THE CUBA REVIEW. 



FINANCIAL. 



Currency and Banking in Cuba. 



Cuba has in active use Spanish and 

 French gold, United States currency and 

 Spanish silver, each circulating m its 

 well defined sphere, although the use 

 of American money is extending con- 

 stantly, says American Industries. 



The commercial money of the country 

 is Spanish gold supplemented by French 

 gold, except in Santiago province, where 

 United States currency was introduced 

 by military order during the first Amer- 

 ican occupation, and where all other 

 moneys have practically ceased to cir- 

 culate. 



The official money is United States 

 currency, whether gold, silver or paper, 

 established by the American government, 

 in which the Cuban Government collects 

 all incomes and makes all disbursements 

 for its expenses by check on the National 

 Bank of Cuba. 



The fractional currency is Spanish sil- 

 ver, and is in use in the markets, small 

 shops and for wages of labor generally. 

 The value of each money is subject to 

 constant fluctuation, dependent upon the 

 demands for exchange and for the dif- 

 ferent moneys at the different seasons 

 of the year. 



Some of the larger customers carry in 

 the bank three accounts, against which 

 they draw in different moneys, and the 

 banker must have in mind at the close 

 of each day the proper reserve — not in 

 the total sum, but in each money, vary- 

 ing according to the demands of the sea- 

 son. 



In regard to credits and collections in 

 Cuba, the facilities are as complete and 

 satisfactory as in any city of the Union. 

 Dun's Commercial Ao'ency covers the 

 entire West Indies, and Bradstreet's has 

 an agency in Havana. Information is 

 quite as definite and satisfactory as that 

 to be obtained in any American city. 

 The principal mercantile houses of Cuba 

 have gone through the series of Cuban 

 revolutions, and their stability under 

 these trving circumstances has given 

 them credit throughout the world for un- 

 usually high commercial strength and in- 

 tegrity. 



Bank of Spain in Havana. 



The Bank of Spain was organized in 

 Spanish times, and the Spanish govern- 

 ment transacted its business through it. 

 Its nominal capital is $8,ooo.ooO' Spanish 

 gold, equivalent approximately to $7,- 

 200,000 United States currency, but it 

 carries in .its assets $3,ooo-,ooo of its own 

 stock. _ The last statement showed its 

 deposits to be in round numbers $5,- 

 ,000,000' Spanish gold, equivalent to $4,- 



EDMUND G. VAUGHAN. 

 President National Bank of Cuba. 



500,000 United States currency approxi- 

 mately. It formerly had branches 

 throughout the island, but now has only 

 its bank in Havana. 



Havana Central Bonds. 



It is understood that the directors of 

 the Havana Central Railroad contem- 

 plate using the $3,500,000 new bonds, 

 which the stockholders are asked to au- 

 thorize at a special meeting on June 15, 

 as collateral to secure an issue of three- 

 year 6% sterling notes to an amount not 

 to exceed $2,575,000. — Wall Street 

 Journal. 



Cuba Railroad Bonds. 



The Cuba Railroad 5% bonds, which 

 were quoted nominally at 801 in January, 

 sold April 24 in New York at 91. The 

 issue amounts to $7,843,000, which makes 

 a bonded indebtedness of about $20,000 

 a mile. 



