The evening times., 1898-11-02
WEDNESDAY. NOVEMBER ?, 1855
The Peace situation


II would be reasonable 70 think the
scheme of having this nation assume
the payment Of forty million dollars ct
the Philippine debt would b abaht11h-
ed but the conspiralors are not Yet
without hope They have learned ihai
the Senate viii never consent to IN
direct assumption of The bt, but M2en
the treaty is effected they expect il N..l
include provision that some part ui
any money payment mat may be n sda
10 Spain must be reserved to pay in
terest en- bonds held by American citi-
yans
The Paris end of lha combine is still
in ignorance OF the hopclessElss # ih-
original scheme and Hanna's agents are
stiu harping on the Gett Dua says
that even tha assumption ol tn d-ht
Of forty million dollars by the United
States viii not suffice to meet in views
Of the Madrid Commissioners Neither
he nor anybody else ever supposed II
would. What has the empty treasury
of Spain 10 gain by that? Simply r.
lief from the payment 81 bonds not due
for thirty-nine years and held by
Americans Spain would Ike nothin"
better than 10 rerGGiate those particu-
lar bonds The d5rstanding, effected
through iIanna's agents and an
intelligent Spanish gentleman who *
intimate with the spanish representa-
tivss was that the American C7mnlis-
s.anars should demand ali the Philip
pines and cff.r a. assume the dsbt ana
pcri.sls pay an inconsiderable sum into
lho SIan;sh treasury. that this was to
BE- I-j oted and the rejection was to be
accompanied by 4 poverty plea, an ap-
peal FOG a larger cash bonus and the
alternative OF withdrawing from the
confer ace
THIS would enable the Beace-lovilg
administration 10 enlarge the cash pay
mont witk some show Of reason. We
have beaten proud nation into the
dust: sc EaN. wresJed from her the
richest # colonial BOSS ssions, reducing
he- from an empire 10 an insignificant
place among the nations Of the earth;
she has humbled herself so far as to
appeal To this rich country TO save her
iron abjecl penuly. from revolution
and the overthrow Of the ruling dy-
last from q Tuinous state of an
arjhy Shall we drive her To despera-
tiGn, OF shall we be magnanimOus?
Shall We set a noble example Of gener-
osity to all mankind? 1t viii cost us
less 10 do that than 10 exercise the
power Of might We are keeping up the
expenses of war period, although
he war is over. if we do this thing We
can at once reduce our military to a
peace footing. On all accounts We
should pay the money and end the
business.
TIE exposure of the bondholders' in
terrst in this scheme has made il i'm
practicable The Spanish Commission
els viii carry out the program; they
viii reject the proposition, make their
plea and their threat of withdrawal
What them" ask the Hanna men.
Certainly not the assumption of the
Philippine debt. Perhaps, in lieu there
Of. a cash payment of forty million
dollars into the hands Of Spain; per-
haps - cash payment Of the differ
cnce between what Spain actually re-
ceived for the bonds and their face
value. The country is not worried
about the fate of the bonds and the
failure Of the sharks to make their eX-
pected profit. We must stand by our
demand for all the Philippines. The de-
cision Of the President was based, we
are assured, on what he learned of
popular sentiment. That remains the
same II is simply question whether
we shall pay a cash bonus, in mere
charity and as a matter of economy,
or take them anyhow and allow Spain
10 protest. That is for the Administra-
tion to determine. The people insist on
two things only-the keeping Of all the
islands and a refusal TO assume the
debt for the benefit of the unpatriotic
bond sharks.