The herald., 1898-10-25
No Result Reached

= PARIS, Oct. 24.--The American 4
= Peace Commissioners were in session =
= from 10 am until almost PM, when +
= they repaired to the joint session. They 4
; took with them a carefully prepared 4
= written answer to the proposals of +
: the Spaniards regarding Cuba.
The consideration by the commissioners of
Porto Rico and the Ladrone islands has now
been merged with the Cuban question, and
all the points involved are being carried
forward to simultaneous conclusion. When
this has been arrived at the Philippine
question will be taken up.
DISAGREEMENT POSSIBLE
Of course, there is a possibility of dis
agreement, and the Spaniards, if the Amer
can commissioners decide not to assume
any portion of the Cuban indebtedness, may
announce their unwilingness to proceed any
further with negotiations based upon the
protocol Should the Spaniards do this, it
will be because they wish to excite the pity
of their creditors and of other nations. The
cortes may then be asked to indorse their
action. In fact, Spaniards may even pre-
Ter resumption of hostilities to acquies-
:ence in the American refusal to share their
financial burden. The Americans, however,
have intimated to the Spaniards the posi-
oility that Spain may at some future period
be able to deal with an independent gov
ernment regarding the assumption of the
provincial and municipal portions of the Gu
ban debt, which is estimated to have been
sl5O,O0O,0OO before the last rebellion in
Cuba broke out and $5OO,OOO,OOO contracted
since 1895. But should independent Cuba,
as she doubtless would, refuse to assume
more than her proportion of the debt, based
on actual betterments in Cuba, and only,
even in this case, of obligations contracted
previous to 1895, Spain would be compelled
to appeal to her people and confront them
with practically seven-eighths of the debt
contracted since.
SPAIN FACING BANKRUPTCY
Spain would also be obliged to declare her
Inability to meet her obligations, and this
at present seems to the Spaniards more
bitter alternative than to accept the United
States refusal to share the Cuban debt, with
all that this means, the idea being that the
Spaniards would be able to call the atten-
tion of their creditors to their unyieldng,
though frutless, efforts in their behalf.
Finally. it is said that there are persons
high in the Spanish councils who claim to
believe that Spain would rather submit
humbly and helplessly to defamation or dis
memberment than confront continual
financial burden. One course would leave
her pride unsulled, it is claimed, and the
other is regarded as doubtful, if not I'M
possible, of adoption within the boundaries
of national solvency.
ONE MORE PROPOSTrTON
Spain, however, will not break off the
present negotiations before having proposed
that the United States share half the in
mlar debt, which, if such proposition NAV
be placed at $7OO,OOO,00O, the interest rate to
DC reduced to per cent, which Spain may
Aold, practically reduces her share Sis. .OOO.-
300, the portion proposed to be borne by the
United States or guaranteed thereby.
Such proposition would not be accented
by the United States, either directly or in
behalf of Cuba. The session of the Joint
commission began at 2 p. m. and ended at
b:35 p. m.
The adjournment of the joint commission
was until o'clock in the afternoon of
Wednesday next. Guam, in the Ladrone