The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-04-01
SPAIN NEEDS MONEY.
The Country Is Well Nigh
Bankrupt.
AFTER ANOTHER POPULAR LOAN.
Dropping Prices OF Spanish Securities.
The Military Situation In Cuba - A
Cuban Patriot Says Gomez Cannot lie
Crushed--The Local Government.

WASHINGTON, April IL Special. 1T Is
believed by men high in diplomatic and
official circles here that the future of Cuba
is to be studied from the financial rather
than from the military standpoint. Spain
is well nigh bankrupt as a government,
and the people who support the govern
ment are feeling the strain upon their re-
sources to such an extent that they must
have relief in some way or other. The gov
ernment finds great difficulty in securing |
enough money with which TO carry on the /
war; For some months il has been run
ming on money obtained by popular loan, !
but this is now exhausted. Another popu-
lar loan Is talked of, with doubtful chances
of success. The last loan was put out at SO
and bore per cent interest, and yet there
was great difficulty in floating it. The
shares are now quoted at 5S, showing "a
great drop in value within few months.
1t is reliably reported that the Spanish
government has been refused advances in
every capital of Europe and by every great
banking house.
I'm Financial Straits.
So great are the governments financial
difficulties that it has been forced to force
the circulation of paper money in Cupa
| literally at the point Of the bayonet-tha6
| is to say, people refusing to accept IL are
| threatened with deportation to the penal
colonies. Nevertheless merchants refuse IL.
! The poor soldiers are compelled to take IL
| for their pay, though il is worth only 40
cents on the dollar. Worse STILL the army
has not been paid for several months ana
great discomfort roigns in consequence. Az
home the government Is in sore straits
Fifty millions of interest upon the bonds
will be due July l, and the question Is.
Where is the money coming from topay 1t:
/ saw today number of Madrid papers
ptcl.t two weeks old. Notwithstanding
lh,.t nc Iress there is not as free as IL Is
with us, all those papers contain the inos'
gloomy descriptions of the situatioh' iHe
Carlists arc agitating in nearly every prov
ince of Spain, trying to overthrow ohe gov
eminent. The Can0vns ministry Is De-
lieved to.be tottering to its fall, ana tine
/, editors ask why the government does ho'
/, do something to suppress the Sarnsts
The reports from the Philippines, where
Spain has a desperate war on her hahds
are almost as gloomy as those from CUBA
. But the financial problem is the greates
one Spain has to face. There Is rear.
danger that the interest on the debt VII
be dcfaultcd; that the little credit the gov
eminent has left will go to smash an,
that this will prccipitate crisis IN whlc
revolution may rear its ugly head In
situation in Spain is almost as had as
can be.
e Looking For the End.
y The Cuban leaders in this country al
Il oyerioycd at the prospect Ihey TAKE i.'
II interest now i'm the military situation ina
ID I'm the financial news. we are WaOcI,in
G: the bourses of Europe" said senior Qu
A. soda TO me today. "In the dropping pric
- of Spanish securities in all the ihon'
i; marts of the world we see hope for III
" Cuba. The end will come pretty 500
- Spoin is near the end of her string, rs "
~ Americans say. She cannot hold OUT ihu'
ed LONGER. Her financial difficulties VIII o''
nd whelm her. The war in Cupa, as iea
from official reports which have receN'
", from Madrid, is costing the goverhihO
sh about Sl2 100000 month me wa, =
sh the Philippines is costing about si,ooV, 80 y
= n month. This makes total Oh slooo
&C. 600 a month that impoverisheu anu !"
,at nigh bankrupt nation is expehoine III
Iel effort to hold her two remaining linporto
N: colonial possessions-in an efort 10 uesel
To human liberty. she Is now ueoi,ns w
g. two rebellions In short time her or
~, LII Give her more trouble than
armed enemies. .. rou
an Ia a very serious situation FOR
GOA oorita,ists who have money invested
We Snanish securities, continued senior y
IAN sada "But they are evidently not VIII
ad: 60 throw good money after bad III I'll
ad were any assurance that Spain could CT
W. tbo rebellion in Cuba these creditors Wo
IVY no willing to put their money In TO ca
10; on tbe war. But they do not see any
u.s. nrosnect. The Spaniards have boastea
, -; r. thew are forced to give up CUBA they
ON ,oove the island desert waste WIZ,
out one stone resting upon another, un'h'
Fort itable for man and not worth haVing'
Glands to reason SPANS creditors 40
w;sb 10 assist her in doing this, ior u
Il. mart Of the national debt Is secured up'
ON pIedoe of the Cuban revenues Inc sec
Y, 70 holders must look to the CUBA o'
!, future for their payment.
ers, "In my opinion" continued senior
ooW soda "the Cuban problem VIII COM
re. this Spain will go bankrupt, ana tnen
4 OK creditors will insist upon some sort Oh 81
ars: mont The creditors are particularly j.
iull. eeted in Cuba, as / have pointed OUT
Int Cubo saved as an industrial ana
81. nue producing country. There Is ON!
ing. xvav in which it can be saved, ana ID
l%c. bv giving it independence. WIN
lady nsndence Cuba will quickly recuperat
riley ,SiII again become the richest land Il
'ann- world in agricultural productions. W WI
c. or NOT the Cubans will be found Will
takc over all or part of the debt '
81. Snoin has incurred in her name, q
a a%G know. That is question for the III
10 But without any doubt the tune Is
t,cb- COMING when the creditors OF SPAR
bid. seel, some such arrangement, WIFI
limited States as guarantor.
Military and Civil situation
81. "vbat is the military situation in
nowf' Ill v,sb Y
ho,ding our own, and that is all we c
fuel do II is enough Time and Spanish
mur- runtcy will do the rest. The royai
lived cannot beat our in.n, 'n,y ,o a,
Ter is Gomez, they cannot force him 10 ne
/, en- he is ready and the advantages are
was side. Spain is at deadlock in CUBA
q her can do nothing She has her grea. a
lisap- pensive army her navy, her elaopr
ganization, but there are no result,
ia oil tho eastern half Of the isianu