The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-01-29
LOOTED BY THE SPANIARDS
WHY PUERTO RIco's TREASURY
Is EMPTY.
Spanish Officials Carried the Trust
Funds to Spain-How General Ma
cias Took Snap Judgment.

Correspondence of the Associated Press.)
San Juan de Puerto Rico, Jan. 90
The secretary of the Puerto Rican
treasury estimates that the Spanish au-
thorities made away with 100000 and
100000 pesos of trust funds that were
deposited in the treasury here. These
funds consisted of deposits made by
foreign life and fire insurance compan-
les, by public contractors and officers,
litigants and judicial officers and
others. The amount continues TO swell.
Senior Coll Toste, the present sec
rotary of finance, appointed by General
Brooke on Nov. 16, makes the following
statement: when L took charge of
the Puerto Rico treasury, l found that
deposits and bonds consigned in specie
in the time of the Spanish domination
had not been delivered over to me. OF
this fund all that l received was IS
centavos in bronze coins and one Vene-
zuelan gold piece, worth 3'pesos and so
centavos.
THE Spanish system of accounting
allowed such moneys to be mingled
with other funds and applied to the
payment OF government expenses, but
the penal code punished him who
should dispose of such deposits. L at
once instituted proceedings to investi-
gate the matter. Formerly the treas
ury of Puerto Rico was independent
of the Spanish treasury, but General
Macias, upon taking his departure
from here, carried with him to Madrid
| 81, 900 pesos, and General Nallarino
took $4,000 pesos from these funds,
claiming them, improperly, by an over
plus to Spain. This money belonged to
the Puerto Rican treasury.
THE war and navy department OF
Spain in Puerto Rico drew without re-
serve upon the local treasury. That
money should return to Puerto Rico, as
we'll as the money which the island
advanced to the treasury of Spain for
the expense of the Cuban war in order
that all arrears might be hquidated."
General Macias was ingenious and
the officials here appeared to have
complacently regarded this spoliatlon
of the local treasury, until the fore gn
insurance companies and other deposit
ors began to deluge the local treasury
with their demands. The foreign COM
panies have made their demands the
subject of negotiations with Spain and
Washington.
BY the records Of the treasury de-
partment it appears that on Oct. y,
1888. General Macias ordered the sec
rotary of finance to publish notice in
the Official Gazette, notifying all par
ties having claims against the treasury
to present the same by oct. Il, thus
giving five days for the disposition of
this most important matter. OF course
the foreign companies had no knowl-
edge of such proceedings. After the
expiration of the live days, which was
the last day of the Spanish rule in the
islands, General Macias took snap
judgment and held that, as no claim
ants had appeared, the deposits be
longed to his sovereign. He carried the
money to Spain to present 10 his gen.
eral master as an evidence of the econ
omy and thrift of his administration in
Puerto Rico.
While the American companies are
looking after their interests through
diplomatic channels. the private peo-
pie whose funds are gone are thrown
into CONSERVATION at the prospect of
their losses.
'sWin America pay these peopIe?" is
the question asked by those in author
ity.