GARDEN 



rpxTp 



CUBA REVIEW 



'ALL ABOUT CUBA' 



Copyright, 19Z2, by the Munsoti Steamship Line 



Volume XXI 



DECEMBER, 1922 



Number 1 



Cuban Government Matters 



Status of the Loan 



In a formal statement issued November 

 4th by the State Department, the United 

 States Government gave its approval to 

 the proposed $50,000,000 loan to the Cuban 

 Government. The State Department's an- 

 nouncement follows: 



"On October 18th the Cuban Govern- 

 ment informed the department that it 

 desired to float a loan of $50,000,000, pay- 

 able in gold coin of the United States, in 

 pursuance of its program for the solution 

 of its economic difficulties. In view of 

 the stipulations of Article II. of the Perma- 

 nent Treaty of Relations between Cuba 

 and the United States of May 22, 1903, 

 the Cuban Government requested to be 

 informed whether the United States Gov- 

 ernment had any objection to make with 

 k^ regard to the creation of this additional 

 :i public debt. 



"The department has given careful con- 

 j^ sideration to the matter from the point 

 , ^ of view of its obligations under the treaty 

 _jj above referred to, and has today informed 

 '^ the Cuban Charge d Affaires that in view 

 of the statement of the Cuban Govern- 

 ment's finances presented by him, and in 

 the light of the information at its dis- 

 posal, it had no objection to offer to the 

 negotiation by the Cuban Government of 

 the loan described in the Cuban Charge 

 d'Affaires's note of October 18th." 



Arrangements for the loan will be worked 

 out in Havana between officials of the 

 Cuban Government and representatives of 

 the American bankers interested. Owing 

 to the fact that the American bankers 

 have been keeping in close touch with the 

 Cuban situation as it developed since the 

 beginning of the financial crisis there two 

 years ago, it is believed it will not take 

 long to complete the arrangements for the 

 loan. 



Secretary of the Treasury Despaigne re- 

 ports that there is no foreign competition 

 for the loan other than from American 

 bankers. Thus far only J. P. Morgan & 

 Company, Speyer & Company, Lee, Hig- 

 ginson & Company and Blair & Company 

 have been actively represented. 



Cuban Commission 



The Cuban Government, in a law effec- 

 tive September 15, provided for the crea- 

 tion of a commission, called "La Comision 

 de Examen y Calificacion de Adeudos del 

 Estado," which will examine and determine 

 the claims outstanding against the Cuban 

 Government. All such claims must be pre- 

 sented to the commission before March 15, 

 1923, as after that date the courts again 

 take control of them. 



