The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-02-20

contracted III Holland tor titles Of The new loans
BY the iamo.s roy al Of Porte STE Maize, o
ccnsiiiu tional loans were declared null aud void.
Bowever, IN 1881 the government Of hs Catholic ma
stJ offered 10 the holders OF bonds Of Those oaus called
loans Of the COftes
For the bones -fth active debt, three per Cent
And -hbs the deferred debt three per cent, aud
for coupons IN arrear the amount on tina same
deferred oebt.
That proposal Was rejected by the committee Of Spanish
creditors IN London, ~ beng unjust, thWorthy aud dc
tesable but 1t was accepted by more accommot stiog
iors principally IN France Belgium and the Neither
lanes.
has bt issued, divideu IN
80 s27 French certltcaies at................ $40o
90 Enghsh 10 at''.......'........' 4oeo
That deferred debt was be converted In forty years
each year oDeforteth, active debt three per cent 10
be paid in London sDo Psrs In the years 1928 ana
"a the conversion OF oneforteth per annum in active
debt has regularly taken place Since that period has
remained suspended.
1he law Of the 10th Of December 1884, Intended TO re-
guate all the foreign debt granted " the creditors who
mad rejected the Of 1881 lar advantage
conditions than those which they had rejected In 1888
while aid not settle the tate vi creditors who mad De-
nevoenty submitted to that very conversion and had
cepted bones under the OF the Deferred debt Of
1881, which 10 Of the most legitimate origin
By The law Of the lst OF August 1851, was proposed
70 the deemabe debt OF the second class
the above mentioned BONDS Of the Deferred debt Of 1881
This absurd classification, which will forever dshooor
Law Of the lst Of August has been spite Of all
those who have mixed In the question: III spite Of toe
ports OF the financial committee appointed py the
representatives OF foreign Powers, su1e Of wnica
Interested IN that part OF the debt spite
Of the nrst project o his Ex ,elency the Minister Of
finance. Therefore, the holders who mad not obtained
their bonds IN the last years. TO whom they COST ~th the
ordinary interest, two hundred per cent, still more
have formally protested against offer beyond all pro
portion with their rights Besioes they have established
committees in several capitals 70 represent them on all
occas
debt, three per cent Of 1881 Sand
cusvey reprtsenbonds and coupons in arrear Of the
constitutional oaus Of he years from 1920 70 1923 is
also evdsn that the State bound either strictly eec
uate the terms Of he Convent Of 1881 " place the
holders Of the deferred debt OF 1881 level with
the creditors Who, having refused those condtons have
enjoyed the santages OF tho law November l6 1884,
In the first case the ~ 40bs in Of the deferred
debt should be converted into the active three per cent
debt the interest OF which pay in Paris or London
thus
l4oth with interest from the LIST of April, 1885,
4oh with interest fr I'm the LIST OF April 1886, and so
Until 10th with interest from the Let OF April 1856,
while the
Is 4oh remaining should pass into the active debt in the
In the second case If the government in order 10 sim
py the debt ST ould be willing 10 place the creditors who
had converted their bonds 1884, TO the level Of the
orty who have taken part in the conversion Of 1884,
would be necessary to take for basis the very
table annexed TO Of the OF the deleg
ments RELAXING TO the arrangement OF the pubic debt-a
table which has only TO be modified in proportion 10 the
time which has elapsed since its presentation 10 the
government
1t follows therefrom that to establish just equilibrium
between the holders Of the loans OF the Oores who have
converted their titles in 1881 and those who have oniy
converted theirs by virtue OF the law Of 1884, capital OF
500 Of the deferred debt OF 1881 TO be considered
representing on the LIST Of July, 1856
$i24 of the three per cent deferred debt OF 1851
$251f Of Lhe co. Do redeemable second class.
SHY do. % consolidated three per cent.
And slsz cash down.
Total Ssosl, except the loss TO be made up which
might be grained for the so per cent of coupons
declared void by The law OF the lst Of August
In short, government does not wish, by an act Of
h.Oh nVnh 1mh rtunfa M
holders Of the deferred debt Of 1881 CHE only debt which
remains to be sees) that TO say TO grant them dive
arrears 1885, IL circumstances do not allow
Spanish government this noble PREPARATION which wolld
greatly impress all the exchanges Of Europe at least
bound at all events either TO fulfil the conditions
Convention Of 1881 in the period spontaneously proposed
by Ethe government, or 10 deal with the holders Of
bonds of the deferred debt II their original
been compi onsed the financial arrangement OF 1884.
The justice Of this could never be contested
Brooklyn City News
WOMAN FROZEN TO DRATH-A woman named Mary
Hayes was ound dead Fort Green PARK yesterday
morning. having been frozen to death the night previous
She had been employ ed in the jail and obtained the
privilege lodging there occasionally. IL is supposed
that she her way to that institution. aud oelog
probably, under the Influence Of liquor, fell
thus pershed Coroner Horton held inquest, and
jury rendered verdict in accordance with OF the
case.
.rrENpr To Pass COUNTERFEIT BII~-A woman ma ned
Mary Mclaughlin offered i've dollar ohi ON the New
Haven Bank grocery in Fulton street, Saturday
night which detected To be counterfeit The amount
Of the purchase shipgs. She handed the gro
five dollar god piece, Of which be took his pay
and gave her the change Meanwhile officer Watdy
brought and he arrested the woman who locked
up for examination The grocer only kept the
purchased. but also the money.
BROOKLYN CRY MORTALITY The total number OF deaths
in this city last week l2l Of which Al adults
so children OF the latter SO under year o. age
OF the Diseases 10 died of consumption s OF
Of inflammation Of the lungs, OF congestion OF tue
lungs, Of typhoid fever, OF hopping cough, NC Ma
tves Of the United States, 30; Ireland, 16 Germany 10
England, 8; France, q
The Ice RIvxR-The East river is full of floating
ice rendering navigation difficult and in instan
impossible The Fulton ferry boats un'pterrupedy
yesterday, but the Montague South Hamilton
boats prevented from running consequence Of
large accumulation Of ice which blocked up the sps
South ferry boat was voyage for hours and
Montague ferry boat Exchange became stuck cake
fee unable TO extricate herself Passengers being
prevented from coming by any of the lower ferries had
come to Fulton street to get " New York The Catherine
ferry boats ran regularly.
C0roner's Inquest.
FATAL EFFECTS OF ISHAIISG Coal GAs-Corouer Jack