The Providence news. (Providence [R.I.]) 1891-1906, 1901-01-29
Holders of $45O,OOO,OOO Spanish
Securities Will Try to Get Their
Money Back--Defeated in Cuba

washington. Jan. 29.-Preliminary
skirmishing I'm battle for about A5o.O00.-
900 has already begun in Washington.
HoldeiS or the Cuban war bonds, issued
by Spain 10 raise funds for the prosecu-
tion OF The wars In Cuba, are again NOV
Ing to get their money back.
A lobby is already at work in Washing
ton. and It has had representatives at the
Cuban Constitutional Convention seeking
TO shape the constitution of the island 20
as to admit OF a compromise regarding
this stupcndous claim.
IN Cuba the bondholders have met with
defeat, The draft Of the constitution now
being considered shuts ont any possibility
of compromise on these bonds. but has
left the way open for the payment OF the
bonds of the Republic, OF Cuba issued by
tho Junta. This provision appears In the
twenty third section OF the draft.
WHAT THE CONSTITUTION SAYS.
"The Republic Of Cuba does not recog-
nize. nor win not recognize any dcbts or
compromises contracted prior 10 the pro-
mulcatlpn OF the constitution.
From the said prohibition are excepted
the Gebts and compromises legiiimately
contracted for I'm behalf OF the revolution
from and after April "a 1898. by corps
mmandcrs OF the liberating army until
---. on which the constitution OF Jnia-
gunyi was promulgated and those which
the revolutionary governments contract
ed. either by themselves or by their ie-
gitimate representatives an foreign coun-
tries, which debts and compromises shall
be classified by Congress. and which body
shall decide as to The payment OF those
which IN It's judgment are legitimate"
IL - said here by men high In the gov
Crnmcnt that an effort VIII be made when
the constitution is submitted to Congress
for its approval 10 amend the constitution
so as to open the door to Il consideration
by the Cuban government. when formed
or the claims under the Cuban debt
The Representatives OF The bondhOlders
win Geek 10 have Congress act quietly,
nrd thesc men are spreading the talk ia
favor of an extra session OF Congress
They believe that ii they can get phe
conRfiiution amended they can make ar
raneementsH with the Cuban government
whereby i compromise can be reached
With this eud In view they will seek to
hNry the Withdrawal OF the United States
from Cuba and the turning over TO the
cubans themselves of all the affairs OF
slse island
pr@ide,n Mckinley win resolu,ely OPP
pos the s'hclne.
amount or CUBAN DEBT.
The Cuban debt, according 10 ono es-
timrtr. amounts TO Sss1 10000 and &c.
Cording ~ another estimate 20 NsS 7c0 ooo
Al the corclcsion ~ the ten years war
1f was sise.eoD.eoo 4 portion Of this deht
fs underEtocd 70 have hccn paid off. and
lhc rect of ~ refunded and bonds for
1l2{. {.cnofno were issued While an effort
was beire made 70 psy or thsss bonds
out OF the customs of Cuba nov issue
OF N7s.0Doc0 was authorized with a view
n fefpndng all preyibus debts
Oniya small portion OF these bonds had
been scld when the last insuirection be-
gan. Then bonds TO the extent of sln.-
soo.oW werc issued for the purpose Of
RAISING VAR funds. Subsequently q Cuban
war .cmergency loan was foated amount
ing b. Sloo.moDD
During The treaty negotiations 1T Paris
Spain cndeayored 10 have Inserted in tho
treaty statement that she was Justified
in rcpndiaung these debts. 30 as 10 place
their redemption on Cuba. This was re-