The times., 1898-09-04

A writer for the New York Commercial
Advertiser from Ponce, Porto Rico says:
"The condition OF affairs in the city at
present is chaotic. Everything Is In such
a transitory state. The Spanish rule has
loosened its grip on local affairs. but tha
American Government has as yet only
made itself felt through the army. This
is shown best. perhaps. BY the condition
OF the currency. Offer your American
gold at any store and you VIII be pair 75
per cent premium only, while at the Gus
tom House, which is Gen Miles's head
quarters. you can get two dollars Porto
Rican for one American This Is the le-
gal rate established by an order from
Gen. Miles. and as long as the silver
holds out at headquarters you can get
that rate. but the supply for distribution
to the army Is not large. 80 At times the
custom house has to suspend payment.
Then every one, be he native or not. must
take the IS per cent less. The banks OF
the city so far have ignored the generals
orders, and, though the intrinsic value
OF the silver dollars Is only IS cents, still
in exchange they count as 81 cents and
a fraction
Though the city is under martial law.
the municipal authorities remain IN
changed. with the exception OF the Span
ish officials, and the customs are collect
ed on the old tariff Thus the German
steamship arriving In port the other day
had 10 pay the old exorbitant duties on
its cargo OF beer and rice. Even on the
flour she landed the old tax of 81 a bar
rel was levied. Ponce Is full Of possibili-
ties for capital. however. Everything is
undeveloped. The Spaniards ran the ISL
and with the old idea of turning money
over 10 the mother country. That Is,
what money they themselves didn't want.
Nothing could be exported owing 20 the
duties. and manufactures were similarly
kept away. The tobacco crop can be In
creased twenty-fold easily, for under the
Spanish regime there was no market for
the tobacco. 10 couldn't be exported ow-
| ing TO the duties, except TO Cuba All
of IL had 10 be sent there TO be made into
Havana cigars. The people on the
| island pay out annually over a million
| dollars for cigarettes made In Havana OF
! Porto Rican tobacco. Then the sugar
crop. now amounting 70 some 10 099 tons
| annually. could easily be doubled. as
many suitable lands are now unculti-
/ waited
| 1T can be raised as cheaply here as
anywhere For $40 an acre the finest
! kind Of land could be bought. all ready
/ for planting the cane. Good land could
! easily be bought at half that price Then
! the coffee crop has great possibilities
the quality of the native coffee being ex-
| celled only by Java AT present. how
| ever, Porto Riean coffee is almost un-
| known. Then there is no good reason
why many parts Of the island should not
be devoted TO truck farming At present
potatoes are almost unobtainable In the
island. and the early vegetables which
| would be SO priced in New York during
the Winter season are also unknown
| With steamers running 10 New York IN
! five days there would be no trouble in
| dispOsing there even OF perishable
| fleight. A line Of fast American steam
| ers undoubtedly win soon be started TO
New York.
THE openings for making money at
| Ponce seem to me to be inexhaustibIe-
| In whatever direction you look you are
I surprised at the lack OF ingenuity, OF
/ brain that is shown The merchants have
I no billheads, no cards even, and every
where you see only very sluggish compe-
/ tition. To be sure. one railroad has been
built on this island during the many
: long years OF Spanish rule, but that Is
a one-engine affair. I understand that a
! French company has the right TO build
/ a railroad around the island but ths
time allowed-some eight years-is al
ready very nearly expired, and little
| headway has been made
''The fine mineral springs In the INTERIOR
have been pre-empted. and several applf-
| cations have been made for q street rail-
| road, but the charter for that viii be
| awarded to the bidder charging the low
| est fares; bids to be awarded IN about
three weeks. To see the number Of peo-
pie plodding their way over the two
| miles of road separating Ponce from its
| port is sufficient evidence OF the need of
4 -,
Convince one OF the money-maker's pow
er OF a car line Banks are also needed.
those at Ponce being very small foreign
institutions. If our tariff with the ISL
and is abolished, as it must be after an
neXation. money put In almost anywhere
on the island will be doubled. Paid
for in silver currency, IT can soon be sold
for the same amount in gold. OF course.
I am assuming that the duties on sugar
remain as they are at present"