The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-05-15
CUBA'S PROSPECTS.
They Are Continually Growing Better
Despite n Few Drawbacks.

Providence Journal
Capital in large amounts is much needed
in Cuba for the development of the islands
great natural resources. Much would prob
ably have been already supplied If il had
not been for the delay in the execution of
the treaty of reciprocity with this coun-
try. Yet in spite of the disappointment
felt by the business men of Cuba at the
continued uncertainty regarding the tar
if, the commercial situation. it is crafty
ing to learn, is improving steadily in every
respect and is much more favorable now
than ii was few months ago. The man.
ager of the Havana branch of r. G. Dun
q Co., in report prepared Tor the inter-
national edition of Dun's Review, notes
that Cuba affords an attractive field for
the investment of foreign capital, and that
American capital IL particular Is flowing
into the island In increasing amounts. The
will be greatly strengthened by the COM
pletion of the Cuba Railroad, owned en-
tirely by American capitalists. and the
parent company the Cuba Company. is pre-
pairing in addition. a great American col
onization scheme. This concern has al
ready spent SIS, 10000 and is prepared to
spend much more In the carrying out Of its
schemes.
From Jan. 1 to March 81 51O522 tons of
sugar were received at Cuban ports, an
increase of 1900 tons over last years ag-
on hand March 81 was &c., 1886 tons,
against 407, 45S tons at the same date last
year. During January and February s7,3ol
tons were exported. A cargo of 5000 tons
has been sent to England. the first sugar
exported to the United Kingdom in fifteen
years. This, in spite of high freight
charges, has afforded better returns to the
shippers than if it had been sold in New
York. Another order for 1909 tons has been
reported. and also a number for small lots.
These latter, however, are too small for
direct shipment and cannot be accepted.
as the freight charges by way of New York
would be too large. At present London
cent a pound higher than those of New
York.
Cuba's imports now amount to over
sixty-five millions year, and are expected
within a few years to reach one hundred
millions or more, whether reciprocity with
the United States becomes an established
fact or not The proportion of imports
from the United States during the first six
months of 1902 was Al per cent. of the total;
during the first half of 1899 it was Sc per
cent. During the first half of 1902 Cuba's
exports amounted to $50, 600 100, as against
$31, 200 of imports.
Last month a bill was passed providing
for a national loan of $S5,0OO,OOO, most of
which will be used for paying the reyolu-
bonds shall not be issued at less price
than 80, and shall not bear a rate of interest
higher than per cent. They are to be re-
tired gradually within forty years. To pro-
vide the revenue necessary for the payment
of interest on this debt and its amortiza-
ton, tax will be levied on liquors, cigars,
cigarettes, ETC.. which, 1T is estimated, will
yield S2,5OO.OO0 a year, although doubt is ex-
pressed In some quarters whether 1t will
produce SO much. The President, however.
is authorized to pledge the customs re-
ceipts as additional security If such a
course should prove necessary. But 1T Is
well to note that the treasury balance,
which was less than a million dollars at
the time when the government was turned
over to the Cuban authorities, has in
creased, without any additional taxation, to
over three millions at the present time.
Altogether, the prospects of Cuban trade
are encouraging, in spite Of its being ham,
pered by uncertainty regarding the tariff.