The Arkansas banner., 1847-08-23
Knula.l. Lean. [. rsr.Iru s..se..

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 A long eotrespoudence has been laid on the table of the House of Commons with Austria, Spain, Portugal, Greece, Mexico. and the States of South Amehca, Lord Pal mefs,on, ia explanation of the omission of { the United States from the document, ac- cording to the terms of the motion, said ''ihat ] tho greater part of the debts due by the North l American States were due by the local states. and not by the Union, as an aggregate bodv.n
 In the debate which followed on the 9th inst, on the motion of Lona George Ben- thick, for an address to the crown to take such steps as might he advisable to secure for the British holders of unpaid Spanish bonds redress from the government of Spain, Lord Palmerston, while opposing the mo- ton, agreed with the principles of the public policy as laid down by Lord George Ben- tinck, but differed as to their limited appli- cation. Lord Palmersion, after recapitnla- ting all the arguments which had weighed with successive governments to induce them to show lorbearance to the various indebted states, when applied to by their creditors in Europe, thus concluded:
 ''But the Northern American States, who really are able 10 pay, and who have no ex- cuse whatever for not paying, who have no internal revolution, no military dictator. no civil war to justify their breach of faith, should hope would not wait for the example of their southern brethern, but would them selves wipe from their history that blot, which must be considered stain upon their national character. l do not differ from my noble friend SO far as this goes, and if ii were the policy of Englaod--the wise policy of England--to lay down rule that she would enforce obligations of different kind, think we should have fair and full right, accor- ding to the laws of nations, to do so.
 Although enireat the House upon grounds of public policy, not to impose at present upon her Majesty's Government the obligations which the proposed address would throw upon the; yet would take this oppor- tunity cf warning foreign governments who are debtors to British subjects. that the time may come when this House will no longer sit patient under the wrongs and injustice iu- flicted upon the subjects of this country. would warn them that the time may come when the British nation will no, see with tranquility the sum of 150 millions due to British subjects and the interest not paid.
 ssAnd would warn them that If they do not make proper efforts adequately 10 fulfil their engagements, the government of this country, whatever men may be in office, may be compelled, by the force of public opinion, and by the votes of Parliament to depart from that which hitherto has been the estab- Es ka1 %f EnxlanA and tS,s the payment of debts due to British subjects. That we have the means of enforcing the rights of British subjects, am not prepated @ dispute. It Is not becanse we are alraid of these States, or all of them put together, that we have relrained from taking the steps to which my noble friend would urge us England, 1 trust, will always have the means of obtaining justice for it's subjects from any country upon the face of the earth.
 ''But this is a question of expediency, and not question ot power; therefore lei no foreign country who has done wrong to British subjects deceive itself by false im- pression, either that the British nation or the British Parliament will forever remain patient acquiescents in the wrong, or that If called upon to enforce the rights of the people of England, the government of England will not have ample power and means at it's com mand to obtain justice of them"
 The latter part of he noble lords speech was listened to with the profoundest atien- ton, and when the noble lord resumed his seat II was amidst burst of prolonged and energetic cheering.
 THE CHICAGO CoNvENTtox.--We copy