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In Cuba a certain flagging and reserve have been noticeable in business, 

 notwithstanding the ample revenues which flowed into the island in the 

 year 1909, and despite, the fact that last season the sugar crop again 

 promised to be an exceedingly good one. The sole ground for the at- 

 titude of reserve adopted by the capitalists is to be sought in the political 

 situation. No firm confidence in the existing government is to be looked 

 for, and the discontent of the people manifests itself by many signs. In 

 spite of ample revenues the finances are in a thoroughly bad state, and 

 one turn after another is given to the screw of taxation, to the intense 

 annoyance of the merchants and manufacturers who had hoped, and have 

 often but vainly asked, that attention should be paid to their interests; 

 instead of which for their only answer they are met with addifions to the 

 detested taxation and fresh fiscal exactions. As an example the experience 

 of the soap industry may be cited. This industry had long endeavoured 

 by all legitimate means to obtain an increase in the customs duties on 

 toilet soaps which would level up the tariff on those goods to that exist- 

 ing in the United States, but its petition to this effect, although submitted 

 for consideration to the legislature by President Gomez himself, was not 

 even thought worthy of discussion, but was simply allowed to lie on the 

 table. The interests of the numerous large and small manufacturers of 

 toilet waters have also been seriously injured by the tax on the alcohol 

 used in their industry being raised to precisely the same figure as that 

 payable on alcohol for liqueur-making. 



Business in Mexico may be described as normal. It is true that the 

 cotton-crop in the north has been poor, but by far the most important 

 crop, maize, was a tolerably good one. Politically also, the normal 

 equilibrium was maintained by the re-election as president of Sr. Porfirio Diaz, 

 now a man of very advanced age. The Centenary celebrations in September 

 last brought a large influx of foreign visitors, and had the effect of greatly 

 stimulating many branches of trade. Mexico stands to benefit directly in 

 the first place from the increasing tourist-traffic, because the actual con- 

 ditions which prevail in the country (a country thoroughly deserving of 

 confidence and with a great future) are placed in a very different light by 

 personal observation than by hearsay, with the result that many new 

 investments will be made in the Republic. The power of attraction of 

 Mexico will be further increased by the opening of the recently-discovered 

 mines in the State of Guerrero, which will secure for the country a place 

 among the gold-producing nations. It is to be regretted that the revolutionary 

 movement, the existence of which has been evident for a considerable 

 time, should lately have assumed serious proportions, for although the 

 reports in the newspapers are in many cases exaggerated, there is no 

 room for doubt that if by any chance the government of the veteran 

 President Diaz should be overthrown, consequences might ensue which 

 must lead to intervention by the United States. The position is grave 



