The herald., 1898-05-25
Los ANGELES HERALD. WEDNESDAY MORNING MAY IS 1898


all the expenses Of the war.
Senior Puigceiver said that In view Of the
impossibility Of negotiating loans abroad,
there was no means Of raising funds to
continue the war except by an extension of
the bank of Spain's note issue, which. how
ever did not imply a forced paper cur
rency. He proposed, he said. to convert the
treasury's floating debt, now nearly 509.-
000, 900 pesetas. into small denomination
treasury bonds. He explained the proposed
conversion Of the external debt but avoid
ed any allusion to the proposed tax on the
national debt. Senior Puigceiver affirmed
the necessity of a 20 per cent Increase in all
taxation, including that on agriculture.
A Dismal Outlook
NEW YORK, May pa dispatch to the
Herald from Madrid says:
The situation in Spain is much more seri-
Gus than It is generally said to be. Black
clouds are gathering over the peninsula and
it will be impossible to avoid the storm which
will burst with terrible effect and sweep
away everything in its path.
Such, at least, is the impression which
have formed after stopping there nearly a
month, and after numerous conversations
with highly-placed personages belonging to-
the court, the government and Parliament
and with tradesmen, middle-class people
and the masses.
When Spaniards are spoken Of promiu-
ence is always given to the sincere patriot-
ism which supports and animates them I'M
der the existing circumstances. I do not
mean to deny the patriotism Of the Span
iards, but 1t should not be vaunted to ex-
cess, for In Madrid. for example, the fiuc-
~ 1T A.
less than the next bull fight or the drawing
of the national lottery. But the great
question which will evidently cause the
revolutionary movement of which have
spoken, is that of bread. The bread ques-
t!on has already led to sanguinary con-
fiicts In some towns.
Spain is just now passing through very
serious economic crisis. It Is the result OF
an extraordinary rise in exchange on
France. which one day reached lis per cent.
Taking advantage Of the exchange, French
ana Belgian corn factors nave bought up
all the wheat in Spain, which they at once
exported. realizing considerable profits. and
when the Cortes passed a bill forbidding
the export Of cereals the stock Of corn and
| wheat had already crossed the frontier,
| leaving Spain without food for her own peo-
u ucCcSbdfy
| flour abroad at ruinous prices to meet i'm
mediate needs. In Madrid the rise in the
price Of bread has not yet made itself felt,
| because the Mayor promised to indemnify
the bakers out Of the municipal funds, but
the credits for this purpose are not large
and when they are exhausted the Madrid
bakers will also be obliged ID raise their
prices.
| m
| in such straits that they will Inevitably Join
the numerous political and other malcon-
tents, and the result may very well be civil
war.
After this revolution, which the army will
be powerless to put down, will Don Carlos
come into power or will republic be pro-
claimed? 1t IL very difficult to prophesy
on this point.
Andausian Senator, who Is an out and out
Royalist, said to me:
1.-THE Queen Regent by losing the friend
ship of her people has lost their sympathy
Now she is on the way to lose their re-
spect.
1.-THE Queen Regent was not present at the
patriotic grand corrida, the receipts from
which were destined for the national SUBJ
|
a hostile demonstration, which certainly
would have occurred had she passed through
the streets.
,"As regards the war, the people do not en-
tirely share the opinion of the Queen Re.
gent. The loss Of Cuba and Porto Rico and
the Philippines would cause the Spanish
people to rejoice. Cuba, Porto Rico and
the Philippines were three milch cows oil
the ruined grandees Of Spain and the Span
ish were overwhelmed with taxation to
keep them up.
LET the Americans rid US Of Cuba and the
Philippines. 1t would be the greatest good
they could do us. They ought to have been
given to them without war.
"That is what have heard at least zoo
times from the mouths Of the Spanish PEG.
pie, and 1 am convinced that an immense
majority thinks this now"