THL 

 CUBA RLVILW 



"ALL ABOUT CUBA" 



Copyright, 1917, by the Munson Steamship Line 



Volume XV 



JUNE, 1917 



Number 7 



CUBAN GOVERNMENT MATTERS 



Ganeral Emilio Xufr-z, Vice-President of Cuba. 

 INAUGURATION 



On the 20th of May, General Mario Gar- 

 cia Menocal took the oath of office to the 

 Presidency of Cuba for another term of four 

 years. The ceremony took place in the Presi- 

 dential Palace at noon and was a very simple 

 one. 



General Emilio Xuiiez assumed the office 

 of Vice-President of the Repubhc of Cuba. 



BONDS AUTHORIZED 



President Menocal has signed a decree auth- 

 orizing issuance of $30,000,000 of Governm.ent 

 bonds for a war loan, in line with, his recom,- 

 m.endation to Congress last month. His recom- 

 mendation has been before Congress, but be- 

 cause of the delay occasioned by a divergence 

 of opinion and in view of the urgent necessity 

 of funds for war purposes, the President took 

 matters into his own hands, utilizing the 

 authority granted to him. in the joint resolu- 

 tion adopted by Congress last month to avail 

 himself of all the material resources of the 

 nation. 



The bonds will be issued in three sections', 

 the first in the fiscal year beginning July 1 and 

 the second and third in the two succeeding 

 fiscal years. They will bear interest of not 

 m.ore than 6 per cent, and their amortization 

 will begin at the conclusion of the war. 



The decree also provides for several revenue 

 m.eas\ires. Among them is a normal tax of 

 10 cents on each bag of sugar weighing 325 

 pounds or more and. an extraordinary war 

 tax of 10 cents when the price of sugar, f . o. b. 

 Havana, is 3 cents a pound or m.ore. Sugar 

 companies operating in Cuba also will be taxed 

 6 per cent of net profits, which are to be de- 

 termined by adding the tax by weight to the 

 cost of production. 



Mining and insurance companies also will 

 be taxed, the former 6 per cent, of net profits 

 and the latter 4J^^ per cent of premiums. 



