The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-09-22
The Engush Loans ia the South American
Nspuhfscs.

FROM the Lopdop Mercantile GATstts. Sept. 10
he history Of loan transactions, II traced from
their earliest introduction, will be discovered ca
furnish Gmplc evds nee OF the. unfOrulats results
enialled upon The general classes OF the communi-
" who have embarked IN this descrPliono l n'one.
.rry opern;Ion. and IL the future IA % he judged
by the experience Of the past vast cGu!ioa ouyht
70 be- exercised 10 the participation IN any OF those
various change constantly being brought 70 bear
upon the several descriptions Of foreign debis, the
securities ~ which ere uah9pily too largely re-
presented In this country. Above all others, Spun
and Portugal, and the Spanish American bequb-
lies. have exhibited degree of rcckessncss an4
iregulari'y IN kccfing faith with their creditors,
and IL IN painful Ia the extreme 10 estimate the
amount Of ruin en,ailed BY Their dedaqucneies.
IL is only when the question ~ convrrsions, CIR.
tsilmenIcf interest, ard similar financial movements
are IN contemplation, tbaire aIe enabled loamVe
at facts in connection with tbs subject, ami
that these facts can b. presented ~ iUrm 70 SHOW
clearly End concistly the real amount of injury
which has been inflicted by these loaTmongcfng
msnUuvfes.
Spein, ut the prefcni moment. is proposing 20 do
something ior tie claimants on her treasury The
dtbt ulon which interest has not been pad Tor The
last ten yesrs after numerC previous Tersions 10
c75,00O,fOO siefhBg. Now, f-ofl a five pr cent
stOct h - proposed tkst thc shall gradually resume
dividends. bcgiunnrNif onc per cCat, and, by
small progression OF %. ptr cen; even iwo years.
eetume al last responsible payment 81 he rate oi
three per cert The foreign dht of Portugal,
which may be s'sted ~ about til OC0 90 sterling,
after suiernr from the ordinary cxcsicns 80 pnpu.
lar among loan contractors agd Oih.fd idfnihf1
with tiock exchange jobbirg. raye, on foitions OF
her obligation, Eve, four, aud Mfcc per cent boz
these dividends are not alwAya regular. hhf arc
made 10 bear the burden of local taxation IN
manner thai " dieFrace 10 that nation. The ior-
eiRB O. Ia of Mslco is ElOnQO,U00 stefirr. Here,
aRnin, have claims been ptgcd down, DIVIDEND &c.
creased nom siX 10 five pcr cent. add. Is q hnal
cory, sub teriiye proposition s ai. A. 20 inc eject
that The dupfd holders shan drCrpi three per crni
dividend, this bsing The m ,iuirm amount " is nJw
stated tn Treasury cen hquidate The Colombian
Siaiee-New Grenada. Nsuczucli, aud Ecu14 ~
Owe. among them colleciivcly, nearly Ll2Oy ,bO
sterling The first named alone standing moe 0cd
for G6tO0N0, AID each uf thcsc rank as
ddaviier', two having sfnyen, bui ir.td, ~
psy n ccmuuted rstc Ct divide nd and the tufd
with tie characteristic nOnchalante y sq'nsh
Amtfcan behavior. submitting proportions "hich
The euihriitcs well Lrow will never hc ea'er-
isintd. Pcfu-owipg upwards ~ E31gt,WD-hfs
lately, afcr susps nsiun ~ dividends fur marty
quartruf century, found u expedIent 10 cpine 10
ttfms; not because. however, the dictates ~ ho-
nesiy prompted the rovtinment 10 the act of thai
disgrace wac considered attach Ia the ere 10. 81
The republic irurn the absence Ut punCtuaiity "a
The iuhl1fui ~ engagements, but 5ecau.e the
Engiish market was the best and the mosi lucfa.
i've depot for the sale Of pusn0. Toe coniuct "
buehus Ayres--ihe foreign loan, VIII arrears ~
interest, b'irg a. least E2,J OWO-cannot be
ispd'd or said 70 present exceptional citcHm-
stances to many Of the other cases under review;
bot Vet. considering the smbrtiied state 81 the
government with re- ard 10 external politics, some
uiiing allowance may be made for The 1tihrrencc
win which these claims have been treated. Chi,
ptihers, " all The republics menuored, occupits
NE lrnndest position; her government, ueVrtthr-
' '.f'tt rr". A. eye ..E fN 1850 tut"h. p
Stitti~.oA =. siteI. a..i ..,, "a. q ., aiei. ats