Alexandria gazette & advertiser. [volume] (Alexandria [D.C.]) 1822-1824, 1823-11-25
coLOMBrA-ZEA,s LOAN.

we YeSteruHy pSoniscu sotDo cAtEdcs u
fron lbe Caracas papers, received Al
our oihes by tho last arrival from La
Gusyrs, and a. the LOAN negotiated IN
England by the late Mr. ZEA, Envoy
OF the Colombian Republic, has been
so frequently mentioned in tho News
Papers, and as we have reason to be-.
Iiese that some Of the Colombian bonds
issued OH this loan are held in this
country, we insert the Law of Con-
rre.., lately assembled at B9gota, rela-
live TO this affair.
CONGRESS-BOGOTA.
The Senate and chamber Of RePre.
,sntatives Of the Republic of Colon.
eia assembled in Congress
Having considered the message Of the
Executive. with all the documents ac-
companving it, in which 10 submitted
10 rhe legislative body the conduct OBJ
served by Francisco Antonio Zea, for.
merly minister plenipotentiary from
Colombia, in his financial arrangements
in Eur pc. and. bearing in mind that
even had Mr. Zea been legally autho.
rised to make such arrangements, and
possessed Of competent powers for rais-
Ing loans in the name of the Republic,
no could only have negotiated and con-
trae,ed hem. and, iD no wise have de-.
6ui,ively concluded them land. much
lsss receive and dispose of their amount.
without having obtained the previous
consent aud appreciation OF Congress,
or it's express authority for SO resolving
and disposing Of them: without which
requisites the lenders of such monies
could not furnish him with them, IN
les. oy voluntarily subjscting them.
selves to the contingency Of such ap.
prevail or disapprpval, as might after.
wards be made by the legislative body,
which is exclusively authorised by tho
Fundamental laws Of the Republic to
contract debts on the credit of the ma.
,ion. and to dispose Gifts funds:
2dly That the ex-minister Zea not
only contracted aluan in Europe oftwo
millions of pounds sterling in the name
of the Republic, bu, that he did also for
the most part receive, distribute, and
consume il on his own personal autho-
rity, in paying former debts, without
Sthe necessary liquidation; as we'll as in
paying subsequent ones, which he him.
self occasioDsd by transactions grew.
oasiy heavy TO the SAFE, both increas.
ing the capital Of the debts; doubling
the interest, gratis, awarding rscom-
penses, freconocimientos) some with.
out the necessary proofs, and others
purely gratuirously, and with exhorbi.
tant additions to many of them, and al
loling for the payment of the said loan
even funls which do not belong to the
Republic, .ueh AZ the fifth part of the
precious metals coined 10 Colombia, of
which scarcely three pee cent belongs
to government: and in short, admitting
as cash the obligations or payments
gwen by himself, in virtue ofan act ce.
lsbrated 10 London on the lst of Au.
gust 1890, to the CT editors of the Re-
puahc, without having attested Or au-
dlied their respective accounts: inde-
pendent ofother obligations which he al
90 put in circulation in like manner at
his own discretion, without having op.
por,unely solicited, waited, or even OBJ.
tanned that appreciation which was in
dispensibls to such operations.
3dly. That the two nations of New
Grenade aud Venezuela having been
united in one nation, under the denom-
ins5ion of the Republic of Col ombia,
on the l2tn Of July 1921, by a solemn
act on the part of their lawful represen
tatives, assembled to saaction this new
political association, aud its fundamen-
tai institutions. the powers of ell for.
mer public functionaries and agests
cea ed with that act, and consequently
the powers granted to the ex minister
Tea 90 the cath OF December 1910, al
50 expired: not only that he should not
eon;inne, in virtue of them, the diplo-
matte affairs to which his instructions
confined him, but more particularly
that he might not enter on those tinsn.
cial arrangements to which be subse-
quen,ly sought to extend them; not
withStanding bis being aware Of the in
novatioB as is evident from his aking
merit of these new laws, in the wales
which he issued on the 18th Of March
1922.
4,hly. In shors, that atthe same time
that it is the duty of congress to pre-
ven, the disspation and waste Of the
natiopal interests whose rights have
been deposited in their hands, it 10 DOT
less so. to fulfil religiously the just OBJ
legations In which the honor aud repu.
tation Of the nation are compromised {:
and desiroas of consulting and attend.
log TO all these considerations, and OF
not defrauding individuals Of their just
claims.