The Montgomery advertiser., 1906-10-21

plantations in the island are capable of producing one-third the total output of the republic. There are also hun dfeds of Americans who have deserted our own farm lands ana gone into Cuba as fruit and cocoanut farmers Nothing like a satisfactory estimate of the value of these small holdings can be obtained. but they are believed to very nearly or quite equal in ths az gregate the larger individual invest ments in the railroad, tobacco and sugar plantations.
 American capital controls absolute ly the electric traction of the island, the telephone and telegraph service. practically all of the railroads in the 1 eastern half of Cuba, about half of the tobacco industry, and a quarter of the sugar output. besides having something over $10.00o.000 invested in real estate and unimproved lands, with c total holding of over 4,000,0Ou acres. Twen- ty-nine American colonies have been established in Cuba since the close of the war. In the extreme western pro- vince of Pinar del Rio there are eight of these colonies: in Havana province one; in Matanzas. two: in Santa Clara. one; in Puerto Principe, five; in Sam tiago de Cuba, ten; in the Isle of Pines, one.
 The most important single enter prise. however, Is that of the Cuba Company, a New Jersey corporation, at the head of which Is Sir William Van Horne, a native of Illinois. who was knighted by Queen Victoria in recogni- ton of his work in building the Cana dian Pacific Railroad. This company alone owns about half a million acres of land. and has invested some $1S.- 000,000 in a trunk line railroad, which, with its various connections. extends from one end of the island to the oth- CT. The road affords communication between Havana, the chief northwest ern port, and Santiago. the chief south western port, in thirteen hours in- stead of the many days formerly re- quired to make the Journey half round the island by steamer.
 The entire eastern end of Cuba is controlled industrially by Americans. but 1t is in Havana that the results of American influence are most immedi- ately and conspicuousiy apparent to the casual tourist, and 1t was in Ha- vana. naturally. that these influences were first felt. First and most impor- tant among them was tho reform in the financial and currency systems Of the country, which made 1t possible for foreign capital 70 find safe and profitable investment there. When the American occupation began. the cur rency of the island, in addition to some twenty millions of dollars Tn Spanish paper, only very inadequately secured by deposits of silver. consisted Of Spanish, American and Mexican coins, which circulated with equal freedom and to the great confusion of strang- CTS.
 American and British gold and paper were at premium ab0vo Spanish goid, and at a still greater premium above the silver. while paper money had a different and still lower value. There were only two chartered banking in- stitutions in the island. one of them. the Spanish Bank of Cuba. an agency of the Bank of Spain in Madrid. wnicn had headquarters in Havana and branches in all the larger cities had also the exclusive right to issue public notes. and was collecting agent for the