
in fulfilling the arrangement entered into with regard to
the Active Debt, which is the half of the new fund cre
ated by your Excellency, how can the obligations lately
entered into for the whole be complied with, without
leaving the republic without resources to meet its most
absolute necessities ?

contract entered into by the :Mexican Government
with Messrs Manning and Mackintosh in Mexico. This

I have proved in my dispatches of the Ist of June and
the Ist of July to that departmont, of which I herewith
transmit copies; but, for the sake of affording still more
ample evidence of the truth of what I hfive stated, I wil.
now furnish a palpable demonstration.
" Before the decree of the sth of March was issued,
the Mexican foreign debt, created through the house of
Lizardi, and recognised in the decre of the 15th of De.
cember, 1843, was composed of the following items:-
Ist, £5,591,650 of Active Bonds.
2d, ... 4,624,000 of Deferred Bonds.
3d, 499,096 of Debentures.
4th, 419,3731 of overdue Dividends.
" The decree of the sth of March set forth—' That a
new consolidated stock be created fur 4,650,0001., and
that.out of it there be taken a sufficient amount to re-
deem the Deferred Bonds and Debentures at 40 per cent.,
and the overdue dividends at par;' and the contract with
Messrs. Manning and Mackintosh was to this effect, viz.,
' That the surplus of the new stock of 4,650,0001. which
remained after having effected the redemption set forth
in the decree of the sth of March shall be delivered to
the agents of the said house, who have bought it.'
" Thus, then, by this operation, the 2d, 3d, and 4th
items of the four which constituted the Mexican foreign
debt, created through Lizardi, as above-mentioned, dis-
appear, and in lieu thereof, a new stock of 4,650,0001.
is substituted, which, added to the first item, that is to
say, to the 5,591,650/. of Active Bonds, produces for
total of the Mexican debt the sum of 10,241,6501,
" Such in reference to the amount of the debt would
have been the practical result of the decree of the sth
of March, if the creditors had accepted it in its primi-
die form.

" But, this not having been the case, I then took the
following view:— _ _

"'That a new consolidated stock be created for
10,241,6501., and, with it, withdraw from public circu-
lation not only the Deferred Bonds, Debentures, and
over. due Dividends of Lizardi, but also the Active Bonds;
and thus, as regards the total amount of the debt, the
same point which the Government proposed to itself in
the decree of the sth of March will be arrived at. As to
what relates to the prices at which these distinct obli-
gations are to be redeemed, this is a proper subject of
agreement between the bondholders and the agents of
the house of Manning and Mackintosh, because those
gentlemen having purchased the surplus which should
remain of the 4,650,0001. of new stock, treated of in the
aforesaid decree, after effecting the redemption therein
prescribed, the only thing which interests and is im-
portant to the Government is that in the result of the
operation the Mexican foreign debt does not exceed the
sum of 10,241,6501., which is that recognised by the de-
cree of the sth of March.'

RAILWAY SHARE MARKETS.
MANCHESTER, OCTOBER 20.

" This I accordingly proposed, and I proposed it in
virtue of the full powers which were conferred upon me
in the instructions which I received from the Finance
Department, dated the 7th of March, to remove what-
ever obstacle might oppose itself to the execution of the
decree of the sth of March, on the basis of converting
the Deferred Bonds and Debentures at 40 per cent.

STOCK ExcuANGE.•—The sales are—Ambergate, Nottingham, Bos-
ton, &c., par—Eastern Counties, York Extension, 1% p.—East Lan-
cashire, 3% p.—Ditto, ditto, New, 3 3.16 p.—Huddersfield, Halifax,
and Bradford, % p.—Huddersfield and Manchester Railway and
Canal, 2% p.—Ditto, Extension, 13-16 p.—Leeds and Thirsk, Ms.
—Leeds, Dewsbury, and Manchester, 3 p.—Liverpool and Bury,
New, 1 p.—Liverpool. Ormskirk, and Preston, 4 15-16 p.—London
and North-Western, New, 14% p.—London, Manchester, and Bir-
mingham, Quarters (C), 7 3.16 p.—Manchester and Southampton, 1
dis.—North British, New, % p.—North Staffordshire, 2 1-16 p.—
North Western, % dis.—Oldham, Birkenhead, &c., dis.—Preston
and Wyre; Halves (A), 2% p.—Ditto, ditto (B), 4a. p.—SheMeld and
Manchester, Quarters, No. 2, 21—Shropshire Union Railway and
Canal, % Ms. —South-Eastern and Dover, No. 4, % p.—West Riding
Union, 1 7-16 C. p. _ _

