THE CUBA RE V I E TV 



31 



The Sugar Industry 



Cuban Sugar Finance Committee 



The President of the RepubUc signed the 

 following decree December 21st: 



Whereas: It was stated in Decree No. 155 

 of February 11, 1921, that a large number of 

 planters and colonos had expressed to the 

 Chief Executive fears regarding probable 

 losses in sugar production, and recommended 

 among other measures the organization of a 

 committee of producers of sugar and also 

 bankers, who would take in their charge the 

 sale and shipment of the 1920-21 crop. 



Whereas: Taking heed of those state- 

 ments and furthermore considering that, to 

 assist the legislation already in force, the 

 exportation of our product had been regu- 

 lated, the President of the Republic dictated 

 the said Decree, creating the Sugar Finance 

 Committee and placing in its charge opera- 

 tions involved in the sale and shipment of the 

 sugar production of the 1920-21 crop, dis- 

 tributing the sales and the price pro rata 

 among the holders of sugar. 



Whereas: The aforesaid Decree would 

 not be effective until the Secretary of Com- 

 merce, Agriculture and Labor should have 

 received the approval of owners of mills 

 working sugar, representing not less than 

 75% of the production of the 1919-20 crop, 

 which percentage was obtained, so that the 

 Decree was made effective, by resolution of 

 the said Secretary, on the 22d of February, 

 1921. 



Whereas : By another Presidential Decree, 

 No. 196 of February 23, 1921, Messrs. 

 Ernesto A. Longa and Carlos C. Duffau were 

 designated to form a committee which should 

 function in accordance with the Sugar 

 Finance Committee as regards shipments of 

 this product, the previous decree of the 12th 

 of the same month, naming both those 

 gentlemen Secretaries of the Committee, 

 being revoked. 



Whereas: By Presidential Decree No. 246 

 of March 2, 1921, it was directed that the 

 Sugar Finance Committee, having the 

 approval of not less than 75% of the holders 

 of sugar of the 1919-20 crop, should undertake 

 to sell that sugar, the average established in 

 Decree No. 155 being observed, but these 

 sales being considered separately from those 

 of sugars of the 1920-21 crop as regards their 

 shipment and payment. 



Whereas : Considering it proper to support 

 the functioning of the Sugar Finance Com- 

 mittee, giving greater activity to its operations 

 and making amends for the omission of a 

 representation of colonos, I dictated Decree 

 No. 1848 of September 28th of the present 

 year, increasing the number of Commissioners 

 and filling vacancies which had been made. 



Whereas: The Sugar Finance Committee, 

 in session held on the 16th of the present 

 month, adopted, among other resolutions, 

 one to solicit of the President of the Republic, 



for reasons which were stated, the derogation 

 at an early date of Decree No. 155 of February 

 11, 1921, as regards the sale and placing of 

 sugars of the 1920-21 crop, and leaving it in 

 force only for matters connected with the 

 liquidation of operations undertaken by the 

 Committee; also the derogation of Decree 

 No. 246 of March 2, 1921, relative to the sale 

 of the remainder of the crop of 1919-20; and 

 it also agreed to thank the President of the 

 Republic for the decided support which he 

 had given it and for the valuable advice with 

 which he had favored the Committee and 

 which had contributed effectively to its 

 difficult work. 



Whereas: I regard as well founded the 

 considerations upon which the Committee 

 bases its resolutions and which are consistent 

 with the judgment of the National Executive 

 Authority, which takes pleasure in recogniz- 

 ing and applauding the good desire and laud- 

 able efforts of the Committee in protecting 

 the national sugar interests. 



Having heard the Secretary of Agriculture, 

 Commerce and Labor, and using the powers 

 which are delegated to me by the Constitution 

 and the Law, 



I Resolve : 



First: Beginning the first of January, 1922, 

 the Sugar Finance Committee, which was 

 created by Decree No. 155 and enlarged by 

 Decrees Nos. 196 and 1848 of 1921, shall 

 cease to exercise the powers which were 

 delegated to it by the said Decrees Nos. 155 

 and 246 of 1921 for the sale and shipment of 

 sugars of the 1919-20 and the 1920-21 crops, 

 with the exception of sugars afloat in foreign 

 ports or already contracted for and awaiting; 

 shipment. 



Second: From the aforesaid date, the 

 owners or holders of sugar left over from the 

 said crops may dispose of same freely, 

 registering any sale they may make, and 

 contracts they may enter for its sale to 

 refiners in the form prescribed by article 5 of 

 Decree No. 155 of February 11, 1921, and 

 notifying the Sugar Finance Committee. 



Third: The Sugar Finance Committee 

 will continue to operate until all transactions 

 made by them have been liquidated and 

 accounts closed, and shall proceed to render 

 to this Presidency through the Secretary of 

 Agriculture, Commerce and Labor, a de- 

 tailed and verified account of its operations, 

 expenses incurred, and incomes from every 

 source. 



Fourth: With the least possible delay the 

 Committee shall establish the price average 

 for sugars which have been at its disposal 

 and shall make application of the correspond- 

 ing amount which it has retained for this 

 purpose and which is in its possession, first 

 presenting for the approval of the Executive 

 Authority the plan of procedure for the dis- 

 tribution of the said amount. 



