New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-10-27
ORIGIN OF THE CUBAN DEBT.
A PLAIN STATEMENT OF THE "BENEFlTS
FOR WHICH 1T WAS INCURRED.

PLAIN STATEMENT Dr1-Nbf 49,
FOR WHICH 1T WAS INCURRED.
To the Editor OF The Tribune.
Sir: daily newspaper OF this city has pub
lished a telegram from Paris TO the effect that
Spain would be content should the United States
or free Cuba guarantee the debts contracted
prior to 1885. together with tie per cent Cuban
bonds of 1856 and the S3i. 100000 OF per cent
Cubas OF November 1890, arguing that these
debts were largely contracted either TO meet
deficits in the colonial budgets or for local pub
lie works" ! beg The Tribune to allow me a
small space 10 state as briefly as possible the
origin Of the so-called Cuban debt The data
partly translated. partly abridged. are taken
from a remarkable pamphlet published by
Rafael VI. Merchan in Botota in the year 1896
under the title Of CUBA: Justification Of Her
War Of independence"
In 1890 the Spanish Government was ignorant
OF the amount OF the Cuban debt Senior Fable,
then Minister Of the Colonies. admitted this IN
the Senate on March 2S OF that year, and he
explained his ignorance by saying that bonds
have been issued which were not genuine, which
we're not legitimate and which have succeeded
in being converted"
In the middle OF the year 1892 Romero
Robledo then Minister of the Colonies. stated
that the Cuban debt amounted to Sl'3,262,ZOo
The population Of Cuba being 1851 .6Sl, accord
ing to the census OF 1887. this gave proportion
OF more than S106 head But besides being ex-
cesslvely burdensome the debt is in its very ORR
gin unjustifabe.
The first item goes back as far 1871. BY
an agreement signed at Madrid on February II,
1854 Spain bound herself to recognize in FAVOR
Of the United States perpetual debt OF per
cent annual interest. and being unable to carry
out her engag cement it was provided by royal
order Of April . 1871. that the Treasury Of Cuba
should in future cover said interest. which on
principal Of $40 600 amounts to S2S JoO The
debt had nothing to do with the progress or the
island It arose from damages suffered by Ameri-
can citizens during the South American wars for
independence.
Perez Cas;aheda IN a speech delivered IN the
Spanish Senate or June a. 1891 said: "The debt
Of Cuba was created in 1864 by a simple issue OF
100000 and It now amounts to the fabulous
sum Of Sl75.OO0O0O. What originated the
Cuban debt? The wars Of Santo Domingo. or
Peru and OF Mexico But not these mat
tiers which concern Spain? They certainly con-
Germ the whole Of Spain. For what reason must
Cuba pay that debit" eve must bear in mind
that it is a Spaniard who made this statement)
Perez Castaneda- however. forgot an item, to
wit. that part OF the Cuban debt which orlgi-
mated through the advances made to the Treas
ury Of Spain during the last Carlist wars
The debt has gone on increasing. although
from 1873 up 10 June 30. 1891, the sum Of Sl1I.-
;}36.304 had been paid for interest and redenlp-
tOn as stated In FL GlObO' Of Madrid. under
date Of October -. 1891. Senior Perez Casiaheda
has demonstrated that the conversion OF par |
Of the debt effected i'm 1880 or 1NJl has imposed
on the cuban Treasury. owing TO the ireputude
Of the Minister II the Colonies, Senior Fable. a
burden Of so. 232 800. In which appears the In
terest Of S2O,iO0ur, a part Of a loan nego-
tated In order 10 call in the deprecated notes
Of the Spanish Bank Of Havana and which IN
stead Of being al once applied 10 its proper pur-
pose. was granted by way OF loan 70 the BANK
of Spain. in Madrid for some months. in order
to il from grave crisis
Spain had from 1861 to 1860 incurred heavy
expenses on account Of the reincorpOratiOn or
Santo Domingo the expedition led by General
Prin 20 Mexico. and the with Chill and
Peru: and when the Yara Cuban instruction
broke out in 1865 the debts arising from the
mentioned conflicts. which had been charged 70
the Treasury Of Cuba had not yet been paid.
The several loans contracted since 1890 20
suppress the last Cuban war for independence,
involving the cost Of keeping n huge army OF
/ over two hundred thousand men are matters
too well known TO deserve mention here
In short the history OF the Cuban debt IS as
follows: All the expenses caused by the war 70
keep Sant0 Domingo under Spanish control; by
the foolish attempt 10 establish a monarchy IN
Mexico by the dream of conquering some OF the
South American republics in $50; by fighting
the Cuban instruction from 1S6S 20 1NIs; all
the expenses incurred to keep the Spanish pos
sessions in the Gulf OS Guinea. and 10 keep all
the Spanish-American consulates, are exclusive
/ IL charged TO the Cuban debt.
Could il he POSSIBLE to say in good faith ana
honestly speaking that those debts have been
contracted for the benefit OF Cuba and her peo-
pie? FRANCISCO SELLEN.
New-York. oct. q. 1895.