The Sun.
London, England, 1834-05-27 00:00:00

CORTES BONDS.

The immense stake held by English capitalists in
the Spanish Cortes' loans, causes all the bearings of
the Madrid intelligence to be canvassed with extreme
strictness, in order to form a judgment as correctly as
possible how far those old obligations of Spain are
likely, under the new system of government, to be
fulfilled. It is seen by the official declaration relative
to the late negotiation for a loan, that the subject in-
volves too great responsibility for the regency or the
ministers to deal with it, and that it is to be referred to
the Cortes,without, however, anything more being done
by the government than a recommendation to take the
question into consideration, that assembly being left
to determine the amount and the manner of compen-
sation. In the passage of the government declaration,
published this morning, which refers to this point,
there is some ambiguity, owing partly to an incorrect
translation of it, copied from Galiynani's Messenger.
The original would appear to imply a doubt, though
that is also left to the decision of the legislature,
whether the country is able to bear such an additional
burden as vc ould be imposed from this source. As
the passage is important, we have been requested to
publish a literal translation of it, which is as follows:

" Her Majesty has been pleased to conform to the above-
mentioned opinion of her council of ministers, obtaining
this this advantage—that at the same time that the foun-
dations of credit are laid, and important reforms effected in
the finances and administration of the state, the Cortes
themselves will deliberate and determine, the proposal
being first submitted by the Government, whether this be a
case for makinc, use of the credit of the nation, from the
insufficiency of ordinary resources, and in order not to
lay more burdens on the people."
Of course the fulfilment of pecuniary claims by a
government, as by private individuals, must depend on
the, possession of the means ; but the resources of a
great nation are not of so definite a nature, and the
state of credit to which Spain aspires, and appears, by
the declaration above quoted, to be anticipated, is not
to be attained, in the opinion of the English creditors,
without a most liberal satisfaction of those claims
which they also feel strongly convinced that the re-
sources of Spain, properly administered, are sufficient
to meet. They will feel deep disappointment if the new
Spanish legislature, in its estimate of those resources in
connexion with their claims, does not draw somewhat
upon the future for the purpose of meeting them more
effectually. From the general tenour of the letters from
Madrid, it may, we think, be safely inferred that this
question will be liberally dealt with by the Cortes ;
in fact, many of the leading men, who are likely
to possess influence in that assembly, have already
expressed their opinions to that effect, and their
intended strenuous support to such a course of policy.
The chief apprehension that seems now to be felt arises
frqm the delay which must take place before this ques-
tion can come on for deliberation. The period for the
assembling of the Cortes is stated to have been fixed
for the 24th of July, but that is not yet officially an-
nounced, and some of the letters express doubts whe-
ther, if the meeting does not then take place, the
assembly can meet to transact business, as that is the
time when the great heats prevail in Madrid. It is
thought, therefore, should the Cortes actually assemble
then, that a prorogation must shortly afterwards take
place. It is further remarked, that when the meetings
of deliberation and business do actually commence, the
question which must necessarily take the precedence
of all others is that of establishing the succession of
the Crown, in the event of the deaths of both the
daughters of Ferdinand, and as the ministerial measure
is to be based on the exclusion of Don Carlos and his
family for ever from the succession, a long and violent_
debate may be looked for, in which the ministers may
possibly be outvoted and retire from office, to the
great hindrance of all other business to be transacted
by the Legislature. This seems, on the current in-
formation of the day, to be the fair view of the posi-
tion of the Cortes' bondholders. Some delay, per-
haps a considerable one, is to be expected ; but as the
state of things settles down in Spam, the Govern-
ment will extend its resources, and improve its credit,
and the conclusion is on no account to be hastily
adopted that they will ultimately be placed in a worse
situation by that delay.—Times.

A lady was observed walking along the
banks of the canal, near Warrington-place, about
eight o'clock on Thursday evening, and the wildness
of her demeanour excited a suspicion in the minds of
several persons whom she met that she was about to'
destroy herself. They followed her at a distance for
the purpose of watching her movements, and at length
saw her fling herself into the canal. A Mr. Litton,
(brother, we believe, to the eminent King's Counsel)
happened providentially to be passing at the time, and
on observing the circumstance ran immediately to the
spot. After stripping off his coat and hat, which he
gave to a by-stander, he plunged in after the unfor-
tunate
lady, and rescued her from her perilous situa-
tion. Assistance was promptly rendered to restore
her to consciousness, and, having recovered a little,
she was conveyed in a carriage to her residence. Mr.
Litton, on turning round to look for his clothes, found
that the person to whom he had intrusted them had
disappeared, and he was obliged to proceed to the
house of a friend in Mount-street to procure a fresh
supply.—Dublin Evening Mail.