Bryan morning eagle. [volume] (Bryan, Tex.) 1898-1909, 1899-04-08
GREATEST DRAWBACK
TO CUBA'S PROGRESS.
Loans on Sugar Plantations Are Over.
due and What 10 u, With Them
i Puzzle.

Washington. April :. - Creditors and
debtors In Cuba are both appealing 70
the Washington authorities for relief,
The creditors are afraid that Governor
General Brooks will issue an order carry.
ing out the plan Of the Sugar Planter
association. This provides in substance
for an extension Of credits through a
period Of six or seven years II Is adj.
mitted on all hands that the land own
ers In Cuba cannot pay their debts now,
and II foreclosure Of mortgages were
permitted II would bankrupt the efforts
Of the planters and many small prop
erty owners
Weyler issued decree extending tae I
time in which debts on city and county
PROPERTY should be collected Blanco
extended the decree for another year
General Brooke has extended Il a- o
temporary measure until May I. pend.
ing permanent plan That j. wha;
alarms the spandiards who have money
loaned on plantations and other prop
erty They fear that the new deere.
will bankrupt them The argumsl
that they have forwarded 10 Washing
toh are that the propositions Of ,he
Sugar Planters association amount 20 a
conhscation Of their creditors money.
They aryue against a sweeping decree
Of any kind 10y she military authorities
ON the ground that Is revolution in the
Spanish cole Of civil law. and that ii
completely npsets the law Of hypothera.
ton for the benefit Of class The
Spanish laws are. a. a rule leniont TO
debtors Much difference Il opinion e-.
lists among the officials in Cuba regard
ing the provision which should BE-
adopted
Senor Desvernina. General Broo
secretary Of the treasury is expecia 90
Washington soon 10 confer with thc
president and other officials Of tine al
mini,iration lie Is lawyer and lsre-
cially familiar with the law Of mort.
cages Il i admitted that something
will have 70 b. done for the sugar plant
ers. but whether the existing laws viii
h. modified 70 the extent which they ask
Is doubtful
They complain that mere extension
Of the time In which the mortgages car
be collected. though It may be- for q fnl
! year, will b. Of no real benefit 10 them
} In order 10 reconstruc. the sug's indus
= try they must know where they stand
Their Representatives say that u III
plan which the sugar planters have pro
posed is adopted they will be able 20 se
, cure loans for next year and in the fal
/. begin planting cane on many o. the plan
I. tations which haye not been worked 70
the last four yea,s
(, This season little cane has bee
I, planted. because the planters could M
. get the means II il therefore probahl
that next y,ar'ssugar crop will not N;
terially exceed the present one.
II the planters can secure a defui'
r status hey are all confident that the
,. can get the means 10 plant next fall.an
B. that will mean within Is or 10 monil
II thereafter something like a normal suga
+ crop b. Cuba But they want five or Z
]. years In which 70 pay their existin
e debts
It The interest charges on most Of n
p sugar plantation loans are heavy. ran
e ing from 10 10 Is per cent In the Ia
n few months some the planters have IN
= ceeded In refunding their loans and s
]. curing American capital at reduc,
interest, hut these cases have been e.
ceptional ones Most 81 the mortgage
are held by Spanish capitalists
ie Secretary Alger is said TO disappro'
"a the plan which had been formulated
20 General Brookes cabinet. and that
IL one Of the reasons why Senior DesverI
r ma is coming TO Washington. Secreta
y Ayers experience with the agreeme
4 by which tn Spanish bank Of Cuba W
y TO be permitted 70 collect the taxes
II said 10 have made him cautious regar
ing fiscal affahs in the island In IN
instance, however, the American mi
tary authorities were opposed 10 makii
- the bank the tax collecting agent VIII
= in the present case they. favor some mo
general measure than mere ex,ensi
y, Of the time In which debts can be q