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During the period of civil strife following the assassination of President Caceres in 1911 the government, in order to carry on its military campaigns, neglected to pay the salaries of its civil employees, pledged its internal revenues, diverted and misapplied amounts of the trust fund set aside for public works, and incurred indebtedness for supplies and materials purchased and money borrowed.
Even with this rough-riding over obstacles, for the other officers promoted, however useful in their former grade, not being wanted as admirals, remained perforce unemployed, the advantage of reaching post-rank betimes is evident enough; and to this chiefly Nelson referred in acknowledging his permanent indebtedness to Sir Peter Parker.
Not only were vast sums going out every day for water-pipe, railroad iron, cement, lumber, and other material for the great improvements going on in every direction, most of which material had already been ordered, but thousands more were still going out for diamonds and a host of other things already bought things that only increase the general indebtedness of community by making those who cannot afford them imitate those who can.
On the refusal of the Americans to accede to this, the Spanish commissioners urged the transfer of Cuba to the United States without any promise as to its future. Instructions from Washington both on possession and on debt, however, were explicit and in the end Spain had to relinquish all claim to Cuba and assume responsibility for its indebtedness.
Indebtedness is the great curse of Indian agriculture, and the peasant's chief necessity is cheap credit obtained on a system that will not cause him to sink deeper into the mire. Here again it is not Indian politicians, but the British rulers of India who have found a solution, and it is of such importance and promise that it deserves more than mere passing mention.
There is some question about this indebtedness because tradition does not speak very confidently, in some essentials, about Van den Ende's daughter Clara Maria. Clara, tradition is agreed, was intellectually and artistically well endowed, although she was not very good looking. In her father's absence on political affairs she took his place in the school, teaching music as well as Latin.
It is painful to read that during the months of uncertainty which preceded the actual crash, Scott threw the helve after the hatchet by charging himself personally, first, with an advance, or, at least, bond for £5000, and then for another of double that amount, to help two firms, Constable and Hurst & Robinson, whose combined indebtedness was over half a million.
Earliest daylight made this suggestion look very insubstantial; on the other hand, it strengthened his memory of Mr. Charman's virtual indebtedness to him. He jumped out of bed to reach the cheque, and for an hour lay with it in his hand. Then he rose and dressed mechanically. After the day's work he rambled in a street of large shops.
A National Debt which amounts to less than £2 per head of the population compares very favourably with that of Great Britain, which totals up to something like £19 per head, leaving out of account the immense and yearly growing indebtedness of our great cities and towns.
If Great Britain gave up her own claims to Reparations, and the "C" Bonds were cancelled to the extent of France's indebtedness to us, France's claims against Germany would be actually greater, even on paper, than they are now. For the demands under the London Settlement would be unabated, and France would be entitled to a larger proportion of them. The offer is, therefore, derisory.
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