The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1898-04-04


90 the whole structure OF commercial
credit would DO sale. Whatever other
dangers or losses we might have to lace.
We should be safe at the point where our
internal system oil finance 10 most depend
sut. This fact would greatly contribute
towards averting the interruption Of In
dustry which ordinarily sets In with the
occurrence OF foreign hostilities, and
therefore should tend to prevent any APP
prehension OF really serious business dis
turbance. Moreover. war, notwith'
standing it's destructivenees. 10 attended
with IT'S own sources OF demand, which
are by no means uncomfortable. The ell
fects OF that demand Immediately appear
in uuickened markets, while the effects oil
the destruction do not show until
much later period. The first ELECTS oil
the war OF 1906 were apparent in a
great imitation OF prices and an abnormal
activity OF trade; the reactionary de-
rangements were delayed until the panic
OF 1878, At the beginning OF that strug-
gle, we had only $50, 900. 900 OF gold in
the country; today, we have $15O.OOO,
900. War always becomes a serious
question OF gold resource; and this differ
ence between now and then is an advant-
age OF the utmost value; the more 80 az
the threatened war would be OF far infer.
Tor magnitude TO that OF 80 years ago.
still, although we might safely count up
on these ameliorations OF war when it
had fairly got under way, it's immediate
effect would be a sharp shock to all the
markets; but, as that result had already
been anticipated, it's seyerer features
would soon disappear. and speculation
would become a conspicuous feature OF
business at large, but especially in stocks.
At the moment, il Is impossible to fore
see what may be the outcome OF the
present highly critical situation. 1t lie
perhaps safe to say that the average ex-
pectation OF the country inclines more to
war than peace; and yet pacific settle
nent is by no means impossible. Appar-
emily there is no doubt that the presi-
dent, as much as congress, is resolved to
accept no settlement which does not pro-
vide for the independence OF Cuba. That
extent OF concession is 80 fatty opposed
to the pride OF Spain and to the dynastic
responsibilities of the queen regent, and
would involv. such political risks to the
present government, that it's immediate
acceptance must be viewed as next to i'm
possible. The proposal, however. would
afford basis for further negotiation,
and it would remain to be seen what
compensations for the sacrifice could be
offered by the United States. II we are
prepared to offer or guarantee any finan-
cial engagements, which, whilst ayerting
war, would recuperate the finances and
credit OF SPAN, there can be little doubt
that the European power will apply q
pressure in favor of our terms that
would leave Spain her choice between ac-
cepting our proposals and sacrificing all
sympathy or help from other countries.
Spain appears to have already summar-
lily rejected the presidents proposals for
Cuban independence, and thus we are in
the first phase OF a most difficult and
sensitive negotiation. which is sure to
Immediately bring international infiu
ences into play. The dangerous aspects
OF the situation will daily become mo e
impressive to the public eye and the pop
ular excitement must increase. The
most serious danger OF the moment how.
ever. is from the impatient members Of
Congress, who seem to prefer a warlike
method for freeing Cuba. These negotia'
tions must be allowed time and patience
il they are to succeed, aud the president
must be absolutely trusted and exempt
from political meddling II he is to baye q
| fair chance for his plans. For Spain to
cell Cuba for $100,000,000 would not
appear to be a sacrifice, considering
| what various sections OF this country
we're obtained at. In 1920 wepurchasei
Florida from Spain for SIS, 00O,O il
1904 we purchased Louisiana from
France, when Napoleon l. was Emperor
and at the time of his great prestige o
power, for SIS, 900, 900; Texas was &C
CURED from Mexico in 1885. The inhab
itants rebelled under Sam Houston ant
secured their independence, 1t came int
the Union as state about 1916
Through the war with Mexico we 80
California. but we had to whip them u
get 1t. Our most recent purchase wa
Alaska, from Russia, for which we pal
100000.
President Mckinley is not only til
chief executive of the rs, 600, 900 populs
ton OF the United States, but is con
mander in chief oi,the army and navy {
the nation. He IL vested with moi
power than any monarch in the worlt
aud when at this trying period the d.
cision OF war or peace is in his hands,
has the confidence OF the people that !