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 . coins has made small transactions extremely think that the present stock of Spanish silver in theIsland exceeds the necessities; but however this may be inthe western part of the Island, it was evidently not the casein Santiago. Besides the silver, there is a bank-note circulation, but thathas no actual bearing on the question of currency, as thetrade and business of the Island has refused t
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 . coins has made small transactions extremely think that the present stock of Spanish silver in theIsland exceeds the necessities; but however this may be inthe western part of the Island, it was evidently not the casein Santiago. Besides the silver, there is a bank-note circulation, but thathas no actual bearing on the question of currency, as thetrade and business of the Island has refused to accept it,and the present quoted value is less than ten cents on thedollar. The greater part of this emission, which was a warissue made by the Spanish Government at Madrid throughthe Banco Espanol de la Is la de Cuba (not by that bank), islargely in the hands of speculators and government contract-ors. The only public application is for the payment in thecustom-house of the so-called ten per cent, ad valoremduty assessed on the official value of imported merchan-dise in addition to the regular specific rate of duty abolition of this duty, under the new tariff, ends the. Conditions which Confront Us 23 life of these bank bills. There still remains a question asto whether the Spanish Bank of Cuba was in any way re-sponsible for these bills, and the question will come up forfuture adjustment. The Bank will probably deny responsi-bility and refer those who hold this depreciated currency tothe Spanish Government at Madrid. It is an interestingfact in this connection that the credit of the Spanish Bankof Cuba is of a higher standard than the credit of the Span-ish Government, for the Bank has never failed to redeem itsown paper during nearly half a century of its existence, firstas the Bank of Spain of Havana and subsequently under itspresent name. It has at times suffered embarrassment, butultimately the bills of the Spanish Bank of the Island ofCuba have always been
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Keywords: ., bo, bookcentury1800, bookdecade1890, bookidindustrialcubabe00port
