14 



THE CUBA REVIEW 



GENERAL COMMENT ON CUBAN AFFAIRS 



RECENT IMPRESSIONS ABOUT CUBA 



Sidney Brooks in a letter to the editor of 

 El Camagncyana, Camaguey, Cuba, gives 

 his impressions of Cuba, her President and 

 her problems. He says: 



"The feeling in the United States and 

 in England is that General Menocals eleva- 

 tion to the presidency marks a very whole- 

 some development in the character of Cu- 

 ban public life ; that the republic has com- 

 mitted its fortunes to the care of one who 

 is far removed from the ordinary type of 

 politician and who stands before the world 

 as the best representative, both of Cuban 

 life and business interests ; and that it will 

 seriously reflect on the judgment and good 

 sense of the Cuban people and on their 

 aptitude for self-government, if they fail 

 to give him the backing he deserves. 



"Like all men who are really worth 

 knowing, the President is not an easy man 

 to know, and I should be the last to pre- 

 tend that I have taken his real height and 

 breadth at a couple of meetings. But 

 there are some attributes of his that no 

 one can miss. He is obviously a man 

 with a very keen sense of honor ; he is 

 honest both in his instincts and his 

 thoughts, and no one can doubt that his 

 desire to do the right thing, to be just, and 

 to promote the permanent welfare of Cuba, 

 might fitly be called a passion." 



'Mr. Brooks noticed also a cleaner at- 

 mosphere and a better class of men in the 

 administrative departments than at any 

 previous time. The men forming the staff 

 of the president struck him as l^eing "the 

 most alert and capable men animated by 

 but one ambition — that of turning their of- 

 fices to the best public use." 



He says further that "Cuba's prosperity, 

 resting on a natural basis, can never be 

 destroyed or seriously retarded by any ac- 

 cident" of politics. It is bound to go on 

 increasing and increasing from year to 

 year. Nothing whatever can hold it back. 

 But at the same time Cuba has many proli- 

 lems that a wise statemanship would seek 

 to solve betimes. Are you not being 

 tempted to rely too much on sugar, tobacco 

 and cattle? Are there no openings for a 

 greater diversification of industries and 

 employments subsidiary to agriculture ? 

 What are you doing to increase the primal 

 source of all wealth — population? Are 

 you attracting immigrants of the right sort 

 —men and women, I mean, who will settle 

 here and become naturalized, and, by their 

 labor, add to the prosperity of the island? 

 Is your system. o.f^ taxation the one best 

 calculated to further development of the 

 land?. What measures are under contem- 



l)lation for keeping the people on the soil 

 in a state of comfort and independence and 

 for discouraging the drift to the towns? 

 What about the lottery? What about the 

 tariff? What about the state of education? 

 Undoubtedly for all her wealth and her 

 inexhaustible resources and her happy 

 climate and geographical position, Cuba has 

 many difiic'ult questions ahead of her." 



CUBAN PORTS COMPANY 



(Mancliestcr Guardian, England) 



There does not appear to be any definite 

 information that the Cuban government 

 will settle with the Cuban Ports Company, 

 Init the Stock Exchange considers the 

 prospect better and is acting accordingly, 

 as it always does in such circumstances. 

 It will be remembered that the President of 

 Cuba cancelled the company's concession, 

 for reasons which were characterized 

 more b}' technicality than justice, and that 

 the company's shares and bonds fell heavily 

 in consequence. It was not to be supposed 

 that this would be acquiesced in quietly, 

 and some pressure has probably been put 

 upon the President, who will have learned 

 by this time that Cuba would be likely to 

 receive a shock when next she wanted 

 foreign money if she behaved wantonly to 

 those who had supplied her needs in the 

 past. About a year ago the Cuban Ports 

 Company's first mortgage bonds, which 

 bore 5 per cent interest, were quoted 98^^, 

 b'ut at the end of October they brought 

 only 69 or so, while the ordinary shares 

 changed hands at 16 or 17. Latterly, how- 

 ever, there has been a good deal of specu- 

 lative buying, with the result that the ordi- 

 nary shares advanced 7, to 39, while the 

 first mortgage got up to 90 and closed S8^/4. 



Another English publication has this to 

 say : 



In any event, hov.ever. the claim of the 

 bondholders who subscribed in all good 

 faith to liberal treatment is beyond dis- 

 pute, and it will be an exceedingly bad 

 thing for the credit of Cuba if this is not 

 recognized. — Financial Times. 



The Investors' Chronicle of London says 

 that the Cuban government's quarrel with 

 the Ports Company will probably be settled 

 shortly, the former wishing to take over the 

 concern and re-acquiring the foreshore 

 rights. The arrangement will proba'dy in- 

 clude the exchange of government bonds at 

 par for the bonds,- whilst the common stock 

 will be paid? out at about 50. The Cuban 

 authorities never wished to expropriate the 

 bori^bolders; ' Their cause of complaint 

 :seem^- to have been against the promoters. 



