The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1896-11-14
SPANS FINANCES.

II was announced a year ago that
Spain. sadly In want OF funds, had
contriyed TO secure the help OF French
hnanclers. II not OF the French govern
ment. in the task Of continuing the war
In Cuba. and a story has been incircu-
latlon ever since that Premier canOyas
material support OF the Paris capital
lists. especially the French Rothschilds,
20 any extent that he might desire
But the ability Of Spain TO pay Its
debts. even the obligations issued as
preferences, or 20 recuperate It's re-
sources by mortgaging still unpledged
property. has never been unquestloned.
and the French cannot have passed
over that fact The Paris stock market
lis now choked with Spanish securities.
and the constantly diminishing power
OF Spain 20 impart a desirable quality
TO its funds Is also working on the sus-
picionS OF the French investor Sooner
or later the truth must come out Spain
has for more than a year been carry
Ing herself as one who Is determined
to hold out as long as he can find in
dorsers. But. like the man OF business,
the Spanish nation viii some day have
to square Itself with Its creditors or go
into bankruptcy.
one cannot but wonder at the energy
which the mother country has displayed
thus far. but the protraction OF the
conflict has meant vast increase in
the normal expense OF putting soldiers
in the field. II cost Japan Si5O,OoO, 900
TO carry on It's war with China. In
that struggle the japanese troops aud
coolies transported 20 the mainland of
Asia numbered nearly. II not quite.
10000, They were not all in the field
at the beginning Of the struggle. only
about forty per cent Of the total having
taken any part in the conflict until the
was made against Port Ar
thur The duration OF the fighting pc
riod was nine months. The strife in
Cuba must already have cost Spain in
like proportion The war has been In
process for eighteen months. Including
soldiers landed short time since. the
whole force forwarded to the island
number 100000 well-armed troops. No
estimate. even OF the most moderate
character. can fix the expense OF main |
tanning an army OF that size at a figure
which would not embarrass any Euro
pean treasury after few months.
The dry season has almost arrived in |
Cuba once more, and the military op-
,rations Of the two forces have recon-
nenced promptly, Spain is undoubted-
y hopeful OF finishing the weary strug-
gle before summer begins in May, 1t
las expended large sums on the troops |
sent out in the past. and 1t appears to
be willing to stake the last peseta OF it's |
'redit during the next six months. Ac-
'ording to the Statesman's Year Book |
'or 1896. one Madrid cabinet, at the time
II the issue of that publication, had ac-
luired over $5OOOO,0O0 for expenditure
n that direction. The sum actually |
'pent on armies is probably larger than
hat, and, in addition to the demands
or army purposes, the government has
managed to satisfy the anxious call Of
he nation for an increase in the navy. |
iet Spain's tabulated Indebtedness in
sos was N,199, 100000. while, though the
population Of the country is only be-
ween 100000 and 100000, the an
iual amount required for the service Of
he debt is almost half as large as the
interest on Great Brltain's debt of 49,
50OoO,0OO. As the revenue of Spain is
My $l5O,OOOOO the new drain on the
reasury must disturb the fiscal balance
t the nation to an extent justifying the
larm Of all those who hold Spanish
unds.