The dishonesty of the pre...
The dishonesty of the present Spanish Government, in refusing to pay the dividends on the Bonds, appears to have excited more indignation, or at least to have called forth more lively expressions of it, on the Paris Stock Excnange than on that of London. There was a general cry of "Down with GUEBHARD'S loan!" If GOUnHARD or any other agent expects to make a loan for such a Government as that of Spain, the interest upor which loan shall be se- cure, he greatly mistakes. A bankrupt may obtain fresh credit, if he faithfully makes over whatever effects he may possess to his assignees, and discharges his old debts up to the best of his ability: but one who by falsehood and chicane eludes his responsibility, can never be trusted where he is known, except upon such terms, and with such an acknowledgment of risk on the part of the lender, as would almost justify a second evasion (though the first was un- provoked and dishonourable) on the part of the borrower. Courts of equity, in all nations, at least go so far as to en- force the cessio bonorurn ef the debtor. This is the univer- sal law of Europe. We do not see, therefore, why Cabinets as well as law-courts sbould not conformn to it, and act upon it WYar, certainly, is the ultima ratio regum, and we do not desire our Government to go to war upon this question; but we think it might urge such remonstrances, and take such measures short of hostilities, as would produce a con- siderable effect on the mind of FERDINAND.