Cuban Investments 



gold specie on reserve in this country. To one 

 who appreciates the immense credit power made 

 available by such a vast sum of the precious 

 metal, the condition becomes enormous. It is 

 almost impossible to calculate the amount of 

 credit that can be built up on this sum of gold 

 held in our vaults. 



Since the report of January 31, 191 5, this 

 reserve has been constantly increasing, and the 

 credit of the country increasing proportionately, 

 with the result that today loans are far easier 

 in all banks and the borrowers with established 

 credit and proper securities find lower rates of 

 interest and easier accommodations than have 

 existed during the past twenty years. 



The following table illustrates the gold specie 

 reserve of this country for the past ten years: 



1906 ?i, 587,000,000 



1907 1,605,000,000 



1908 1,653,000,000 



1909 1,638,000,000 



1910 1,709,000,000 



191 1 1,797,000,000 



1912 1,878,000,000 



1913 1,924,000,000 



1914 1,815,000,000 



1915 2,312,000,000 



Generally speaking there are three classes of 

 investment securities available in the United 

 States at this time. These may be named as 

 follows : 



1st, Investments based on securities created 

 by reason of the European struggle and including 

 war loans to belligerent governments, and in- 

 dustrial investments comm.only known as "War 

 Brides." 



