However, the production of beet-root sugar and the increase of cane
cultivation in the East[72] caused the fall in prices which, in
combination with the numberless oppressive restrictions imposed by the
Spanish Government, brought Puerto Rico to the verge of ruin.
"The misfortunes that afflict us," says Mr. James McCormick to the
Provincial Deputation in his official report on the condition of the
sugar industry in this island in 1880, "come under different forms
from different directions, and _every inhabitant knows what causes
have contributed to reduce this island, once prosperous and happy, to
its actual condition of prostration and anguish_."
That condition he paints in the following words: "Mechanical arts and
industries languish because there is no demand or profitable market
for its products; commerce is paralyzed by the obstacles placed in its
way; the country never has had sufficient capital and what there is
hides itself or is withdrawn from circulation; foreign capital has
been frightened away; Puerto Rican landowners are looked upon with
special disfavor and credit is denied them, unfortunately with good
reason, seeing the lamentable condition of our agriculture. The
production of sugar scarcely amounts to half of what it was in former
years. From the year 1873 a great proportion of the existing sugar
estates have fallen to ruin; in 8 districts their number has been
reduced from 104 to 38, and of these the majority are in an agonizing
condition.
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