New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-30
SCOTS Emulsion.
REG ULATTNG CUBA'SFINANCES
AN ORDER ISSUED BY PRESIDENT
MKINTEY.

STANDARD OF VALUES IN THE ISLAND FIXED
on A GOLD BASIS.
Washington Dec 2s-Arter II conference to-day
with Robert +. Porter. special commissioner OF the
United States to Cuba and Porto Rico the Presi-
dent approved the following executive order, which
already had been signed by Secretary Gage. in "A
measure regulating the financial system OF Cuba:
Executive Mansion.
Washington December %. ls.S.
1t Ia hereby ordered that on and after January !,
1899. and until otherwise provided all customs.
shall be paid in the United States money or In for
ten and French louis. which will be accepted in
payment OF such customs taxes. public ana posta!
Alphonsnos C25-peseta piece as2; louis (2o-franc
piece. 1886 49,. o....u, -,
money shall be payable IL the none dsnopinatsa
IN such and where trenfn ana Spah hs
shall be received In their present decreed inflated
oS ' PeSe or s uhted states
money at the relative value set forth In the above
and s. for louis 2o of pisce
It is further ordered that on and after January /.
ish silver coins now In circulation In the island OF
cuba shall be received for customs. taxes public
and postal dues at the following fixed rates In
The peso % cents: the medic peso. 20 cects. the
peseta l2 cents, the real. cents. the medic real
island o. cuba viii be received at their face value
for fractional parts OF dollar: in a single pay.
peseta,. WILLIAM NJ hiNi'hf'
In his report on which the Presidents order Is
based Mr.. Porter says
The real point at issue and the only one likely TO
on y pva T0 Sss1t the Se Srs pop
larry known alphonsinos or centeis ana the SUD
sssG o which hays been given legal
value OF a. and decreed since the enc o' s 1851 a.
having thus inflated Two gold coins per cent above
their current value and about 10 per cent apove
%o co i'"j is H;cs and sss;os respestiysyr,ns
United states authorities Washington are now
the American eagle worth 81 IN cuba ana our %
gold piece current thers a. ~ ;sf,catlnn and
statements from Cuban bankers, paiters ana dust
nave n' certain degree Of piausibty The process
however Is entirely artificial. and whatever ~ done
in this direction Today must be undons some othrs
how TO dlsniate these two coins with me ieas.
possible disturbance TO mortgages contracts notes
and all classes OF existing agreements to pay
money Current matters will adjust aud take care
generally known thai all tTsnsaGtSss yin in S9 ,Ss
belief that the United States would NOT continue
the royal decree OF Spain and that the iniatohS
rule II is moi probable that this adjustment
can be accomplished without hardship To some
not hew@ver. apprehended that the trouble Will be
grea A. soi"e hSye snpd nanca has been
taken and per cent OF the imitation squeeze ou,
are ooposrd 10 continuation OF the 10 per cent IN
dstIon and merely ask that the several gold coins
i'm circulation shall he left at their race VaIue -
ono az III. evils arising from disiniiation certain
petitioners nut forward the fact that II VIII mean
an increase Of from 10 10 per cent III me wSsrs
az labor. which Cuban Industries cannon, huoiu
such result II true cannon De resaru''u ~ .n
OWL hut on the contrary. "A henrnt 10 tnr ,poo,
cltssrs whose condition in Cuba - deporhpe De-
You'd description. ,. .,o ,oro, ,,,eri
can enterprises have already adjusted themselves
- cents a dav American currency instead OF y
Snansh dollar worth g. cents In cuba ara IN inc
worlds markets but 10 cents. Your commissioner
when in the mining districts OF this province h'rd
no complaints from the propretors or the laDotrIS
err.-. Is laid upon the loss TO the DEBTOR VINO IA
horrnw.d on a fictitious value and must pay w
nremltm and the unfortunate cuban sugar piah
10 esueclslly singled ont Tor sympathy. mar wv
i,p,.r Will suffer cannot be denied, but me hu'eti
" the United states into Cuba VIII lignteh -
many Of his burdens that his condition II nor WIZ
a., hone All The customs duties on MS lHiportr"
Tcnd spplies have been reduced ana many 'iipoi
,.nt commodities put upon the free lts'. Ills rus'
,nachinrrv has been reduced TO ~ per cent az
,"iorcm his locomotives and railway suppHes ~ ~
nor cont and all along the line the taxes nave pee
rut down Il il probable mat MS iani taN'S
I'M ha collected during the present hscal ,Eelr.
ND order and protection Of property VIII ''-
,nnasur,bIv Improve his lot. r. there fore me ssil
ri,u,er Of cuba will gauge his present our iooh ny
backward. aud compare IL WITH ms Oh.
Jition last wear at this time. ne InaY race us ~
,a.r q, i'm loss gloomy preInonitions as 10 M iu0
49,, .nn. of the testimony taken by your 'oinhIS
elmer On the effects o. dIsinnatlon would Indicate