The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-02-02
A FIGHT ron MILLIONS.

There are upwards of $50 OOOO worth
of Cuban war bonds outstanding. They
were issued by Spain as means of rails
ing money with which to put down Gu
ban Instructions. over $300, $50 900 of the
bonds were issued as a cons quence of
the final uprising aga INST Spain which
eliminated in the United States govern
ment going to the rescue of the island
and driving S. ain out of the Western
Hemisphere. During the peace negotia-
lions at Paris the Spanish commissioners
endeavored to have written into the trea y
a provision under the terms of which
Spain might repu.iate tt. Sc bonds and
have them thrown upon Cuba. The
American commissioners, however, would
not agree to any such thing. They took
the position that the bonds had been is
sued and the money us by Spain for
the purpose of continuing the Spanish
domination of the island. and that the
debt could not be properly charged
against Cuba since the funds had not
been used for the benefit of the people of
the island or for public Improvements.
The Cuban Constitutional Convention
has taken cosnizance of these bonds and
made it pain that it is not the purpose
OF. the Cuban Republic to pay them. only
a few days ago the convention unani-
mously adopted an article which in effect
repudiates the war bonds issued by
Spain but leaves open the way for the
republic to pay the debts incurred by
the revolutionists in the recent war.
The bonds were sold chiefly in Spain and
France, where most of them are still
held. 1t is stated. however. that as a
speculation number of them have been
bought and brought to this country. The
price paid was very low. And the own
ers of them are now pulling political
States government force the bonds upon
Cuba. At the present time there is said
to be strong lobby in Washington seek
ing to direct legislation to that end
1t is very well understood that the con-
stitution of Cuba adopted by the Consti-
tutional Convention is to he subm tied
to the Congress of the United States. 1t
is the purpose Of the holders Of the BOMBS
in question and their Washington lobby
to induce Congress to SO amend the Gu
Ran constitution as to permit of the pay
ment of the bonds. They are confident
that if Congress We're to return the con-
stitution to Cuba with such an amend
ment the island would not dare to decline
to ratify It. 1T is their hope, therefore
to make the big ana strong governm- Mt
bully the little government irto paying
a debt contracted by Spain for the pur-
pose of hold ng its people in subsection
1t is underetood that the Presi lent Is
opposed to the scheme. but what Con-
gress will do cannot be predicted with
any confidence. There is a Republ can
majority i'm that body and tho bondhold-
ing interests have a powerful pull upon
Republican lawmakers. The bond lobby
is trying to impress upon the powers at
Washington that an extra session is neces-
/ sary, for the consideration Of the Cuban
| constitution and the transaction Of other
! important public business. inasmuch as
the present regular session has only a
short time to run. At the extra session
the lobbyists would try to rush through
their scheme to mulct the Cubans for the
| Spanish-Cuban war bonds.
The success Of this enterprise would
mean millions Of dollars IN profits TO the
spectators in the now almost worthless
securities.