The New York herald., 1873-08-05

which, with deeds like the foregoing, nave grown
INTO 50 herce hatred that nothing Will reconcI-
late
THE PRESENT.
Tnere has been very little fighting in this district
withln the past few days. very severe engage
ment has taken place at Barrancas, nine leagues
from this city, near the road from Veeuita TO Bay
amo. The spanish loss must have been very severe,
as thrty-seven wounded have been brought TO this
CITY and twenty, more severely wounded, were lett
at Veguita.
The Spaniards. as usual in cases OF defeat, are
very retcent, and prudence cOunsels your cor
respondent not to make too many inquiries, but to
les matters leak out, as they generally do In these
small towns, through the gossiping Spaniards
themselves
The Financial and Military Situations.
HAVANA, July "a, 1873
During the past week the monetary situation
OF affairs here and the state OF the Spanish Bank
has been the theme OF the LeOa,tddd republican,,
snd 80 much offended did the Bank become by
several articles published in that journal upon the
subject, that ITS President, Don Juan del Vale,
formally announced to the Legalfd0d that IL would
commence suit against it for libel. This letter
the Legoliddd publishes in large type. Since then
the "washng OF the dirty linen" Of Bank affairs in
public has been OF some benefit to the people. Your
correspondent all the facts stated in his letter
of last week on the subject corroborated by the
charges ana confessions made in this dispute.
The Legdtid1d has the sympathy OF the
public on it's side and in the contest
makes many a good hit against the Bank.
The President is rebuked for overlooking the
fact that he is but the director OF the Bank and for
thrusting his own personality into the quarrel,
when the LegaIfddd's remarks and criticisms were
directed against the institution alone. II reminds
him that suit for libel comes with bad grace
from professional lawyer, who, in order to as
sume the dictatorship Of the Bank. was obliged to
ipnnr viea icfr tim ehant xuhtch
nominal business he abandoned Immediately upon
his appointment. The Le0altdad states that no
merchant doubts but that
THE BANK Is MORALLY BANKRUPT,
and that it Is requisite to reorganize 1t to it
as an institution OF credit, and that every one is
fully convinced that by continuing the road upon
which 1t is proposed to carry on It's operations
the irremediable loss Of on institution. 80 neces-
sary because 1t is the only OF the kind, to the
commercial life Of the country, s certain The
Le0Gltddd qualities as an unheard OF and
most unjust proceeding the institution OF
libel suit for calm and Just criticisms
upon public institution, against parties who,
well furnished with data and powerful reasons,
endeavor to discuss this important subject, in
order to fix upon the remedy which public neces-
sity demands in such critical situation. In
speaking of patriotism the Legaltdod says all know
what to expect by this term, which has but SEN
tmental value and does not enter into or make any
difference In the balance sheets OF the Bank But,
according to the Banks own statement, the extra
ordinary issues OF notes would not have been
made II the bOundless patriotism Of the planters
and merchants Of Havana had not guaranteed
them by agreeing to receive its notes without dis
count Wherefore 1t ls not the Bank but Havana
which has done this service to the government
However, an organic reform of the Bank in ord er
to save the interests OF the shareholders and of the
pubic is OF absolute necessity, and not alone OF
reorganzing the Bank. but also necessary to def
WHAT THE PRESS SAYS.
The LegdlidGd says
Before mixing himself in this dispute with in the
taken as useful officer, obliged by cireamsanses to
but now he has made Known his opinions and revealed
@ aya ssn in dS se has onI n ii Se
want OF formality and all OF Intervention in
20 5s ad
ct guarnnee anu r ana security n which the q nsl
has put h,mss in sh false position and made himsef in
public with the rights OF lis shareholders and the holders
of it, paper.
The Lega1idad, in leader this morning, ends by
SAYING
Would to God that the people would have given more
to God &C M hd e Sno%eS o M
right 10 know wha, pays What for or ana how the
bad this knowledge things would have passed in a dit
THE QUESTION OF CURRENCY
Your correspondent has been reliably informed
that yesterday signs OF the trouble now brewing
here were made evident by the refusal of the troops
gold. The Captain General, at his Wits
end to meet this new and alarming
manifestation, applied to that patriotic ~
standby the Spanish Bank, Tor another
million. The Bank refused IL, and then the Captain
General called junta OF landowners and planters,
and, by appeals To their patriotism and who knows
what else and after considerable discussion, OBJ
tanned a concession Of $500, ,000
RIGHTS OF PROPERTY.
The journals here publish the telegram 70 the
New YORK HERALD from Spain Of the decree con-
corning the return of embargoed property to the
Cubans. In Spain they may issue any number OF de-
creeS with the assurance that in Cuba they will ne
considered dead letters The recent opposition to
the Constituent Cortes begging that shall
be decreed for this island so long as single lnsur.
gent remains i'll arms shows the spirit which
means tnat such reforms will be received, and
covertly the Cortes against attempting
such. The manifestation is signed by the majority
OF the volunteers
PROGRESS OF THE WAR.
We hear very little reliable news from the rebel
districts. The insurgent sympathizers Cain that
in the Central Department the campaign is very
active and that the insurgents swarm over the en-
tire district entering the military zone OF Puerto
Principe at Will, and that tney are having matters
their own way generally. 1t has been reported
that party OF about fifty insurgents made sec
ond RAID into Nuevltas THIS party is said to have
entered as far as La Plaza de! Vapor, square
surrounding the Governors residence, situated on
a hill, and that the authority presiding over the
from being captured. The same report adds that
this small band OF insurgents were satisfied with
plundering two stores and carrying Off about 5000
in gold belonging to the storekeepers othar square.
Recent advlces from Moron state that the clew to
an extensive conspiracy had been discovered,