The record-union., 1898-03-09
Would be in a Sad Plight in Case
War Breaks Out.
All Utter Enpcssihiify to Secure Funds 10
Carr OF H0siIllties.
All the Financial Centers OF EU-
rope Have Rejected Her Over
lures for a Loan-Ihe Wnoie
Madrid Press Comment Gloom
lily on the Situation.

NEW YORK, March "a cablegram
just received from Minister Woodtord
and laiG before the Cabinet by the
President. says the World s" WASH
ington correspondent, declares that
Spain has exhausted every means OF
raising money for the prosecution OF
a war without success. All the imam
cial centers OF Europe have rejected
her overtures General WoodfOrd pro-
nounces it an utter impossibiity toI
Spain to secure funds with which to
engage in ho6tilities against the United
States
In reference to the political condition
which impelled the Ministry to Suggest
the recall Of General Lee, Minister
Woodford says that Sagasta was
friendly to the United States, and would
make every possible concession to pre-
serve peace. The future danger, said
General Woodford, lies with the people.
With a hostile majority now in the
Cortes. and the probability that this
Will be continued at the forthcoming
elections, the overthrow of the Sagas
Ia Ministry is not unlikely. The sue
ceeding Ministry would be pledged to
war in order to avoid revolution.
If the Sagasta Ministry retains pow
er, General Woodford believes that
Spain would endure humiliation rather
than declare war against the United
States
\ dispatch to the World" from Ma
drid says.
The whole Madrid press comments
gloomily on the Spanish financiers
scare. Many. including the friends of
the Cabinet attribute less to unfayor-
able rumors as to the relations of Spain
with the United States than to the ef-
forts of native and foreign spectators.
who are ever on the alert TO take adj
vantage of any circumstances 20 de-
press Spanish securities
The tone of most Of the papers is.
however, pessimistic, as even SO Min
isterial an organ as 'EI Liberal cor
ciudes a long article on the situation
as follows: Undoubtedly our relations
with the United States have been ad
justed for the time being to the strict
dictates OF prudence, but does the Gov
ernment really believe that this nation
viii be able, without suffering irrep
arabic damage to bear for even a few
months more this anxious indecision,
this enervating uncertainty?"
General Blanco, who was consulted
by the Government. has telegraphed
that the conduct Of Consul General Lee
has been steadily irreproachable.
FRENCH AIDING SPAIN.
LONDON, March 9.-The New York
'World" correspondent saw in the
House of Commons lobby the head of
one of the largest and best known ship
building firms on the Clyde. who said:
Il know positively that Spain is hunt
ing not only for cruisers. but for fast
steamships which are to be converted
into unarmored cruisers and 10 be
fitted with quick firing guns. She has
been on the lookout for vessels for sew
eral weeks. but the difficulty. of course.
is lack Of money. No British ship
builder would permit her to remove any
craft without prepayment in full.
Il have also just heard that her con-
templated purchases, which have been
hanging fire for financial reasons, are
about being completed, as the Spanish
Government has made arrangements
for q loan through Fouid's Bank of
Paris with a French syndicate. Sen
timent as well as self-interest prompts
France to assist Spain against the
United States, and France IS the only
European country where Spain stands
the slightest chance Of obtaining finan-
cial help
The member of Parliament who made
this statement asked that his name
should not be given, his firm having
dealing with the Spanish Government
He added: II consider that the Unit
ed States will find Spain a hard nut
TO crack. l have had large experience
with Spanish sailors, and regard them
as first-rate seamen. Then are hardy.
courageous and extremely clever navi-
gators. but they are badly differed.
This country is destitute of resources.
while the resources of the UniteI
States are practically limitless Your
country is bound to win in the long
run. but il Will be no rose water al
fair for your navy"