The Sun.
London, England, 1842-12-21 00:00:00

MONEY MARKET and-CITY NEWS.
FROM THE MORNING PAPERS OF THIS DAY.
CITY, TUESDAY EVENING.
TIMES.—The following was posted to-clay at the
Stock Exchange :
"FROM THE COMMITTEE OF SPANISH AMERICAN
BONDHOLDERS.

" Austinfriars, Dec. 19, 1842.
" SlR,—Herewith we beg to accompany a translation
of a decree issued by the Mexican Government, rati-
fying the agreement made by us in behalf of the said
Government with the holders of Mexican bonds, dated
the 10th of October last, whereby an additional pro-
portion of the Custom-house revenues of Vera Cruz
and Tampico is appropriated to the discharge of the
foreign debt. We think it right at the same time to
state, that we are empowered by the Ms.xican Go-
vernment either to issue stock for the amount of our
commission and expenses under the said assignment,
or to deduct the same from the proceeds of the new
assignment made on the Custom-house revenues by
the aforesaid degree. We remain, &c.,
" F. DE LIZARD' and CO.
" G. R. Robinson, Esq., Chairman, tk.c."
" Palace of the ation, Mexico, Oct. 10, 1842.
" DEPARTMENT OF STATE AND FINANCE FOR THE
SUP. GOVERNMENT OF THE MEXICAN REPUBLIC,
IST SECTION.
" His Excellency the Provisional President of the
Republic has been pleased to issue the following
decree :
" Antonio Lopez de Santa Anna, General of Divi-
sion of the National Armies, and now President of the
Mexican Republic, hereby makes known to all the
inhabitants thereof—
" That in consideration of the advantages which
result from the agreement made in London on the
11th of February, 1842, with the holders of Mexican
bonds, whereby a saving of 2,500,000 dollars is effected
in favour of the National Treasury; taking also into
consideration the circumstance that the decree in
virtue whereof said agreement was made, although
apparently with the sanction of the Government, did
not receive publicity at the proper time, which legal
defect prevented its being forthwith carried into exe-
cution according to the forms prescribed by the Con-
stitution which was then in force; and, finally, taking
into consideration the wants of the National Treasury
at the present moment; in use and exercise of the
powers granted me by the seventh article of the settle-
ment of Taenbaga, as sworn to by the Representa-
tives of the Departments, I have seen fit to issue the
following decree :
" Article 1. The additional amount of 31 per cent.
of all the duties receivable at the custom-houses of
Vera Cruz and of Santa Anna de Tamaulipas shall be
set aside and reserved for the redemption of the
foreign debt, in pursuance of the agreement made by
the agents of the Republic on the 11th of February,
1842, with the holders of Mexican bonds.
" Article 2. The additional amount of the custom
duties spoken of in the preceding article shall be set
aside, and preserved for the purposes therein stated,
on and after the Ist of January, 1843.
" Wherefore I orderand direct that this decree be
printed, published, and circulated, for its due fulfil-
ment and observance.
" Palace of the National Government, in Mexico,
Oct. 10, 1842.
" ANTONIO LOPEZ DE SANTA ANNA.
"6 Y. PRIGUEROS, Minister of Finance,'
"All which I communicate to you for your in-
formation and government. " FRIGUEROS.
"Messrs. F. de Lizardi and Co., London."
The impression from the perusal of this decree has
been of a satisfactory kind, since it is an act proceed-
ing from the Mexican Government without any
knowledge of the differences between 'the house of
agency and the shareholders relative to the surplus
issues of stock which have taken place, and of such
a nature too as to create an additional provision to
meet those issues. At the same time it is proper to
remark, that it does not afford a complete justifica-
tion to the agents, who only now receive the authority
to pay themselves by a portion of the remittances or
by an issue of new bonds. On the whole it is to be
hoped that the Mexican Government will stand in
point of credit in as good a position as before these
occurrences have taken place ; and that they will not
relax in their efforts, not only to maintain, but to im-
prove that position.
Before dismissing this subject it may be observed
that the members of the Stock Exchange have ex-
pressed much dissatisfaction that the decree did not
make its appearance earlier in the market than was
actually the case. Indeed, the delay requires some
explanation, as it is generally believed that the above
correspondence was in the possession of parties at such
an hour yesterday as would have enabled them, with
the least forethought and diligence, to havo made it
public at the first opening of the market. As such
delays invariably lead to the suspicion that some un-
fair advantage is taken of the exclusive possession of
information of this description, they should be avoided
as much as possible. It will be seen that the fluctua-
tions which have taken place since the appearance of
the decree have produced a consickrable impression on
the market; and hence we cannot wonder that those
who sold stock the first thing in the morning, and at
the lowest price of the day, should consider themselves
aggrieved.
In the English funds to-day nothing remarkable has
occurred, farther than the continued heaviness in
prices, originating with the unpleasant aspect of af-
fairs between France and England relative to the
Barcelona insurrection. The "time bargain" dealers
appear doubtful of operating either way, and hence, in
the general suspense, business is almost at a stand.
Mexican has fluctuated between 30j- and 321, the
two extreme points of the market, under the influence
of the announcement of the decree of Santa Anna re-
gulating the payment of the dividend to the foreign
creditor. There was not a great deal of business
transacted, and nothing like enough to support the ad-
vance which in thefirst instance occurred in the quota-
tion. From 321, the highest quotation gained, a re-
action followed, and 3it to was the final one noted
in the lists of the day. In other securities no new
feature was observable.

