The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-06-26
SPAIN AND THE BANKERS.
NO WONDER THB ROTHsoHILDS WILL
ADVANCE MORE MONEY.


me au,clrs,iver Hutnes They want as sccu.
rity Can Prpauee in Twenty Wears Three
Timcs the vaiue the Bankers Oner to Al
vapee-0ppost,ten to . Hsv Contract
Tho denial madeiby the Rothschilds Of a story
published in the Nsp Pork Herald TO the effect
that the bankers had refused to loan any moro
money to Spain was printed in yesterdays SUM-.
1t will DO interesting to here the OK
tent OF tho financial relations that have existed
between these powerful bankers and Spain, tho
nature Of the securities on which the Roths-
childs have advanced money to that nation, and
tho forms on which they are disposed to advance
further sums.
In 1870 the Government Of Spain signed n con-
tract with the London branch Of tho Rothschilds
conceding 10 that house the full financial con-
troll Of the famous quieksilv or mines Of Almaden,
Spain, the richest quioksilver mines in the
world, for . term OF thirty years ending In jan
uary, 1890. This contract was merely the ro-
newal OF an old one which, from 1885, gave to
the Rothschilds tho management Of the Al
MAIDEN mines; for aimee the famous banking
firm Of Fuggers, Augsburg. withdrew from the
management of these mines. which they had
held from the sixteenth century, the Spanish
Government, on account Of its habitual disorder
and immortality, has been incapable of carrying
on tho mines.
From 1870 to 1890. according to tho ofioial
reports Of the Spanish Ministry Of Finances,
Spain has derived from the mines CSC. 0O0. 900,
the product Of the small percentage which, ac-
oording to the terms of the contract with the
Rothschilds, has been given to the Spanish Gov
eminent from every flask Of quicksilver sold by
the Rothschilds ut tho regular prices on the
European markets.
The business is 4 very profitable one for the
Rothschilds. The Almaden mines, on the au-
thority of Mr.. Becker Of the United States Geo
logical Survey, ARE not only the greatest
quicksilver mines in the world, but have yielded
q product exceeded In value by very few mines
OF any kind" Furthermore. o remarkable fact.
which was discovered after the contract with
the Rothschilds was signed, the mines grow
richer as depth increased.
From 1,4O0,O 900 pounds of quicksilver q year
tho product has reached the figure Of 100000
pounds. and is still increasing. 1t 10 estimated
by III Economists Espaaol that in the twenty
eight years Of their last contract the Rothschilds
have made q net profit Of $780, oO. 900.
Public opinion in Spain was strongly aroused
last year against the proposed renewal Of the
contract. Tho Minister OF Finances announced
that II the contract was removed an advance Of
money from the Rothschilds for q period OF
twenty years could be obtained amounting to
$4,000, 600. This would DO at the rate Of 81.
700. OOO
The Spanish mining engineers assert that af-
ter 1900. when the present contract with the
Rothschilds expires, by making certain improve
ments in the works which they have proposed to
their Government, the mines would produce
over &c. 900. 900 Q year at least, and that 1t 10,
therefore, folly to renew the contract with tho
Rothschilds.
The latest news from Madrid says that the
renewal Of the contract 10 already agreed upon.
OF course the Rothschilds regard the mines as
security enough for their money. They are a
source of great natural riches. They cannot DO
affected by the financial distress of Spain. They
will produce quicksilver after Cuba Is lost to the
Spanish crown. and after Spain sinks to the
lowest depths Of bankruptcy.
On other securities given by Spain to raise
money for the Cuban wars the Rothschilds have
not advanced Q cent. The shareholders Of the
loan Of 1885 are not the Rothscbilds. That loan,
which amounted to $3.50, 100000, was made by
the Banco Hispano Colonial. The Banque dc
Paris ct du Pays Bias, influenced in all its trans.
actions. Il IL said, by Baron Rothschild himself,
refused last year to loan e15, 200. 900 to Spain on
the security Of the 1895 bonds. The bank only
advanced Q 5.Oo0.oo
The S40O.0 600. 900 Of the Spanish debt on Cuba
is distributed now among the clients Of the
Banco Hispano Colonial. the Banque do Paris,
in the amounts already mentioned, and the
Banco de Espaha, besides the subscribers TO the
last internal national loan Of $50. 200. 900.
The Rothschilds. of course. will now gladly
advance $34. 10000 on the security Of the
Almaden mines. That money will scarcely cover
the six months in arrears duo to tho Spanish
army in Cuba; and what then