Industrial Cuba: Being a Study of Present Commercial and Industrial Conditions, with Suggestions as to the Opportunities Presented in the Island for American Capital, Enterprise, and LabourPorter, Robert P. (Robert Percival)
History
Industrial Cuba: Being a Study of Present Commercial and Industrial Conditions, with Suggestions as to the Opportunities Presented in the Island for American Capital, Enterprise, and Labour
Porter, Robert P. (Robert Percival)
Cuba -- Description and travel; Cuba -- Economic conditions
According to these figures, the custom-house receipts of Cuba fell from
$14,708,509.10 in 1895 to $9,648,369.94 in 1897-98. While the value of
the tax receipts handed to the Spanish Bank for collection for the
fiscal year 1896-97 exceeded $5,000,000, the actual money collected was
only $3,266,583.37, while for the next fiscal year, 1897-98, out of
receipts aggregating in the neighbourhood of $4,500,000, only
$2,377,742.21 was realised. The exhibits show that rural real estate,
which, under prosperous conditions, should yield in taxes from $880,000
to $1,000,000, is incapable of paying anything. Out of receipts
aggregating in 1897-98 over $800,000, the Spanish Bank only collected
$89,661.98 from these properties. Nor will it be possible in the
reconstruction of the Island to secure revenue from these sources, for
the burned and destroyed estates are yielding nothing to their owners.
City property which, in times of prosperity, should yield upward of
$2,000,000, or even $3,000,000, in 1897-98 only yielded $1,140,230.12.
This tax, however, and the receipts from customs will be the first to
recover, as the immediate effects of permanent peace and honest
government will be felt in the cities and towns and seaports. Lotteries
will become a doubtful, if not impossible source of revenue. The
collections from internal revenue may keep up to the estimate, though
the income from State property and miscellaneous revenues seems upon
examination a rather doubtful resource for the new government to rely
upon. Judged from the actual revenue collected in 1897-98, had present
conditions prevailed, it is extremely doubtful if the real revenue
collected for 1898-99 would have reached more than half the rosy
estimates put forth by the Marquis Montoro. The fact is apparent to
those who know existing conditions in Cuba that the people of the Island
are just now in such an impoverished condition that the agricultural
interests are simply incapable of paying taxes.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account