The Spanish Proceres have come to a resolution decidedly at
variance with the preject sanctioned by the Lower Houses for the recognition of the Debt. They propose to acknowledge the whole of the Debt, including the Guebhard Loan, and to make the passive portion of it active, by twelve annual instalments. This alteration is sanctioned by ToRENo, and may be considered in the light of an increased bid at an auction. The Spanish Government is bidding for a loan in the Foreign Money-market, and must become purchasers at whatever rate is demanded. It is found that the capitalists will not take the four million loan, until better terms have been promised for the payment of the old debt; so of course larger offers must be made.
In consequence of this disagreement between the two sections of the Cortes, a Committee of Conference has been appointed. The majority of the Members who represent the Procuradores- among whom are GALIANO, ARGUELLES, and FLORES ESTRADA- are said to be decidedly opposed to the recognition of the Gueb- hard Loan; so that it is probable, after all, that this stock will be thrown overboard, and a more favourable arrangement made for the Cortes Bondholders. Count TORENO has laid before the Procuradores a detailed flnancial statement, or budget. It corresponds with the abstract which we gave in the Spectator a fortnight ago. ARGUELLES has already distinguished himself by an eloquent Opposition speech. Some objections were made to his qualifica- tion; which must, however, be deemed a very honourable, as it Was voted to be a legal one. A number of the electors of Astu- tias and Oviedo pledged their property to secure him the requisite income of 1201. a year, and thus qualified him to take his seat. MARTINEZ DE LA ROSA voted against, and TORENO for his admis- sion. His friend GALIANO was more than usually eloquent and energetic in pleading his cause. On the 15th ultimo, XAVIER BURGOS---WhO, it will be recol- lected, was made Minister of the Interior by ZEA BERMUDEZ, and
was then considered a Liberal—was declared incapable of sitting in the Chamber of Proceres, until he had cleared himself of the charge of having made his fortune in the negotiation of the Gueb-
hrdLoan in 1823. At that time, BURGOS was a favourite of FER- PINAND the Seventh, and was sent to Paris to procure money. He left Madrid exceedingly poor, returned with abundance of cash, aad has since lived in an ostentatious style. The pending dis-
cussions relative to the Loan have turned the attention of the
People to the man who negotiated it. BURGOS must have been Ware of the state of public feeling ; but he braved it, by taking his seat as usual, amidst the murmurs of his brother Peers, who, l,n spite of his protestations and claims to be heard in his defence, insisted upon his leaving the Chamber.
A decree has been issued confiscating the property of the Car- lists, and suspending the pensions of those members of the Royal family who refuse to recognize the Queen.
There are, as usual, rumours of battles in the North. One engagement is said to have taken place at Abarzuza, between ZUMALAC ARREGUY and the Royalist General LORENZO, of more importance than any other recent conflict ; but it is by no means certain which army was defeated. Dissensions appear to have broken out among the troops of the insurgents. The celebrated ZAVALA, and another Carlist officer, VALDESPINAS, have been formally dismissed by Don CARLOS for acts of insubordination. It is said that numerous bodies of Carlists are traversing Cata- lonia in all directions, and furnish full employment for Captain- General LLAUDER. The impression which the last accounts con- vey, undoubtedly is, that the civil war is spreading.
