10 THE CUBA REVIEW 



Havana Correspondence 



February 21, 1923. 



FiNANXiAL Situation : Now that the $50,000,000 loan which was the subject of 

 extended discussion for more than a year has finally been consummated, and the first 

 installment received, it is felt that the uncertain conditions which have prevailed for 

 so long a time will soon begin to clear up. In fact, a much healthier condition is already 

 noticeable. The Government employees who have been paid more or less irregularly 

 for the past couple of years are now receiving back salaries; construction work, pay- 

 ment for which is long overdue, is being paid for, and new work is being started; all 

 of which is bound to react upon the financial situation, especially so in the restoration 

 of confidence in the integrity and ability of the Government to meet its obligations. 



The money which will be placed in circulation as the result of the Government's 

 meeting its obligations, together with the firm prices which sugar is bringing, should again 

 place the country on a firm financial basis, and that within a reasonably short period 

 of time. Already there is an appreciable growth in general commercial lines which 

 may be expected to increase steadily. 



It is regrettable that so long a time is being taken by the Temporary Bank Liquida- 

 tion Commission in making some report upon their findings as the result of their 

 investigation into the affairs of the several defunct banks. Sr. Sebastian Repilado of 

 this Commission recently returned to Havana from a tour of the Island, in connection 

 with the investigation of the Commission into the affairs of the branches of the institu- 

 tions in question, and numerous local institutions throughout the Island which were 

 forced to suspend payment. The report submitted by Mr. Repilado on the condition 

 of the majority of the banks visited is not very encouraging. 



Revenue receipts for the past year showed a satisfactory increase over those of 

 the previous year, and it may be expected that 1923 will continue to show constant 

 increases in revenues. For the period incorporated in the report of revenues issued for 

 the first half of the fiscal year of 1922 (from July to December) the total receipts 

 amounted to $29,171,397, an increase of $927,597 over those for the corresponding 

 period of the previous year. 



Red Cross Ball Attracts Brilliant Throng: The Red Cross Ball held at the 

 beautiful new Hotel Almendares on the evening of February 10th proved to be one of 

 the most brilliant social functions ever held in Havana. It was attended by social leaders 

 of all nationalities. Three orchestras alternated in furnishing the music, and several 

 surprise novelties were furnished by actors recruited from the leading theatres of 

 Havana. 



Canadians No Longer Required to Have Passports: According to a statement 

 issued by the United States Department of Immigration, citizens of Canada will no 

 longer be required to present passports when entering the United States from Cuba. 



Tag Day in Honor of Noted Cuban Author: February 16th was observed as 

 Tag Day for the purpose of raising funds with which to purchase a gold crown for 

 Dr. Raimundo Cabrera, the noted Cuban writer. Dr. Cabrera is the author of "Passing 

 Shadows," a novel of historical interest, which had a very wide sale. The results 

 obtained from the sale of tags was very gratifying. These tags were sold on the streets 

 by a bevy of Havana's prettiest girls. 



Twenty-fifth Anniversary of Sinking of "Maine" Observed: With appro- 

 priate ceremonies held on the site where the monument in commemoration of the sinking 

 of the "Maine" is soon to be erected, many prominent Cubans, Americans and English- 

 men gathered to pay homage to the memory of the brave men who perished on the fatal 

 battleship. Among those present were Secretary of Justice Regueiferos in representa- 

 tion of the President of the Republic, Secretary of State Carlos M. de Cespedes, Secre- 

 tary of Sanitation Artistides Agramonte, who was orator of the day, Secretary of Agri- 

 culture Betancourt, Commander Coello of the Cuban Navy, Capt. Walter Fletcher 



