Waterbury Democrat., 1902-05-17

regency, to which I was called by the constitution at a time of profound sad ness and unexpected widowhood, feel in the depth of my heart the necessity of expressing to the Spanish people my immense and unchanging gratitude for the proofs of affection and support which I have received from all classes of society. If at that time l foresaw that without the loyalty and confidence of the people I would be unable to full fill my mission, to-day in looking back on this period, the longest of all Span ish regencies, and recollecting the bit ter trials which Providence has spared us. I appreciate those virtues in all their magnitude, affirming that thanks to them, the nation has been able to traverse such q profound crisis under conditions which augur an epoch of tranquil we'll being for the future Therefore. in handing to King Alfonso XIII. the powers which I have exer. cised in his name, am confident that all the Spaniards who are gathered around him will inspire him with the confidence and fortitude necessary to fulfill the hopes placed in him. That will be the most complete recompense for his mother who having devoted her life to the fulfillment of her duties. begs God to project her son, in order that emulating the glories of his an, cestors he may succeed in giving peace and prosperity to the noble people over whom he will reign tomorrow. I beg you to make known to all Spaniards this sincere expression of my profound thanks and the fervent wishes make Tor the felicity of our beloved coun- try.''
 The royal procession moved from in front of the palace shortly before ? o'clock and proceeded to the chamber of deputies where in the presence of the senators ard deputies the young king took the oath of office to uphold the constitution. Twelve senators and twelve deputies received their majes- ties at the steps of the chamber and conducted them to the coronation chamber. All remained standing until the queen regent gave the command to be seated. The president of the chamber, Senor Veta. Armjo, admins tered the oath and the king then took the throne while twenty-one guns an- flounced to the people that new king had ascended the throne of Spain.
 New York, May 17.-Spain's condi- tfon cannot be accurately judged from the pleasurable excitement of a pOpu- lar festival, when the streets of the capitol are thronged with visitors and there is brilliant display of equipages in the parks, cables the Madrid cores pondent of the Tribune.
 Without reference to the present ceremony with its Spanish yivacity and holiday humor, the facts justify the conclusion that the country is in a greatly improved state and that the war involving the loss of the colonies has proved to be blessing in disguise.
 The terrible drain upon the resources of the Kingdom from military expendl- tnres has ceased and the pressure of taxation has been relaxed. The law adopted a year ago requiring the pay ment of import duties Tn gold has op- erated well and is enabling the treas ury to create a gold reserve available for resumption purposes. While noth- ing definite has yet been accomplished in the direction of a contraction of the currency, there has been material in- crease In the purchasing power of the depreciated medium of exchange, and there has been also a great gain in the buoyancy of the public conf1- dence. Bankers and merchants are convinced that better era has opened for Spanish industry. 2 New linen and other textile factories k4ve been built in northern Span and
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