Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1899-05-26

BILE importance on account of the part
that American capital and the financial
representatives of the United States
government were to play in the Ameri-
can commercial and financial occupa-
tion of the island. This was before the
signing of the protocol and before any
policy was discussed with reference to
the Spanish possessions that have since
come into the hands of the United
States government.
"When we landed in Santiago, said
Mr.. Jarvis, 1--WE proceeded to the pal
ace. to call on General Shafter, present
our credentials and pay our respects.
Within two hours we had opened ne
gotiations which finally resulted in
our securing the banking house former
ly occupied by the Bank of Spain. The
third day after our arrival our safes
were in position, and we opened bust
ness. 1t was the first and is at present
the only American banking institution
in Santiago. and was the first civilian
to raise the American flag on the island
after the commencement of the war.
when we arrived in Santiago, there
was no American money in circulation
and merchants would decline to receive
it, insisting upon everybody paying in
Spanish money. But in few days
American money began gradually to
circulate. The objection was at first
made to American silver, as the Span
iards thought ii was worth no more
than Spanish or Mexican silver, but
soon dispelled that illusion by offering
to redeem all American silver in gold,
and from that day until the present
time American silver has circulated
throughout the island the same as
American gold or treasury notes.
1T was during my stay in Santiago
that the protocol was signed. then re-
turned to New York, and after spend
ing some time there and in Washing
ton proceeded to Havana and estab-
iished branch of the North American
Trust company and the fiscal agency of
the United States government. At that
time there were but very few Ameri-
cans in Havana, the only officers being
those of the American evacuation COM
mission.
Il saw considerable of General Blan-
co and other Spanish generals. l was
very much interested in the experiences
of General Blanco while he was govern
or general of the Philippines which he
narrated to me. He spoke feelingly of
the loss to Spain of her rich possessions
and spoke freely with reference to his
views as to the proper policy she should
now pursue. He was probably the first
Spaniard to say that he thought that,
instead of attempting at once to rebuild
a navy or to continue a large army,
Spain should devote her attention
to manufacturing and commerce and
attempt to secure reasonab ble proper
tion for herself of the comm erce of the
world. In speaking of the Philippines,
he said that he had while governor gen.
eral sent as high as $46, 600, 600 of the
revenue of the islands to Spain in one
year
GAS TO the business opportunities in
the island, there are many, but they
are mostly in the way Of large enter
prises. requiring a very considerable
amount of capital. But there are 9th
ers where man of small means has an
opportunity to do we'll There is great
opportunity in cattle raising, for the
climate is warm all the year, and the
cattle do not require feeding, nor are
they exposed to snowstorms, as in
the STATES ConseoueDt1V the Dercenta
of loss is much smaller. Dairy farming
would pay well. and the growing of
vegetables, as truck farming, would be
profitable; also the poultry business.
But as nearly all the cattle and poultry
on the island, as well as horses and
mules, We're destroyed during the war
it would require the shipping of cattle,
poultry, ETC., TO the island to begin the
business. FLLIAM r. BRITToN