10 THE CUBA REVIEW 
in this direction. The age old rule of supply and demand plays a large part in a 
controversy of this kind and as long as the facilities of this port, and indeed the 
rest of the ports on the Island, are overworked as they are at the present, little 
improvement tending toward a reduction of freight rates may be looked for. Dock 
labor today is not efficient. However, being well organized and with more work 
offering than can possibly be accomplished, labor’s position is unique in Cuba. On 
the other hand, the building trades and other industries find a surplus of labor at 
this time owing to the great numbers thrown out of work by the financial crisis that 
has been eminent for the past three months, and wages have been successfully 
reduced and the efficiency augmented. 
CUBAN FINANCIAL SITUATION: Although President Menocal extended the mora- 
torium last month until the 31st of December, little improvement has been noted 
in conditions prevailing in Cuba. With a continually falling market and Cuba’s 
evident inability to work out means for the floating of a loan either for the banks 
or for the coming sugar crop, the Island seems te be facing the necessity of a liquida- 
tion that will tax the resources of Cuba to the utmost. 
A finanncial adviser to the present administration was called from the United 
States and Mr. Arthur Rathbone, New York banker, was sent by the Washington 
Government for the purpose of working out some solution of the trying situation, 
but to date it would seem that the question is one that will have to be studied out 
and this capable financier has not yet had time to devise ways and means for tiding 
over the crisis that would seem to be looming on the horizon. In one or two state 
ments issued by Mr. Rathbone the text has been devoted to retrenchment and more 
attention to saving in every way possible. 
However. to us it would seem that what was deemed the impossible six months 
ago is about to happen: the closing of the doors of several banks thai have not been 
able to readjust or better their position during the eighty days of the moratorium. 
Business of all kinds is completely in the dark as to what the future holds forth 
and the consequence is that very little or practically no business is being done 
except that on a cash basis. 
