The sun., 1909-06-16
oyBA aND THE spANIsH DEBr.
The Interesting Opinien Of Senate'
6po0ner.


The Interesting Opinien Of Senatss
spooner.
| From the Congressional Rseord. Vol. 81. Part D,
| Paos ea8, Appsadis,
| Mr.. Money--Doee the Senator state TO
the Senate as q lawyer that the United
States u 1t assists In driving the spanish
from the island and establishing Tree,
stable and Independent government thers
will In any way become responsible lot
Spanish bonds because tho revenues o.
Cuba have been hypothecsted to that
purpose?
Mr.. spooner-I have not said anything
of the kind.
Mr.. Money-Do understand the Senator
to say that II the republic OF Cuba should
he acknowledged and should win her inde-
pendence she would be responsible In any
wayr
Mr.. spooner-That is a question OF law
and the power OF other Governments,
| Nh. Money-That is why i ask the sena-
tor i acknowledge his eminent ability
and should really like to have an opinion.
Mr.. Spooner-I have never made profess
sion that am an international lawyer.
| Mr.. Money-Just as the Senator Is.
Mr.. Spooner--I have not found In the
books, as far as my Investigations have
gone, and have only looked into 1t Tor
| myself, q satisfactory statement upon the
question. ] think there might. as said
moment ago, possibly be difference II the
obligations of Spain were based solely upon
the hypothecation OF the revenues OF Cuba
from what 1t would be II that were only
| part OF the security:ebut that Is no matter
now. 1t has been my opinion. and ] will
proceed to answer the Senator's question.
that the Cuban republic, or whatever gov
ernment is established by the Cubans
would not be liable for any part Of the Span
ish war debt, even based upon hypothe.
cation, and solely upon a hypotheoation,
Of Cuban revenues. and will say why.
Mr.. Money-Very good.
Mr.. SpoonSr-They are the obligations OF
Spain, as understand it. They are not q
mortgage upon the Cuban people. They
are not a mortgage. strictly speaking. or
of Cuba It Is q Spanish debt secured by
pledge OF revenues which can only be COL
lected by the exercise Of Spanish sovsr-
eighty.
Mr.. Money! am obliged to the Senator
for his answer.
Mr.. Gray-I should like to ask the Senator
from Wisconsin whether he has found any
where in the books any allusion to the doc
trine OF international subro cation for the
debts that are supposed to be based on the
hypothecated revenues Of a conquered terri
tory except when the territory has been
| absorbed by the country which is sought
to be made liable. Is there any other
ground?
Mr.. spooner-That is not quite clear.
| Mr.. Gray--l should like to hear the Sena-
tor as to whether he has found any such
sllusion.
Mr.. spooner-i do not remember to have
done so. l wish 70 be through. Ii the
Spanish obligation or pledge is to pay the
bonds. principal and interest. out OF Cuban
revenue. every man who took . bond must
have taken 1t with notice. 1t seems to me.
that he depended for payment out Of the
hypothecsted funds upon the ability Of
| Spain to continue her sovereignty. because.
as | said moment ago, the collection Of
these revenues Is only an exercise Of snv-
ereignty. and II Spain lost her sovereignty
over the island OF Cuba she would Of course
| lose her power to realize or pay the revenues
pledged.
Mr.. Ailen--will the Senator permit me
question?
Mr.. Spooner-Certainly.
Mr.. Allen-The bonded Indebtedness OF
Cuba is about &Sie. 100000. In round num-
| bers.
Mr.. Spooner- You do not mean Cuba?
Mr.. Allen-I mean Cuba.
Mr.. Spooner-Oh. no!
Mr.. Ailen-Yes. l am correct. The Span
ish Indebtedness Of Cuba. which is kept
separate, amounts to SSlo. .ooo. 900, All OF
that bonded indebtedness was issued before
the war now In progress. with the exception
OF about N7s. .0oO. 900. What will become Of
that portion Of the bonded Indebtedness
issued before tn, :eaking out of hostilities?
49, L. rl~k
been discussing and would have been
through with but for the interruption.
Mr.. Allen-The Senator was speaking
about the indebtedness that has been issued
the Spanish war debt. ] am now speak
ing of that portion OF the indebtedn ess that
existed before the war
Mr.. Spooner-I do not care whether II be
war debt or what kind OF debt 1t IL; upon
the Senator's statement 1t is debt of Spain.
II Is an obligation Of the Spanish Govern
ment 1t is no obligation Of the Cuban
Government. for there never has been any.
as / understand 1t. My proposition was
simply this: or course II it is not based upon
or secured by q hypothecstion Of Cuban
revenues there can be no question about 1t.
II 1t is secured by hypothecation of
Cuban revenues. 1t Is dependent upon the
continued sovereignty OF Spain in Cuba
to enable her to sequ estrate those revenues
and to pay them over to the Cuban Govern
ment And that bond was subject to this
condition. although not written In 1t bv the
hand Of man, made part Of 1t by q higher
law than any man or set OF men can enact,
that Spain should SO conduct herself, should
so exercise her sovereignty in the island
OF Csba that In the sight Of God and In he
light Of the civilization OF the century she
might be permitted to continue it.
That she has not nobody here disputes,
and 1t has seemed to me very much like this
case. because the principle which underlies
those obligstions-they are not inter-
national obligations-is very much the
principle which underlies the obligations
between individuals sometimes. II one
o Sns q fat and mortgages the issues, rents
and proflts-the income OF it-for twenty
Ave years to the Senator from Rhode island,
and he makes a pesthouse of 1t and It be-
comes infected 90 that 1t 10 q menace to the
health Of the whole city. and the public
interest and the public safety require that
it should be battered down. and the NUM-
cipality batters IT down. would the munich
pality be liable for the debt?
MIR. President, there Ia an authority which
| have here but will not take the time to
read. ] will cite 1t. 1t Is found In Halls
International Law" pages 24a and 2<.,
including the elaborate note. This seems.
I think to clearly sustain the proposltiop