De CORB Am thee EW 13 
will be reached between the respective government representatives for the handling of this 
proposed loan. 
Until such time as the government is able to secure additional funds, whether it be 
in the form of a foreign loan or through an interior loan, business and industry will remain 
practically at a standstill. The agricultural interests, especially the sugar people, must 
have some government assistance if they are to be expected to continue to operate. The 
government itself is badly in need of additional funds as well and many of the employes 
in all branches of government service have not been paid for some time. 
It is believed that the chief obstacle in the way of securing the proposed loan from 
the United States Government is the belief that no loan will be made without a super- 
vision clause, giving the latter government some control over the manner in which the 
funds shall be expended. This proposition has met with disapproval from many sources 
here, chiefly from the politicians, who argue that it would be an infringement upon the 
rights of the republic to control its own government functions as it may see fit. There 
have been several unsubstantiated rumors to the effect that private banking interests in 
New York have the question of a loan issue under consideration, but it is not known 
whether there is anything stronger than rumor connected with this information. 
For the first time in the history of the island the balance of trade is against Cuba, 
and this condition is likely to continue until such time as trade is stimulated to a sufficient 
extent to again bring the importations back to normal. This stimulation can only be 
effected through increased confidence in the government and the ability of the people to 
buy more goods, and in order to ensure this result the government will have to provide 
some way to mect its obligations, both to its employes and the commercial interests to 
whom it is indebted. 
Slow progress is being made in the reconstruction work on the defunct banking 
institutions and as yet there are no signs of criminal action, although it would seem from 
the report of the findings of the examiners of these institutions that such action is essential 
if the people are expected to ever again place their confidence in institutions operating 
under such lax laws as are now existing and which permit such pernicious manipulation 
of their funds. Plans for the reorganization of the National Bank of Cuba are under way 
and it is thought this institution will soon reopen its doors. Four other banks, which 
closed during the moratorium period, have also asked permission of their creditors to be 
allowed to resume business and are awaiting the approval of creditors before taking such 
action, all of them having secured new capital with which to resume operation. 
Lagpor: A recent strike on the part of the street-cleaners’ union for payment of 
back wages caused considerable annoyance and protest. Garbage remained uncollected 
upon the streets for several days and the Department of Public Works finally hired new 
men to do the work. 
It is reported that the British Government has demanded that the Cuban Govern- 
ment stand responsible for the non-payment of wages to the Jamaican laborers engaged in 
working in the cane fields, who had been given “‘vales” by the planters in the place of 
money, many of these ‘‘vales”’ having little, if any, value. 
As a result of a sympathetic strike caused by the action taken by Armour & Co. in 
reducing the wages of their drivers to pre-war basis, the freight handlers of the Havana 
Central Railroad went out on strike. It is thought that prompt action on the part of the 
officials of that road in replacing these men with others, whom it is claimed do much 
better and more efficient work than the union employes formerly engaged, will cause the 
strike to be ineffective. 
The obstinate stand taken by the various unions in their desperate attempt to keep 
wages at the maximum while at the same time complaining about the high cost of living 
is most inconsistent, and it is only a question of a short time when it is believed they will 
be forced to accept a lower wage scale in harmony with the new conditions or be replaced 
by men of non-union tendencies. 
PresIDENT Buys ANoTHER Farm: President Zayas has gone to the country as a 
means of finding rest from the cares and responsibilities of the executive office, and has 