" But where lay the importance of this'basis for the
Government? Was it in the per tentage? No ; be-
cause this question interested alone Messrs. Manning
and Mackintosh. Was it in the redemption of the De-
ferred Bonds and -Debentures solely, leaving the Active
Bonds of Lizardi in circulation? Yes, if the intention
of the authors of the decree of the sth of March was,
first, to make a profitable operation with the Deferred
Bonds and Debentures, and then, at a later period, to
attack the Active Bonds. But such views could not be
attributed to the highly honourable men with whom the
business originated and was brought to a conclusion, for,
on the contrary, the whole tenour of their communica-
tions and instructions to me prove that their principal
object was to attend to the credit of the republic abroad
by settling the foreign debt on a permanent and final
footing. It is evident, therefore, that it was immaterial
whether in such a settlement the Active Bonds of Lizardi
should remain in cireulation or not; the real importance
of the case consisted in this, that, whatever the arrange-
ment might be, the foreign debt should not exceed a
total sum of 10,241,6501., that being the precise amount
it was the object of the decree of the sth of March to
create; and, as I have not done anything else, there can
be no doubt that it was fully within my powers to pro-
pose what I did, and, my proposals having been ac-
cepted by the creditors, the said decree was fully and
punctually complied with in reference to the amount of
the debt ; because it is not to be denied that the spirit
and principle of this decree were not to redeem this or
that paper of Lizardi at such or such per cent., but to
consolidate a debt which should not pass 10,241,6501.
" I pass on to the question of interest. It has been
already explained that if the decree had been accepted
by the creditors in its primitive form, the Mexican debt
would have been composed of the following items:—
" 1. Active Bonds of Lizardi
" 2. New Consolidated Stock

Furthermore, the before indicated special securities
having been offered as an indemnification to the bond-
holders who might accede.to the abatement of 60 per
cent., by what authority has your Excellency reduced it
to 10 per cent. with respect to the Active Debt, of which
arrangement no mention is made in the aforesaid de-
cree, but merely of the dividends due upon it up to this
time ; and to 40 per cent. as regards that of the Deferred
and Debentures ? Is this regulating yourself by your
aforesaid instructions, in which it is set forth that bonds
of the Deferred Debt and Debentures would be received
at the rate of 2501. for 100/. of the new consolidated
fund ?

66 Your Excellency makes a calculation in your com-
munication of the Ist of June, showing that, with the
abatement of the 10 per cent. effected upon the Active
Debt, and of the 40 per cent. upon the Deferred Debt
and Debentures, is obtained that of 50 per cent. that was
desired upon the latter. But, if this be so, it appears
that upon the Active we have not obtained any abate-
ment ; whereas we have injured ourselves by granting
to the holders thereof the special securities which have
been tendered solely to those of the others for the afore-
said abatement of 60 per cent., settled as the permanent
basis for the conversion of the debt into the new con-
solidated fund, and not of 50 per cent., as your Excel-
lency indicates.
,s Therefore, if the transaction was not agreed to in
accordance with the terms of the decree before-men-
tioned of the sth of March, your Excellency ought to
have communicated it to the Government, to. have pro-
posed to it the fresh project that had occurred to you, to
have awaited its determination, and not to have pro-
ceeded to realise it instanter, prejudicing in a most ex-
traordinary manner the interests of the nation—a condi-
tion that was imposed upon you in the ample powera that
were granted to you to carry out the intentions of the
decree aforesaid, but not to subvert them.
" Therefore and forasmuch as the holders of bonds of
our foreign debt were aware, from the aforesaid decree,
published in due course at London, how far your Es eel-
lency's powers extended upon this subject, and ought
consequently to impute to themselves the losst s which
may be incurred by them from such a transaction, from
not having acted with the precaution which is generally
made use of in matters of this description, the Most
Excellent Senor General-in-Chia, charged for the time
being with the government of the nation, hereby de-
clares—

