Yesterday we received let...
Yesterday we received lettcrs from Paris by express, dated Monday evering. In one of them is quoted a cu- rious declaration of the King of SPAIN, in relation to tht CJonstitutional Loans, who is reported to have said, on being pressed to recognize them, even at some fractional part of their nominal value, that he would prefer " eating 5 black bread, to acknowledging thome securities to be worth a single mararedi." His obstinate resolution on this point is supposed to have been -well understood by the Spanish Ambassador iu Paris, previous to the departure of those persons who repaired to Madrid to become competitors for the new contract, as he is said to have remarked to some of those who consulted him on the subject, that all proposals of that nature were wholly useless. It is a curious fact, that one set of contractors had determined on presenting tenders for a loan to the Spanish Government at 75, provided tbat the Consti- tutional bonds ivere made receivable at 1.5 per cent. only. The rejection of this offer proves that the annuUing those securities is made a point of honour, and not of financial economy, by the Spanish Court, siuce they can scarcely hope, in the present state of the country, to con- tract for a loan so high as 60 per cent., which, ac- cording to the above plan, would be the amount to be paid them in money. It seems that the negotiations at Madrid have raised the hopes of the noted M. GUEDHARiJ and his adherents, who are now endeavouring to force what are termed the " Royal Bonds" into circulation, for which lie possesses powers to the extent of 16,000,000 of dollars, in the expectation that these must be made,receivable far be- yond their present value in any new contract that may be entered into. From these respective causes the state of Spanish finance becomes every day more desperate, and the period appears not to be far distant when the dependents of the Spanish Court, if not the Monarch himself, may be re- luced to the meagre diet to which he has (levoted himself, rather than perform an act of ublie justice.