The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1902-08-20
ARTHUR ROPES, General Editor.
THE CUBAN LOAN.

The proposed Cuban loan of $35, &C D.
900 is still commanding considerable
attention from the officials at Wash
ington 1t has been indirectly the oc-
casion of renewal of the gossip in
regard to an extra session of Congress
to be called in Nvember for the pur-
pose of ratifying a treaty with Cuba,
and has caused no little anxiety in re-
gard to Cubas future. The state de-
partment, in the absence of Secretary
Hay, referred the news of the propos-
ed loan to the treasury department, on
the ground that, being financial
matter, it came under the jurisdic-
tion of the secretary of the treasury.
After giving the matter some ,consid
Grafton, Secretary Shaw decided that
be had no jurisdiction, re5t.r'ed the
papers to the state department, and it
is now held that the United States
has no Authority in the mater pend
ing the ratification of treaty with
Cuba which shall make the provi-
sions of the PlaCt amendment binding
on both paties.
In the mcauUimer, Senior Qlesada,
the Cuban minister, has expressed
surprise and regret at the attitude
assumed by the press of this country
in regard to the loan. He says that,
in the first place, the law has, so far,
only passed the Senate and still awaits
the action of the House ard the sigma
ture of the President. Moreover, he
regards it as extraordinary that the
friends of Cuba should assume that
her government would act on other
than business principles; that if 1.-The
loan is finally negotiated provisions
will have been made for the payment
of the Interest and the setting said OF
a sinking fund He believes that a
part of the loan scheme includes the
assessment of an internal revenue tax,
similar to the war revenue tax recent
ly collected by the United States, aud
by that means sufficient funds will be
raised to make the loan a sound bust
ness proposition. M. Quesada con-
tends that the business interests of
Cuba will be served by the negotia-
tion of the loan, that assistance can
thereby be rendered to the sugar
planters and large sum of money
will be placed in circulation which
will make for the general prosp r..
While the minister is too diplonau'c to
put it in just these words, his position
is largely this: The United STATES
has refused to Cuba the reciprocal
concessions for which she>asked and
has said to her: 1--WE have done
enough for you; now shift for your-
self. " Cuba is now preparing to
shift for herself along the lines that
her best statesmen regard as advis-
able, and it seems peculiar that the
United States shout step in and at
temptsto interfere with the plans they
conosider for the best interest of CUBE
is regarded as extremely likely
that the President will call the Senate
in extra session and that he will pres
ent for ratification a treaty which
will confirm the provisions OF the
Platt amendment and at the same
time make the tariff concessions on
Cuban imports which he advocated
at the last session. On the other
hand, Senator Burrows has made it
known that be does not regard it as
within the power of the Senate to
modify the existing tariff schedules
without the concurrence of the House,
and that fact is likely to receive the
careful consideration of the President
before any decisive action is taken