THE CUBA R E \' I E W 



21 



FINANCIAL AND COMMERCIAL 



CUBA S TRADE WITH GLASGOW, BIRMINGHAM, HAMBURG AND NOTTING- 

 HAM ADDRESS OF MR. MORALES 



CUBAN BANKING METHODS 



From an address at Guantanamo, Sep- 

 tember 7th, by William H. Morales, secre- 

 tary of the Xational Bank of Cuba : 



Attention has oftentimes been drawn to 

 the fact that in Cuba there are no mone- 

 tary panics such as occasionally occur in 

 larger countries. In 1907, for example, 

 when the great financial centers of the 

 world were shaken by the acute crisis of 

 that year, this country sent abroad $14.- 

 67.5.000 in cash, as shown bj- the official 

 statistics. The reason of this remarkable 

 condition may be found in the fact that in 

 Cuba the movement of money and credit 

 is rendered safe and rapid by means of a 

 central banking institution with local rami- 

 fications and strong connections abroad. 

 which supplies funds according to varying 

 needs. The business elements here possess 

 moreover a feeling of uniform confidence 

 in the financial men and institutions of the 

 country. 



It is needless to go at length into statis- 

 tics in order to show the progress of Cu- 

 ban banking in recent years. As a result 

 of the increase of its capital from $1,000,000 

 to a capital and reserve of over $6,000,000, 

 the Xational Bank of Cuba has placed more 

 than $.38,000,000 of aggregate assets in cir- 

 culation within the island, as shown by its 

 Balance Sheet, as a guaranty to depositors 

 against all contingencies. The automatic 

 movement of this volume of assets through- 

 out the 27 commercial centres where the 

 bank has branches, is ample demonstration 

 of the beneficial influence of modern bank- 

 ing in Cuba. 



HAMBURG S TRADE WITH CUBA 



EXPORT.ATIOXS 



The importations of Hamburg from Cuba 

 during the five years ending with 1910 com- 

 pare as follows : 



1906 19.636.370 Marks 



1907 26,765,490 



1908 21, .514.330 



1909 24,636.610 " 



1910 28,092,920 " 



Total 120,664,720 Marks 



IMPORTATIONS 



1906 14,032,250 ^Marks 



1907 12,368,600 



190S 16.003,850 



1909 13.357,310 " 



1910 12,991,920 



Total 68,753,930 Marks 



Glasgow's trade with cuba 



Glasgow's exportations to Cuba in 1910 

 aggregated £370,587 in value. Machinery 

 leads in the exports followed by cotton 

 goods ; then comes codfish, beer, paint, 

 bricks, iron pipe, electrical goods, galva- 

 nized iron, pressed fruits, leather, confec- 

 tionary, whiskej% etc. 



BIRMINGHAM S TRADE WITH CUBA 



Birmingham's exportations to Cuba for 

 1909 and 1910 according to consular re- 

 ports were as follows : 



1910 1909 



ilS2,021.15 ill3,283.17 



Birmingham's exports to Cuba consisted 

 of hardware, furniture, saddlery goods, 

 writing paper, furniture, jewelry, paints 

 and oils, agricultural implements, chemi- 

 cals, gums, genreal machinery and per- 

 fumes. 



WESTERN RAILWAY OF HAVANA, LTD. 



Weeky receipts, 1912 : 



August 3d £5,548 



August 10th 6,329 



August 17th 5,943 



August 24th 5,818 



August 31st 6,742 



September 7th... 5,870 

 September 14th.. 5.535 

 September 21st.. 5,546 

 September 2Sth.. 4,763 



Increase. . £l4 

 Increase. . 638 

 Increase. . 346 

 Increase. . 213 

 Increase. . 1,734 

 Increase. . 54 

 Increase. . 655 

 Increase.. 1,028 

 Increase.. 248 



CUBAN CENTRAL RAILWAYS, LTD. 



Weekly receipts, 1912: 



NOTTINGHAM'S COTTON EXPORTS 



The official statistics of C. V. Reynolds, 

 the Cuban consul, show that Nottingham's 

 exports of cotton goods to Cuba for the 

 10 months of 1908, 1909 and 1910 were as 

 follows : 



1908 $.54,567,200 



1909 68.009,400 



1910 42,490.000 



