Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1898-10-01
Opportunities in Porto Rico.

In order to obtain practical view
of conditions ir Porto Rico, Mr.. o. p.
Austin, chief of the bureau of Stats
tics Of the Treasury Department, has
made a visit to the island. He has
embodied his impressions in a state
ment which will be eagerly read by
persons contemplating investments in
the island Alter a survey of condi-
tions there Mr.. Austin says
Much interest is already being
evinced by people from the United
States in the matter of investments
in Porto Rico, and on this subject
there is a variety of opinion. Coffee
plantations are first considered, as
they have a reputation of having paid
from IS to IS per cent profit annually
upon their cost. They are held at
high prices, however, from SIS to
5000 per acre in Porto Rico money,
according to location, quality OF coffee
produced, age of trees, etc. The
western patt of the island is consider
ed the best for coffee, and produces
the celebrated Cafe Caracolilla, which
is all sent to Europe at the export
price of thirty-two cents per pound in
Porto Rico money. Sugar plantations
are considered next in Importance,
and are relatively higher in price be-
cause Of the more expensive machin-
erv required, while their attractive
ness as investments is reduced by the
fact that many plantations have been
abandoned as such and turned into
cattle ranges. Tobacco has been very
profitable of late because of the short
age in Cuban tobacco, for (which it
has been substituted, though whether
it will continue its popularity when
the Cuban article resumes its normal
position in the market is uncertain.
TROPICAL fruits have had little atten-
ton, either among local exporters or
American investors, but might prove
more profitable than the other inter
ests more discussed, as they are
ready for shipment at a time OF the
wear when the markets OF the United
States have not begun receiving the
Florida or California fruits. AS to
the increase which may be expected
in the production and consumption Of
the island it will depend somewhat
upon the improvements made in har-
bors, roads, transportation facilities,
etc, and the energy with which the
Americans may push the work of its
development. The land in the valleys
is extremely rich, and that of the
mountain sides even to the very top
is of good color and productive, espe-
ciallv for coffee and some of the fruits.
With the opening of roads to the in
terror it is probable that considerable
land not now titled would be brought
under cultivation, and the general
concensus of opinion among intelligent
residents of the island is that the pro-
ducts can be increased 50 per cent, or
perhaps more, and the profit greatly
increased by modern methods of cult
walton and transportation, and the
consuming power of the island in
creased in about the same proportion.
Even should this happen, however,
the island could furnish but about 10
per cent of our annual consumption
of tropical products, and consume
but about ? per cent of our annual eX-
ports. The business enterprise most
likely to be successful in Porto Rico
are those related to the tropical pro
auctions which flourish there, and
cannot flourish in the United States,
while to our own temperate climate
and we'll established industries should
be left the task of supplying the gen.
eral food products and manufactures
required by the people there, sending
them the products of our grain fields
aud factories by the vessels which
e return laden with their tropica
growths. Manufacturers Record,