Show HAS SPAIN HAD ENOUGH the complete destruction of admiral cerveris ver veras squadron the most forbid able one of the three on which spain relied iq the present war and the prospective fall of santiago should go far towards convincing the spanish people and government of the folly of continuing their resistance to a su perlor force every peal of thunder from the guns that sent destruction to the ships in the bay was an argument for peace after manila and santiago spa spanish n ish honor ought to be satisfied and the queen regent should be justi sed fled in taking the initiatory steps 1 towards averting further carnage even at the cost to her boy of the colonies but will spain now sue for peace it la reported that the greatest alarm prevails throughout spain on amount account of e the ithe threatened bombardment of the coast cities by an american squadron the fashionable watering places axe are bising being deserted submarine mines are F betag planted in ape the harbor of cadiz cewol corunna coranna Cor unna algeciras ceuta ceata maro barcelona elona and cartagena and torpedo t boats boat i manned by eft efficient lelent crews are being stationed at convenient points I 1 f spanish arsenals are working night and day to get a second reserve fleet ready if the government party is continued in power there will evident I 1 ay be no overtures for peace until spain herself is prostrate and her coast cities present the spectacle of a gen oral ragna there are however evidences that the peace party parti r is growing in strength particularly in the pro provinces vinces cham r bers ben of commerce economical societies trades unions and laborers are said to manifestoes manifest oes and held dem in favor of the cessation of there is in a marked difference en between the interests of the ahe finan ct aland landed classes of the count country ry land kd those of the politicians who affect A 4 bold in the possibilities of success an fn resistance T the h e fall of Sant santiago lago emch ah ieh must occur before many hours hour give the peace me party the covet 7 f S opportunity of that the ask for peace or if that can oabe done that it resign and rive ive at a government of peaceful tendencies later peace will cost the country dearly spain is approaching a critical period in her financial condition the heavy july interest on the national foreign debt is due money must be borrowed to meet it but the government recently authorized the emission of one thousand million pesetas of internal bonds and an increase from to pesetas in the note circulation of the bank of the kingdom the object being to turn the bonds into the bank in exchange tor for the notes the depreciation forced by this issue ads shown in the fact that the bonds securing notes at par values now command only 33 per cent of their face value in the open market the government is virtually bankrupt its credit is gone its ships are destroyed and the last means of carrying on the war have disappeared let spain now lay down her colonies in this hemisphere at the altar of civilization and humanity as a peace offering acceptable to god and man and as an atonement for the sins of centuries |