Star.
London, England, 1829-10-28 00:00:00

PORTUGUESE BONDS.

The subjoined playful, and at the same time correct
statement of the facts connected with Portuguese Bonds, was yes-
terday morning very generally circulated in the City, evidently for
the purpose of repealing certain groundless sssertions made by a
Morning Paper on Saturday. The whole of the Loan trans-
action has been placed on the footing of a commercial contract,
rendered plain and intelligible to the meanest understanding.—
It is, however, unfortunate, that so clear and simple an affiir,
in- which the British public are almost exclusively concerned,
should have been made a handle for political warfare, and
wielded for purposes to which the holders of the Bonds are en-
tirely estranged. When the Portuguese Loan was originally
transferred to the shoulders of Brasil, as part payment of two
millions sterling, agreed upon between the contracting parties,
and the principal condition on which the independence and sepa-
fation of Brazil were acknowledged by Portugal, it was intended
to render the new Empire an essential service, by giving it
twenty-eight years to pay a sum In, which otherwise must have
been settled by a prompt payment ; but the negotiators of the
Convention never dreamt of sacrificing the bondholders, as really
has been the case. The latter have no cause to blame the Bra-
zilian
Nation and Legislature, who received the full benefit of the
primitive arrangements, as they have kept their faith with the
bondholders, and even went so far as to pay 250,0001. to Portu-
gal, as part of the balance due to the latter, after taking to them-
selves the Loan in question. Such was the state of the affair
when the family disputes betwen the two male branches of the
Braganza family commenced. But these disputes have not
hitherto altered the commercial relations between Portugal and
Brazil, or in the least suspended the operation of the Convention
to which Great Britain was a party. It is now, in fact, ascer-
tained that the second Brazilian Loan. negotiated in England,
was authorized and obtained for the express purpose of meeting
these engagements. Why the payment of the dividends was
suspended, and whether the monies appropriated for their pay-
ment have been misapplied, are points hitherto unexplained to
the British sufferers ; but they lately adopted the best means in
their power to obtain the necessary eclaircissessou, by an appli-
cation to Government, as at the time was notified to the public
in the usual way. What blame may hereafter be attached to those
who unduly withheld monies voted for an especial purpose and
otherwise expended them, is a matter for the Brazilian Legisla-
ture to sift ; but, whoever the agent in London was who received
the funds alluded to, he held them only in trust, and could not
lawfully allow them to pass into any other channel than the one
ordained. The Marquis de Palmella, whilst acting as the Minis-
ter of Portugal, received from the Brazilian agents the monies
which served to pay the dividends on the Portuguese Loan from
Ist of June.lB26, to the lst of June, 1828, and in what character
and for what purpose they came into his bands, will be seen from
his own letter subjoined :
" This being the lit of May, it is my duty to apply to your
Excellency, in order that you may be pleased to point out to me
the day and hour when you will be able to deliver to me the
money necessary for the payment of the dividends and the can-
celling of the Bonds of the Portuguese Loan, the payment of
which is on account of the Empire of Brazil. Goa preserve
your Excaency.
- (Signed) " MARQUIS DE PALMELLA.
_ _ _

