The times., 1898-06-03
FRIDAY. JUNE 3. 1855.

The Collapse of SPain's Finances.
The Madrid agency of The Paris house
Of Rothschild, known to fame as the
Bank of Spain, has been abe by means
OF its principal to help the Spanish
government along since war was de-
clared. always on the theory that Eu-
rope would finally interfere to save
Spain and her credit from complete ex-
tinction The Rothschilds hold a con-
siderable part of the Spanish debt. 1t
might be more accurate to say that
they represent it Their actual hold
ings were transferred to the Frenca
public several years ago when the
house began TO see that the kingdom
could not escape bankruptcy many
years at best 1t was in exactly the
same way that the London branch of
the same family fnessed the debt of
Argentina into the hands cf the Barings
and their clientele as soon as it became
apparent that the bottom Of the in
vestment was leaky and would drop
out unless the ship could be beached on
a friendly and unfortunate shore.
Events have proven too strong even
for the worlds overlord, the dynasty
OF RothschiId. The coalition against the
United States. which the Pope and the
Austrian Emperor, both financial vas
sails Of the family, We're expected to
bring about, has utterly failed. The
Philippine Islands, Cuba and Porto
Rico. representing the bulk of active
Spanish assets have practically been
seized by a relentless sheriff, to sat
isfy a Judgment issued by the high
court Of civilization and humanity So
there is a run on the Bank of Spain
which has twenty million dollars in
silver with which to redeem two hun
dred and sixty millions in outstanding
paper. 1t need not be added that the
Rothschilds do not hold themselves re-
sponsible for the notes, which are na-
tional in their character, nor that the
great financial prop of the kingdom
which has held it UP for generations
with one hand, while bleeding it with
the other, is now to be withdrawn. In
cases like this the noble motto of the
worlds most colossal pawnshop is
''Sauve qui peut!"
What may happen next does not yet
appear. but probably it viii be a com
plete collapse. The Bank of Spain has
been ordered to finance a new loan of
two hundred million dollars on what
basis Of security is not announced. but
probably contemplating possessions al
ready forecIosed and lost. CoincidentIy
We hear that Senior Castillo, Spanish
minister to France, has been instructed
to inaugurate negotiations for peace.
Once more ii is claimed that the French
government is about to interfere to
save Spain from further humiliation
and loss. That report from the con-
tinent leads ministerial organs in Eng
land TO observe that Great Britain will
see that France does not annoy the
United States
A little push and progress on our
part might in reality bring the end of
the war very near. There are indi-
cations which unples sanity suggest
that the whole course of Spanish di-
piomacy now is to secure some sort of
intervention, even friendly, and a truce
before We can place ourselves in actual
Possession of Cuba and Porto Rico.
Therefore, ii behooves President Nc
kinley to don his Khaki uniform and
make a run for the tropical regions in
question.
Uncle Sam must not be caught in de-
collete attire at the finishi