THE CUBA REVIEW 



19 



hvo metals is oftentimes asked. It is believed 

 that the continuous demand for silver money 

 under the limited coinage thereof, together 

 with the avowed intention of the Govern- 

 ment to maintain a minimum gold cash re- 

 serve of thirty per cent, the first year, twenty- 

 five per cent, the second year, twenty per 

 cent, the third year, and fifteen per cent, 

 thereafter, as stipulated in the contract under 

 the award of bids to the National Bank of 

 Cuba, will amply serve to maintain the silver 

 coins at j^ar with gokl. A simple illustration 

 is the ruling demand for Spanish silver, which, 

 owing to its limited supply, has been quoted 

 above the gold par for more than ten months, 

 with no promise or undertaking of the Spanish 

 Government (which used a double standard 

 similar to that of the Latin Union) to redeem 

 the coin in gold. The decision of the Cuban 

 Government to limit the first issue of silver to 

 §13,000,000 is an evidence of its conservative 

 policy to determine the precise amount needed 

 to satisfy the requirements of the country. 



A further sign of the expected parity be- 

 tween the two coins is found in the recent 

 determination of the leading banks and bank- 

 ers of Cuba to accept the new silver at par 

 with national gold or Ignited States currency, 

 in all items and differences of less than five 

 dollars. 



With an adequate currencj' system, a large 

 sugar crop in prospect and all foreign mar- 

 kets open to Cuban products, the feeling of 

 optimism which prevails among the bankers 

 and business men of the Island seems to be 

 justified. — Bankers Journal. 



NORTH COAST RAILROAD 



Nuevitas-Caibarien 



The prospect of soon seeing construction 

 work begun on the North Coast Railroad is 

 practically assured. It is reported on good 

 authority that American capitalists have 

 taken over the majority of the P^rench inter- 

 ests on the North Coast Railroad proposition , 

 and that work will be commenced within a 

 short period, and be completed withia a year. 

 This, it is stated, is the intention of thisenter- 

 jH'ising group of capitalists. 



The railroad project has been before us for 

 the past five years, and it now seems that our 

 desires are to be realized. Several preliminary 

 surveys during this period were made along 



the coast between Caibarien and Nuevitas, 

 the latter place l>eing the seaport terminus. 

 Nuevitas has one of the finest harbors on the 

 north cf Cuba, and can accom nodate a large 

 shipping. Two surveys of this harbor were 

 made, one by the Cuban Central Railway Co., 

 and the other by interests connected with the 

 present undertaking. Air. J. C. Kelly, of La 

 Gloria, was in charge of the survey work for 

 the latter company. 



The most feasible location for the railroad 

 decks is at Bay No. 1, not far from the tannery 

 at that place, and the dock used by The La 

 Gloria Compania de Transportes. The point 

 from which the dock will probably project is 

 known as Punto Bufidero. At this point, a 

 short distance off shore, a thousand foot turn- 

 ing basin of a dejjth of thirty feet was located 

 with a depth jf channel to the sea of about 

 thirty feet. From this point around the penin- 

 sula to Nuevitas i>roper it is about ten niles. 

 With docking privileges at Bay No. 1, a saving 

 of that much distance of freight hauling will 

 be effected between La Gloria and her ship- 

 ping point Nuevitas. Over sea ships being 

 able to dock will also effect a saving in light- 

 erage, as is necessary at this time, and greatly 

 facilitate the handling of fruit — -obviating the 

 extra handling over lighters. 



Caibarien, the eastern terminus of the 

 North Coast Railroad, is located on a shallow 

 bay, and all cargo passing through this port 

 has to be lightered eighteen miles. At Sagua 

 la Grande and Cardenas, ports farther west, 

 lightering at a consideral)le distance is also re- 

 sorted to. The most feasible shipping point 

 for the products of northwest Camaguey and 

 Santa Clara Provinces is Nuevitas. The rail- 

 road will afford another outlet for this district 

 and traverse cne of the richest sections of 

 Cuba. Camaguey has been the most sparsely 

 settled cf any of the Provinces of Cuba. The 

 land has been held 1 1 large tracts undeveloped, 

 being practically in a virgin state. These 

 holdings have been gradually purchased by 

 business interests, and after removal of the 

 merchantable timber, will doubtless be 

 planted to cane. There are several sugar 

 centrals contemplated along the route of the 

 railroad, which, with the already large quanti- 

 ties of sugar produced in the section this road 

 can touch, will pifcrd a large tonnage of freight 

 at the start. There are also several large 

 deposits of a very fine grade of iron ore that 

 will be made available with the opening ol 

 the road.— L« Gloria, Cuban American. 



