Rensselaer Semi-Weekly Republican, Volume 19, Number 24, Rensselaer, Jasper County, 26 November 1897 — CUBA REFUSES LOAN. [ARTICLE]

CUBA REFUSES LOAN.

Ryndicate’a Offer to Advance $200,000,000 Declined. Cuba has refused the offer of a loan of $200,000,000 with which to purchase her independence from Spain. Various dippatches sent out from Washington of late have stated that an enormously wealthy syndicate had offered the Cuban Government a sum sufficient to buy their liberty of Spain, and that it was more than probable that Cuba would acdept the tender. Since the beginning of the revolution various syndicates have been formed for the purpose of terminating the war in Cuba and incidentally gaining control, if not possession, of the island. The last to make such an offer was composed of about twenty of the most proniinent millionaires of St. Louis and of the East. Gerrit H. Ten Broeck of St. Louie, e lawyer of that city, went to New York in September last and as the syndicate’s representative sought the Cuba 9 delegation. The result of the offer of the syndicate has just transpired. Several preliminary interviews were arranged by Mr. Ten Broeck and others with Benjamin Guerra, the treasurer of the Cuban delegation, but owing to the fact that he was suddenly called to Mexico matters were not brought to a final issue until a few days ago. The termination of ths whole matter in a nutshell is that the Cuban provisional government, acting through their representatives in New York, has refused a loan of $200,000,000 with which to buy their freedom from Spain. George Reus, a war correspondent, acted as the active agent between the syndicate and the Cuban delegation. The syndicate proposed to loan the Cuban provisional government $200,000,000 or any amount in excess of that necessary to purchase their independence from Spain without further fighting. Bonds of the republic of Cuba were to be accepted as security for the amount and at very near their face value. Six per cent interest was to be asked. Much to the surprise and disappointment of the syndicate the loan was respectfully declined. In answer Mr. Guerra stated that although the temptation to accept any terms which would bring to an end the sufferings of the women and children who were starving through Spain's policy of concentration was very great, still the leaders of the revolution, who were responsible for the future of Ciiba, could not consent to saddle themselves and their posterity with a debt that, even with the blessings of independence, would sink them into the slough of financial slavery.