THE CUBA REVIEW x\nd Bulletin. 



17 



BANKING METHODS IN CUBA. 



Under the tenure of Spain no eflfort 

 was made to afford the Cubans an op- 

 portunity to bank their savings, nor were 

 the usual channels, found in other coun- 

 tries for the distribution of money, given 

 attention, says United States Consul 

 Baehr of Cienfuegos. He calls attention 

 to the manv banking institutions now 

 in operation, the Royal Bank of Canada, 

 which has branches all over Cuba and 

 which has recently bought out the Banco 

 del Comercio business the Bank of Nova 

 Scotia, the Trust Company of Cuba and 

 the National Bank of Cuba. Of the lat- 

 ter he says : 



■'The bank has a savings department 

 which serves to bring money into circu- 

 lation, in addition to the bank's capital. 

 Local loans are made and used for the 

 development of business in each section. 

 The surplus of one section is transmitted 

 for loans in other sections where there 

 is a demand for money. This prevents 

 the money from bein^ concentrated in 

 Habana, and gives facilities for the de- 

 velopment of the several sections of the 

 island, instead of one particular section." 



Aside from the sightly structure now 

 nearing completion the bank purposes to 

 erect buildinsrs of uniform design in the 

 principal cities of the island. 



OUR TRADE WITH CUBA FOR I906. 



The following is a synopsis of the most 

 important items in the report of the 

 Bureau of Statistics of the Department of 

 Commerce and Labor issued January 26, 

 1907: 



IMPORTS. 



The imports decreased $10,000,000 be- 

 low 1905. The fall is attributed to a re- 

 duction in prices of sugar, of which the 

 quantity imnorted in IQ06 was greater 

 than in any earlier year. The import 

 figures for 1905 were $95,857,856, and for 

 1906 $85,055,295. 



Sugar importations for eleven months 

 •ending November, 1906, were 2,680,687,271 

 pounds, valued at $56,344,47.?. while for 

 the corresponding months of 1905 the im- 

 portations were 2,283,094,054 pounds, val- 

 ued at $69,573,899. 



Average price per pound in 1906, 

 2.I2C., and in 1905, 3.05c. 



Other importations for the same period 

 were as follows: 



Leaf tobacco $14,098,105 



Cigars and cigarettes 3.938,089 



Iron ore 2,1.15,284 



Bananas 1,202,979 



Molasses 625,289 



EXPORTS. 



Exports to the island have increased 

 two million dollars over 1905. They were 

 larger than any other year. 



Total value in 1906, $46,491,944, against 

 $44,569,812. In the year 1903, preceding 

 the beginning of the present reciprocity 

 treaty with Cuba, our exports were $23,- 

 504417- 



Our exportations show a greater num- 

 ber and variety, and are as follows: 

 ^Manufactures of iron Wheat Flour. 



and steel, Lumber, 



Lard, Boots and shoes. 



Bituminous coal, Cattle, 

 Cars and carriages, Vegetables, 

 Eggs, Instruments and ap- 



Cotton cloths, etc., paratus, 

 Electrical machinery. Hams, 

 Pork, Lard compounds, 



Bacon, Crude mineral oil. 



Refined mineral oil, Paper, 

 Hardware, Sewing machines. 



Locomotives, 



Forty-five and one-third per cent, of 

 Cuba's imports came from the United 

 States. 



Eighty-six and one-half per cent, of 

 Cuba's exports went to the United 

 States. 



The Publicity League purposes to work 

 for the increase of Cuban trade and busi- 

 ness generally. The president is Walter 

 Stanton, vice-president of the Havana 

 Bond & Trust Company; J. N. Lanuza, 

 first vice-president; Rafael Fernandez, sec- 

 ond vice-president ; W. A. Merchant, third 

 vice-president. The directors are H. Run- 

 ken, of Upman & Co. ; F. J. Sherman, 

 manager of the Royal Bank of Canada; 

 Robert Orr, manager of the United Rail- 

 ways ; R. Trufiin ; Frank Robins, and Blair 

 Robertson, manager of Bank of Nova 

 Scotia. All well known in business circles. 



A visit of inspection is planned by 

 Major Terrell, supervisor of the treasury 

 department, to all the custom houses on the 

 island. 



The United Commercial Club of Cuba 

 has issued its economic program, which 

 demands a reform in the liquor law and 

 a reduction of 30 per cent, of the contri- 

 bution for the Provisional Councils, and 

 establishment of American money as the 

 basis of transaction to' attract to the city 

 representatives of all taxpayers. 



Many complaints are being made against 

 the custom house for broken packages. A 

 plan for better protection of goods is under 

 discussion, as well as for warehouses where 

 goods will be better cared for. 



The American Club recently appointed a 

 committee on trade and commerce. Walter 

 Stanton, vice-president of the Havana Bond 

 and Trust Company, is chairman. 



Liquor manufacturers are protesting 

 against the internal revenue regulations, 

 and have decided to appeal to Governor 

 Magoon. 



