The New York herald., 1862-01-18

IMPORTANT FROM MEXICO.
Our CITY OF Mexico correspondence.

1mA VA ANt NUN uAEAAOVe
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Our City OF Mexico Correspondence.
MEXICO Nov. 20, 1861
Negotiations for Loan by the United States to Mrico-
TERMS of the Treaty agreed Upon-Nine Millions TO be
Advanced by the United STATES the Pledge of the Public
Lands and Church Propsrty-Rejection Of the British
Heaty-Hs Effect Upon the Action of Our Minister-7sm-
pora'y Wihdra,eal of the Propositions Of the United
States Goue'nment-AH Parties Waising for the Firt
Move Of he Allies, dc.
Since last wrote to you events have progressed
rapidly Exciting as the formidable naval and military
demonstrations being directed against Mexico must
prove to all in the United States. they not
passed In interest by the diplomatic transactions in
nection with them which have taken place hero and
which, owing to my peculiar opportunities am fortu-
nately, enabled to place you in possession Of
You ore not, perhaps, aware that as early the I'd
Of September last in despatch received from Mr. Sew
ard, authority given by Mr. Lincoln to Mr.. Corwin.
our Minister to negotiate treaty with the republic Of
Mexico for the assumption by the government Of
the United States Of the payment of the interest," at
three per Of the funded debt Of that country to
Mexican bondholders, tho principal OF which Is estimated
20 be about $62 0O for the Of five years from
che date OF the decree recently issued by tho
OF Mexico suspending such payment provided that that
government would pledge the United States its faith
.
interest thereon to be secured by lien upon all the
public lands and mineral rights in the Mexican States Of
Lower California Chihuahua, Sonora and Snaoa-the
property pledged to become absolute in the United
States at the expiration of the term Of six years when
tho treaty was to go into effect, il the reimbursement
should not be made by that time. These instructions
made conditional upon the British and French 60
vernments consentng to refrain from hostile proceedings
against Mexico until the treaty should be submitted
the United States Senate and in tho Of its being
ratified thon ong thereafter tho should be
punctuay paid by the Of the United States.
believe that coincidenty with the transmission Of this
despatch, instructions forwarded the United
States Ministers in London and Paris apply the
British and French governments for their assent to the
terms thus formazed. Great credit Is due to Cabinet
for the prompttude with which acted upon the
mendations OF Mr.. Corwin, which, understand, were
themselves based upon the suggestions Of Of the
most patriotic members Of the Mexican Cabinet.
Matters thus far wore promising aspect for the
exrcaton of Mexico from the dangers threatening her
from the action Of tho European governments Pending
however the negotiation circumstance occurred which
compelled Minister to temporarily withdraw his pro-
positions Tho treaty arranged by Sir Charles wyke the
British Minister with Senor Zamacona tho Secretary Of
Foreign Affairs Of the republic and which consider
ed by Mr. Corwin highly favorable to the latter, was
laid before the Mexican Congress- and rejected by vote
or nearly two to As 1t now certain that Eng
land would ake possession of the ports Mexico the
purpose Of securing the debts due to citizens and
that the fleets OF France and Spain would in all proba
bity Cooperate our Minister had other alternative
than to suspend the arrangements which he had made
with the Mexican government should state that these
had resolved themselves into loan Mexico by 60
verument OF nve millions of dollars payable in monthly
anstaments Of one half million per MONTH and secured
by the pledge OF all the public lands mineral rights
and church property. In addition to this, 1t
was agreed behalf of the United States to
make further loan Of four millions OF dollars,
to be paid in Of half million every six months,
and TO be secured in like manner tho five millions
This reduced the amount Of the loan originally proposed
from eleven to nine millions.
Tho rejection Of the British treaty before referred TO,
compelled Mr. Corwn, have stated, to refrain from
completing this arrangement 1t is understood 10 be his
intsntion, however TO again his propositions
She event Of tho European Powers offering to renquish
possession OF the Mexican ports and all further claims
upon this country on the payment Of the interest
their dobts and security being given for the payment Of
ths principal.
The treaty smbodying these arrangements very able
document and shows the face of it, that In Fastening
to the assstancef Mexico, in this her hour Of difficulty
our has boon actuatcd selfish interest
cd motives. The terms of the such leave
hsr ample mo to acqu herself OF the obligations which
she win have incurred to us-that ia, providing her
government s really bent the reforms announced in
President Juarezs decree of the 18th July last aud
explanatory circular that accompanied it, regret that
cannot procure copy Of the treaty but the following
are, a. nearly as I can gather, the heads Of IT.
Article l. The two loans, amounting together nine
millions 70 DO paid in the sums aud At tho periods above
stated, In the current coin OF the United States
bonds with coupons bearing interest at the rate OF six
cent annum payable at the pleasure Of the gov
Arts land s. Mexico to give bonds for the repayment
OF said loans bearing on their TACO the pledge Of the pub
teres thereon Said bonds to be payable in Ave years
from the date thereof to bear interest at the rate Of six
per cent and to be payable scmiannualy at the Treasury
OF the United states ~ America.
Art appoints Board Of 1--WE commissioners, three
to be named by Mexico and two by the United States
realize the amounts losncl by the United states to Nex
from tho sale Of the public lands AMI naonalizcd
main property pledged for their rerayment
Articles s. O. and reg late the powers Of said
mssioners egaize the titles given by them purchasers
OF the public lands and otbor property prescribe the
tho and tn, Of thu bonds be gwen
by them for tho faithful o formance or tho duties aud
nx the maximum OF their salaries (s5 900 per annum)
repayment Of the debt created by the treaty and the in
terest thereon.
Art appoints deposiarics for tho receipt Of the
moneys accruing from the sales Of the public land tho
said deposaros 10 be jointly approved Of by the Prcs
dent Of Mexico and the Minister of tho United states
Fixes also the In which said moneys shall be
transmitted 10 and paid into the Treasury Of the United
States.
The above. nearly ascertain, the provi-
sons Of the treaty They afford the government you
will see the opportunity OF carrying out its proessonsof Of
desire TO acqu tsolf Of its obligations towards its foreign
creditors without imposing on 1t any unreasonable OF
responsibilities. At the time the moral sup
port afforded to by the existence Of such treaty. with
the penalties attaching the ncnfunmont of its condi
tions will mpart to the present liberal administration
cohesion and strength which Of Its predecessors
have enjoyed The question Is, viii England and France
give their consent 10 the emancipation Of Mexico from
the trammes In which they present hold herr leave
Spain out Of view because there is doubt that she will
sudiously oppose every proposition that may have
tendency defeat the hopes that she cntertans Of
gaining tho splendid colonial empire that she forfeited
through her avarico and her cructes. On this point
II Is impossible to pronounce opinion until events
further develcpe themselves. From what has
already occurred I am disposed TO think that
OF Great Vritan dspav moderation