Industrial Cuba : being a study of present commercial and industrial conditions with suggestions as to the opportunities presented in the island for American capital, enterprise and labour . e following Spanish silver coins now incirculation in the Island of Cuba shall be received for customs,taxes, public and postal dues at the following fixed rates inAmerican money : The peso $ The medio-peso 30 The peseta 12 The real 06 The medio-real 03 Bronze and copper coins now current in the Island of Cuba will be received at their face value for fractional parts of a dollar in a single payment to
Industrial Cuba : being a study of present commercial and industrial conditions with suggestions as to the opportunities presented in the island for American capital, enterprise and labour . e following Spanish silver coins now incirculation in the Island of Cuba shall be received for customs,taxes, public and postal dues at the following fixed rates inAmerican money : The peso $ The medio-peso 30 The peseta 12 The real 06 The medio-real 03 Bronze and copper coins now current in the Island of Cuba will be received at their face value for fractional parts of a dollar in a single payment to an amount not exceeding 12 cents (1 peseta). William McKinley. In signing and promulgating the above order, the currencyquestion of Cuba has been settled for all time to come on asound basis. In offering to accept for the present the Cubanpeso or silver dollar for sixty cents, American money, theUnited States Government merely delays the migration ofthe coin to Spain. At this price it is profitable to ship themto Spain, but at fifty cents they would have disappeared sorapidly that a commercial disturbance might have followedon account of scarcity of silver dollars and fractional cur-. Banks and Currency 197 rency. It is not probable, nor is it asserted that this adjust-ment can be accomplished without hardship to some debtorsand a slight financial disturbance. It is not, however,apprehended that the trouble will be as great as some haveanticipated. In Santiago the first step to absolutely soundfinance was taken last summer and six per cent, of the in-flation squeezed out. The business interests in that part ofthe Island were opposed to a continuation of the ten percent, inflation, and merely asked of the United States Gov-ernment that the several gold coins in circulation should beleft at their face value. As one of the evils arising fromdisinflation, certain Cuban bankers put forward the factthat it will mean an increase of from four to ten per cent, inthe wages of labour, whi
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Keywords: ., bo, bookcentury1800, bookdecade1890, bookidindustrialcubabe00port
