Show I SPAINS GLOOMY OUTLOOK Holders of Spanish bonds are uneasy Thee are reasons for this The Carlst movement is threatening the kingdom again Another war would completely ely bankrupt Spain For several years the government had been running behind Its colonial policy rendered Cuba and the Philippines a burden rather than a source of profit The insurrections cost money Spanish officials were robbing the people not only of the colonies but those of the peninsula The imperial treasury was looted by Spanish generals and colonels under pretext of serving the crown And the national debt continued con-tinued to pie up and the taxes to increase In-crease and the people to groan and resist re-sist Spains consolidated debt home and foreign is some 1100000000 There is i beside a debt to the Bank of Spain of 330000000 The Cuban debt is variously var-iously state but it Is estimated at 400000000 an increase of 250000000 in five years This belongs to Spain ret as the United State never assumed i Each nation pays its own bills Dcr ing the same period the Philippine debt increased from nothing to 40OOO0 What puzzle Spanish bondholders is how Spain is going to pay these immense im-mense sums now that the revenues from Cuba Porto Rico and the oriental archipelago arch-ipelago are cut off There will be an interval of deinquency in the payment of Interest and a compromise with creditors cred-itors will become necessary I will be a sort of proceeding in bankruptcy France will be the chief sufferer French holders of Spanish bonds have so1e GOOOOOOOO of that kind of ce cUTites and get between 5000OOO and 30OOOOOO of interest on them There was a conversion in 188182 after which it was hope that Spain would always met her obligations with ease But bad management soon brought fresh deficits and the island insurrections insurrec-tions not only increase the expendl i tunes but decreased the revenues even to the 1to estrYing thoe from th coonies altogether The rcent war was expensive and a civil 1a nQw would men the end of Spain a an independent powerS > power-S |