The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-09-17

ii has already ten branch banks In the
different cities. and it will soon increase,
these To fifteen This bank assrhosen
az the depository OF the Cuban funds
when General Wood was Governor: and 1t
may still be called the government bank
Of Cuba, its title being lei Banco Ma
cional.''
Three Millions in Sight.
i lad a letter from MIR. Flnther, the
CASHIER OF Riggs National Bank at Wash
ington. TO the managers of the National
Bank. and upon presenting It asked 70
be shown over the establishment. Ihis
was done. even to the vaults where l
saw what would be rather surprising
sight In almost any bank OF the United
States. The Vaults as big rs Il hall bed
ROOM and is walled with pigeon holes ana
shalves These were filled with green
backs and yellO wbacks, in the sood money
OF our own Uncle sam. The notes were
OF all denominations from 81 to 5000 eacn'
and some single bundles contained Slyo,oN.
A counting had just been made OF me
funds on hand, and 1t showed 81, Gooolo IN
%ihcsn notes on the floor under TIE
shalves were stncks of canvas bags, Il
foot long and six inches wide, fllled
With Spanish gold. Each bag contained
$1,000 in coins. lifted one and It took
all nv strength to raise 1t. There WIS
n million and d half dollars worth OF
gold on the floor Of that vault. ana "
contents. altogether amounted 70 more
q than So. 900, COOS
rubn. Is d land Of big things. mas
millions as the basis OF us illuusllie S.,
and 1t does business in the large e., -
has plantations worth fortunes, I,i'ilo,,-
dollar sugar mills and pans pans M W. cn ,i
=,
try is in It's infancy as. far as such
things are concerned There are no saw
iinEs hanks yet and no deposit vaults :
I do not know that there are an any tfu Us,
companies, and there are not,nset ,me
exploitation companies with. millions pe-
hind them which are bound to ocme III
the building up of the island
Bankingin Cuba.
While was in FL Banco Nacional met
Mr., Samuel NJ JAWS. Of New York. one
of the vice-prcsdents Of the BANK VINO
is temporarily stopping in Cuba, looking
after his large interests here, ana asked
him to tell me something about bank
Ing conditions Said he:
Cuba has q curious history as regards
banking. Before the war the chief finan-
c!al instit ion was the Bank or SPAN,
which had its branches scattered over
the island, with Il central Office at Ia
vana, This bank was the hscal aseNt
of the government. 1t Issued HoSeiii-s
ment notes, collected the taxes, and also
did a general banking business. 1t not
only issued notes, but at times II COM
PEELED the merchants TO take them TO
such an extent that Its notes are NOW
worth only four or five cents on the
dollar. Such transactions brought bnnk-
Ing into bad repnte, and for time after
tho war the people We're afraid to trust
their money to any bank. I know OF
men who had payments OF from ono
hundred to one hundred and fifty thou
sand dollars to make, who brought tho
money in gold coin In bags to their
creditors and counted 1T over. They
hud no repositories and they would not
trust to checks or drafts. AT that time
tho merchants acted largely as the bank
crs, and there were also private banks.
Such still exist.
'"ro-day this dlstrust has largely dis
appeared. We have already about SIX
thousand open accounts and tho govern
mont payments of the NEUTRALITY-SUSPICIOUS.
dollar loan to the soldiers are largely
in checks upon us, The. people often
hold such checks for months before cash
ing them, showing that they have I'M
plicit faith IN heir value"
Cuban Stocks and Bonds, II
"What is the condition OF Cuba flnnn-
cialy?'
1T is i excellent replied Mr.. Jarvis,
E"and 1t will continue 10 Improve, Tho
government is safe and Its lcintlon to the
United States Is such tina t in case OF q
revolution which ] do not tlllE possible,
the island would probably l.a taken over
sby lie United States, This M',u'l make