CUBA REVIEW 



"ALL ABOUT CUBA" 



Copyright, 1921, by the Munson Steamship Line 



NEW 



Volume XX 



DECEMBER. 1921 



Number 1 



Cuban Government Matters 



Termination of Hostilities with Hungary 



Teiinination of the state of war with 

 Hungarj^ is provided in a joint resolution 

 adopted by the Cuban House of Represen- 

 tatives. When the measure is approved 

 by the Senate, Cuba will be at peace with 

 all nations. 



Economic Conditions in Cuba 



According to Philip S. Smith, Chief of 

 the Latin-American Division, U. S. De- 

 partment of Foreign and Domestic Com- 

 merce, a general survey of conditions in 

 Cuba for the last quarter of the year ended 

 Sept. 30, 1921, shows a slight change for 

 the better. There is considerable evidence 

 that satisfactorj^ readjustments are being 

 accomplished, and American business 

 should find encouragement in the earnest 

 efforts that are being made in the islands 

 to bring trade conditions back to normal. 



The last of the 1919-20 sugar crop was 

 disposed of, and reports show about 1,400,- 

 000 tons of the 1920-21 crop unsold at the 

 end of September. This represents ap- 

 proximately one-third of the entire yield. 

 Estimates of production for the 1922 crop 

 run from 2,250,000 to 3,000,000 tons, or 

 from 55 to 73% of this year's production. 



The Cuban Government has adopted a 

 policy of economy and is enlisting the co- 

 operation of all the commercial bodies of 

 the island. The presidential message to the 

 Cuban Legislature, which met in Septem- 

 ber, limits the work of the extraordinary 

 session to the following program : (1) Read- 

 justment of the budget; (2) legislation to 



assist agriculture, especially regulating the 

 extension of loans against future crops; 

 and (3) loans. 



As regards a general retail price adjust- 

 ment, the problem is made more difficult 

 because of the large overstocks held by the 

 majority of the Cuban merchants, who still 

 owe for the goods and cannot sell at a 

 greath^ reduced price. 



Manj^ of the sugar centrals have experi- 

 enced embarrassment in meeting their obli- 

 gations and have been sold at auction, but 

 one financial institution holding large loans 

 on sugar properties has met the situation 

 by forming a subsidiary corporation to 

 take over the mills for operating until such 

 time as the market offers a return on the 

 investments. 



Cuban Mission to England 



Early in November a Cuban ^Mission to 

 England, under General Mario Menocal. 

 ex-president of Cuba, returned the visit of 

 Sir Maurice de Bunsen, under Secretary of 

 the British Foreign Office, to Cuba m 1918. 

 A full program was arranged in honor of 

 the members of the Mission, including a 

 visit to Windsor Castle and a banquet 

 given by his Majesty's government. 



Other members of the Mission were: 

 General Velaz, Envoy Extraordinary; Dr. 

 Ortez, Cuban Minister to Paris; Colonel 

 Pujol, of the Cuban army; Senor Baro, 

 of the Cuban Foreign Office, who holds 

 the rank of Introducer of Ambassadors; 

 and Senor Ximeno, Commercial Attache 

 in London and Paris. 



