New Taxes and Currency to Meet Fiscal Demands Havana, June 26.
The gravest financial crisis in the history of Cuba is imminent, Parliamentary circles declared today in voicing their growing fears.
Meanwhile, the Senate and Chamber, bowing before Colonel Batista's majority, have voted several taxes and also a law authorising President Federico Laredo Bru to issue new Currency to the extent of 57,000,000 pesos, of which 37,000,000 is in paper bank notes while the rest is in silver coins, President Laredo Bru introduced these measures in an effort to face the expenditure items not includec in the budget for the 1937-1938 fiscal year.
The new taxes voted through include extra rates on the sugar industry, already over-taxed, on the selt industry and on cinemas. As result of the present policy followed here, Cuban capital has become scarce and foreign capital is "frozen".—Havas.
Text read from the printed page and cleaned; old type leaves the occasional error.