16 



THE CUBA REVIEW 



CUBA'S BONDED DEBT AND ITS REVENUE. 



The bonded debt of the Republic of Cuba and the receipts of the government 

 from its custom revenues, special taxes and other revenues during the last few 

 years are described in a letter to Speyer & Co., of New York, from the Treasury 

 Department of Cuba: 



There are outstanding at present the following issues of bonds of the Republic 

 of Cuba: 



$2,196,585 6% bonds, which are to be paid off from the proceeds of the 

 $16,500,000 4y2% bonds just sold to you; $11,100,000 internal 5% bonds, and $35,000,- 

 000 5% bonds, loan of 1904. 



The $11,100,000 internal bonds have no special security, but there is assigned 

 $50,000 in the budgets for their amortization. . . . 



The $35,000,000 5% bonds, loan of 1904, are secured by the pledge of the "Special 

 Taxes" and 15% of the custom receipts. 



The amount required to pay the interest on the $35,000,000 bonds is $1,750,000 

 annually, and after 1910 there will be further required for the sinking fund for the 

 retirement of these bonds the sum of $1,080,000 per annum. The special taxes 

 alone have, however, always realized more than the amount required for both the 

 interest and the sinking fund of these bonds. 



The custom receipts, special taxes and other revenues during the past few 

 years have amounted to as follows: 



Custom Special Other 



Receipts. Taxes. Revenues. 



For year ending June 30, 1907 $24,733,183.49 $3,987,165.37 $2,761,970.07 



1908 24,740,594.44 3.785,379.55 2,687,007.12 



1909 22,143,055.35 3,627,376.71 2,725,180.20 



(Signed) JUSTO GARCIA VELEZ, 

 Secretary of State and Acting Secretary of the Treasury. 



THE TREASURY OF CUBA. 



Official Report of the Secretary of the Treasury, Showing Condition on August, 



1909. 



LIABILITIES. 



ASSETS. 

 General Treasury : 



Cash on hand $184,677.09 



Deposited with the Na- 

 tional Bank of Cuba. 37,662.57 

 Deposited with the 

 Royal Bank of Can- 

 ada 180,000.00 



Collections : 



Cash on hand 



Public taxes : 

 Balance against this account. 



-$402,339.66 



103,103.47 



9,067,508.00 



Total $9,572,951.13 



Advance orders in transit 401,276.15 



Postal money orders 340,365.75 



Debts pending 20,054.97 



Honorary consuls 1,216.00 



Taxes on the loans 835,581.12 



On deposit for the loan 1st 50% 280,169.92 

 Balance due to the Army of 



Liberation, 2d half 363,462.32 



Epidemic diseases 49,441.52 



Individual contracts 96,442.45 



Special Laws of 1906 1,417,043.69 



Special Laws of 1909 962,538.40 



Decree of the Provisional Gov- 

 ernor .... 3.270.818.10 



Maintenance of detained immi- 

 grants 1,866.43 



Sewering and paving of the 



City of Havana 1,532,674.31 



Total $9,572,951.13 



Trust Company's New Building. 



The Trust Company of Cuba acquired 

 title on September 16 to the building at 

 No. 53 Obispo Street, Havana, the pur- 

 chase price being quoted at $55,000. The 

 company intends to erect a new building 

 on the plot, which will be the home of^ce 

 of the bank. 



Gas and Electric Company Report. 



The Gas & Electric Company of Havana 

 has issued a report for the first six months 

 of 1909 as compared with the same period 

 in 1908, as follows: 



Receipts. Expenses. Differences. 

 1909... $945,403.15 $402,671.39 $542,731.76 

 1908... 855,739.37 390,807.34 464,932.03 



