The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-08-05
Matter That Concerns the United
states. According to Article of
Senator PIatt's Amendment.
ITINERARY OF A YOUNG PRINCE
HEIR APPARENT TO THE THRONE
OF SIAM COMING NEXT MONTH.
Will Visit Indianapolis About the
Middle Of October and Return
Home Via the Pacific.

WASHINGTON, Aug. 4-The State De-
partment has received the following cable
gram from Minister Squires. dated Havana,
Aug. 4: THE House has passed bill au-
thorizing a loan of thirty-fve millions.
Minimum rate of issue 80 per cent, maxi
mum interest per cent. redeemable in
forty years"
Under the Plat amendment the United
States is bound to take cognizance of every
action of the Cuban government relating
to loans. Article 2 of that amendment pro-
vides that said government shall not as
sumo or contract any public debt to pay
the interest on which and to make reason
able sinking fund provision for the ultimate
discharge of which the ordinary revenues
of the Island of Cuba, after defraying the
current expenses of the government, shall
be inadequate"
No computation has been made to ascer-
tain whether or not the loan provided Tor
in the bill which Minister Squires refers 10
trespasses on the provision of the Piatt
amendment, but 1t is presumed the Cuban
revenues can pay the interest and provide
& sinking fund beside defraying the ordi-
nary expenses of the government as pro-
vided in the amendment. At the same time
IL will no doubt be found very difficult to
interpret this particular provision, as the
question of revenues may fiuctuate accord
Ing to the conditions in the island. II is
known that the intention OF Article was 10
prevent any extraordinary issue or bonds
| for the purpose of redeeming the bonds OF
! the So-called republic previous to the Span
| ish-American war and the payment or large
| bounties to those who had taken part In
the insurrection against Spain. 1t was IN
| tended as check upon the CUBAN govern
ment In the matter of mourning indebted
| ness, although ii carries no provision indl-
eating what would be the action OF the
| United States should the Cuban govern
| ment exceed the Indebtedness prohibited
| by the amendment. Neither Is there any
thing In the amendment indicating what
steps the United States would take to deter
mine whether the Indebtedness was beyond
the prescription or how it would prevent
the mourning of such Indebtedness.
| HAVANA, Aug. 4-The Senate has dis
! cussed and approved in part a bill to en-
| power the executive to raise loan Of $1,000
! 600 at the minimum price of 80 and the
| maximum rate of interest OF per cent,
payable in thirty years, to be used to as
sist the sugar-cane growers Of the island,
| who will be paid at the rate of 30 cents
per 100 arobas Of sugar cane ground from
! the last crop. This money is TO be repaid
| by the cane growers in February, March
| and April 1903, at per cent. interest. The
| bill provides that the executive be au-
thorized to pledge the customs receipts OF
| the republic as a guarantee for the prin-
| cipal and interest of this loan and to
| guarantee increased expenditures on ac-
! count of the loan. The executive is also
! 10 be authorized 10 pledge the customs
! receipts upon certain articles, tariffs be-
| ing raised propOrtionatey. Six months
! after date another loan of $S5000.00 is TO
| be raised on the same conditions as to
| time, price of issue and interest as the
| aforementioned loan. Four million dol
lars worth of the bonds of the second loan
are to be devoted to taking up the first
loan. The rest of the SS5O00,000 loan is 10
| be used in paying the debts of the revolu-
| ton, referred to in the constitution, and
! to pay the Cuban revolutionary army. This
! latter obligation amounts to S23.0000O0. 1t
is provided, also, that Congress, before
the closing of the present session, is TO
| vote a certain portion Of the income of
the island to pay interest on and provide
| sinking fund for the second loan.
| 1t is claimed that this bill Will substan-
| TALLY pass the House The Senate is said
to be really opposed to a large loan, but 10
| agreed to this measure. A majority of the
! former Cuban revolutionary element is in
favor of paying the army. 1t is said In
other quarters that the plan has been di-
| Vided into two sections, in order to allow
| the first loan to be raised and that the
second or big loan will be shelved. That
| part of the bill referring to guaranteeing
the 81, 100000 loan by receipts from increased
duties on certain articles, was not approved
by the Senate. No project has yet passed
the House.
The council of secretaries has decided to
ask Congress to authorize the expenditure
| necessary for the extension OF the present
sea wall at La Punta and the end of the
Prade in Havana, in order to give work
to the unemployed.