London, Tuesday, February...
The Times, 1824-02-17T00:00:00

Paris papers of Saturday were received last night. WV subjoiu the only article they contain of the least import ance, the interest of wviich, Ihowever, is chiefly confined t the creditors of the Spaniish Goverament. It should rc escape notice, that amidst the laboured endeavours to in. duce a better opinion of the Spanish financial system, no a hint is given of the only measure which can entitle it t the consi deration of foreign couantries-we mean the recog nition of those debts contracted under the government o the Cortes, and which have passed throagh everv forr which could render a contract binling. MADRIID, FEB. 7. The following is the preamble of the Royal Decrece of the 4t instant, creating a caisse d'arnortissemnent (sinking.fuind) :_ " On the 13th of October, 1815, and the 5th of August, 1518, ordered the arrangements which I judged to be suitable, to establis on a solid basis the credit of the state, and give security to the cre ditors. I proposed to accomplish these important ends by assignin, to the establishment for p ublic credit, considerable funds, to be ad miinistered by the ostabhLshment itself to which I destined thema, tlh they might not in any case be applied to other purposes. Thi precaution, which served and had already been successfua employed by my august fatlher, had the inconvenience of ren. dering the administration of these funds very intricate a-d ex. pensive, so that the net produce was insufficient to support credi witl the promptitude corresponding to my wishes and the wants t my people. The evil was however knovn, and I was considering of appl) ing the remedy, when my measures were suddenly impeded by th unhappy events which deprived me of the exercise of my sbVt reignty, and involved in the general confusion the fate of all tb public establishments. " Reinstated in the enjoyments of the rights of my crown, in attention has been fixed on the deplorable situation of a multited of capitalists, reduced to distress or to indigence by the tots depreciation of the funds in which their fortines consisted. Con vinced of the necessity of correcting a state of things whict opposes continual and invincible obstacles to the creation and in crease of the credit of the State coDnvinced that if to meet the cut rent wants of the Government, it is proper to contract a loan, it, indispensable that there should be-an establishment which .shall pt riodically pay the interest, and repay tho principal, also, at state periods; taught by constant experience to renounce the hope of see ing- the institution cal}ed I of public credit' suffice to obtain thin advantages, and adopting the advice of my Council of Ministers I have resolved to obtan them by other rmeans. In consequence have resolved as follows, &ec." ANmodi thb isumerous arclel thfishidemre*, iwd remiirk the foL lowing :_ -" An annual gum of SO millions of reals shall be assigned to tb caisse d'nomrtisenneng (sinking fund.) " It hall. answer for the payment of the xtew obfigatioya, whict under present- circatnstances, the Treasury may contract, to tOte the curent wants of the Gwovernmeat. " The establishment called ' of public credit' is suppressed." The 2d artiole, creating a Committee of Liquidation, i conceive in the folowing termi:- > "The functions of tlis comeittee consist in vesfying and liqu: dlating all the debts of the State, proreeding either from capitals5 I the interest of those capitals, or from arrears of pxy and pensiont provided that they are founded on titles anterior to the 7th of Marcl IX20." Art. 6 obliges all the creditors of the. state recognized, by a) 2 to present the papers, authenticating their claars, in the time P0 days. Those cl4is shsal be inscribed in the Great Book7 opened fi this purpose; but after the expiration of the abovernentioned tnu- none shall be admitted to swithdraw (admsis a r6ti7cet') ins irt, scription. - The Rloyal Viles axe 4ot included in the above arrangencen;, They willnot be admitted till the question of their renewal has bee ! resolved. In aitide 14, the Kingreserves to himself the right of d 5 termiing the uniform mode of the titles which are to reprvss nth publ'c debt, when the ruisult of the liquidation shall have' sho i extent. FRExccr FusmDs, Paris 14-Five pt- Cents. opened at.98 7l closed at 9875; Loan of1823, l ; Ban=kStoed1, LJ720; Neapok> tan Five per Cents., 83k; Spansh Rentes, 27. Exchange onLa don, one month, 25 45; three mnosths, 26 35.-Cours Autsentaq. ii LOVDOX, TUESDAY. FEBRUARY 17, 1824.