New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-07
PORTO RICO AS A COLONY.
WHAT THE ISLAND NEEDS FOR FUTURE
DEVELOPMENT.

LAND VALUES AND CHANCES FOR
AMERICAN INvEsToRs-IMPoRTs
AND EXPORTS
,,o, Porto Rico Dec. 12.-In considering
pnr,o Rico OF to-day and the developed Porto
~, - the future II would be well to set down
~ ,,c,s. The island has area OF $3.50
-. miles Its population is less than eoo.W";
So ara various estimates OF population ranging
49, coo 900 10 this hgure. A Spanish census OF
No,,, Ton wears ago puts the population at $1,000"
,.,o-s,ng 10 Bulletin No IS OF the United States
,oo-,-oent OF Agriculture, entitled Trade OF
$50 RICO" the annual average imports OF this
,.,",, from 1897 TO 1895 to all countries amounted
-, ,oo nesos This amount Is calculated TO
-, - AGO 40, American dollars. and the annual
.-oco ~ exports for the same five years is given
=. "a as4 4qa pesos. or 16 3a00il American dollars.
- ,sland Is densely populated and closely Guilt
vs,ed tho population for each average square
tic he,ns 90 Its commecia output can certainly
.oosod and It's consumption OF foreign mer
,.,,so will increase with the development neces-
- ~ bring about this first condition. Granting
,ha, exports and imports ultimately increase 81
nv cont Porto Rico could then supply ABOUT !"
s- cent OF what the United States yearly con-
rss IN tropical products and would be a market
%, ahou, per cent OF this countrys yearly ex-
~ When these facts considered. one
caches 4 fair idea Of the commercial value or TINS
new possession. nj, r
As a winter and health resort Porto RICO VIII
have It's attractions there Is beautiful scenery
,rop,cal and strange The climate is delightful IN
winter There is much evidence TO Indicate mat
,b,s climate Is healthy one, but the life IN cues
&, M, as vet There are a few beautiful drives
- tho island though the greater majority or the
-osds are vretched and there are cool mountain
LEGATIONS well suited for comfortable hotels
-he advantage Of the island as n naval outpost
e great TIC the United States this Is probably us
,.os. valuable feature and the establishment here
.. Arst-class navy and supply station Is a oues-
ton OF time only. Porto Rico will also be ,rain.
,rs ground FOR the American soldier. who VIII ma
himself as A policeman In the land.
FAILURES on SMALL CAPITAL
rnA-a arc always n number OF adventurous spirits
- follow armies ready to grasp all advantases
Arising from the economic changes mat Io"ow
armed Intervention. There has been no lack OF su'h
mon 10 follow the American Army INTO PORTO N'co.
$50 ~ them were experienced in their work ana
- ,or - direct their efforts through the con
,,e,on resulting from the radical political changes
occurring here daily or threatened Tor the near
future There have also heen many who could not
~ content With these conditions, whose smah cap
tai was soon exhausted by heavy traVelhhs OK
rensee and who We're glad 10 get home as best 'heE
,r,eb, Porto Rico has not been easy field for
the amateur adventurer. Newspaper reports nave
heeo misleading and read in the United states
though rose-coored glasses. and Win %" nun
dred dollars young men have started down mere III
tho hunt for the golden opportunity which has not
yet been found
There are however. opportunities for pron'aol
,,ves.men, here II requires cool head ana
clear mind 10 seek them out and recognize me"
ahen found and then Il takes capital 10 WORK '"ei
When one speaks OF s11.5coro worth OF imports
into Porto Rico Il must be borne in nina 'ha' 'na'
amount represents the islands business with All 'e
world and while I, fact that under free TRACE
with the United States the larger proportion %
this money will he expended 'or American eoonS'
Vet a certain portion. which Is estimated al |-'"''
an A wear will be spent in foreign markets. notably
IN Snain and for articles we do not produce ana
a.hich the islanders want and will have The Tor
eicn trade Of Porto Rico has been In the past
conducted chiefly with Spain. the United states
Cuba Germany. the United Kingdom ana france
Eighty-fve per cent OF the merchandise imported
and exported in the years ls9396 was exchanged
With these countries. Spain received the largest
share OF this trade her portion amounting annually
10 50 SIS 074 or % per cent OF the total valuation.
The trade with United States during this period
was second 10 that of Spain: its share amounted
10 e. SiS 252 annually. or 20 per cent OF the total
In these same years Spain sent TO Porto Rico
yearly average Of s. 1891 worth OF goods equal to
q per cent o. the islands imports. and against TINS
the United States furnished "a per cent OF all that
the islanders bough, in foreign markets. For the
United States 10 enjoy the best advantages from
he free and there must be prohibited duties on the
productions OF other countries.
CHANCES FOR INVESTMENT
7, is interesting 10 consider what this new posses
sion offers to the American who wants to invest
from & 90 TO so 90 here Agriculture Is the basis
O, wealth: the prosperity OF the year is measured
by the success OF the various crops. There follow
the amounts Of agricultural exports In the year
lp7 down In pesos. The peso IL the silver DOL
lar Of the island It's intrinsic or bullion value Is
about cents gold and the rate OF exchange Is TO
dav AT is5 That is one receives 81 & IN pesos for
an American dollar. This is n commercial Vaiua-
ton which differs largely from the bullion Vaiue
and from the arbitrary rate OF exchange OF Two
: Tor one established by the American military au-
thorities In Porto Rico The records OF the Span
ish Bank Of Porto Rico for the last ten years show
.at the average rate Of exchange IN this period has
been ~ per cent.
Porto Rico exported in 1897 coffee to the value
% y 2225ss D. os tobacco the value OF lls'oio
pesos 20 the value OF about 5000" pesos
black molasses valued At +3,5l9 pesos. cocoanuts
worth q .ss pesos. sugar-cane rum valued at 81"
pesos. and 10 the value OF 81 2R There can De
added to this list Il sS2 pesos worth OF hides ana
ze $50 pesos worth OF cattle. All OF the latter were
shipped other West Indian Islands. There were
q course. various other products exported but the
total value Of no single amounts 10 $500 pesos
.or the year.
When estimates are made to-day as TO what
extent Porto Rican crops will prove profitable IN
he future it il seen that mucn oepehus
upon The DEVELOPMENT Of the island. such az trans
portaon and the growth OF the islands prouuc's
IN the American market. In this latter respect II
must be remembered that cuba will be Porto Kico
mos, active rival. II can generally be stated tha'
cuba will produce everything that Porto RICO does
and Cuba. II eventually receiving equal prlFhestS
with the latter In the American markets, hous
geographically more advantageous position man
does Porto Rico and IS capable OF much larger
and consequently cheaper production.
PRICES FOR LAND
Land is expensive in Porto Rico this because '"e
population Is dense To-day. In the face OF the eN-
pected ;nfux % Americans eager TO buy, prices OH