THE CUBA REVIEW 



in the form of dollars in the island is con- 

 sidered negligible, while American frac- 

 tional silver is reported to be in circulation 

 to the extent of approximately $100,000. 



Recently there has been some discussion 

 as to whether nickel coins in circulation 

 in Cuba are in excess of the requirements 

 of business. These coins are in great part 

 Cuban. In 1919, $300,000 in 10-cent 

 pieces and $200,000 in 5-cent pieces were 

 imported from the United States, and in 

 the latter part of 1920 another importa- 

 tion of 5-cent pieces amounting to $150,- 

 000 was made. At the present time it is 

 considered by treasury officials that $300,- 

 000 is a high estimate for the amount of 

 United States nickel and bronze coins in 

 Cuba. 



At the date of the latest coinage of 

 Cuban money (1921) the total amount of 

 Cuban nickel pieces, including 5-cent, 2- 

 cent, and 1-cent pieces, which had been 

 coined was $1,449,560. Recent reports 

 show that of this amount $570,164 is held 

 in the treasury and in the banks. This 

 leaves a remainder of $879,396 as the 

 amount of Cuban nickel coins in circula- 

 tion. If to this is added the estimated 

 amount of American nickel and bronze 

 pieces in Cuban circulation, a total of 

 $1,179,396 is arrived at, which is consid- 

 ered by treasury officials to be a satisfac- 

 tory estimate of the quantity of this class 

 of coins now in actual circulation in Cuba. 

 It is maintained that this sum, which is 

 at the rate of $0.41 per capita, is not in 

 excess of Cuban needs. 



However, owing to difficulty in securing 

 proper distribution of small coins, reports 

 have been made of a surplus of this class 

 of money, especially in the city of Habana. 

 The Union of Tobacco Manufacturers has 

 appealed to the treasury department for 

 permission to exchange the nickel small 

 coins, which are received in large quanti- 

 ties by the cigar stands, for the Govern- 

 ment stamps required in the sale of cigars 

 and cigarettes. The treasury department 

 in reply maintains that there is no surplus 

 of small coins requiring special action. 



From the interior of the island requests 

 have come for increased supplies of frac- 

 tional coins to meet the demands of the 

 laborers in the sugar harvesting. As the 

 Government has no appropriation for trans- 



porting coins to the interior to meet local 

 demands, it has not been able to comply 

 with requests to make monthly shipments 

 of small coins to sugar mills. Until re- 

 cently the supply of fractional coins in 

 the interior has tended to flow steadily 

 to Habana because of administrative meth- 

 ods whereby remittances of sums received 

 by the Government for taxes, customs, etc., 

 were made by shipping to Habana the 

 actual money received by local collectors. 

 This flow of small coins to Habana has 

 been checked by a decree dated February 

 16, 1923, by virtue of which governmental 

 collections may be deposited in local 

 branches of the Habana banks and remit- 

 tances made by means of drafts. 



The Cuban treasurer general has issued 

 a statement suggesting that American frac- 

 tional money be segregated with a view 

 to arranging for its exchange for other 

 money with the United States Treasury. 

 He favors the prohibition of the importa- 

 tion of American silver, nickel, or bronze 

 coins by persons entering Cuba in excess of 

 $5 for each person. In order to force the 

 use of Cuban silver, he advocates prohibit- 

 ing the importation of American $1 bills. — 

 Assistant Trade Commissioner C. A. Liv- 

 engood, Habana. 



Customs Regulations 



A decree has been issued by the Presi- 

 dent of Cuba, "and published in the Gaceta 

 Official of March 24, 1923, which has for 

 its purpose the exemption of importers 

 from the payment of duty on missing por- 

 tions of importations made during the 

 period of port congestion. The decree pro- 

 vides that where, by means of examina- 

 tions made by customs appraisers, a short- 

 age of packages or of contents is noted as 

 compared with the notations on the cover- 

 ing invoices, the collector may accept the 

 declaration of the interested party for the 

 purpose of waiving the duty charges on 

 such missing portions, provided it is shown • 

 that the importation concerned was made 

 after September, 1918, and that the de- 

 ficiency of packages or contents occurred; 

 prior to April 30, 1921. Each claim is to 

 be decided by the Collector of Customs 

 on its individual merits. 



