The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1912-01-09
PORTO RICO In 1912
WHAT UNCLE SAN is DOING WITH THE WHITE
MAN, BURDEN
BY Frank C. Carpenter.

per cent or more than SD. 0oo, 900.
United States during that time more
$4,000, 900 worth Of American
goods, n they sold almost that mucn
of their home produce to US. AS II
is now there are only six or light
countries Of the world to which We
sell more than We do to Porto Rico,
and these are the United Kingdom.
and Italy. The Porto Iticans buy
from US more than does either Rus
STA, Spain. Austria, China. Japan, or
! turkey. fake out the Argentine, aud
they buy more than all South .Amerl-
ca. They buy three times as much as
the British East Indies, and far more
than either Japan or China. Their
trade is worth ABOUT twice IA Of At
rlca n a great deal more than that
OF the Philippines. Moreover, the
business is steadily growing, and it
increased more than $4,000 900 IN
1910.
AS to the home business of the
country, that IS exceedingly prosper
Gus. Thirty-tWO new corporations
We're organized last year, and the
yeaF before that there We're Q
tnan a hundred home corporations in
existence. with an authorized capital
OF $4,000, 600. While the foreign cor
p~oratlOnS registered had an autnor-
lied capital of $500. goo, 600, with "a
i,ald-in capital of over $4,000, 900.
Last year twenty-five new foreign
corporations were organized, and
their capital was S11, 900, 0o0.
The Wealth Of the Porto Ricans.
When L was in Porto Rico the reO-
pie were taxed to death. The assess
ments We're high and everything
under the sun lac to pay. Today the
taxes nave been cut down and the
assessments are comparatively low.
NeNe1thelesS the value of the prop
erty has enormously increased. 1t is
now assessed at s121, 000, 900, and this
is estimated to be s75,OO0,oOO below
the actual value. The per capita
wealth of the island is now about
$500. or $1,000 per family OF five
lake a tropical island where, on the
average. if the wealth were divided
every family would receive $1,000
and Q ave the conditions as they
now are in Porto Rico.
Nevertheless the public debt is eA.
ceedingly small. Further on | shall
snow you what the people have beer
DONG IN improving their roads, il
establishing chOOlS and in other pub
uc works. Notwithstanding all tina
the net debt today is only a little owe
$4,000, 600. 1t is less than 5 per cen
OF the actual value of the property
and 1t represents an Indebtedness
per head Of less than 81, whereas ou
average Indebtedness per head, til,
United states over, is $58. True fig
ures do not lie, and | am told thes
figures are true.
They Pay Their Taxes.
Moreover, when the people are we.
OF they pay their taxes. When the
are not doing we'll they let them run
AT the close of this year how niue
or the X Of hat island do 20
think We're unpaid? Two per cent
Three per cent? Five per cent? Nc
Not | per cent. The treasurer report
that only On~e-sixteenth of one DC
cent Of the taxes are hehindhand. an
+ he expects to cut this out in the ne,
report.
The same healthy condition
shown in the banks. At the time "
took hold the most Of the banking VIZ
:, done by the Spaniards, and the inte1
: est rates ran as high as IS per cen
, Today they are comparatively low an
good loans are made at Z and s Dc
= cent. The banks have increased
> number and the business is now dor
by Americans, Porto Ricans, Spar
lards and Canadians. There are mir
! large banks, and they have altogeth.
y cash Of about 100000
n while their deposits amoun to close
Q $4,000. 600. Among the banks a,
q two Canadian institutions which he
been established since we took ov
II the island. One is a branch of IL
n Royal Bank of Canada, and anoth,
that Of the Bank Of Nova Scotia. I'll
latter was organized in 1910.
q Big Honey in Sugar.
All the big industries of the isla1
are growing. Sugar has always pa
better n anything else, and tina
% the condition to-day. In 1910 the va
ue Of the crOp was more thai 50:
2 0O0, 600, n it represented about
per cent of all the exports. At tn
IS time the island sold enough to 81
IF six bounds to every man, 81
child in the United States, with
~ valance sufficient to furnish q taft
l. pulling for millions.
&c The sugar plantations form a gre