The herald., 1898-12-25

NEW YORK, Dec. 24.-Amercan control
is so close at hand that it is possible to see
clearly the work ahead, says the Havana
correspondent of the Tribune. Maintaining
order by means of the troops is "A prelimi-
nary condition so well understood that it
does not call for explanation. All classes
in Cuba know why the soldiers are here, and
knowing, they acquiesce. That knowledge
III itself is the best guarantee of tranquility.
Isolated instances may arise which will call
for repression, but these will not affect the
general good order.
The commercial classes are showing the
greatest adaptability to the new order of
things. Within a fortnight after the tariff is
promnl gated business will be moving smooth
ly in its accustomed channels. The only
uncertainty OF the future is that which will
come from the shifting OF the money stand
ard.
SO far as preparation can be made for a
change of this kind, the business houses of
Havana have made it. They do not as vet
know positively that customs duties are to
be paid in the currency of the United States.
and they are not certain that the imitation
Will be squeezed out of the Spanish and
French gold coins, but they anticipate a
modification of some kind. That is the last
cloud that hangs over the business commu.
nifty. The sentiment against changing the
present artificial relation of values appears
to be growing.
The merchants and bankers who are op.
posed to change advance some strong argl-
ment against modifying the present system.
They take the ground that since the United
States expects to collect the customs reve-
nues in trust and to expend them in Cuba.
a change is not desirable. Bv the imitation
in the gold coins, by which everything from
an ounce down to doubloon or u French
l/ouls receives value greater than its
actual worth, Cuba has been kept on a gold
basis. Through all the periods of internal
war and industrial anarchy gold has STAYED
in the island and the paper known as "Vey-
lcrs scrip did not make headway or de-
bauch the currency. That is one reason the
merchants who oppose change in the pres
ent artificial values advance.
The banking houses and firms which re
ceive deposits will adhere to their agreement
and repay their deposits on the basis of Sl7
tor an ounce, $3.50 for centen, 81. .25 for a
doubloon and S4.A for Louis. Because of
the uncertainty, many of them are urging
the withdrawal of deposits while these val,
ues prevail. 1t is peculiar condition that
causes this course to be taken, though only
temporary one.
The use of silver in the daily transactions
promises to be the most troublesome Of ali
the questionA that must be settled by the
United States. The merchants and sugar
planters, who are opposed to change in
the present system, say the transition to n
different basis cannot be made without in.
dustrial disturbances and without great
hardship to all employees of labor Silver is
the currency OF everyday life. Wages and
salaries are paid in it.
In the country districts the mass Of tho
population never see any money except sill
Yer pesos or dollars, "pesetas" or twenty.
cent pieces, and reales or dimes. The rate
of daily wages is ordinarily silver dollar
The purchasing power does not follow The
fluctuations so closely as might be sup
posed, though when silver is falling IN
value. prices of necessities rises faster than
they fall when its value is appreciatinr This
has been illustrated during the last three
months. Though the "centen' now now % bnvs
only seven Spanish silver dollars, where
formerly it bought eight, the wage -earners
are not able to purchase more with their
wages The prices of retail commodities have
remained stationary.
The opinion of the employers is that If n
change is made that they will be compelled
to advance wages. ten per cent, for that is
about what the elimination Of the Spanish
silver currency or its readjustment to AM
erican values. will cost They do not believe
that the laborers on the sugar plantations
and elsewhere can be argued into accept
ing reduced wages in money of an increased
power, because that readjust-
ment would come slowly
The payment of the American troops will
lead to the difficulties. A small amount of