The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-03-07
Putting a Price on Cuba.

The purchase price Of Cuba has often been
considered in the United States.
Half u century ago our Minister to
Madrid, rs the published correspondence
shows, was authorized to offer 800, 900 1000
as the extreme price for the island.
In 1850 the Senate Committee on Foreign
Relations, in a report which went very care
fully into all the sources Of income from
Cuba, calculated that we could afford to
offer S12o, O00, 900 for 1t. That Is TO say,
the report only relied on getting $3, 900
a year out Of Cuba forthwith, but thought
that this sum would be increased to
$4,000, 900 within two years. The with
drawal Of the African squadron, at
that time kept up for the suppress.
sion OF the slave trade, would save, 1t
was assumed, $500, 900. The interest on
1925, OOO, 900 at D per cent. would be &c..
100000, and would be Offset by "a, 500, 900,
thus making US annually pay ~ ,45O,OOO
for the privilege OF acquiring Cuba. That
sum, Mr.. SLIDELL's report declared, would
be overbalanced by the commercial and pc.
litical advantages Of the purchase.
Coming down ten years, to 1860, we
find that in that year, when Gen. SIcKLEs
went to Madrid as our Minister, he was in
structed to offer the good Offices OF the
United States for bringing the war then
ravaging Cuba to an end. Among the bases
OF settlement to be proposed was SPANS
acknowledgment Of the independence
OF the island, on Cuba's paying her
an indemnity which, IL Spain insisted,
our Government might guarantee. 1t ap.
pears that Gen. PRIM, then at the head of
SnnniSl aNnira and pract ipn1lv Hirtatnr
asked 10Y much Cuba would give, and it
was suggested that 1928, 900, 900 might be
arranged" 1t does not appear whether this
price was satisfactory or not, as Spain con
cluded not to withdraw from the island.
Daring the last session Of Congress Mr..
SPENCER introduced "a bill for the purchase
of Cuba at n price not over 5000, 600, 900.
This was clearly only his individual pro.
posal, based on no valuation by a commit
tee; and, in view Of the enormous dc.
struction Of property in the island
during the last two years, 1t seems
clearly excessive. 1t is true that the
$500, OOO, 900 at 3 per cent. would not
amount to as much in annual interest as the
Sl2o,OOO 900 at . per cent. proposed in
1850, but there seems no reason for an in.
crease of valuation over the 1928, O0O, 900
suggested both in 1853 and in 1875.
II is worth noting that in 1878 the sum
thus mentioned was not for outright pur.
chase, as had been proposed sixteen years
earlier, but n price for Cuba to pay on
achieving her own independence, with a
possible guarantee from us. should Spain
refuse to make the bargain without such
security. This case of 1878 is. therefore, the
only one analogous to the situation to-day.
Blu with the progress Of the wal it seems
to become less and less desirable to make
any such suggestion to Spain Of money in
dcmnity. Cuba appears To be in a fair way
to obtain her independence without buy.
ing It.. II she can free herself from
the Spanish yoke without having a pecu.
mary burden fastened on her, it will be
all the better. Perhaps even at this time
she might consent to some indemnity for
the withdrawal of Spain, but it must he
obvious that, with II successful though
costly prolongation of the war, the indem.
nifty that she would be both able and will
ing TO make would grow less.