The New York herald., 1872-11-20
s p I N
Cabinet Conosru for Cstslsa. 'a-constitutiona
Reform-Legislativ Aid to new
Bank-Plan Of National yinANce.
TELEGRAM TO TINE NEW Yoax HERALD.

MADRID, Nov. 10, 1872.
CONDITION or THE KINGS HEALTH.
The condition OF health of His Majesty King
Amadeus continues to improve ana the complete
restoration OF his strength is looked for at an early
day.
THE SLAVERY QUESTION.
During the session OF the Senate to-day Sehor
Rivero presented o number of petitions praying
for the emancipation OF all slaves held in the span
ish domnions.
CRIMINAL LAW AND CONSTITUTIONAL REFORM
During the session OF the lower branch of the
Cortes yesterday Sehor Rios announced that the
system OF trial by jury would be established In
Spain befort the 1st Of December.
CABINET REVIEW OF THE CONDITION OF CATALONIA.
Cabinet meeting was held yesterday, at which
the present condition OF Catalonia was under con-
sideratiOn.
TREASURY AID TO A NEW BANK.
In the lower branch OF the Cortes the bill has
been passed providing for a government loan to
the new Mortgage Bank.
The Mortgage Bank Project and Power
and Penalties OF the Institution.
The act OF the lower branch OF the Spanish
Cortes in voting the royal government power to
AFFORD Treasury aid to the new Mortgage Bank by
q State loan will exercise very decided influence
monetary transactions of the Kingdom. The work
which the Mortgage Bank has to perform in
tue national financing, its relationship to the State
property sold and on sale, and the principles OF its
organization and management are all set forth in
the project oil law which Minister Gomez submitted
10 the Cortes and of which the principle has just
been approved by the legislative body.
The most
IMPORTANT ARTICLES
OF the draft OF law read as fOllOws--
ART. 13-The operations OF the bank shall be =
l. Lending under first mortgage on fixed property,
which Is inscribed In the Registr0 de la IrOpriedad
sums not exceeding half OF its appraised value re-
payable by inStalments. 2. Acquiring credits se-
cured by mortgages already existing, which pos
sess the conditions expressed in the previous
cidles and municipalities legally authorized to con
tract loans up to the extent OF the said authorize
ton, and even without hypothecation, provided
the repayment Is secured by special charge In the
estimates Of such corporations. 4. Acquiring
credits against provinces or pueblos, provided they
possess the conditions OF the foregoing article 5.
Making loans TO the Treasury g. Emitting, by virtue
OF the foregoing operations, even up to the extent
Of the sums lent notes (Cgdl,as Hipotecorias), or
other obligations redeemable at fixed periods or
Dy periodical sinking fund (SOrteO) 7. Negotiate
the the said notes or obligations and lend upon them.
tined to the operations already indicated.
ART. l4.-Ihe bank Is also authOrized-1. To re-
celve unds on deposit, giving receipts bearing in
terest. These receipts shall be of not less value
than l25 pesetas g5 4s 2d.l, and they cannot be
covered prior to three days after deposit. The
wording OF these receipts or BOnOS de Cd30, shall
De submitted to the appreciation of the govern
ment. 2 Receive on deposit all kinds OF securities
In paper and money 8. Employ the funds ac-
quired by virtue OF the two former operations In
loans on other securities ana in discounting bills Of
exchange. 4. Take charge for account OF the State
OF the collection OF the direct taxes and the money
operations involved in the service. 8. Take charge
OF the letting or administration OF property
adjustments belonging to the State the provinces,
pueOl0s, corporations or private individuals.
ART. 15.-Fnally, the bank may enter into All
commercial operations which have Tor their object
the promoting OF agriculture or mineral industry,
the societies authorised by the government for
such objects, or to the corporations or syndcatcs
legally authorized, but always under hypOthecatiOn
or other guarantee OF sure realization.
ART. l6-The sum total OF the banks issue in
circulation fCGdIiaS Hip0teca1'ids) shall never ex-
ceed rSe amount OF Its mortgage Oans
THE CLAUSE or CREATION.
This Is set forth in article H. thus There shall be
created in Madrid a mortgage bank (Banco de
Credfto 7erritorial. under the title OF "the BancO
HiD0tecario de EspdH0.' The capital shall be
0OO0,O 900 peseas f2 100, 000 divided into 100 900
shares OF 500 pcsetas each. The bank may increase
Its capital to l5O000,000 pesetas. The duration OF
the company or society shall be ninetynine years.
government shall issue hypOtkecary notes (i,tetes
bearer, bearing six per cent annual interest pay
able half-yearly, on the 3lst OF December and the
Goth OF june reckoning from the 1st Of January,
1874.