The times., 1899-06-10
THE CUBAN MORTGAGES.
A Committee Here to Protest Against
the sTfne Extension.

COMMITTEES Here to Protest Against
the STnpe Extension.
Another Cuban committee has arrived in
Washington. and the latest delegation will
endeavor to undo the labors of the body
which managed to obtain from the Presi-
deIt an extension on all mortgages on Gu
ban lands several months ago. Four of the
most prominent business men of Havana,
Matanzas. Cardenas, and Puerto Principe
are here in the interest of the commerce
and agriculture of the island, and they will
petition the American Government to mol
ify the order which granted postpone
ment of the settlement of all debts con-
tracted in Cuba prior to the S1st of last
December.
The members of the committee, which
arrived here yesterday afternoon, are FL
G. Pierra Yynacia Remirez. Pedro Galois,
and Emilio del Junco. They claim to rep
resent the general business interests OF the
island. and all responsible debtors and
creditors. They come well prepared with
legal documents and such material as will
tend to prove that a radical change must
be made in the present order If the people
would have prosperity. letter was sent
to Acting Secretary Meiklejohn yesterday
afternoon asking for the appointment of
time for a hearing. The request will be
granted within few days.
The order which the committee desires
modified was issued in March upon the
recommendation of General Brooke, and
went into effect on April "a. A committee
which claimed to represent the agricul-
tural interests of the island appeared in
Washington. and after several hearings
managed to obtain an extension OF the time
set for the foreclosure of mortgages on
Cuban lands and the payment OF all debts.
The time was extended two years, SO that
the debtors might have time TO recover
| from the effects of the war and to enable
| them to save their property.
The members of the present committee
| claim that as result of the extension OF
| the period for the payment of debts all o.
the business interests of the island are be-
ing ruined and the progress of Cuba
seriously retarded. They ask that such
| notifications be made as will preserve
security.
Senor Pierra, the chairman OF the COM
mittee, when seen last night stated that
he had every hope that the desired caanzes
would be made as soon as the need ior
them was made apparent. The complica-
! tions which have arisen" said he. are
| terrible, and one must understand our sys-
TEN of doing business to have this made
plain.
THE order affected debts which were
secure 1t has made bad debts worse, and
neither the creditor nor the debtor can co
anything or touch anything as matters
now stand The honest debtor is crushed,
and the decree favors in everything the
dishonest debtor We can do nothing.
"If you owe a man a debt and own
property valued at $4,000 he can neither
collect his debt nor touch your property.
All he has to do is to go to the courts
and they will protect him under the pro-
visions of the order.
THE effect. has been to paralyze busi-
ness and agriculture is dead. piece OF
property valued at 100000 is actually
not worth $4,000 because you could not
raise that amount of money On it, and
| $50 900 debt is no inconvenience since you
cannot tie forced to pay it.
| The committee which represented that
| the passage of the decree was necessary
| to the prosperity of Cuba represented only
the debtors who desired such state Of
affairs The creditors were not represent-
ed. nor were they consulted at all in the
matter The!condition of a few men was
| taken as that of the whole people.
| Within twenty-four hours after the or
| der had been issued money went up to 8
per cent, and all contracts were Cancelled.
| So you see how good a thing this is. We
have TO suffer as debtors and as creditors,
and are bound hand and foot The decree
| has affected debts contracted as far back
as four years ago. and has annulled at
tachments which had already been levied
by the courts.
Less than one dozen debtors are re-
sponsible for all of this. We do not come
here with politics. but in the interest of
Cuban business. We wish to obtain a mod
| iiication of the order so as to preserve
| the integrity OF the attachments and to
maintain the security while extending the
time for payment
We are much in need Of a civil guard
in Cuba, as the island Is poorly policed.
l wish to deny all these wild stories OF
disorder in Havana. as we are getting
along nicely and quietly You magnify a
| few Cuban bandits into a great affair. and
yet you forget that you yourselves are now
chasing bandit train robbers in the West.
Again, Is a tiff between a Cuban and a
Spariard any mere terrible than one OF
your lynchings? Cuba is not such a bad
place. and hate to see these stories mag
nifed'
The members of the committee are all
highly educated and speak English flu
emily. They will be given a hearing not
later than Monday by Secretary Meikle-
iohn