The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-11-20

the way TO relieve the government Of the weight and
inconvenience Of raising money 70 meet the entire amount
for interest in arrear by reducing the required i'm
mediate cash payment TO less than seventh part, but
furthermore consents 70 take bonds for the remaining
rate OF per cent whereas money commonly commands
IL per cent aud upwards at Buenos Ayres and In Eng
land tho creditors paid in money instead OF bonds ~
suggested could readily invest il ut to per cent and
UPWARDS with satisfactory securities, not subject to
neglects and difficulties
IT. on their part the government Of Buenos Ayres WILL
through his Exceency the Minister Of Finance promise
TO fulfil henceforwar all the conditions of the loan and
which would attach likewise to the new series OF
bonds without inter- ption-a which the British
bondholders fully entitled to demand and expect and
which Is TT and proper for the Government to
pouS no aouSt Be- f.thfuy carried oat the under
signed proceeding the good feelings thus then mutu
ally manifested, would be disposed to suggest, and,
under that expectation and confidence will even now
suggest an important step further STILL on his part to
establish good and cordial understanding with which,
however all further concessions must IN justice 70 tho
bondh0lders end-that Is to say, the following spe
cal arrangement being now agreed upon and adopted
by the Government, with respect to the new series OF
est thereon suspended entirely for the space of nve
years and to be then resumed the amount remaining
uncanceed BY the operation OF this special PLAN 10
That the bonds Of EGO sterling, to be given for the
amount Of FL coo be also made to represent local
That they be received currently at that axed value,
in full payment Of any public lands which the holders
may at any future time agree to purchase Of the State
payment OF customs duties for third part Of the
amount Of duty payable by the holder Of the bonds he
settling for the remaining Of the DUTY que oy
of customs duties may direct without distinction OF
persons, or prejudice Of any kind tc himself.
ted for the full value each Of hundred
silver dollars reducibe when necessary into paper
rency a precisely the same rate and value as actual
silver dollars would be ct the time.
The undersigned begs to remark that II this special
proposition adopted it would not alone relieve the
o Sus likewise
convenient way for gradually paying Of this very mate
rial portion Of tho indebtedness Of the State This plan
with the advantage to the State of inducing many Of
the bondholder to become purchasers OF public lands
and bring them into and productive
ness and encourage and foster immigration two things
Of the highest Importance to the country. .
The undersigned must now, in conclusion, necessarily
but respectfully add that in submitting the foregoing
propositions to his Exceency the Minister of Finance
and the of Buenos Ayres the undersigned
must be clearly understood 70 have done 50 WIN
question friendly and liberal basis, the reasonable
Of which he feels confident cannot for moment De
questioned and he therefore hopes they will meet entire
appreciation and be at deemed acceptable and be
adopted by the government of Bnenos Ayres but should
this unhappy be not the case nothing herein said or
rights of the British bondhoders who will remain IN the
position before fully entitled to the satisfaction
lated year by year. the time past and future which
alone would amount to much more than is contemplated
in the present suggestions The undersigned on pre-
sentng to his Excelency the sentiments OF his high con-
sderaton and respect his Excelency win be pleased to
honor him with early reply, that he may know, with
all convenient speed the views and intentions Of his Ex-
celency and the government Of the State Of Buenos
Ayres. JAMES GIRO.
The President Of the republic, in his recent mes
sage to the Legislative Chamber, states the finances
Of the republic to be In very satisfactory condi-
tom that all current claims on the Treasury are
promptly discharged; and he proposes to the Cham
Der . vote OF $l2,740 600 currency for erecting .
new custom house, 81 200 900 for pier, and other
sums for purposes Of public utility, but hardly pre-
sentng higher claim to the attention Of the State
than the discharge Of obligations involving the honor
and good faith Of the nation.
The following n the present amount Of capital and
arrears OF interest Of the Buen0s Ayres debt, viz
Original capital Of the loan, FL 900 000 redeemed
ELS 900; remain, f977 900. Arrears Of interest from
July H. 1929, to January IL, 1856, both inclusive
being 25i years. ct per cent per annum, FL $40