The New York herald., 1846-06-03

In American eairs say again thon that my opinion is
that any seizure OF Mexican territory ey 'ne > govern.
doubt also by England i would be ludicrous in to
presume 70 advise American as to the to
adopt in the present posture of AFFAIRS but say to Ame
rican Journalists Wait Wait. Wait and in few
years Mexico viii be yours; but If you attempt seize
any portion OF IL you will most likely have to
count with England and Frances and in that case you
may depend upon it that England and France united will
The Mexican Debt In England.
From the London Times May I6J
For some time past there has not been question dis
Of the acceptance or rejection Of the Mexican PROPOSE
tons The committee, il is expected viii declare in
both oral and by letter to believe that
there will be strong opposition on the part OF the de-
erred interest who not IN the least convinced by the
arguments Of the other party
The great and important point for which they
tended is that those arguments which involve dstnc-
tion their position in October, isa7 and
that of the active bondhoders at the present moment
the Of the agreement which is endorsed both
the deferred and on the active bonds The third article
OF the decree upon which the operation of 1897
based is there described having been modified and
the modification is cited as follows:
Interest on the Nationsi Consolidated Fund shall be
payable in London half yearly the LIST OF April and
the ls of October of each year The bonds of the
first series 70 commence to bear interest the ls of
October 1885 those of the second series from the st Of
October si and for the better securing the punctual
payment of the said interest the Mexican government
shall appropriate irrevocably thereunto sixth part
OF all the Custom House duties OF the ports OF Vera Cruz
and Tampico."
II need be explained that the bonds Of the first se-
re the Actves and those of the second series the
Deferred The words said interest say the deferred bond
holders distinctly refer 10 all the interest which shall
fall due either of the classes Of bonds well that
which commenced in 1887, as to that which will Tor,
ther ought in ls47; and there is not the
looking the clause in question this be its
natural and legitimate Interpretation and the distinction
10 which reference was made yesterday seems complete
y to vanish
On another distinction not of the rights but Of the in
a
ent writes as follows So
your city core spondent in his observations on the
unjust proposition of the Mexican government regard
10 the holders of deferred bonds remarks
/" The active bcndholders may indeed be little dis
satisfied at the composition which is offered them for
their three overdue coupons but they will be pleased
find the large quantity of Active stock which threatens
70 flow into the market in the autumn of ls47 reduced
less than half its original amount
Permit me 70 observe that if they do escape such an
inundaon in si7 is only to submit to it in 1896 the
deferred debt due in ls47 amounts to 62aOO which is
proposed to be cut down 600 whereas the decree
which makes this unfair proposition Active
debt OF 465o0OO the dividends to commence from June
1886.
1T is professed that Mexico cannot meet the pay
ment Of dividends 1924 900 in sas and yet she offers
security for the payment of dividends 1850 900 in
1916
II is hard for the holders of Active Bonds to have
their coupons which have been due for year
deferred bond holder whose bonds represent over
due coupons to he kept out Of his money for
and then instead of his dividends being converted par
they are again cut down to 40 per cent
The best thing for the meeting to do would be to
1ect the terms offered unanimously, authorize the
committee to treat for better terms and generally
understood that the Mexican minister here has full
powers 70 grant them.
1T wonli indeed be very amenabe that any division
should exist among the bond holders and trust there is
too high minded feeling among the Active bond holders
to seek any temporary advantage at the expense Of their
fellow bond holders"
II remains to be what arguments be brought
forward on Monday against the very clear and stringent
objections Of the deferred bond holders Statements
that Mexco can do or is in immediate of
money, viii not suffice The deferred bond holders
: not pressing any claim they contented to remain
quiet for the next eighteen months and to let their
tive brethren have the benefit Of their position in the
meanwhile All they ask is that their present situation
may remain unaered and that they may not be deprived
OF the rights which ought to accrue TO them in October
ls47 If the Mexican Government is then unable
tsty the demands of its increased number of claimants
let it, they say propose arrangement the whole
body without distinction
correspondent suggests plan, which We insert
by remarking that base the principle of treating
all the bond holders alike
!" would suggest my fellow bondholders for their
consideration at their next meeting, that the whole
amount of active and deferred Mexican debt well as
the debentures shall be consolidated into per cent
stock and that bonds shall be issued than
are actually necessary Tor exchanging the present
be for about Ell 900 600 sterling, altogether This
would enable the government, according to their
showing to pay the future interest with punctuality
whilst the sacrifice the part of the bondholders would
be more eqnally borne, But to exempfy my proposal
in figures should the consolidated Mexican debt to
be, IN round numbers say ell 100000 upon which the
annual interest would be- at per
Now, according to the statement
of the Mexican Finance Minis
ter, the custom houses of Vera
Cruz and Tampico produce
nunly So 1000; and there
fore the 30 per cent assigned for
the interest the foreign debt
would be. ............ sl,2o0,o0o
The duties the expectation of
silver from the ports in the Pa
cifc (Which he proposes 10 add) 900 900
nd the minimum net revenue Of
the tobacco monopoly which is
also proposed TO be added. -. l6I667O
sso76s7o . 6lbss4