The principle thus stated is thought self-evidently sound and just. Americans were surprised to find how completely it was overlooked in the contemporaneous European discussion--how general was the sympathy with the Spanish request for arbitration, and how naïf the apparently genuine surprise at the instant and unqualified refusal to consider it. Even English voices joined in the chorus of encouraging approval that, from every quarter in Europe, greeted the formal Spanish appeal for an opportunity to try over in another forum the questions they had already submitted to the arbitrament of arms. The more clearly the American view is now recognized and accepted, the greater must be the tendency in the future to seek arbitration at the outset. To refuse arbitration when only sought at the end of war, and as a means of escaping its consequences, is certainly to stimulate efforts for averting war at the beginning of difficulties by means of arbitration. The refusal prevents such degradation of a noble reform to an ignoble end as would make arbitration the refuge, not of those who wish to avoid war, but only of those who have preferred war and been beaten at it. The American precedent should thus become a powerful influence for promoting the cause of genuine international arbitration, and so for the preservation of peace between nations. [Sidenote: Does Debt Follow Sovereignty?] Equally unexpected and important to the development of ordered liberty and good government in the world was the American refusal to accept any responsibility, for themselves or for the Cubans, on account of the so-called Cuban debt. The principle asserted from the outset by the American Commissioners, and finally maintained, in negotiating the Peace of Paris, was that a national debt incurred in efforts to subdue a colony, even if called a colonial debt, or secured by a pledge of colonial revenues, cannot be attached in the nature of a mortgage to the territory of that colony, so that when the colony gains its independence it may still be held for the cost of the unsuccessful efforts to keep it in subjection. The first intimations that no part of the so-called Cuban debt would either be assumed by the United States or transferred with the territory to the Cubans, were met with an outcry from every bourse in Europe. Bankers, investors, and the financial world in general had taken it for granted that bonds which had been regularly issued by the Power exercising sovereignty over the territory, and which specifically pledged the revenues of custom-houses in that territory for the payment of the interest and ultimately of the principal, must be recognized. Not to do it, they said, would be bald, unblushing repudiation--a thing least to be looked for or tolerated in a nation of spotless credit and great wealth, which in past times of trial had made many sacrifices to preserve its financial honor untarnished.