The Sun.
London, England, 1857-12-18 00:00:00

BUENOS AYRZS BONDHOLDERS.

A meeting of Buenos Ayres Bondholders was
held yesterday afternoon, ,Alr. David Robertson in
the chair, to consider the terms of the new decree
for the arrangement of tho English debt. The
chairman stated that he had to announce a most
satisfactory settlement of their claims. He then
recapitulated the various measures that had been
taken to obtain this adjustment, and observed that
it was creditable to the Government of B uenos Ayres
that as their revenue augmented last year, their first
thought had been to do justice to the foreign credi-
tor. The excellence of the climate, ho believed,
would lead to continued colonisation of the country
by Europeans, and the foreign trade would steadily
increase. Annexed is a translation of the law passed
by the Buenos Ayres Legislature :--
"Art. 1. The Executive power is authorised to con-
clude the settlement of the debt of the London loan
ender the following bases and conditions :
"1. To meet the interest and sinking fund on the
mieinal debt the Government will pay in 1857, the sem
of 36,0001. ; in 1358, 43,000/. ; in 1859, 60,0001. ; and
in 1830 and thenceforth, 65,000/: until the complete ex-
Unction of the capital.
"2. For the amount of interest in arrear, and which
may he overdue to the en I of 1858, the Government will
issue new bonds, which will bear the following interest:
From 1851 to 1865 inclusively at 1 percent. perannum ;
from 1866 to 1870 inclusively at 2 percent. per annum ;
and in 1871 and thenceforth, at 3 per cent. per annum,
assigning 6 per cent, per annum, or the 200th part cf
their total amount for a sinking fund.
"s. The Government will reserve the faculty of
increasin; the kinking fund of these bonds at any time
after their issue with the sums which the Legislature
may authorize it to employ for this purpose.
"Art. 2. The sums necessary to meet the obligations
determined by the foregoing articles are specially assigned
upon the proceeds of the rent of the public lands of the
State, excepting those belonging to the municipalities ;
and in case of any deficiency, it will be made up from
the general revenues of the State, or from some special
resources which the Legislature may create.
" Art. 3. The State of Buenos Ayres reserves the
rights which appertain thereto for a period when the
Argentine Confederation may unite, represented in a
general congress, with respect to the obligations assumed
by this law. '
This measure has been passed by large majorities
in both Houses' and the bondholders have highlegal opinion that from the estates being mortgaged
to tho English creditors they have the right, if
necessary, to call upon the Foreign Secretary to
interfere in their favour. After a short conversa-
tion, the following resolutions were passed unani-
mously :
"1. That this meeting having well considered the terms
for the aclju-Iment of the English debt of Buena; Ayres,
contained in the Act of its Legislature, dated the 28:h
of October, 1857, which has passed both houses by large
majorities and become law, and as such has been com-
municated by the executive Government of Themes
Ayres to Messrs. Baring, Brothers, and Co., and by them
to the British public, to the committee, and to the
holders of the Buenos Ayrean bonds, hereby agrees to
accept the same in all its integrity.
"2. That this meeting desires to express the high
sense entertained by the bondholders of the honourable
conduct which has characterised the whole of these
segotial ins and proceedings on the part of the present
Government of Buenos Ayres, and in an especial manner
of his Excellency Senor Riestra, its Finance Minister,
and no less so of the Senate and House of Representatives
of the State of Buenos Ayres—an act which this meet-
ing trusts, as it believes, will greatly strengthen the
bonds of union and intimacy between the Governments
and the people of Buenos Aires and of England, and
largely increase the commercial and friendly intercourse
between the two nations for the mutual benefit of both,
"3. That this meeting desires once more to express
its warm and sincere acknowledgments to the Right
Hon. the Eatl of Clarendon for the able an I friendly
assistance so freely acd so constantly afforded through-
out the whole of this negotiation by his Lordship and
her Majesty's Government, and to its representatives at
Buenos Ayres, his Excellency Mr. Christie and Mr.
Parish, towards bringing this long-pending matter to so
eatisfactory a conclusion.
"4. This meeting begs also to express its hearty
acknowledgments to the house of Messrs. Baring, Bro-
thers and Co, the contractor: of the loan, and the agents
of the Buenos Ayrcan Government in England, for;their
valuable and unwearied exertions for many years past,
and their able negotiation of this matter at Buenos
Ayres during the present year, through their talented
and upright agent, Mr. George White, which has mainly
led to the satisfactory result and adjustment which this
meeting has just ratified and confirmed.
5. That the cordial thanks of this meeting beg,iven to
the Spanish American Committee for their exertions
in the cause of the bondholders, and alto for providing
the necessary funds to defray the t xpenses incurred.
" 6. That the amount of Deferred Bonds to be appro-
priated
under the vote of the bondholders on the 24 of
June, 1856, to defray the expenses of the committee, to
reward the Bondholders' Commissioners, and other
officers, and to pay many other charges and incidental
expenses, be placed in the hands of three members of the
Spanish American Committee—namely, J. D. Bowles,
Eeq , the chairman ; D. Robertson, E.q., and Joseph
Tasker, Esq. ; and three of the bondholders—namely,
(;has. M'Garel, Esq., John Raphael, Esq., and James
Cape), Esq , to be disposed of as they think proper.

IMPROVED COMMUNICATION BETWEEN LONDON AND
DUBLIN.—Two of the four ships to be built for the
accelerated conveyance of the mails and passengers
between England and Ireland, under the recent agree-
ment entered into between the Treasury and London
and North-Western Railway•Corupany and the City of
Dublin, Steam Packet Company, are to be built by Mr.
John Laird, of Birkenhead, and two by Messrs. Saun-
ders Brothers, of London. Of the engines, two pairs
are to be made by Messrs. James Watt and Co., and
two by Messrs. Ravenhill and Co. A minimum speed
of 18 miles an hour is to be attained by them.
REWARD OF MERIT.—We are happy to announce that
a subscription has been set on foot for the purpose of
conferring a testimonial on Mr. Gladstone, in acknow-
ledgment of his nobly protest against any interference
of the House of Commons tending to the increase of Sir
Henry flave!ock's pension. The homage which the right
hos. mereber for Oxford for that magnanimous declara-
tion rendered to aristocratic principle has been properly
appreciated in the most exclu,ive circle,. At the
sugizeition of several infli ential members of the Carlton
Cub arrangements have been anode for presenting the
right hon. gentleman with a gold-beaded stick, a gold
laced hat with a splendid cockade in it, and a pair of
breeches manufactured of the richest thunder-and-light-
ning plush.—Punch,.
A MISTY PROCLAMATION.—It is customary in several
of the United States to hold a day of thanksgiving ap-
pointed by public proclamation, Ooe of these documents,
lately issued by Governor M'llae, of Mississippi, is a
deplei able ni,ckery :—" Since," he says, "I have been
itl offic-, I have, in each year, as Governor of the State,
without any authority of law, but sustained by ancient
custom, appointed a Day of Thanksgiving. Thursday,
November 19, is the day now appointed, and I trust it
will observed. There is, certainly, some super-ruling
Providence which has brouht us into existence, and
which will ultimately accomplish the ends for whin we
were created, not only as individuals, but as people.
Nothing can, therefore, be 1 ist by recogni...ing the obli-
gation which we owe to the Supreme Being —by it
much may be gained."
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