The Sun.
London, England, 1844-03-25 00:00:00

SPANISH TREASURY BOND-
HOLDERS.

The Chairman of the Committee of Spanish Treasury
Bondholders has received from the Finance Minister of Spain,
Senor Carrasco, a letter, of which the following is a trans-
lation : " Madrid, March 14, 1844.

" EXCELLENT Sin,—By your obliging communication of
the Ist of the current month of March, and the copy ac-
companying the same, of the resolutions agreed to by the
holders of Bonds of the Spanish Treasury, at the meeting
held on the 27th of February last, I have been apprised that
the proposal which, by my order, Don Salvador Bermudez
de Castro presented to them relative to the adjustment and
liquidation of their claims has been accepted and approved
of. This proof of confidence given by creditors, whose
rights deserve so much consideration, was highly gratifying
to the Government of her Majesty, my Sovereign the Queen,
as, by acting hereafter in concert, an end will be put to the
unpleasant disputes which formerly existed on this im-
portant matter. The creditors, on their part, ought also to
be gratified in having acceded to my proposal, since by
this means their rights are recognised with exactness and
precision, and, in contributing to support the credit of the
Spanish Government, they acquire greater security for the
payment of what is due to them. The present Administra-
tion of this country possesses indisputable claims that all its
creditors, laying aside the suspicions which hitherto may have
contributed to lower in the market the values of the secu-
rities of the State, should fully confide in the guarantees
which the new economical position of Spain offers to them.
In fact, the deplorable period having now terminated in
which a precarious and transitory Government could have
neither the power nor the will to undertake the suitable re-
forms in our finance department, the Queen, from the mo-
ment when she entered upon the exercise of the supreme
power, recognised this department as the most necessary and
important one of the public administration ; and her Majesty
does not cease to occupy herself in measures for its im-
provement by the preparation, with due reflection and de •
liberation, of those measures which will doubtless re-
gulate our economical system, by bringing down the ex-
penses of the State to a level with its revenues ; so that
the condition of the contributors may be improved with
the nature of the imposts and the simple and mild method of
collecting the same. Above all, the legitimate Government
of her Majesty the Queen has established probity, legality,
firmness, and good faith, as the unalterable principle of its
operations ; and if to this system of perfect morality there be
added those elements of public wealth which Spain possesses,
no creditor can doubt of the success which will attend his
claims. I flatter myself that the holders of the Spanish
bonds in London will continue to manifest their conviction of
this important truth, in consequence whereof, and by reason
of the interest which they have in the improvement of our
credit, they will concur in the maintenance thereof by those
means which aro at their disposal, under the positive
security that all the acts of the Administration of the
Spanish Government will correspond to the principles which
I have laid down. _ _

" At the same time that I improve the opportunity pre-
sented to me by your letter of making this communication
to them. I request you to express to them the particular
appreciation with which I have noticed the honourable terms
in which they have alluded to me in their resolution afore-
said.—l remain, Sir, your obedient servant,
" JUAN JOSE GARCIA CARRASCO.
"To Joseph Tasker, Esq., Chairman of the Committee of
the Holders of Spanish Treasury Bonds, London."