THE CUBA REVIEW 



MAKING CUBA'S NEW COINAGE. 



The Philadelphia Record has an interesting article on the manufacture of the Cuban coins 

 now in progress at the Philadelphia Mint, which is in part as follows: 



Gokl silver and nickel money has just been rolling out of the Philadelphia Mint in kegs 

 during the past six months to be carried off for shipment to Cuba. The coins have l)een leaving 

 the local money.making establishment at the rate of $400,000 worth a week. (il^l^ a^M 



For the first time in its history, Cuba has money that is strictly her own. Before the war 

 Spanish gold, silver and copper money, French gold, especially the Louis or 20-franc piece, and 

 American money of all kinds circulated. Since American money has been the official currency 

 all public dues being payable in Uncle Sam's coins and notes. Under the act of Congress 

 designating the new Cuban system the American money is declared to be still legal tender. 

 There is about $40,000,000 in United States money in circulation in Cuba, and to replace it 

 with Cuban Ciish would be too great a financial undertaking at the present time. With the new 

 coins so far in circulation about 20% of the transactions of the island are in the native money, 

 the United States currency being employed to the extent of the 80%. 



Ever since the coinage of the Cuban pieces was started the work has been looked after for 

 the Republic by Eduardo I. Montoulieu, sent here as a special commissioner. Only 31 years 

 old, the commissioner is one of the bright men of the island who are largely identified with its 

 ui)building. He is deputy chief engineer of sewer and paving work in the Department of 

 Public Works at Havana, and is connected with the Bureau of Metallurgy of that department. 

 Mr. Montoulieu is a graduate of Harvard; in fact he was the youngest graduate in engineering 

 up to the time he left college, he being 20 years old then. A most interesting story about how 

 Cuba came to adopt a new money sj^stem was told by him. 



"While the American money was used as legal tender there was so much Spanish and' 

 French currency, especially gold, employed in paying house rents and other private bills that, 

 exchanging of money was made a constant necessity," said Commissioner Montoulieu. "In 

 Havana the exchanges are as numerous on street corners as drug stores in the United States. 

 One never knew under the old way how much money he reahy had in his pocket, as his capital 

 depended on the rates charged by the exchangers. An American dollar has been worth as; 

 much as $1.40 in Spanish money. At present the price is $1.01 . The rate has been going upj 

 and down between those amounts. 



