The times., 1899-11-23

arrangements proclaimed by President
Harrison, to which reference has been
Just made. might be also supplemented
with great advantage both for Cuba and
the United States by placing Cuba, in so
far as postal relations are concerned. eX-
actly on the same footing as Canada and
Mexico, the postage being thereby reduced
to domestic rates. Also by resembling any
order preventing competition By cable.
Before putting an end to this paper
we should suggest respectfully that as
the conditions OF things in Cuba are so
different politically, economically and
otherwise. from the conditions which pre-
vail in Porto Rico and the Philippine ISL
auds which belong to the United States,
and the questions which refer to labor
and agriculture in Cuba are SO exceedingly
irnpO-ta ant and -Cyire so much local l-noWI-
edge and experience the whole work OF
yCar benevolent action herein invoked. IN
favor CT the Island Of Cuba and in behalf
CT her agricultural interests, would be
crowned by the appointment OF a COM
mission consisting at least OF nve mem
bers, two of them at least to be Cubans
and planters. and choosing among the
Americans those who are acquainted with
the Spanish language or have performed
consular duties in Cuba This commission,
which you might either appoint yourself
without any previous action OF Congress-
OF which you might recommend Congress
TO create might be an invaluable advisory
board in whose intelligent opinion you
might find such assistance as might, FER
haps, be necessary to secure in short
time through a magnificent revival of the
prosperity Of Cuba, the pacificaion of that
island"
The report is signed by Evaristo Mon
talva. Francisco Figueras. Commissioners;
EvaristO v de MontalyO, Secretary, and
J. I. Rodriguez, Consul,
Plan of the Ranks.
The plans for the establishment Of agri-
cultural banks are outlined as follows
bank to develop the agricultural interests
Of Cuba to fix credit 60 aid commercial opera
taEs, 10 act treasurer, and fiscal agent for the
government Of the island; to be established IN
the city Of Havana, with branches IN the prIn-
cipal cities of the different provinces.
]. With authority TO issue paper money. to be
guaranteed by the treasury Of the Island OF
Cuba.
2 Capital at least ten millions of dollars gold,
of which three million shall be held in reserve,
for the current redemption Of the notes.
3. The paper issued not TO exceed twenty million
4. These notes, guaranteed By the public treas
uTy Of the island shall be payable TO bearer IN
gold upon presentation. They shall be considered
and accepted as legal tender and shall be orig
iually issued exclusively foT investment in first
mortgages upon country property, III cultivation
or production.
3 The issue OF twenty million dollars OF notes
10 be made IN twenty lnstaliments OF one million
dollars each.
6. Inc borrowers shall give TO the bank first
mortgage bonds TO run twenty FIVE years, with IN
tercst not TO exceed I'D per cent; redecmahlc, how
ever al any time under prescribed rules: the bank
TO be permitted 10 sell Oue-haif OF these bonds,
serving the either half to cover and secure the
guarantee of tho notes by the treasury Of Cuba.
The bank shall redeem the notes in gold as these
bonds are paid.
:. The hank viii act as treasurer for the Island
Of Cuba without any remuneration.
:. ln addition TO The above the bank may in
rCsi lis oWu money tssven milliOns) according
10 the custom Of similar institutions
.. The laws relating to foreclosure in Cuba
snail be s!mplifed that the holders Of these
in case Of uou-paymeHt, permitting them place
the property al public auction after the Obiga-
tiOn r. due
TO- The bank viii be exempt from all direct or
Indirect taxation upon all its transactions in
cluc2d IN the franchise.
II. The franchise 90 be granted to the highest
bidder
j.. The franchise % be granted for at least
twcHtv-hVe years. with further extension Of time
If the Government Of Cuba disposes.
il. During Tie period Of tile franchise. all legal
questions between the bank and the Government of
the Island II Cuba. not otherwise determiuabe
sHail hc submitted TO three arbitrat0rs the third
10 Doe oHe OF tho judges OF the Supreme Court of
lIc nited States the aTbtrators decision shall
be final.
IL The Government Of Cuba reserves the right
10 inspect and supervise the operations Of the
bank 50 that all its transactions shall be CON
Quoted according 20 the terms OF this franchise;
and periodical reports shall be required under
fixed regulations.