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

BUENOS AYRKS BONDHOLDERS.

A meeting of Buenos Ayres Bondholders was
held yesterday afternoon, Mr. David Robertson in
the chair, to consider the terms of the new decree
for the arrangement of the English debt. The
chairman stated that he bad to announce a most

satisfactory settlement of their claims. He then
recapitulated the various measures that Lad been
taken to obtain this adjustment, and observe-1 that
it was creditable to the Government of Buenos 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, he 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
under the following bases and conditions :
"1. To meet the interest and sinking fund on the
original debt the Government will pay in 1857, the stet
of 36,000/. ; in 1858, 48,0001. ; in 1859, 60,0001. ; and
in 1860 and thenceforth, 65,000/: until the complete ex-
tinction of the capital.
"2. For the amount of interest in arrear, and which
may be overdue to the end of 1858, the Government will
issue new bonds, which will bear the following interest:

From 1861 to 1865 inclusively at 1 per cent. peraunum
from 1866 to 1870 inclusively at 2 percent. per annum ;
and in 1871 and thenceforth, at 3 per cent. per annum,
assigning 4 per cent. per annum, or the 200th part of
their total amount for a sinking fund.
"3. The Government will reserve the faculty of
increasing the sinking 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 mains necessary to meet the obligations
determined by the foregoing articles are specially asstgied
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 he 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 this obligations assumed
by this law. '
This measure has been passed by large majorities
in both Houses, and the bondholders have high
legal opinion that from the estates being mortgaged
to the 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 adjustment of the English debtof Buenos Ayres,
contained in the Act of its Legislature, dated the 28 b
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 Buenos
Ayres to Messrs. Baring, Brothers, and Co., and by them
to the British public, to the committee, and to the
hollers 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
negotiations 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—au 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 Ayres 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 mere to express
its warm and sincere acknowledgments to the Right
Hon. the Earl of Clarendon for the able an 1 friendly
assistance so freely and so constantly afforded througu-
out the whole of this negotiation by his Lordship and
her Majesty's Government, and to its ri presentatives at
Buenos Ayres, his Excellency Mr. Christie and Mr.
Parish, towards bringing this long-pending matter to so
satisfactory a conclusion.
"4. This meeting begs also to express its hearty
acknowledgments to the house of Messrs. Baring, liro-
there and Co, the contractors of the loan, and the agents
of the Buenos Ayrean Government in England, foritheir
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 begiven to
the Spanish American Committee for their exertions
in the cause of the bondholders, and also for providing
the necessary funds to defray the expenses incurred.
" 6. That the amount of Deferred Bonds to be appro-
priated
June,
reward
nutsnh6de,eto httodileedf
rhysooyidetehoresf
et
xhcepoebn
inost dsi
shoos;
fol dot eherress
7oonmatnmhdei t
t2eoedt
to
orf
officers, and to pay many other charges and incidental
expenses,sEpsqmn:
Spanish
the
chairman
Americana pi am ae nd noDnit h.
Committee—namely, e
handstotbe:r_t noo
Robertson,
n: threeeEiyE g
g,J.membersapannd.dp
Joseph
Jamesooosf
eithe
Tacker, Esq. ; and three of the bondholders--namely,
CCahpaele.l,3llE'sGqa.,rteol' bEe jesoehdnollf as they think proper.

GALLANT CONDUCT.— Some documents have been
sent to us with a view to show the gallant and humane
conduct of Capt. Percy, of the British brig Jessie, in
rescuing the crew and passengers of the American
packet-sbip Northumberland, Captain Spencer. The
Northumberland left New York for England on the 15th
Nov. with a crew of 28 men and 35 passengers, but met
with bad weather on the Ist Dec. A fearful night was
passed, and the next morning the vessel was disabled
during a hevy gale about 2,000 miles from New York,
and became a wreck. All on board would have been
lost had it not been for Capt. Percy, of the brig Jessie,
bound for St. John's, Newfoundland. Capt. Percy, on
observing the condition of the Northumberland, altered
the course of the brig, and by his exertions succeeded
in saving every person on board, 63 in number. The
passengers of the Northumberland all express their gra-
titude to the captain (Capt. Spencer) for his care, skill,
and promptitude in superintending the operation of
lowering those on board into the boats.
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