The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-12-30
CUBAN CUSTOMS DUTIES
American Money 81 Foreign Gold IS Esisb.
llshed ss The Basis
SPANISH AND FRENCH GOLD IS INFLATED
This will Protect Existinx Contracts.
Commissioner Porter Wants the
Money Dislnnated IL Possible.

/
Washington, December sa.--Aftcr a con.
ference today With Robert r. Porter, spec.
ial commissioner OF the United stntes ID
Cuba and Porto REQ. the president ap.
proved the following executive order
which has already been signed by secre-
tary Gage, in a measure regulating the
financial system OF Cuba:
Executive Mansion, Washington, Dcccm.
Dor 2S. 1895 lit is hereby cruerei that on
and after January !, 1894 ami uniil ether
wise provided, all customs. taxes, public
and postal Dues in the district oixCuta
shall be paid In United STATES money or in
foreign gold coin, such as the Spanish Al
phons nos (sentin) and the French louis.
which Nillsbe accepted In payment OF such
customs, taxes. public aud postal dues ait
the following rates.
Alphons.,os t25 peseta psecc), s4.Ss.
Louis co franc piccc); $3.50,
That al existing contracts for the pay
mens of Money shall be paid in money
ienominated In such contracts aud where
French and Spanish vohi shall be the stip-
ulattd money of payment they shall be re-
ce:yed in their present deerccd inflated
values.
II is further ordered that on and after
January |, 1899, and until further proyid-
In circulation in The island Of Cuba shall
be received for customs. taxes. public and
Postal dues at the following liked rates lii
Amer.can money.
The pcso, 5000, the medic peso. so 20 ;
Inc peseta. So,12 The read, s0.06; the mulio
real so. 03,
Bronze and COPPER col,is now current In
Cuba VIII be received at their face value
ICE fractional rarts OF a dollars In IA single
payment TO an amount not exceeding /.
cents Zone pesstal.
William Mckinley.
In the course of his report OF what the
presidents order is based Mr. Porter SAYS.
The real point at issue aud The only ono
likely to cause any trouble Ia that arising
from the Initiation by royal decree at the
spai1sh 20 pesstA, popularity known us Al
phonsinSS, and the subsequent initiation of
lhe French 20 f,anc piece, so-callod lSapo.
Icons. which have been given a legal value
OF Sf.ed and dccreed since the end OF iSgs
rs lcgal money The Spanish authorities
at Madrid, having thus inflated Two god
COINS per cent above their current value
and about 10 per cent above their intrinsic
Va.ue'-for the mint valte for these Two
coins is $,1i6 and s2,oS2 respectively The
United States authorities at Washing;ou
are now called upon to initiate tairA gold
coin and make the American ragls worth
vi In Cuba and OUR 81 gold piece ctrrent
there at $780, As temporary mcasupr
this may have some Justification and
statements of the Cuban bankers. planter,
and business men as to evils OF dsinfni,on
az tbs time have certain degree of p.ciats-
Hilty. The process, however Is entirely
arIiieial and whatever Is done In this d.
recton today must be undone some other
day and the practical question would spem
10 be how to tisinflate these two coins WIN
tcs least possible disturbmnce to mort
cages, contracts, notes ana all CLASSES OF I
eNsNing agreements to pay money Our |
ranS matters Will adjust and take care Of |
themselves 1t Is generally known that all |
transactions in Cuba since the close OF tho |
War have been made with tho bellcr that |
the linked States would not continue the |
royal decree Of Spain and that the lnfla- |
Mons would collapse with the disappear |
a'ice of Spanish rule
IT Is not probable that this adjustment |
can be accomplished withou, hardship to
some debtors and slight financial d.
: 'urpan'e, II Is not, however apprehended
nave anticipated In Santiago the first
stop 10 sound finance has been taken and
: l@r tSBt Cf TIE ~. intica aqueezel uut.1 he |
business interests of that part of the is
esnd are opposed to continuation of tho
u per cent Initiation and merely ask thnt
,oih COINS IN circulation be left at lhclr
ACE value.
niiation. certain petitioners put forward
ne lact that II would mean an Increase OF
rom TO 10 per cent In the wages OF the
abcTer, which Cuban INDUSTRIES can nre
Holu siah result, if true, can not be
eRarded as an evil, Init on the contrary a
ehent TO the poorer classes whose conJi-
ION in Cuba Is dcplorablc beyond doasilp-
ion, In tho iron mines at Santiago ina,
aike American enterprises have already
d1usted themselves 10 the new condition
M are paying their labor 7J canls per
ay, American currency, Instead Of span
sh doAais worth % cents In Cuba and
\ the wor,ds markets but so cents. Your
commissioner, when IN thsi mining distrIcts
this province. heard no complains ethe
rom NE prCDrIetors or lie labDrers Gtress I
J laid upon the loss 10 the debtor who ,
as borro ed on fictitious yaliis and mus.
az the premium ana tae unfortunate Gu
an sugar planter iB especially singled out :
~ sympathy That the planter win suffer
an not be dsaiei but this advent OF the ,
nited States into Cuba VIII tighten so /.
lany OF his burdens that his condition ~ /,
OF without hope. All the customs duties /,
u his imported fool supplies have beta
luccd and many important commodities
te put upon the fires list. HIS sugar ma
iinery has been reduced to 10 per cent !,
I yalorem, his locomotives and railway
ipplies to 20 per cant. and AN along tte .
no taxes have been brought down II /,
not probable that MS land taxes viii b.
ELECTED during The present fiscal ysar,
iile the return OF peace, establi sllm-n mt
law and ORDER and rroteatien o. prop
'ly will immfasurably improve his lot.
therefore. the sugar planter OF Cuba will
iuge his present outlook nv glance back
ard and compa.'s II With his condition 4
st year al this time he may face thu new
;pation without gloomy premoniticns as
Ills future.
T., y 4 F. -.
PAY FnR (.URANa