Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-01-03


The present tendency of the Cubans is to
perplexng, or else to leave it in suspense
The knowledge Of the complications which
might arise led the late Senator Cushman
K. Davis to advise a direct course. AS a
member Of the Paris peace commission, he
saw the possible ENHANCEMENT, and, per-
haps coercion of Cuba If the matter were
left open after the new government was
set up. So he advised meeting the issue
sGuarely by specific declaration, either in
the Cuban constitution, or on the part Of
the American Congress- when 1t came to
pass on the constitution. He was con-
sidering this subject when stricken with
ia tal illness, and though he had not made
up his mind as to the exact line of action.
he was very positive in his advice that the
issue should be met openly, and If neces-
sary defiantly at the start.
Incidental to this question Of the Spanish
bonded national debt Is a matter of $2C.-
COO 600 paper currency, issued during Wey-
ler's time, and known as "Weyler's scrip"
1t has other legs to stand on than the rec
ognition of the bonded Indebtedness, but
If this Indebtedness should be recognized
the spectators who hold the scrip undoubt-
edly would insist on it's being considered
as a Cuban liability, and probably they
could establish their case before an inter-
national tribunal, for the paper currency
was issued as part OF the war expenses
of Spain The issue was made through the
Spanish bank of the Island Of Cuba, which
had a semi-official relation toward the
Spanish government. The currency went
the way of all war currencies, and though
it had an alleged silver reserve Of one
third the face value and supplementary
gold reserve, public confidence in 1t weak
ened. Toward the end of Spanish sover-
eighty, even before the destruction of the
Maine its circulation was very restricted.
Three dollars in Weylers scrip were need
ed In order to buy the equivalent Of one dol
lar in Spanish gold.
Liability for the Weyler Scrip.
After the American occupation the specu-
lators bought the scrip and a movement
was concerted to, force payment on the
part of the Spanish bank through the me-
dunn of the courts. The bank denied its
liability and an ARRANGEMENT was made by
which court proceedings were not pressed
However, the question was not determined
by any authoritative tribunal, and may
be said to be in suspense at this time. Be-
sides the alleged liability of the bank. the
SPECTATORS had iafaikt hope of their abili-
~ to have the Neyler scrip redeemed by
the Spanish government. But back Of this
is the possbility of getting 1t counted in
ment. While none of-these circumstances
encourage investnentfm the scrip punched
together there is enough to make the basis
of speculation Thus happens that In
"
has a speculative value and. is still quoted
at to cents per dollar
Bonds Issued ny the Junta.
1t has been assumed that the recognition
of the claims of the Cuban revolution was
a matter entirely within the province of
the constitutional convention or of the gov
eminent which may be set up In pursuance
of its action. This covers the payment Of
the insurgent troops. as well as the al
legged Cuban bonds and other obligations
said to have been issued by the revolution
ary iuntas. Probably If the American pub
lie should be startled With a prospective
Cuban debt of $1OOO00.O0O in settlement Of
these obligations a new view would he
taken of the subject However. one of the
Cuban leaders who was familiar with all
the obligations and promises, and who has
access to the pay rolls of the insurgents,
insists that instead Of $50 600 coo. which is
the current rumor, at the outside there will
not be $4,000. 600 Indebtedness to assume
When the So, COO 900 from the United States
was distributed among the insurgents by
General Brooke the estimate was $15, 0O0.-
600. CHARLES NJ. PEPPER.
Copyright, 1901.