The Washington times., 1902-08-10
Proposed Bond Issue
Meets With Opposition
in Official Circles.
WOULD NOT AFFORD RELIEF
Negotiation of Trade Relations With
Island Looked Upon as Best and Only
Solution of Problem-Secreta-y Shaw
Considering Proposed Legislation.

The proposition OF the Cuban govern
ment to float a loan of $1,000, 900 has
revived the subject of recipror ty
treaty between the United States and
the new republic. Although no official
communication has been sent to the Ha-
vana government expressing disap-
proval of the proposed loan. it has. of
course, become known to the Cuban Of
ficials that the loan proposition does not
meet with favor here.
The opinion amcng officials in Wash
ington who are directly concerned in
the treaty question growing out of the
proposed Cuban loan is that the issue
OF bonds by the government of Cuba,
even if it were not forbidden by the
terms of the Platt amendment, would
not afford substantial relief
Trade Relations Needed.
They believe that the only enlightened
method of affording relief in Cuba is
by the negotiation of trade relations
with the island, such as were urged
rpon Congress at the late session by
President Roosevelt.
A loan, secured by the issue of bonds
of the Cuban government, would not re-
'1ieve the prostrated sugar industry and
other business interests of the island,
md it is universally recognized. there
as here. that the root of the whole diff
fculty in Cuba is in the industrial con-
ditions.
Secretary Shaw has under coGsidera-
tfon the question raised by the. pro-
posed Cuban loan, and he will probably
make a report to the President on the
subject in a few days. He had a con-
ference with the Solicitor of the Treas
ury yesterday, but little doubt exists
that the decision will hold that the pro-
posed loan could not be made under the
terms OF the Cuban constitution, into
which the Platt amendment was incor-
porated.
May Make an Appeal.
1t was said yesterday that the Cuban
authorities might possibly appeal to
President Roosevelt Immediately for a
renewal of the effort to secure the adop-
tion of reciprocal trade arrangement
between Cuba and the United States.
This was merely a suggestion, made
from an official source, and it is not
known that such step is actually in
contemplation by President Palma
Immediate relief through a reciprocity
treaty would mean that Congress would
have TO be called together in extraord-
nary session.
There was a time, shortly before the
adjournment of the late session, when
President Roosevelt strongly considered
the advisability of calling an extra ses-
sion early in the fall, but he abandoned
the idea. Some of the leaders of the
Senate told him that it would probably
be possible TO secure the adoption of a
reciprocity treaty early in the next reg
ular session.
President Determined
Mr.. Roosevelts Fourth of July speech
at Pittsburg indicated that he was de-
termined that such treaty should be
negotiats I'd and ratified, but it is known
that at that time he had no idea of call
ing an extra session to accomplish this
purpose.
Members of the Senate would certain
ly be strongly opposed to an extra ses- |
sion. and to call them together now
would be to encounter a prejudice en-
tirely distinct from the opposition |
which some Senators feel toward the |
proposition to extend trade concessions |
TO Cuba.
1t is believed that there will be no |
serious obstacle in the way of ratifying |
a reciprocity treaty at the regular ses-
sion The Republican conventions in |
several States have virtually repudiated |
the action of their Senators in opposing |
the Presidents Cuban policy, and some /
M fhaCo will la in lfpa
for the reciprocity measure when it is
brought into the Senate