The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1898-06-04
sPAIN'S BALANCE SHEET.
Financial Obligations of the Cuban
Autonomic Government.
From Harper's Weekly.

| From Harpers Weekly.
The financial prospect under the now
form of government is so unsatisfactory
that it can hardly fail to strange all
progress ana development, even if
peace could be assured. Under one of thu
additional clauses to the hOmc-rule
constitution of the public debt Of cuba,
including the expenses incurred for
past and future military operations. is
to be borne by Spain and Cuba in such
proportions as may be hereafter deter
mined. The debt before the revolt
broke out was $40. 100000. Cp to the
end of 1891 the military operations cost
$2i0, 0,0O0.O00. At the present time the
expenditure is between 100000 and
50 100000 monthly. The total arrears
now owing are about $4,000, 600. At the
close of 1898 the debt will he. there fore,
not less than $5S0,0OOOO0. The total SER
vice for interest and sinking fund can
| be calculated at $4,000, 900 If Spain is
content to assume Ono-half of these OBJ
legations there still remains a yearly
payment of Sl7j00O00 to be made by
Cuba. The maintenance of the rights
of the Spanish crown has to hc paid
for by the Cuban treasury, and today
this is costing, as has already been
stated, a sum equal To 100000 000 an
nually. This cost could, of course be
very greatly reduced if peace were cs-
tahlishcd ON permanent basis; but as
the prospects Of peace are more than
| doubtful at present, this sum of $780,
| OOn,OO0 annually must be allowed i'm all
calculations for the next three years
| if cuba remains a Spanish colony. The
| cost Of the administration Of the col
onial government Is estimated at some
Sl5OCo,OOG yearly, and no doubt can be
carried on for that sum if conducted on
prudent lines. To meet all this heavy
disbursement there is only q colonial
revenue Cf $2O,0O0,OOO or thcr, abouts.
Previous to the outbreak of the insur-
reCtiOn the revenue was a little less
than $25,0OO0OO; but Cuba was then cX-
porting five times as much produce as
is now the case, and some years must
necessarily elapse before the trade of
| the island RECEIVERS from it's present
! state Of chaos. To sum up the matter
! briefly, the financial condition for the
next three years under the new Cunsti-
tuition is this:
| Annual charge for service of
! debt. ACKNOWLEDGEMENTS. lIjOl 600
! Maintenance of the right of the
! Spanish crown NEUTRALITY-SUSPICIOUS.. 100, 600 600
! Cost of colonial administration. l5.0Ou Ooo
! Total annual expenditure .....$l32, 500 600
! Total annual revenue ..,....... 2OOOjuO0
Annual deficit .....,...........$l $l12. 500, OO0
At the end of thre" years the accumu-
! lated amount of these deficits will reach
! $337,5O0, ,OOO-clearly an impossible nosi-
| tlon to maintain for the colonial CN-
| Ch"qu"T.
= Spain remains with Cuba this sum
of 1887, 600 is what she Will be called
upon to pay between now and 1901 in
| order to hold her colony. OF course,
the service of the debt may be allowed
! to g into default, and the army sta
! toned in Cuba for the maintenance OF
| the rights of the Spanish crown may hC
! kept unpaid for 2 very long period: but
| if such course is taken. it only makes
| the position Of Spain more difficult in
! the end.