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

trfom the London Chronicle, Nov. 81
The committee of BuenOs Ayres bondhOlders have
TO day Issued report Of the proceedings which
have taken place since the general meeting Of bond
holders In December last, from which 1t appears
that they have been seduously engaged In en-
TO Just sense the claims of the English creditors.
The report now issued Is of much interest but is far
from containing favorable ne for the boLdholders.
In late message by the President to the Chamber
OF Deputies, his present Excellency, with regard TO
the foreign debt, 0beerves:-
The public debt is considerable but it is not of so
alarming nature for country which has such unde.
veioped resources as ours the therefore
Of opinion that is necessary toattempt its adjustment
The administration of Rosas had indefinitely postponed
the ayments Of demands the treasury the amount
OF which is not yet ascertaned which
may be nearly assumed that the debt anterior to the
ID OF February amounts to $45, 600 0O0 including in
ms sum the produce OF the estates confscated by
Rosas the of which he distracted from the cash
department. deposits The exgbe debt contracted after
the % OF February exceeds SO 0o without including
credit acknowledged in favor of Don Tomas Sloyd Asey
which amounts to 20 900 hard dollars payable by an an
nuity Of 10 COO hard dollars The loan of as 600 600
that the prov sona government of the nth Sentember
asked from the mint is still unpaid and likewise the in
terest thereon The government informs you with plea
sure that the issue OF $40 COO by the law Of tho 18th
May last very nearly covered by the eras receo
ria RENTED by the government TO the mint The gov
eminent also informs you with the pleasure that
at the close Of the ordinary session fulfilled the duty
ii had inn ose1 itself to give an account of the app
cation OF the funds voted by for expenses The
government in the very midst OF the serious difficulties
which existed, has continued to pay the assignment of
5000 hard dollars of the London loan The
governmentbeeves that il would be very easy to make
very advantageous arrangement with the bondholdors
the result Of which would be to raise our foreign credit
and gradually 10 extngush debt which has immensely
increased only during the mismanagc of the admin
itration of Don Juan Manuel de Rosas With the same
exactude the interest Of the public debt has been paid
and the interest of the 81 1856 500 of treasury bills with
the dimnuton granted by government in November
last.
Subs quently the Minister Of Finance made promo
sals to The mittee through their Representative
nj n;tfan Josr
uadmiss.ble, who thefeupon made strong ard fur
Tier REPRESENTATION to the Buenos Ayres govern
ebt for settlement OF their claims, and finally
Nj Giro submitted tie following plan for conside-
ration
Iroposals for adjustment Of the Bueuos Ayrcs
foreign debt submitted to the Bucnos Ayres
date Of August 8, 1854.
The undersigned commissioner Of the committee Of
spanish american bondhoders in accordance with the
expressed wishes Of his Exceency the Minister of FL
nance and with the hope and intimate desire OF obtain
ing final and speedy arrangement of the debt BY
submits TO his Excelency the following conditions and
suggestions, namely -
That with respect to the original of 81 600 600 Al
per cent since reduced by the operations OF the sink
ing fund.- 10 f977 COO all the conditions Of the contract
cced on the loan bonds be strictly adhered to- and re-
ualty to pay to the bondhoders the interest az falls
due, and provision be made also for the sinking fund
until the loan be finally paid off.
That with respect to the interest on the loan now due
by the state which, from improvent neglect and to
the inconvenience and detriment Of the bondhoders has
become AZ the present time equal 20 arresr OF nearly
twenty six years full payment thereof be made forth
with ~ however the government finds II impractca.
pie 70 ADOPT TINS plain and satisfactory course without
suhjecting the State to much present inconvenience
that at least proper efforts be made by the TO
diminish the amount and by immediate cash payment
to reduce IL down TO 81, 100000
That this sum OF I'll 800 600 be forthwith consolidated
and sterling bond. of f2o each be issued TO the holders
OF loan bonds IN lieu OF the same amount due 70 them
in money such bonds TO carry interest at the rate Of
per cent annum, payable In London half yearly on
the 18th OF January and 18th Of July and to psre Of
all and the same guarantees the loan bonds therein
recited, and whereof a copy is herewith appended.
The Undersigned feeds persuaded that his Excellency
we Minister Of Finance and the government 81 Buenos
Ayres will not fail and and scknovIeSre The great
and good disposition manifested by him IN
The preceding proposition, by which he not cny opens