The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-02-03


This may be the honest desire Of the commit
tee, and we have no doubt it is; but from
the turn things are taking in Congress, we sus-
pect that the question whether this country de-
sires to acquire Cuba will not be decided during
the present session. The democrats are, no
doubt, willing to let the subject slip by, and go
into the next Presidential canvass and the Op-
position, with that blind faulty which has
always led them to defeat, and always will, seem
perfectly resigned to do all they can to assist
their antagonists in this purpose. If this were
not the case they would not waste their time in
building up futile arguments to be overturned
by themselves, as did Seward, and then putting
the question off to discuss other subjects, all the
while announcing that they are ready to meet it.
Until the representative voice of the nation
has spoken ON this subject, the Presi-
dent will not be in a position to take any
steps in peaceable negotiation with Spain, aud
dozen iunctures might and may occur during
the coming year, when if Mr.. Buchanan had the
means at hand, he could carry the question to
successful issue.
Among the arguments brought forward against
the opposed measure, none is 80 futile as the
one that has been most frequently resorted to-
which is that the purchase of Cuba will create
| an immense national debt. In the irst place,
hiargument cannot be logically directed against
the Thirty Millions bill, for that bill merely pro-
| poses the purchase of the island, and does not
consummate it, and thus incur the debt. 1t is,
| therefore, nothing but masked argument against
| the acquisition, and as such, we have no doubt
| Seward meant it, notwithstanding his self as
serted belief that Cuba gravitates to the cont
nent. In the second place, if the Spanish 60
yernment will not sell Cuba, as is so loudly
asserted by Spanish hidalgos and American black
| republicans the passage of the Thirty Millions
bill will not bring us into any debt at all. Then
! the mighty scheme Of public debt which Seward
so artfuly built up in his speech on the Sldell re-
port, and so cunningly knocked down by quoting
and pretending to credit the speech of Calderon
Collantes, vanishes into thin air. We have a
sbrewd suspicion that when Seward quoted
against his own fabric of debt, the words of the
hidalgo, he had pretty vivid recollection ofthe
heroics that were got off by some of his demo-
cratic conipeers during the famous "Gfty-iour
forty or fight" era. He had twitching fear
that the coon in the Spanish chestnut tree might
come down if the thirty millions were brought to
bear upon him Having some such an idea our
selves the debt question becomes worth examin-
ing. Let us sec what it amounts to. We will
take Stewards argument, for that piles on the
agony highest.
He tells us that the bill proposes to appropri-
ate 'now at this time," thirty millions out of the
treasury. 1t does no such thing. Whatever
sum the bill may place at the disposition of the
President when it is passed, it takes not one
dime out of the treasury until the acquisition Of
the island is consummated. He then assumes
that we buy the island at a cost perhaps Of five
hundred millions, which, with an exorbitant
stretch Of generosity, he is willing to cut down
one half and let us have the island for two hum
dred and fifty millions; and on this basis he
builds up his calculation of an overwhelming ma
tional debt. We are not disposed to quarrel
with Mr.. Seward about the price of Cuba
provided we get it. But we may mention
here that the highest equivalent the Anne
rican government has ever contemplated,
giving for Cuba is one hundred and thirty mil
lions. The Havana Pre,sa, journal once high
in the confidence Of Gen. Concba, recently spoke
of the island as being worth two hundred mil
lions; and in the way of trade, taking Spanish
debt in barter at its face perhaps it is; but then
we could buy the Spanish bonds, for the transac-
ton, considerably under their nominal value
So we will even look at the debt argument at
Soxtarlia two bnp 5rol nj
lions.
1t is curious fact in the study of the human
mind, that we often find men reputed to have
knowledge talents, skill in their use, and all
that, who when blinded by passion, or wish
ing to blind others, will assert as truths state
ments which practice and experience have re-
peatedly proven to be fallacies This is pre-
cisely the case with the argument against the
purchase Of territory because it win run us in
debt. 1t was used by the federalists against the
purchase ofLouisiana and Florida. Yet it was
the acquisition of those territories which gave to
the industry and trade of this Union the great
impulse that not only enabled it to pay off the
cost Of their purchase but the entire debt of the
country besides. The very same thing occurred |
with California The wings who bad opposed |
the war with Mexico, because it created q |
debt, tried hard to strike California and the |
fifteen millions paid for it, out of the |
treaty of peace. Yet it was the stimulus that |
California gave to every productive and specu-
lative interest in the country that paid Off the
whole debt of the Mexican war long before its |
payment fell due. Seward knows these facts as |
well as any other man; and yet he can get up in |
bis place in the Senate, and, ignoring them COM
pletely bring forward against the acquisition of
Cuba the old, worn out and refuted argument
that it will plunge US irretrievably into debt
We will look only at one other aspect of the
debt argument. Let us suppose that we do not