• The premium on gold at Paris is 124 per mille,
which, at the English Mint price of 31. 17s. 103 d.
per ounce for standard gold, gives an exchange of
25 46k, and the exchange at Paris on London at
short being 25 67f, it follows that gold is 0.84 per
cent. dearer in London than in Paris.

By advices from Hamburgh, the price of gold is
431:1- per mark, which, at the English Mint price of
31. 17s. 10Id. per ounce for standard gold, gives an
exchange of 13 B+, and the exchange at Hamburgh
on London at short being 13 92, it follows that gold
is 0.68 per cent. dearer in London than in Hamburgh.
The course of exchange at New York on London
is 1061 per cent., and the par of exchange between
England and America being 109 23-40 per cent., it
follows that the exchange is 3.07 per cent. against
England ; but the quoted exchange at New York
being for bills at 60 days' sight, the interest must
be deducted from the above difference.

POST.—In the foreign house, Mexican Stock was
the principal interest dealt in. Some further explana-
tions afforded by Messrs.-Lizardi and Co., respecting
the conversion, served to give a new impulse to the
market for such securities. The Actives were done,
at one moment, as high as 32k, b
ith
Consols and the other descriptions of
fusti a o
ckloing m
in
which
there were transactions, they eventually receded,
leaving off at 311 to -8-.
The explanations of Messrs. Lizardi and Co. will
suffice,
it Is hopedi to dissipate the suspicions enter-
tained, or said to be entertained, in certain quarters,
as to the fact of the late conversion of Mexican Bonds
having been in accordance with the instructions of the
Government of the Republic. Messrs. Lizardi and Co.
having obtained, through the embassy, the documents
requisite for the substantiation of their perfect right to
proceed on the principle they have done, even in the
mode of settlement of their charge for expenses and
commission, lost no time inlaying the same before the
Committee of Spanish American Bondholders. The
correspondence appears above.
The agreement entered into between the bondhold-
ers and Messrs. Lizardi and Co., is fully recognised,
and it is a importance that the appropriation of reve-
nue at the Custom-houses of Vera Cruz and Tampico
should be extended in the manner proposed. This is
an advantage that the bondholders have been long de-
sirous of securing, and, in acceding to their wishes,
the Mexican Government are believed to do the very
utnidst the financial situation of the Republic will
admit of. _ _

renewedAThe
attacks on Messrs. Lizardi at the pre-
sent moment are curiously ill-timed, and equally so
are the strictures passed on the conduct of those who
havo)defended them. It had been asked why, instead
of commencing their investigations with this Mexican
affair, the Committee of the Stock Exchange did not
look a little into the more serious matter of the
clandestine issues of Spain ? The reply to this in-
qu;ry, is, that " two blacks do not make a white,"
and although there can be little desire to question the
accuracy of the proposition, it may be observed, that
a house of high standing, like that of Messrs. Lizardi
and Co. show but a proper degree of self-esteem in
refusing to treat with parties who, in pursuance of
their, interested purposes, assume first one colour and
theu,another, as the occasion may require. The Com-
mittee of the Stock Exchange and the assailants of
Messrs. Lizardi and Co. present a fair specimen of
this chameleon-like species in connexion with the
Mexican business, while, in his inconsistent treatment
of the two cases in which he is acting as agent, a lead-
ing capitalist and contractor furnishes another.

CHRONICLE.—A shopkeeper and subscriber
sent us some useful observations lately on the subject
of the tea duties. Our Correspondent remarks that—
" About 1836 it was represented by the importers
and merchants that the difficulty of distinguishing
Bohea from Congou tea was so great, that it would be
better to have a fixed duty on all teas, which was ac-
ceded to by Goveriment. What was the next thing
applied for? Why, that Bohea tea should be admitted