" 1. That he annuls the aforesaid conversion of our
debt, effected in the consolidated fund of 10,241,6501
sterling, making your Excellency responsible for the in-
juries and losses that may arise to the republic from that
operation.
"2. That it is immediately to be thus made known to
the public through the press of that city, in order that
the bondholders of the converted stock referred to may
obtain the old bonds that they may have delivered in
for conversion as aforesaid, and return those which they
may have received in lieu of them of the consolidated
fund.
" 3. That it is likewise to be made known to the b6nd-
holders of our foreign debt, through the medium of the
press, that the Government of the Republic intends to
open through other agents a fresh negotiation, by which
the nation, making another equitable arrangement, may
fulfil punctually that which it may contract.
" 4. That your Excellency, being relieved by the Go.
vernment of the Republic from all trust and commission
you may have received from it, do deliver to the Secretary
of the Legation in that city the archives belonging
thereto, and whatsoever papers there may be in your
possession relative to the special commissions that it may
have intrusted to your Excellency.
" I communicate the same to your Excellency by
supreme command for your information, and for the pur-
poses consequent thereon.
" God and liberty.
yALENTINGOMEZ FARIAS.

".£10,241,6t0

" Mexico, 28th of August, 1846.
The Most Excellent Senor Don Thomas Murphy,
" Minister Plenipotentiary to her Britannic Majesty."

(Translation.)
" MEXICAN LEGATION CIRCA DE SA. MAJESTE BRITAN-

NIQUE.

" For the payment of the interest and redemption of
the capital of the first item, the decree of the sth of
March assigned 20 per cent. of the Custom-house duties
of Vera Cruz and Tampico, and the export duties on
silver from the ports of the Pacific; and for the payment
of interest and redemption of the capital of -the second
item, the same decree assigned the monthly sum of
117,708 dollars from the tobacco revenue. Now, I ask,
is not this precisely the same thing as to assign for the
payment of interest and redemption of the total capital
of 10,241,650/. the identical 20 per cent. from the Vera
Cruz and Tampico Custom-houses, the export duties on
silver by the Pacific ports, and the 117,708 dollars
monthly from the tobacco revenue?
" This is what I have actually done as regards in-
terest, and consequently it remains perfectly demon-
strated that in this part also the decree of the-sth of
March has been rigourou carried into effect, with this
important advantage, hoAver, for the Government, that
whereas by the said decree of the sth of March the in-
terest on 5,591,6501. of Active Bonds was to take date
from the month of April this year, and that on the
4,650,000!. of the new stock from June, by what I have
done, the interest on the whole 10,241,6501. will not
commence until the month of July, which produces a
difference in favour of Mexico of a sum of 445,810 dol=
Lars, as I have very clearly shown in my dispatch of the
Ist of July.

" It now remains to speak of the redemption fund :
" For the redemption of the new consolidated stock of
4,650,0001. the decree of the sth of March assigned the
annual sum of 250,000 dollars from the tobacco revenue,
and for that of the capital of 5,591,6501. of Active
Bonds ; his Excellency the Minister fur Foreign Affairs,
in his confidential dispatch No. 8, of the 7th of March,
calculated that the 20 per cent. from' Vera Cruz and
Tampico, and the export duties on silver by the Pacific,
would leave an annual sum of 162,087 i dollars.