" London, flay 1, 1828.
" To his Esce'Wiley Viscount De Itabayana."
The following is the statement above alluded to :
" Whereas, in October, 1823, the house of John Braganza, of
the city of Lisbon, in Portugal and of Rio de Janeiro, ►n Brazil,
did, for himself and his heirs, enter into, through his agents in
London, Certain solemn pecuniary engagements with us, the
subjects of his Britannic Majesty, pledging to us certain rents of
his Portuguese Estates, both for the punctual payment of the
interest and tor the periodical liquidation of the principal;
which said engagements were, during the lifetime of the said
John, duly and honestly performed. And whereas the said John
departed this life in March, 18-8, previous to which the partner-
ship which had esisted between the said John or Lisbon and
those, the parties in the said concern established in Rio afore-
taid,' wat formally dissolved. And whereas the said parties in
Rio, baying been established by the dissolution and separation of
interests, as a sole and distinct concern, did on the 29th day of
August, 1825, for a certain waluahk consideration, the receipt
whereof has been by them acknowledged, and is by them
still retained, openly and publicly take upon themselves all and
every the claims whatsover which we then had upon the said John
of Lisbon, and to which solemn agreement one Charles Stuart, also
a British subject, was a subscribing witness. And whereas we
were not made parties to, or in any way consulted re arding the
said transfer of the said debt to us due. And whereas the affairs
of the said house at Rio are now under the superintendence and
contrail of Pedro, eldest son of the said John. And wh since
the transfer from the house at Lisbon to the house at Rio, the said
house at Lisbon has discontinued the payment of the interest of the
said debt, and the said house of Rio did for the space of two years,
in performance of the agreement aforesaid, pay, or cause.to be paid,
the said interest as it became due, thereby of their own free will
and consent acknnwl•dging themselves equitably bound to us, but
without in any way invalidating the claims which we have, in vir-
tue of our original bond, upon the house of Lisbon. And whereas
the payment of the said interest has been for some time disconti-
nued upon certain alleged frivolous pretences of diputes having
arisen bet Ween the said Rio and Lisbon houses, and without giving
the obviously best proof of honourable intentions, by publicly
lodging the money in the Bank of England pending such disputes.
And wh payment has not been resumed hy, tile house of Lis-
bon, but it herb beet repotted to us, and is fully believed that the
firm in ltio has actually remitted the requisite funds for the pur-
' pow of honourably complying with their aforesaid voluntary eh-
gagententa, but which have, either wholly or in part, been con-
cealed or misappropriated by the agents a the house of Rio here,
without the authority or consent to their principal, now we, not
only su6brlag grievous pecuniary loss thereby, but viewing with
indignation and diegost such a disgraceful breach of gupd faith, do
hereby give notice, that any person or persons giving such intim-
nsation al ritual lead to a discovery of any of the effects afOresaid,
which may still remain in this country uninviolated, in order to
arable ss to take legal steps for having them attached, sh ill be
liberally rewarded upon application to
" JOHN BULL an I CO.
" Equil Court, Chancery-lane "

BOSTON (NEW ENGLAND) PAPERS.

The Editor of the Canatiittit Farman, who had been
confined in prison ten months and twelve days, for a on the
Attorney-General of Upper Canada, was liberated on the 10th inst.
by a special order from the King. The release was free and uo.
conditional. Mr. Powell, the late Chief Justice, bruughc the dis-
patch to Sir John Colborne. The Editor says he has come out .1
" richer man, in better health, and twenty-eight pounds heavier
than when he went in."
Loss or SCHOONER BosTON PACKM—The schooner li•iston
Packet, Capt. Jeremiah French, of and from Bucksport, loaded
with wood, was run down off Cape Ann, by schooner Friendship,
Capt. Brown, of Darnariacotta, on Saturday last, about midnight,
when she filled and upset immediately. Two female passengers,
one the sister to Capt. French, the other her con , were
drowned in the cabin, and the remainder of the passengers
and crew lashed themselves to the bottom and rigging, the sea
often breaking over them. and must of them with scarcely
any el thing, and nearly perishing with cold. Capt. Brown as-
sured Cape. French that be would take his crew on board, but,
after getting clear of the wreck, left them immediately, and
was son out of sight, and did nut return. The passengers and
crew were with difficulty tak. n off, after remaining twelve hours
on the wreck in extreme suffering, by the humane exertinns of
Captain Landerkin and crew of schooner Tryal, bound to Krone-
beck from Marblehead, and landed at Provincernwn, Cape Cod,
where they were treated with the greatest hospitality ; and
brought from thence by Captain Howes, in saloon. r Lucy and
Abigar, who treated them with the utmost attention, and did
every thing in his power for their comfort and happiness. Nor
the slightest blame attaches to Captain French. Since receiving
the above, we learn the Boston Packet was towed into Cape Am ,
yesterday morning, foil of water, having been fallen in with on the
Middle Bank.