The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-13
sAGAsTA DISAPPOINTED
He Hoped the Republicans Would
Lose the United States Congress-.

Lose the United States Congress.
NEW YORK, Nov. IA dispatch TO the
Tribune from Madrid says: 1.-THE result of
the United States elections came as sur
prise and disappointment to Sagasta. who
had confidently expected that the Repub-
licans would at least have lost control of
the House of Representatives The Spanish
Cabinet is convinced that the elections.
upon which it has been counting to obtain
better terms at Paris, have resulted in
nothing that can aid Spanish diplomacy.
The intended visit Of Emperor William, in
honor Of which Admiral Camaras SQUAD
ron Is under orders to proceed to Carta-
gena, now furnishes another straw to
clutch at. The Queen Regent, whose health
Is visibly impaired by the strain of the last
eight months, thinks the wisest course 10
be for the Cabinet to instruct the Spanish
peace commissioners frankly to concede the
American demand of the Philippines and
to work honestly and expeditiously to
frame treaty. Not so, however, Sagasta,
who is still sparring for time and hopes TO
succeed in one more gigantic bluff. He now
says that the Cabinet requires the author-
cation of the Cortes before it can consent
to abandon the Philippines and he is re-
ported to have informed the Spanish COM
missioners that they have no mandate to
discuss such an eventuality
THE marked sympathy for Spain ex-
pressed almost unanimously by the German
newspapers. coupled with the purchase, at
Berlin and Frankfort, of Spanish exterior
and Cuban bonds, the German holdings of
which have been quadrupled during the last
three months gives an exaggerated sig
nificance to the intended visit of the Ger
man Emperor and Empress 1t is not yet
known what the Emperor's plans will be
on his arrival at Cartagena, on Nov. 49,
but as soon the Hohenzollern reaches
that naval station the imperial pair will
be invited by an autograph letter from the
Queen Regent to visit Madrid.
Lord Salisbury's reference to the Ameri-
can Republic as factor in Asiatic and,
possibly, European diplomacy which might
not conduce to the interests of peace, is
widely commented upon here as strength
ening the prevailing impression that Ger
mans wish to intervene in the Philippines.
All but the extreme Weylerites dread the
| consequences of a resumption Of hostili-
ties by the United States, which, they are
aware, would probably involve the loss of
| the Canaries. and this, in spite of the
| present German lining to the cloud re-
/ mains the irresistible motive that must
| eventually determine the Cabinet to recon-
| slider the instructions that it is now be-
! lieved to have sent to the Spanish peace
| commissioners
1.-The Ministry of Finance has in hand a
! project for the conversion of the Spanish
| exterior bonds and the funded debts of
| Cuba and the Philippines, the idea being TO
maintain the treasury guarantees of Phil
ippine bonds and Cuban bonds of the and
per cent denominations, but to reduce the
interest to S45 and per cent, respectively.
This partially accounts for the firmness of
Cuban bonds in Paris and Berlin, where
speculation in them is unusually active"