New-York tribune., 1872-09-17
rur SPANISH DILEMMA.

THE SPANISH DILEMMA.
T. is thought that the new Spanish loan,
which is expected to be put on the market IN
few months, will be for the enormous sum
Of One Hundred Million Dollars, and that its
paymept will be secured by the hypothecation
of tho Spanish revenues and by lien upon
the Island of Cuba. There is some anxiety
felt in Spain as to the impression which the
announcement of this large loan will make
upon the country, and it is probable that some
tentative steps will first be taken to draw
the fire of popular criticism and discussion.
The Government has scarcely any choice left
however. No less sum will afford any per-
manent relief. There is, as King Amadeus
announced the other day in his Throne speech,
deficit for this year which has to be met
The Home Government has assumed Obliga-
tions in the Island of Cuba which amount, 1t
is said, to the sum of thirty millions. There
will necessarily be, with the best intentions
on the part of the present Liberal Cabinet
large expenditures required for setting Oh
foot the projected reforms IN Church anu
State. advantageous and economical as they
will doubtless prove in the long run.
There are many who build on the admitted
foundation of this pressing need OF money III
! Spain, the unjustifable hope OF emancipation
of autonomy. and even of independence tor
Cuba. Even now, while the Spanish Govern
| ment is making its preparations tor loan VI
| unprecedented size, part OF when Is 10 pay
the expenses of exterminatlng the CuDahs' tho
delegates of the patriot Junta are trying 10
effect a loan in London by pledge OIL tne
revenues of the Republic. We confess we 90
not look with any sangulne feelings upon
the present prospects of the RepuDnc
in Cnba We are convinced that SPAN
can never conquer the insurgents while
they maintain their present attitude but
if Spain continues to put forth the same ell
forts in the future as in the past, ana IL the
masses in the mother country and the Penln-
sulars of Cuba continue to sustain the Gov
ernment in its policy of subjugation, there
seems no reason to hope that the Spaniards
can be Immediately dslOdged from the po-
sitions they occupy If no violent outbreak
takes place either il Madrid or Havana, it is
not impossible that the murder and rapine
which have so long devastated the greater
Antilla may continue for long time to come.
II is useless, and worse than useless, Tor any
one to form any illusions in regard to the
possibility of Spain's adopting any reasonable
or progressive policy in regard to the Islands
of Cuba and Porto Rico. Good will is not
altogether lacking, but the power to do any
thing fails utterly. The leaders of the Radical
party, now in Office, are anti-Slavery men OF
eminence and of long standing. All of them
would be glad to see Slavery entirely abolished,
and many of them would rejoice to be well
rid of the incubus of the colonies altogether.
But they do not dare TO proceed even with the
! gradual emancipation so long ago decreed, and
whenever a word is said about the possibility
of parting with the Islands, every one OF these
men feels compelled to mount his high horse,
and swear by the sword of Pelayo that he
would rather die than dream of mu-
tilating the territory of Spain. There is
such powerful public opinion upon
this subject that the politicians, who are
everywhere but in our favored land cow
ardly race, are afraid to seem to run counter
to it. So the King who would like to be nd
of Cuba, says in his speech that he will send
as many men and arms there as are needed
TO put down the rebellion. Rivero, who IS to
be President of the Cortes, and who ardenty
desires the cession Of Cuba, viii say when he
takes his chair, that whatever else may be
discussed, the cesson of Cuba is a subject for
bidden as long as Spaniards have the blood of
hidalgos in their veins. Mr.. FiguerOla, who is
to be President of the Senate, and who knows
there will never be a Budget without de-
felt until Cuba is free, viii be sure to say in
his inaugural that Heaven has no lightnings
hot enough for the caitiff who should propose
the thing that every one of them knows to be
| best for Spain.