The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-09-17
THE .ONEY QUESTION.
1t is the AII-Absorbing Topic of the
Hour in Spain.


HAVANA, via Key West, Fla, Sep
TENDER 1.-THE money question is the
all-absorbing topic of the hour. Ever
since General Weyler issued ms famous
decree ordering the Spanish banks
paper money to be accepted at par
with gold, it was foreseen that Sc
rious complications would arise be-
cause not having the government
proper guarantee, it could not be &C
copied as circulating medium The
government is doing all in It's power
TO sustain the value of the paper,
threatening with severe penalties
those who refuse to accept ii ON tp9
same basis with gold. The Spanish
bank, with the assistance OF the gov
eminent, in order to uphold ills paper,
announced its Willingness to accept 1t
in payment of drafts on SPAN, out
when one of the local banAers-as a
test case-soHcited from the bank
draft on Spain for $4,000, the bank re-
fused on the ground that it could not
furnish bills to bankers who dldl not
admit its paper in payment OF their eX-
changes. BY repudlating its own paper
the bank has initiated crisis IN imam
clal circles which mas upset the money
market, and many believe Will end IN
a commercial panic.
Many efforts are being made to avert
disaster by inducing General Weyler 10
allow the quotation on exchange of the
paper currency that everybody should
know its exact intrinsic value, but IT
seems Weyler stands firm on his decree
and does not allow the least variation
of his orders. The. result is that ever
since then the stock and gold exchange
has not done any operations, and all
quo ations are considered nominal on
the other hand, all the bankers. in or
der to avoid the penalties of Weyler's
decree, by refusing the acceptance OF
paper in payment of drafts, have de-
cided to close their exchange depart
ments, alleging that they have no
funds abroad to check against-except
when they are offered gold in payment
then the draft is furnished. The gov
ernor of the Spanish bank called a
, meeting of all the bankers three days
ago, to see how the financial diticulfy
could be solved but no definite agree
ment was reached, and the situation
continues the same. AS natural con-
sequence Of this state of affairs, the
expectation of gold and silver is being
carried on to a great extent, all the
outgoing steamers carrying large guam
titles of the precious metal to Spain
and the United States, this being at
tributed TO the great distrust existing
among the wealthy classes regarding
future prospects.
The announcement chat the WholeSale
arrests of prominent citizens made sat
urday last was simply a governments
plot to remove what it believes to be
obnoxious persons, mas been fully con-
frmed. at least in the case of Mr.. AL
fredo Hernandez Huguet, the Amer1-
can citizen arrested. When the Do-ice
over ran his house in search OF 1ncrlml-
mating papers, his daughter saw one
of the men introducing a SUSPICIOUS
document among his papers and, SELF
ing him by the arm. strongly protested
against the infamous act he was COM
mitting but it was OF no dVall, 1Or tHey
carried the document as convincing
evidence of guilt. She went TO see Con-
sui General Lee and told him her taie'
and when the consul asked her II she
Ind the courage TO lay the facts before
General Weyler, she unhesitatingly as
sented. Ii is understood both want
TO see the general, and that he refused
to listen to her on the ground that ne
was not the judge that had to decide
the case and that she should give her
/ testimony to the judge who is investi-
eating the matter.
The military operations are practi-
cally at q stand still. No fighting Is re-
ported on either side. 1t is reported
all the rebels are making a strong con
centration of forces all around the
country, presumably obeying Gomez :
orders for the coming campa- gn, wnie n
it is said, will be tremendous. AL
sorts of wild rumors are afoat as tC
his future intentions. Some believe ne
will come with fire and sword, laying
everything waste in his track, destroy
/ ing all the sugar estates, farms, val
lagos and towns he meets on MS way,
others that he will simply come and
make a big fight in this province.