The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-10-23
THE CUBAN DEBT.


The dispatches relating to the peace con
Terence IN Paris Indicate that the Cuban
debt is a veritable bone of contention and
may yet prove an obstacle to ON under
standing between the two countries rep
resented II the peace protocol had de-
clared, as 1t should have been made to do,
that neither the United States nor the peo-
pie OF any OF the islands surrendered by
Spain we're TO assume amy of Spains public
debt. all this hlgglLng would have been
avoided.
1t becomes interesting to inquire under
Tho circumstances as to the amount and
character OF this debt which Spain is so
anxious and seemingly so determined to
saddle on Cubs. or this Nation.
We are Informed by a competent Eastern
authority that there are uwo outstanding
Issues OF Cuban bonsls--one for SEA. 800, -
900, or 1921 900 900, with per cent interest,
issued in 1856, and the other for C So. 000, :
| 900. or $l75 QO0. 900. issued In 1890 and bear
| ing per cent interest. OF the latter C rs, =
| 900 were reserved to retire the per
! cent bonds. while tho remainder were sold
Mt %. The skies issued in 1885 were sold
FOR 81, In each case the bonds are for 500
each. or 500 p.setas and they mature in
fifty years from date
The amounts outstanding arc G24 500,
600 Of the slxcs, aud e25.30O.O0 of The
fivea, or SEQ, 1000 ($3OO. 500 00O) alto
gethor, on which the annual interest is
G3,353,0Oo (si61G5, OOo). The interest /.
payable In London Havana. Madrid. Bar
celona and Paris. The loans are secured
by all Of the revenues OF the Island of Cuba
and are guaranteed by Spain
There was prior issue OF Cuban bond
in 1880 to pay OFF tho loan advanced b,
the Banco Hispano Colonial to fund tn,
Cuban floating debt, and to exchange 70
these bonds the per cent Obligations o
1878 There were els 900 of thes
bonds OF 1880 AMI they wero reaeemab
In twenty years. Most of them were con
verified into the bonds of 1856 and thos
not converted were paid off
NJ ia claimed that OF these bonds th
per cents OF 1886 were floassd entirely 70
Cuban purposes and III liz this debt that
Is intimatod the United States may ASSUME
or fastcn upon Cuba. Amounting to abou
90 this debt would make a yer
handsome addition to our war expense ac
count, or weight tho Cubans down sufti
clGntly In their lmpovelshment and III
early days Of their independence to kee
them going slowly enough to suit thel
worst enemies.
Certainly the American people. with
out any sovereignty or ownership In Cub
ought not to have to pay sl25 900 0O0
: bonds issued even for accomplished In
provcments In tfat island. The auoatIo
:, then ia whethcr we have any right 10 ayrt
for the Cubans, who are not representc
at tho peace conference. that they will a
sumo this great burden, And IL it justi,
:, to charge Cubans with this sum when (,
years tho Spaninrds have been reneivr
and approprlalulng tho taxes OF the islai
which otherwise might have heen used .
sinking fund TO llQudate this inde0te,
ness? Would the Cubaps ever have A.
sumed these bonds Il thoy had won the
~ independence without our alde
It Our representatives in Paris are hard
u doing their duty either 30 their own coul
. try or to Cuba so long rs they are in al
- why entertaining the Spanish proposition
- with reference TO tho Cuban debt. "
best authorities toll MS that not four
OF tho money from these bonds was ev,
!" spent in cubal let MS hope that u
II Americans at Paris viii brlag this rldicu
p Gus wrangle over tho Cuban debt TO
speedy conclusionr is burning dayligl
&c and costing us big money
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