Next in importance to the fiscal laws for the revenue of the Island comes the currency question. No country can be permanently prosperous unless its currency is sound and its credit good. Bad financial management of state affairs begets bad credit, and impaired credit is the forerunner of depreciated currency. Although Cuba is afflicted with many kinds of depreciated currency, the established basis is strictly gold, and in any commercial engagement the value is understood to be in Spanish gold, unless there is a specification to the contrary. Indeed, there is something almost pathetic in the manner in which Cuba, though plundered and depleted of her resources and wealth, has never wavered from the gold standard. The business interests of the Island are, as the author found, unanimously in favour of a continued gold basis; for the Cubans have suffered so much from Spain's various attempts to force upon the people a depreciated currency, both in the form of silver and bank bills, that they want no further experiments with the currency. The Spanish silver money current in the Island is taken at the daily value only, which is fixed, partly by the larger or smaller demand for wages and necessities of the Government to pay troops, but principally by the continually fluctuating value of the Spanish money in the European markets. As this Spanish silver is legal tender in Spain for its face value, it is able to maintain a fictitious value for purposes of shipment to that country. This silver dollar, therefore, fluctuates in value with the fitful changes in Spain's credit, and it is probable, should the United States establish American currency as sole legal tender for the Island of Cuba, that all the Spanish silver dollars will be shipped to Spain. There was in Cuba during the last months of Spanish control a margin of thirty per cent. on the silver dollars. It is not probable that these dollars will go down to a point where it will not pay to ship the Spanish silver to Spain and utilise the American dollar in Cuba. In this event the United States Government will, of course, ship its own silver dollars to Cuba; which, with the subsidiary coins, will be required for small payments. At Santiago the immediate disappearance of Spanish dollars and minor coins has made small transactions extremely difficult. Some think that the present stock of Spanish silver in the Island exceeds the necessities; but however this may be in the western part of the Island, it was evidently not the case in Santiago. [Illustration: BATEY OF SANTA CATALINA.]