The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-06-20
FIELD FOR CAPITAL IN Porto RICO.
Letter from the French Consul at San Juan
to His Government.


WASHINGTON. Juno 19.-Acting Secretary Of
War Meikleiohn made public to-day an alb
stract CT a communication by Charpentier. the
French Consul at San Juan. Porto Rico. on the
opportunities for capital in the island. Con-
sui Carpenters report was made to his home
Government and transmitted to the State De-
partment by. the American Minister at.Paris.
The French Consul says:
There is n place to fill In Porto Rico for
tunes to be made and fruitful fields for the
employment Of CAPITAL Heretofore We have
had little business with the large island that
the Americans have Just conquered; yet 1t is
a rich and important market. Though num-
boring only about 1.OOO.O)0 inhabitants, it
makes heavy purchases. because its inhab-
tants. children and grandchildren OF Span
iards. have expensive habits and live in COM
fort. Many of them know our language and
love .our race. independently of the fact that
there are some 5000 Frenchmen among them.
oil we!l-to-do ana some opulent. Neverthe
less our com merce there has thus far been in
significant for three reasons First. because
our exporters have an instructive dread Of the
difficulties that they NAV encounter in the
Government and courts OF foreign colonies;
second. on account OF the rates OF discount
third. because .he discriminating Spanish
from foreign markets. while al hitting duty
free everything from Spain
These reasons no longer exist The mat
u
OF President Mckinley fixes the value of the
local::piaster At three lranes The::dread of
OF the Amer ieanS, which is one Of their charac-
terstcs in : businesss The dscrimin atng
tariff has been replaced by the order Of Jan. 80.
which subjects all goods imported here to the
origin. This order applies even to American
part Of her s.. 900. 900 annual exports to Porto
Rico, Americans will gain good part of this.
but rreneh amen With little activity. can GER
MIR. CARPENTER cites the followi lines of
goods in which the French ought to get bust.
Ieror quality; champagnes, Spirits. liquors.
French brandies ylchy and other mineral wa
Which We're formerly three ,mes as su hish 3 as
the present duty. While France and Spain
are now on a footing of equality. Spain was ex.
empted from all duties under the old regime.
Foods such as butter, cheese. vegetables pre-
served fruits. mustard. sauce. chocolate. rice.
ucts. Partisan spec!alties, and novelties. such
knicknacks. articles for masquerades. sta.
tionery. boots and hoes. Iewelry watches and
phi oto0raph apparatus.
In {sonneudins Ms Interesting letter the
realized that this little island is more ropu.
lous than certain States. Uruguay. for in
stance richer also. and more accustomed to
luxury. We have our stakes already driven:
railroad in which there is.invested 10000
600 francs OF our capltal: regular packet boat
TILES and the advantage OF rich and highly
roputed colony"
Tho above iattering statement OF CONNER
cial conditions IN Porto Iilco has been printed
in several Of the French newspapers some Of
which were not altogether friendly during
the spanish american war to the Govern
ment OF the United States.
The United States Consul John c. Covert in
commenting on the letter. says that the Amer
lean policy in Porto Rico is In most emphatic
contrast to that IF France in her colonies and
protectorates. where heavy ONport duties nre
levied OH any commodities exported TO any
country except France and heavy import
duties upon any merchandise received from
any country except France.