New Spanish "Breach-Of-Fa...
(From a Correapouident.) We collect from a letter dated Paris, Oct. 16, some curious parti. culars respecting the last new project for raising money for Spain. The contriver of this notable 8cheme is said to be the well-known -A. Achille de Jouffroy, who, by his visits to Verona and Aladrid, and by contriving ta jumble kimself up with Guebbard's loan, has amassed a-fortune of 1,200,000 francs, which is still, however, a sum too contracted for his ambition, and he feels, accordingly, a laudable anxiety to add to its amount. His plan, if the trifling diffliculty of its being impracticable could bc got over, is extremely well contrived for that purpose, as the commissions alonc resulting from the con- tract, to be divided of coursc among the contractors, would fall very little short of Aolf a m-iliot sterling. The total of the loan was to be 408,000,000 reals vellon effective, or near 5,000,000 sterling. The lenders, who were to be dealt with very indulgently in point of time, were to be allowed 26 months to pay up the instalments. The bonds were to bear interest at the rate of 5 per cent., and wvere to be issued to the " contractors" at 61, the Government of Spain reserving the right of redemption at par at the end of 25 years, but not sooner. All that the " contractors" were able to obtain in the market for these bonds, above the price for which they were delivered from the Royal Treasury at Madrid, was to be their own profit. Commission to be 5 per cent. on the nominal capital, and in addition a large per centage on the payments of dividends, and on the sum appointed for a sinking-fund. A large amount was to remain in the hands of the " contractors," sufflicient for the purchases of the sinking-fund and the payment of the dividends for two years. Interest to be pay- able at Paris half-yearly, and at a fixed rate of exchange, in order to secure the holders from any loss by its variations. In short, there wanted only one condition-tlie honotirable fulfilment of former contracts-to make this the most eligible contract in the world. Urifortunatclv for his Catholic Mlajesty, and for the " con- tractors," that condition, with the London capitalists, proves to be a sinie quli non. , ErW SPANISH " BREACH-OF-FAITH" LOAN.