The evening times., 1899-11-23

Commissioners Evaristo Montalvo and
Francisco Figueras and Secretary E. v. de
Montalvo jr., representing the Farmers
and Planters Association of Cuba, and who
presented an address to President McKin-
ley yesterday asking him to authorize an
agricultural bank in the island, conversed
freely at the Arlington today on the sub
ject of Industrial reconstruction.
Cuba has o mortgaged Indebtedness OF
81. .0G0, ,000,', said SeDor Montalvo. TINS
amount is largely in sugar plantations. The
revolution has ruined the production of su-
gar, and in order that il may be resumed. IT
must have, in addition to getting rid of the
Spanish mortgages, sufficient money to re-
plant and handle the crop.
THAT would require from eleven to
twelve million dollars, and that is the fl
nancial problem presented to this Govern
ment and the industries here to solve"
Senor Montalyo said the causes Of the
revolution lay in the industrial conditions
brought about by the Spaniards.
THE Spanish financial institutions start
ed boycott against the planters and es-
tablished loans" said he. The planters
were compelled TO discharge their laborers.
The laborers having no earnings were
starving Into this condition came General
Marti and his associates of the revolution.
The idle starving people Joined at once In
the revolution because under the flag OF the
revolution they could appropriate what they
needed to sustain life.
This condition still continues, and the
revolution is therefore still on; but the
,ha ,,1o aan these
men so that they can earn a livelihood, they
will become good citizens.
"Cuba's problem, therefore, is an un-
dustrial and financial problem, and not a
military one
THE people of Cuba are a proud peo-
pie" said Senor Figueras, the other day.
They do not want American charity. They
simply want to receive what they are enti-
tied to from the property they own.
They believe that the modern financial
methods and machinery in use in the
United States will do all that Is necessary
for their success"
When asked as to the methods Of con-
ducting the sugar plantations, Senior Fig
ueras continued
1.-The small farmer in Cuba rents the land
from the large planter. and receives from
his crop a percentage Of the sugar after his
crop has passed through the refinery. He
takes his pay preferably in money, which
is paid at that days price of sugar The
small farmers resources for growing a
crop are advanced to them by the large
planters, who do all the finaneiering for
themselves and their constituency of sugar
raisers."
II was stated that Senior Montalvo had
employed 5000 men on his plantations and
Seror Figueras 2.000 on his. large num-
ber of oxen and mules are also required,
and a large amount OF expensive machin-
cry. When asked about the banks OF
Cuba, Senior Montalos said:
The banks existing at the present time
in Cuba are absolutely unable 10 cope with
the financial problem there for the reason
that their policy prevents their loaning the
money needed with land as the security.
They loan only TO merchants upon mef-
chandise in the warehouse.
The only American bank that has thus
far come in. is one that is working to
make money out of Cuba for America. IL
has in no way entered into the field that
aids the agriculturist. The amount of in
terest that is exacted by anyone leaning
money in Cuba is enormous.
For instance" continued Senior Montal-
vo. "the rate of interest charged would be
nominaIly l. per cent. Security Is eN-
acted amounting 10 four times the amount
cent Is charged on this. or per cent on
the money loaned. In addition, the bor-
rover must buy his sugar bags through
the lender. and must also sell his product
through him after having stored ii in his
warehouses On all these operations the
lender makes a large profit. and also
! commission for selling: so that it costs
borrower about 40 per cent for the use OF
money.
"At present the wealthy Spanish class in
Cuba has a large amount of money idle
through uncertainty as TO the future. They
fear that If the party of Independents
should come into power the leaders might
favor confscation. The moment certainty
is given to the conditions this money will
seek investment in Cuba rather than else
where.
This certainty must come from the ma
tion that at the present time represents
the sovereignty in Cuba-the United
States"
Concerning the productiveness of Cuban
soil in sugar growing. Senior Figueras said:
THE American mind can hardly realize
the relationship OF crop to soil values in
Cuba. In the past the crops have been
worth ten times the value of the soil. For
instance, a plot Of ground worth $500
planted in sugar, would yield crop
worth S., 600. There is no better place in
the world for pezson with some little
capital to reap unusual profits"
THE BASEBALL SITUATION.