Star.
London, England, 1830-06-03 00:00:00

Sketch of conditions for the Guarantee of the Loan to Greece.

I. Each of the three Powers shall respectively guarantee a loan of
20,000,000 of francs.
2. The guarantee shall extend to a period of 30 years, and shall
be given to his Royal Highness Prince Leopold, in his character of
Sovereign Prince of Greece.
3. The payment of the capital shall be effected by instalments.
4. Provision shall be made for the establishment of a sinking
fund proportioned to each instalment, and which shall amount to
2,000,000 of francs a year, when the whole of the loan shall be pad
up. This sinking fund, divided into three equal portions, shall be
applied to the extinction of the debt contracted under the guarantee
of each of the powers.
6. The Greek Government will secure the annual maintenance of
the sinking fund, and the payment of the interest of the loan gua-
ranteed by each power, by assigning over to the contractors the
produce of certain specific branches of die revenue of the state; ot
by making available for this purpose such other resources and secu-
rities as shall be thought fit.

His Royal Highness Prince Leopold to the Plenipotentiaries of the
three AlliettCourts.

.Marlborough-house, Alay 11, 1830.

The undersigned received at Claremont the communication of
the Plenipotentiaries of the three Courts, dated the 7th of May.
The undersigned regrets to find th t, notwithstanding that he had
clearly expressed his determination of not departing from the terms
of the memorandum of the Mit of March, it k proposed to substi-
tute payment by instalmer.t for the method proposed by him in the
first article of that memorandum, in which it is said that the
Greek Government would not realize more than the sum necessary
for the wants of the :rate.

In the explanation given relative to the change made in this
respect, the Plenipotentiaries seem to infer that it would be for
the advantage of the Greek llovernment, inasmuch as it would
render them independent of the opinion which any, one of the
powers might form as to the urgency and the extent of the neces-
sities of the new state.

The undersigned must observe that the memorandum of the 10th
of March no where admits the principle of control on the part of '
the Allied Powers with respect to the extent or urgency of the "be.'
comities of the Greek State. On the contrary, the right of decision
is expressly reserved, as it evidently ought to be, to the Greek Go.
vernment. _ _ _ _ _ _

.....
If it is inter.dcd that the proposed loan should be really of ea.
vice to Greece, it is necessary that it should be disposable in such
sums, and at such periods, as the wants of the State shall require s
and of this the Greek Government can alone be a judge. Without
this right, which, in the opinion of the undersigned, cannot present
any difficulties to the Allied Powers, the Greek Government would
find itself restricted to the limited amount of the periodical instal-
ments, and exposed to the greatest difficulties, as well as deprived
of pecuniary assistance, at times when such assistance would per-
haps be of the most urgent importance.
The undersigned having no other interests in view than those of
Greece, and the establishment of a stable and effective Government,
thinks it his duty to revert to the method proposed In his memoran.
slum of the 10th of March, and to claim, as an indispensable condi-
tion, the right of contracting for the whole or such part of the pro.
posed loan as he shall think necessary ; renewing at the same time
the assurance, that it will be his wish, as well as his earnest endea-
vour, to limit the amount as much as is possible, consider.
ing the state of this unhappy country after so long and so cruel a
war of extermination.

The undersigned will not, for the present, discuss the other
points of the plan commmunicated to him by the Plenipotentiaries,
but he must observe to them, that no mention is made in this plan
of several of the most important parts of the memorandum of the
10th of March.

The undersigned, &c.
(Signed) LEOPOLD, Prince de Saxe.
To the Plenipotentiaries of the three Allied Courts, &c.

The Plenipotentiaries of the three Allied Courts to his Royal
Highness Prince Leopold.
London, May 16, 1830.

In reply to the note which his Royal Highness Prince Leopold
did the members of the conference the honour to address to them on
the 11th instant, the Plenipotentiaries of the three powers lose no'
time in transmitting to him the following observations:
The undersigned hay.: already had the honour of declaring expli-
citly to his Royal Highness the consent of their Courts to guarantee
respectively a loan of 20,000,600 of francs.
The mode of effecting these loans, and that of realizing them, are
points of only secondary importance, and may be settled according
to the real wants of the state, and considerations of mutual conve-
nience. The Plenipotentiaries, therefore, with the view of hastening
the conclutoon of the urgent affair in question, respectfully invite
his Royal Highness either to make known directly to the Conference
the details of the plan according to which his Royal Highness would
propose to conflict the loans, or to place the }Plenipotentiaries in
communication on this subject with persons possessing the confidence
of his Royal Highness.
The Plenipotentiaries cannot but observe to his Royal Highness,
that on the 3d of this month they had the honour to inform his
Royal Highness of the resolution of their Courts relative to tho
guarantee of the loans. Sincerely regretting the delay which has
taken place in this business, and the evils arising from it, the Plc.