In the face of such conduct, it is claimed by the Spaniards that we are entitled to no consideration, and it is believed both here and abroad that all of this kind of absurd talk means that Spain contemplates a resort to privateers to get even with us.
Privateers, in former years, when fitted out by Spain have acted so much like pirates that they have been considered and treated as such by England and by other nations, and the whole system has been so seriously condemned that it is believed that, should either Spain or this country fit out privateers, other nations would immediately interfere and put a stop to it.
There has been considerable discussion in reference to Hawaii; the question of annexation is favored almost universally by our people and in Congress; in fact, the annexation of the island is now considered not merely advisable, but absolutely necessary. In sending troops from this country to the Philippine Islands we must stop on the way for supplies, and should Hawaii be captured by the Spaniards or annexed by another power, it would prove a very serious matter to us; it is to be hoped that the question of annexation will be settled at once.
Very little news of interest is received from Spain. In the list of the new Spanish ministry, published week before last, we included the name of Señor Leon y Castillo as Minister of Foreign Affairs; Señor Castillo did not accept the office, which was then offered to Duke Almodovar de Rio, who has accepted.
The duke said that he did not wish the office, but accepted it on patriotic grounds, "as every Spaniard is bound to devote all his powers to the defence of his country." The duke is well and favorably known in England, where he was educated, and it is considered that the choice for this office is a good one.
The Spanish Minister of Finance, in discussing Spain's financial condition, recently said that he considered it satisfactory, and that the payment of all expenses of the war is assured; as a means of raising additional funds he proposes to convert the floating debt, now amounting to about 500,000,000 pesetas, into treasury bonds of small denomination, and to extend the Bank of Spain note issues. Spain may by this issue of additional paper money find herself in as unfortunate a position as did Cuba when Weyler endeavored to force paper money upon the people there. With an increase of twenty per cent. on taxes of all kinds, and with a paper money of doubtful value, Spain will indeed be in a sorry predicament.
Later reports from Spain would indicate that a crisis is approaching; business is at a standstill, and a famine imminent, as provisions are so high as to place them beyond the reach of the poorer people. It is thought that if an encounter with our fleet ends in disaster to Admiral Cervera, a revolution is inevitable. It is said that Emperor Francis Joseph of Austria has advised the Queen to leave the country, but that she has expressed her determination to remain and face the result.