The Dalles daily chronicle. [volume] (The Dalles, Or.) 1890-1948, 1898-10-11
THE PARIS coMMISsIoN.

Spain will hold out for in the treaty
deliberations about to begin in Paris.
Rumors from Madrid indicate that at
the outset the Spanish commissioners
will contend for continued sover-
eighty over the Philippines and for
certain conditions regarding the Gu
ban debt. tits natural that the Span
ish representative should propose
larger concessions than they expect
to get. The chief Spanish desire, and
the same purpose was manifested
throughout the war, is to introduce
European complications. No one
doubts that certain nations of Europe
would be glad to secure a footing at
the Philippines, and nothing would
be more grateful to Spanish diplo-
macy than to use this feeling to our
disadvantage. AS for the Cuban
debt, large number of European in
Vestors hope that it will not be a
total loss and that at least a partial
provision for it will he made in the
treaty. Some pressure from this
source will be exercised chiefly at
Madrid, and may have considerable
influence there. A debt also hangs
over the Philippines, and Spain will
make the most of it if compelled to
give up all or part of the group.
The Eastern possessions are evident
ly the main Spanish reliance for saw
ing something from the wreck.
A moments thought is enough to
show that further Spanish sovereignty
IN the Philippines is impossible. The
insurgents would at once take posses
sion if the United States withdrew.
Aguinaldo and his followers would be
irrepressible. They have arms and
are now experienced soldiers. Sover-
eighty for Spain would be continued
war conducted at great expense. A
strong navy for distant service would
be necessary. Taking into view the
financial condition of Spain, the only
reasonable view is that the Philip
pines would be sold to a European
power. This fact reduces the situa-
tion at the Philippines to a financial
footing of some kind, and probably
the question will speedily take this
form at Paris. France would be a
preferred bidder, and so would Ger
many. But no door is open by which
they can enter. This country is
treating with Spain alone and as
sumes throughout that the latter is a
conquered nation. We shall retain
a primary hold on the whole of the
Philippines, and upon that basis Spain
must make the best bargain it can,
dealing with us exclusively.
The Cuban debt is such an enolm-
ity that 1t can have but little stand
ing even for discussion. In 1886 the
first Cuban bonds were issued to the
extent of 100000, at per cent
interest. They were guaranteed by
lien on Cuban customs, by all the
revenues of the island, and, finally
10y the Spanish treasury. In 1890
bonds amounting to S175, 100000, al
5 per cent, with similar guarantees
were sold. Nearly the whole amount
or $290,OOO,OOO, is outstanding
These bonds are the result in part OIL
the former insurrection, though an.
tedating the last revolt by from five
to nine years. During the last strug
gle with insurgents $160,0UO,OOC
more 'sCuban bonds were disposed
of, forming total of $3.50, 100000
The third loan was made a lien OF
Spanish customs also. On January Is
last there was floating Cuban deb
of $75,00O,0OO. 1t would take near
ly $6OO,O0O,O00 to clear off the deb
Spain has piled up against Cuba. A
dispatch from Madrid says the Span
ish government will undertake tc