New-York tribune., 1900-08-25
PORTO RlCAN AFFAIRS.
STRIKES CAUSED BY CURRENCY De
LUsIoNs-INsULAR POLITICS.

b.
present time Porto Rico has been visited py series
of intermittent strikes among plantation poems and
Iaborers generally These strikes were the result
of misunderstanding illusion over the Value or
the American dollar.
Although the time limit for the redemption OF the
provincial currency had been indefinitely extended
the idea current that that coin would nave no
value after August 1. The price Of everything In
Porto Rico was advanced Sc 2-3 per cent The poor
man. finding he had to pay dollars "here ne
formerly paid pesos for articles of common neces
sty struck for dollars instead of pesos There Is
q semi-AnarchIstic Socialistic element In Porto
Rico, headed by Santiago Inglesias, an ag-
gressive Spaniard. who has placed himself in
position which enables him to control the laboring
classes. During the last six months he has been
the direct of several disturbances, in which
four or five men have been killed, but he has al
ways enjoyed his liberty. it is claimed after In
tmidatlng workmen with threats and directing
acts of violence. He is always careful to be in
another part OF the city when the deeds are
mitted He is at present in jail awaiting trial
charged with threatening murder but will probably
be discharged when he appears before the Court
such is the Spanish law.
Competition has gradually caused prices to adjust
themselves. and in week prices will have
assumed the former rate. Some of the more
reasonable citizens did not raise prices refuse
TO accept Porto Rico silver in payment of goods at
the bank rate of exchange. But the contrary ruled
In the majority of instances. Bodies of from three
TO five hundred plantation laborers went on strike
but the quick presence of extra detachments of
insular police in the troublesome districts promptly
quelled all disturbances before violence was com
mitted
At a meeting OF the local Chamber of Commerce
recently the question OF the islands circulating
medium was discussed at some length. No definite
action was taken. but committee appointed
10 study the matter and report with suggestions at
this weeks meeting
THE CURRENCY PROBLEM
Briefly, the problem is this: Prior to May
ABOUT oVoOO0 pesos were In circulation the
lsieno. When this amount is all redeemed the
amount OF American currency should aggregate
about S,600O00. This amount is insufficient to meet
the demands in mercantile circles during the COM
Ing dull season. when the island is buying more
than IT sells. To the United States Porto Rico is a
new market and the merchants here have been
unable to establish credit. consequently the New
York commission houses demand cash payment for
all purchases. AS for several months 10 come our
merchants will have but little merchandise to send
North In payment, they compelled 10 send the
actual currency-an expensive proceeding, which
oralns the currency from the island. Drafts
New-York cannot be bought. because II is said
that our bankers have funds In New-York to
draw against the trade being all one way at pres
ent, the island importing more than 1t exports.
Inc American currency consequently will be leaY-
ing the island for several months, and It is feared
that the drain will prove serious possibly eav-
Ing enough currency on the island to ordinary
demands. The recent issue of 600 900 in paper by
the spanish Bank will tend TO relieve the situation
considerably. but this money cannot be circu-
lated outside the island its help will be slight
This new issue of the Spanish Bank is fast get
ting into circulation The bank has authority from
Congress to issue 81 $4,000 three times the
amount of the paid in stock. The bills are per-
haps more convenient for handling than the Amer
lean bills. being smaller. They neatly printed
in Spanish, with "Moneda Americana stamped
across the face in red. The issue is Of the follow
ing denominations s., So $40 $50 500 and $500
They are in no sense legal tender, and may be re-
fused oy any one. OF course. the issue is
less wildcat money. There is no guarantee back
of 1t except the banks credit, but as the standing
of the institution is unquestioned no fears are
entertained. Moreover. the books of the bank show
that the average amount Of cash in the vaults is
sufficient to call in the entire 81 900 900 in single
day If it were possible for it to be presented
AS temporary measure. until the United States
National banking laws may be extended to Porto
Rico, the exigency is indispensable.
GRAsPING LANDLORDS.
| A meeting OF landlords was held here last week
at which they agreed to raise all rents SO 1-3 per
cent. The freeholders in the city are nearly all
spaniards. and the majority present at the
meeting Another meeting is called for next Sun
day, at which league of landlords will be formed
For city of thirty-fve thousand inhabitants San
| Juan is probably OF the most conlpactly built
cities in the world. The city proper is crowded into
the limits of the old walled town as laid ont two
| hundred years ago. Four and five often more
families are quartered in house many living IN
ChVehthated windowless rooms. The poorer peo-
! PIE are crowded together like pigs in a pen amid
| most wretched surroundings Rents even before
! the rise were extremely high If the landlords
deal goes through they will be beyond reach OrdI-
nary. plainly furnished rooms rent for from SO tn
! so month, and five room fiat, without anything
! whatever in the way of modern improvements
brings 500 The only solution 10 the problem lies
/ in the citys extension. San Juan is bounded en-
! three sides by the bay and ocean, the town being
! built up 10 the waters edge. The remaining side
! is bounded by Government land, which must be
opened to the public There Is enough acreage here
to allow the city TO expand 10 four times its nres
/ eht size There Is dispute at present as to the
! title to this property, the United States and the
! lhsClar city governments each claiming f. II is
] Understood that while Governor Allen was in Wnsn-
/ i1gton he recommended that the propertv he sold
at public auction.
! People in the United States have little idea or
the extent Of the anti-American feeling which ex-
General Mies's landing years ago last month
~ oFe . press reports told Of the open reception
! mucho bueno, then. But those who came with the
troop Troops knew that II was americana, mucho bueno
thing only instead of Give me five cents, sans "a s
boI me rat Government job with bank clerk
hours, tS Ihere Viii be two parties contendng in
| the the coming elections at which Delegates to the
! gress will be elected by the people The elections
! VIII take place simultaneously with the TTnited
nounced its, plans Conventions win probabIv ab he
held at which the candidates will be seleoteS r
cans are Well schooled IN pocs for s the Porto
! Mate9 32 FaIardo today announced himself as a
| cent, or boss, OF the Republican party in MAYA
Of Mayaguez San GERMAN sGPP0r nd Of d the
the local committees of these districts ind}yidni1,
and collectively having pledged themselves to SUP
THE COMMIssIoNERsHIP.
The two political parties have not yet decided ~
their candidates for Commissioner but will nroh
ably select them shortly after the meeting ~ th