The evening times., 1898-11-01
TUESDAY, NOVEMBER l, 1895.
The Bond SteaI Deal.

Several United States Senators have
been asked whether they will favor the
payment Of a forty million dollar in
demnity to Spain in return for the quiet
surrender of all title To the Philippines
TO this nation. Without d single eXcep-
tion they say no. II is only fair TO ex-
plain that the question was asked by
newspaper that is owned by man Of
foreign birth and a former associate of
Carl Schurz, and is opposed to the re-
tention Of the islands by America; and
that in selecting the Senators to be in
terViewed. only those who are in SYM
pathy with this view were favored.
with one or two exceptions. Ii should
be further explained that the PROPOSE
tion was supposed by most Of them To
mean the assumption of the Philippine
debt Of forty million dollars, which is
quite another thing than the payment
Of a sum of money into the empty
treasury of Spain. The question as pro-
pounded was: DO you favor the prop
osition 10 pay Spain forty million dol
lars for the Phlippines?'' Now, no
such suggestion has been made as far
The reports from Paris have been 10
the effect that the American Commits
sioners had made a demand for all the
islands. with the intimation that
America would assume the care of some
forty million dollars of Philippine
bonds
OF course, United States Senators who
are not in" with Senator Hanna must
decline 10 favor any such. Iascally
scheme, which is Of so little Importance
TO bankrupt nation with other in
debtedness Of nearly twenty times that
sum- but of such enormous profit TO the
Americans who hold the securities
either in fact or by option. The Sena-
tors must think with all other citizens
who are without a direct personal in
terest in the deal. What they might
have said if there had been no effort TO
shoulder this burden on the American
people, and Spain had put in poverty
plea for money assistance, can only be
guessed; but it is probable those who
want the Philippines TO pass into our
hands would not have objected 10 a
reasonable indemnity payment in cash
BY the intervention of a gang of self
seeking rascals, there is grave danger
that the American people may become
SO indignant as to be willing 70 forfeit
the precious islands.
The reports from Paris do NOT pre-
tend to give an accurate statement of
the American demand and offer They
affirm that the Commissioners for this
-sr..-
offered in return TO assume some
million dollars Of bonds. besides a cash
payment, the amount of which is not
known, but which Spain's representa-
tves assert is too small. This would
have been inevitable no matter how
great the sum offered. Ii is a principle
Of Spanish diplomacy TO stand out for
an excess. under the theory that the
larger the price that is asked the more
will be paid. There need be no
present anxiety about the theatrical
performance of the Spanish Commits
sioners. 1t is a part of the game. We
may be sure that if the Americans pro-
pose a reasonable money payment in
return for the archipelago. il will be ac-
cepted after the usual exhibition of
scorn which the Spanish idea of trade
calls for. And we may be sure, too.
that the assumption Of the Philippine
debt is not essential to Spain's consent.
1t may be safely predicted that a
treaty Of peace which includes our re-
sponsibility for that debt will not be
ratified by the Senate. Rather than this,
the country would prefer to add to any
cash payment that may be agreed
upon. the difference between the sum
Spain got for the bonds and their face
value. Anything would be better than
the success of the unpatriotic, self-seek-
ing bond sharks who are willing to i'm
peril the fruits Of our victory-bought
al the cost of so many lives. so much