New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-11-13
FINANCIAL TROUBLES IN CUBA.
SENIOR MoNTAr.vO TELLS OF THE DIFFICULTIES
UNDER WHICH THE AGRICULTURAL
CLASSES LABOR.

Senior Ermisto Montalvo. who is prominent IN
Cuban affairs owns a plantation in the Province
of Cenfuegos. near the town OF Rodas whch IN
the year previous to the last nsurgent outbreak
Welded 10000 bags OF sugar. Since the war TINS
plantation has been running again. and last year
produced 1900 bags. This season Senior Montalvo
homes TO increase the output 10 5000 bags. HIS
son OF the same name himself, enlisted at Salt
Lake City as a private in Battery Il OF the Otah
Artillery lie was made a corporal In Manila ana
was later attached to General Otis's headquarters
az general Interpreter In which place he remained
until his return home
Senior Montalvo. when at his home, in this
city No IS East Twentynnth-st. last evening.
spoke Of Cuban affairs as follows:
Nv idea IS that the stumbling block IN the way OF
Cubas reconstruction is the financial and not the
@ IN isS and ended in 1879 left Cuba very poor
as was but natural. with It's attendant destruction
of crops burning Of plantation buildings. etc. The
exnenses of this war were wholly met by the
plantera the merchants Of the Island contributing
meet his burden because OF the then high selling
price of sugar. which ruled at about four and half
In addition to all this expense at the end Of the
war The Spanish Government manumitted all our
slaves without any recomEense to ourselves Dur
ing the ten years war Cuba produced about 10000
tons annually but at the beginning or the last
war our annual product had risen to 10000 tons.
while the grade OF the sugar raised was very much
Improyed also All this we were able TO do. with
| only one bank at which TO get the money TO raise
and move our crcns.
X,
Government was called the Bank OF Spain, and It
/ was only authorized to lend Its moneys to the
| merchants They did not. however, stick TO this
but lent money to the planters as well, which de:
yeloped the agricultural interests OF the island and
! enabled the merchants to get rich. After the mer-
I chants had made this money they succeeded IN
Killing the Bank Of Spain by Withdrawing all their
! accounts and keeping their money In their own
hands their intention being 10 lend 1t out again
at high rates Of interest. This course OF the mer-
! chants to my mind was Of the main influences
in starting the last insurrection In Cuba; for the
! reason that IL shut down many plantations and
| curtaiied the working Of others. The people thus
! made idle were asking for work. which they were
unable 10 obtain. since through lack OF money the
planters had none TO give. .
Another thing that is giving trouble Is the retfe-
ment OF s4s 10000 OF paper money from circulation
without the substitution OF any other medium OF
exchange In its place. There IL only one bank on
the island now. which lends rs money only 70 the
merchants. This greatly handcaps the planters,
and n is nv opinion that long as the sugar
plantations which the principal source OF
wealth OF Cuba remain undeveloped. the hnanclal
condition OF the island cannot be dennitey seq
tied and there will be a continual state OF uheas-
ness 49,, l., -, .h,o, 4, 4.
What the people want there is WORK. when u ~
not al present possible to give them. on account OF
the lack OF money.