Star.
London, England, 1823-09-01 00:00:00

I AKE COLIABIAN LOAN:
On Satur+da3 we. 'gave an abstract of the Decree of
the Republic of Colombia, relative to the Loan con-
t for in this country ; but as the question of
guarantee is one in which the Public feel deeply in-
terested, we new givea copy of the Decree, with some
-further information on the subject.
DECREE.
el The Senate and House of Representatives of the
Republic of Colombia, assembled in Consress,
" In consideration that the deceased Ex-Minister
Plenipotentiary, Francisco-Antonio Zea, attributed to
himself faculties that were not confided to him in his
powers and instructions, and thereby misapplying
certain documents, signed by the President of the
Republic, and countersigned by the Minister of
Foreign Affairs at that period, M. Joseph Rafael
Revenge, under date of the 24th of December,lBl9,
for the sole purpose of facilitating the diplomatic
negociations with which he was charged in Europe;
". In consideration that his powers, instructions,
and documents annexed having ceased to subsist
(quedadoe insubsisikntes ) from the time of giving,
promulgating, publishing, and circulating the funda-
mental law of the Cotratitution of the Republic, and
the other laws of the Constituent Congress, which
concluded its Session in the town of Rosario de Cu-
cuta, on the 14th of October, 1821, and notwithstand-
ing which the said Ex-Minister Francisco Antonio
Zea proceeded to negeciate and sign a contract for
the loan of two millions sterling, in Paris, on the 14th
of March, 1522, exercising supposed faculties with
which he never was invested ; and that, in virtue of
the said contract, there have been put into circula-
tion the corresponding bills, debentures, and trans-
ferable obligations, which have circulated, and are
now circulating out of Colombia ; and lastly, con-
sidering that in this Loan of two Millions sterling, the
debentures and bills issued by the said Francisco An.
tonio Zea to the creditors of the Republic, according
to an act celebrated in London, on the Ist of August,
1820, have been admitted as a part thereof, without
such operation having been approved, and without
these respective accounts having been formally ad.
jutted, and farther other obligations which M. Zea
himself put into circulation, of which, until now, none
but uncertain information, communicated indirectly
by the agent of the Contractors, has been furnished ;
and considering that, if.on the one hand the Republic
ought to give to the world an undoubtable proof of
her honour, justice, and good faith, securing the in-
terests of those who contributed to assist her by fur-
nishing her with the means of which she stood in need,
to enable her to triumph in the bloody contest in
which she was involved, it is no less her duty, on the
other, to spew herself severe and inflexible in the first
days of her.political existence, in order to guard
against the repetition of events as scandalous as they
are prejudicial, manifesting that she knows how to
conciliate her interests with her power, have decreed
and do decree as follows :
" Art. 1. The Congress disapproves the Loan contracted in
Paris on the 14th March, 1825, by the deceased Ex-Minister
Francisco Antonio Zea; and declares null and void all that be has
done relative to the affair, both in the substance of the contract,
and in all its clauses.
" Art. 2. Notwithstanding, the debt incurred (contrallida) by
this act is recognized, and that which was contracted prior to the
Ist of August, 1893, as far as the sum which shall be proved to
have been Csumisitzd for the Republic, in money and effects.
" Art. 3. For the liquidation of the same the Executive is
amply authorized to effect it in the manner in which it may
thick fit.
" Art. 4. The Executive is also authorized to approve and ra-
tify, either individually, or by the person or persons whom it
ehall delegate for the purpose, the result of the liquidation ; that
it may call-in the *Options, bills, or debentures, put into cir-
culation by the 4eceased Francisco Antonio Zea, and substitute
such as it may deem necessary to the amount of the sum which
stiay be liquidated and approved. The same must be signed by
the Secretary of State and of Finance, or by the person who
than be duly authorized, so that these new bonds or debentures
nay be admitted as numerical amounts in any new loan that may
be decreed; and lastly, to nuue arbitrators, judges, and amicable
conciliators, in the event of any fresh disagreement arising with
the creditors, either in the territory of Colombia, (win any emits
try in Europe.
" Art. S. The same Executive Authority may agree upon the
period for the redemption (antertimciets) of the sum that shall
have-beta liquidated upon the mortgages with which credit
Asoula be preserved, and upon the method of paying the inte-
rest until the cotasslidation of the national debt, on which sub-
ject the Congress is now employed.
" Finally, the &Waive 'is authorized to remove ell difficul-
ties that may occur in the execution of the present law.
" House of Representatives in Bogota, June 9, 1823.
(Signed) " DOMINGO' CAYCEDO, President."
KINGSTON (JAMAICA), JULY 20.
Pray, is there such a thing in existence with you
now as a Poyais Loan? Talking of Loans, I will
give you an extract of a letter I received a few days
ago from Santa Fe, by the Colombian schooner Chas-
seur, from Carthagena. You will remember my ob-
servations on this. subject on former occasions; and
will now have an opportunity of judging how far
they are correct. The letter, which is dated the 18th
ultimo, says :
" A few days ago, Caycedo, President of the House
of Representatives, published u Decree annulling the
Loan contracted for by Mr. Zea, and declaring that
the Government is resolved on doing equal justice to
the State and its creditors, in paying to the latter
what is justly their due, but not at the sacrifice of
the interests of the State, by submitting to be duped
in the manner that is attempted.—The Loan for Two
Millions, as it is called, is neither more nor less than
an attempt to make the Government respOnsible for
an amount three times greater than the value of all
the property which they have ever received, in money
or materiel. A Commission will be appointed to pro-
ceed to Europe and investigate the claims on the Go-
vernment; and for the amount substantiated as having
passed into their hands, they will . make themselves
responsible, but for nothing more.
" Consider—A Spanish CoMMiuionl—lnvestiga.
tionl—Vouchers !—New Instructions !—Fresh powers!
—.With all the et Maas well known to those who
have ever had a contested case before any of the Spa-
nish Courts! At the end of six months some persons,
called Commissioners, will proceed to Europe---,they
will spend as much more time in the examination of
the.accounts, and will report to their Government
the state of the case—a similar period will elapse, or
longer, if the Congress does not happen to be sitting,
before they receive their new powers and instructions
when, at the end of two yea they may possibly b;
giepared to go into the question of adjustment with
dm creditors. But who and where are the creditors?
They will not be now the original Contractors; nor
those-who have furnished the Government with pro-

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