Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1898-10-30
Special to the Register.

THEM.
Special to the Register.
Washington, D. c., October 29.-The
sensation of the day in the peace nego-
tiations is the development that the
administration contemplates the ac-
QUESTION of the entire Philippine group
and the payment of an indemnity OF
forty million dollars therefor, this sum
representing the Philippine debt owed
by Spain. In view of the fact that
there has been considerable specula-
ton in these bonds in the expectation
that their payment would be assumed
by the United States, 1t is evident that
in the administration policy respecting
the Philippines there are the elements
of big stock jobbing scandal beside
which Algerism will pale into inssgnifi-
cance
1t is now a pertinent inquiry, who
holds these bonds? 1t is also legiti-
mate inquiry why, if we are to hold
the Philippines as the fruits of war,
we should pay forty millions in cash
as the price of our conquest.
These questions will be awkward
ones for the administration to answer.
Paris, October 29-While the Spanish
and American peace commissioners now
stand upon the threshold of the Philip
pine question, it seems probable, in the
light Of this hour, that the United
States will take over the eLtire archi-
pelago.
This view is the focus point of the
best unofficial opinion, of the trend Of
events, and of the development of i'm
pulse.
During the four days just past those
in touch with, though possibly not in
the confidence CT the commissioners,
have felt the concentration of tenden-
cies toward the Standpoint indicated
as likely to be occupied by the United
States at Mondays session Of the two
commissions.
In 1897, Spain issued by royal decree,
bonds in the sum OF $40, 900, Geo to
which were pledged the revenues of
the Philippines and to which the Span
ish national guarantee was added
From these $40,00O,0G0 of obligations
Spain realized 100000 in cash. These
forty millions represent the Philippine
debt, which is entirely outside of the
500, c00,0C0 of the so-caled Philippine
and Spanish general debt.
The conditions also differ, the Philip
pine deot having been created by royal
decree because the archipelago was not
a parliamentary colony, while the So
called Cuban debt was created by law.
The difference raises the questinon of
the non-responsibility Of the Philip
pines when removed from the sover-
eighty under which its resources were
pledged
Should the United States absorb the
Philippines, none but officials yet
know whether they would assume a
part or all of this debt, or more than
the Philippine debt. The Americans
have declined to assume any of the Gu
ban debt because Cuba is not theirs,
but in deposing Spain in the Philip
pines the Americans acquire the terri
tory, and it is believed there will be
some financial assumption by the Uni
ted States At this point rises the
question of how much financial relief
might compose Spain to her loss of
the Philippines. Some well informed
persons believe that Premier Sagasta
has determined to be rid of the Phil
ippines and would direct his commits
sion to sign treaty with the United
States should take the islands and as
sumo the $4,000, 900 of debt.
The American commissioners to-day
received from Washington full advices
in response to the submission of their
individual views regarding the Philip
pine question, and two sessions wers
held to consider these replies.