Why should President Carlos Prío Socarrás have to borrow $100 million in the U.S. when there was plenty of money in Cuba? It was a question his enemies were bound to ask as soon as they heard about his proposed First Boston Corp. 3⅞% loan for public works (TIME, Aug. 15).
Carlos Prío had an answer. After he had held a two-hour conference with 15 Cuban bankers, his palace publicity office handed out a mimeographed statement signed by the bankers. "We want to contribute to the economic development of Cuba through mobilization of her own resources," it said. The bankers'...
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