NEWS OF THE WEEK.
THE attention of Europe is turned to the proceedings in the Spanish Cortes. It is gratifying to the friends of good govern- ment to find, that hitherto the conduct of that body has been marked by sound judgment and temper. The address of the Procuradores or Commons, in reply to the opening speech of the Queen Regent, indicates a deep sense on their part of the arduous duties they have to perform, and the determination to perform them thoroughly. It is a very different document from the un- meaning cento of phrases with which it is the fashion of our Re- presentatives to address their Sovereign. The following passages are specimens of the manly and becoming tone in which the ad- dress is drawn up. "The device of the Chamber is reason and frankness; and it will never be found wanting in the one or the other. It knows that personal security is the first interest and the first right of civilized man ; and that Governments cannot omit to insure it, without being guilty of a monstrous violation of the funda- mental and conservatory principles of society itself. States proceed towards perfection only by the road of justice, and justice requires that the person of every member of society should be respected.' Wherever there are laws, and Ministers to carry them into execution, the citizen has only to respect and obey
them
" The picture that the interior condition of the country presents (your Majesty tells us), is far from being so flattering as your patriotism would desire. It is very certain, Madam, that this picture is not flattering,—it is very gloomy. Many years of a badly-arranged system, of an; arbitrary administration, and of an obstinate reaction against those principles which are admitted as axioms in every well organized society, have drawn us on, by a descending progression, to a remarkable state of depression and misery. Your Majesty is called Ito the glorious destiny of reanimating this decaying country, and of associating to your name the high glory of having brought to a termination an enterprise equally
desirable and difficult "All social rights ought to be equally protected ; and without that exact concurrence, the object of association would be frustrated. The liberty of the press, that sentinel and advanced post of all other guarantees, ought to ob- tain among us all the extension that may be compatible with morality, and with a well.defended political system ; and without incurring the risk of under- mining or offending established customs, nor the bases or principles of society, it ought to afford the most ready extension of the knowledge and of the truths that are useful to the Government and the nation
" Your Majesty has told us that we shall always find you disposed to what- ever may redound to the benefit and happiness of Spain ; and, on our part, we give ourselves up, full of joy and gratitude, to the most agreeable presentiments. Our duty is to point out the wants of the nation, of whose confidence and rights we are the depositaries; and the happy disposition of your Majesty to listen to, and to remedy them, is the happiest augury of success. The interests of states may very often be equivocal: and under the appearance of a false glory, its de- gradation and its misery are often to be found."
Since the discussion on the address was concluded, the principal subject of interest has been the Government plan for the settle- ment of the National Debt, as brought forward by the Finance Minister, Count TORENO. The outlines of this project are briefly as follows. All the debt contracted by the nation is to be recognized ; and, with the exception of some loans guaranteed by treaties with France and England, is to be divided into two equal amounts. One half is to bear interest soon (the exact time is not determined), at the rate of five per cent.; and is called Active Debt; the other half is called Passive or Deferred Debt, and will not bear interest, until such time as, by the operation of a small sinking fund of a half per cent. and other measures the Active Debt has been reduced ; then, portions of the Passive Debt are to be transferred into theActive column,and to bear interest at five per cent. The whole of the unpaid interest on the Cortes Bonds, amounting Up to May last to 521. 10s. on each bond of 1001., is to be considered as Passive Debt; an arrangement which the Bondholders in this country protest against, inasmuch as there is no reason why in- terest due should be treated differently from principal due. The French holders of Spanish Stock are extremely indignant at the Payment of interest being restricted to only half the debt ; as, according to their very sanguine calculation, a sale of Church property would produce a sum equal to the discharge of all the debt, and leave a large surplus in the hands of Government. Those holders of Cortes Bonds who, a few years ago, consented to take Three per Cent. Stock from FERDINAND in discharge of their claims, and thus obtained a small amount of interest, are in a most unfortunate predicament, as their little modicum of Stock is to be divided into Active and Passive Debt, like all the rest. Theirs will be Three per Cents. Reduced, with a vengeance. But there appears some reason to doubt whether TORENO'S plan will be sanctioned by the Cortes. It has been referred to a Committee of Finance; who have met frequently, but done nothing, in conse- quence of the Minister's delay in furnishing the necessary docu- ments for their consideration. He is probably waiting to hear from London and Paris, what kind of reception is given to his pro- position. A state paper, strongly urging the exclusion of Don CAarms and his family frotn the Spanish throne, and recapitulating the law as it affects this subject, has been presented to the Cortes by GARELLY, Minister of Justice ; and a long statement on the foreign relations of the country has been communicated by MARTINEZ DE LA ROSA. Both appear to have given general satisfaction. The Quadripartite Treaty, the recognition of the Queen by England, France, Portugal, Denmark, Sweden, the United States and the Empire of Morocco! with the assumed. good-will of the Russian and German Despots, are prominent topics of the statement of DE LA ROSA. Friendly com- munications have also been opened with the Pope and the King of Naples, and are likely to lead to the formal recognition of the Queen by those potentates. The paper contains a complete resume of the proceedings of the Foreign Office since MARTINEZ DE LA ROSA was placed at its head : it resembles the message of the President of the United States more than any other state paper we recollect to have seen ; and is in many respects such a one as the House of Commons ought to require from Lord PAL- MERSTON, or whatscever statesman more worthily fills his place, at the commencement of every session.
The intelligence from the interior of Spain is not satisfactory. A Carlist conspiracy has been discovered, it is said, at Valentia, involving some persons of rank and influence; and throughout Old Castile there is much turbulent discontent. The massacre of the friars, in the late riots at Madrid, has created a bad impression in those parts of the country where the influence of the clergy is strongest.
Very contradictory accounts are given of the progress of the war in the Northern provinces; but there is no certain intelligence as to any one event of importance. It is said that Don CARLos, with ZUMALACARREGUY, is moving on Burgos with a considerable force, while RODIL is cooped up among the mountains: this is the story of the Carlists. The fact appears to be, that the insurgents give way whenever they come in contact with the Royal forces, but soon reappear from among the defiles and passes of the moun- tains, as strong as ever. There is a rumour, not authenticated however, that Don CARLOS actually is, and for some time has been, resident in Paris. This report has thrown the Police into a prodigious bustle; for certainly it is news to GisQuEr and his emissaries.
