The herald., 1898-06-05
The Plain Fact:

To the Editor OF .he Los Angeles Herald
The administration is whipping through
congress a scheme for the issuance of
five hundred million thirty-year bonds,
and this is what it means: The interest on
those bonds will amount to about $780,
900 900, so that the total amount to be paid
under the scheme will be nearly thousand
million dollars.
Every cent of this enormous sum will
have to be paid in cash-presumably in
gold-and will have to be raised by taxa
ton in some form. But United States Sc
curities are exempt from taxes and these
bonds cannot be taxed at all. The only
burden the holders of them will have to
bear will be to cut off the coupons and
draw the money on them every six months.
The industry and labor of the country
alone will have to liquidate this large In
debtedness, principal and interest. This
is the kind of legislation We are getting
from Mark Hanna and his party; this is
pre-eminentiy the scheme of his admins
tration.
The war seems to be kept alive, not for
the independence of Cuba, nor for the re-
lief of the starving people there, as was
the pretense, but for the purpose of ere
ating a large bonded debt in this country
Already, and before the landing of single
soldier in Cuba, our Indebtedness has in
creased beyond all precedent. Nothing like
the reckless prodigality of the adminis-
tration has ever before been witnessed.
1t is not called for by anything that has
been done or undertaken and a bond issue
was by no means required. A way to raise
q sufficient amount of funds for all real
emergencies. without making bond slaves
of the American people, was clearly point
ed out by the committee of the
senate, but it does not suit Hanna's ad-
ministration. Bonds they are after and
bonds they will have at all hazards.
The declaration Of war was postponed
from time to time by this same administra-
tion for the avowed purpose of getting
ready to strike a decisive blow at once,
but no blow has yet been struck. Very
clearly small American army could have
planted the Stars and Stripes on some cor
ner of Cuba and kept it waving there, but
the flag Is not in Cuba yet. Even a small
Yankee force could have co-operated with
Gomez and Garcia, now in possession of
most of the island. We are actually pre-
senting the spectacle to an astonished
world of standing, with an army of 100000
troops and three or four fleets, in fear of
little Spanish squadron that is trying in
every way to evade US. No doubt the COM
mand of either Schley or Sampson is an
over-match for any Spanish fotilla; but
the bond scheme must be carried out be-
fore either the army or navy puts an end
to the war. Mr.. Hanna's bond purpose is
the first consideration. The industries of
the United States must be bound hand
and foot before the people of Cuba are set
free.
Any child knows that there are hum
dreds of places on that long island Of Cuba
where the landing of military force could
be effected without encountering formid-
able resistance; and every child knows
that transports conveying troops across
there could be safely conveyed by our
armed vessels. This could be done now
and could have been done at any time
in the last six or seven weeks but we are
coolly informed today through the Asso-
ciated Press that no such move will be
made till Cervera's s lodging fleet is caught,
and heaven only knows when that will be
holed.
But by this shallow pretense the debt