" The committee of bondholders, before proposing to
them the arrangement contained in the decree of the sth
of March, that is to say, previous to the meeting of the
18th of May, required that this last amount should be
raised to 250,000 dollars (securing the difference on the
tobacco revenue), so as to make it equal to that which
had been assigned to the redemption of the new consoli-
dated stock in the aforesaid decree. In consequence of
this requirement I immediately consulted my powers,
and saw by them I was authorised to remove whatever
difficulty might oppose itself to the carrying into execu-
tion the said decree. The disparity which existed be-
tween what was arranged for the redemption fund of the
4,650,000/. of the new stock, and that which was calcu-
lated upon for the redemption of the 5,591,6501. of
Active Bonds, was a difficulty offered by the committee
of bondholders ; consequently it was within my power
and clearly My duty to make the concession required of
me, and I did so. This is the pure logical deduction
which, in this matter, justifies my conduct, in a legal
point of view, there not being in the power so vested in
me by the official communication of the 7th of March,
before mentioned, the restriction alluded to in the com-
munication now:under:reply. But if the matter be viewed
under moral considerations—if it be considered that the
requirement of the committee involved no more than
a sum of 87,9121 dollars, an amount quite insig-
nificant as compared with tile advantage resulting from
the operation to the nation, and which, as shown in my
dispatch of the Ist of July amounts to upwards of
11,000,000 dollars—if it be borne in mind that these
87,912 i dollars were dedicated towards the redemption
of a debt which was incurring annual interest of great
amount—if it be remembered that the amount saved in
interest compensates for fully five years the annual dis-
bursement of this sum—and, finally, if the justice in-
trinsically involved in what was asked from Mexico be
regarded—namely, to place all the bondholders on an
equal footing ;—if all this be held in mind, it will be
seen that had I opposed myself to the concession de-
manded of me, if indeed would have been to fail in my
duty, and to misunderstand my instructions. In truth,
if those instructions did not authorise a thing so compa-
ratively trivial, it would be very difficult to say what was
their object. And mark! this money, as just stated, is
for redemption—that is to say, for the only object which
in reality interests Mexico in a loan. To the bond-
holders it is amply sufficient that the interest be strictly
and punctually paid ; therefore, if circumstances had
prevented the remission of that sum for redemption, pro-
vided adequate remittances were made for dividends, the
obligations of Government would have been sufficiently
fulfilled to have prevented any heavy disappointment to
them. There is no doubt whatever that I could in.virtue
of my powers consent to the requirement of the com-
mittee. Well, then, if the redemption fund of the new
stock was by the decree of the sth of March 250,000
dollars, and that of the Active Bonds (with the addition
of the 87,912 f dollars) other 250,000 dollars, is it not
clear that the redemption fund of the total debt of
10,241,650 L was twice 250,000 dollars, that is to say,
500,000 dollars? Yet this, and no more, is what I have
consented to in this matter.

" London, Oct. 17, 1846.
" Excellent Sir,—By the la,t packet I received a dis-
patch from the Finance Department (of which dispatch
Senor Don Benito Gomez Farias, who came by the same
packet, delivered to me a copy), in which I am instructed
to publish in the newspapers of this capital certain mea-
sures, having for their object to annul the last conver-
sion of the Mexican debt. For the reasons which I
proceed to explain, it had appeared to me absolutely ne-
cessary to suspend the execution of these instructions.
Nothing has been done here but what is in strict accor
dance with the spirit, meaning, object, intent, and pur-
pose of the decree of the sth of March last, and the in-
strptions which accompanied it, combined with the

" By way, then, of summary,-
-" The decree of the sth of March created a debt of
10,241,6501. This same debt, and no more, I have
created.
" The decree assigned for payment of interest and re-
demption of one part of the capital of 10 241,6501. the
20 per cent. from the Custom-houses of Vera Cruz and
Tampico, and the export duties on silver from the Pa-
cific; and to the payment of interest and redemption of
the other palt of the said capital 117,708 dollars monthly
from the tobacco revenue. I have assignel to the pay-
ment of interest and redemption of the total capital of
10,241,650 L, the aurae 20 per cent. of the Vera Cruz and