“The first “public private partnership” between the US and Puerto Rico was the sugar cane industry.” .. yes and we know how it all turned out!! Remember “Domino’s Sugar”?
The first “public private partnership” between the US and Puerto Rico was the sugar cane industry.
The circumstances which forced it, the modus operandi of the US, and the tragic results for Puerto Rico are exactly the ones we see today.
The US “liberated” Puerto Rico from Spain in 1898. Later that same year, Hurricane San Ciriaco destroyed thousands of the island’s farms and nearly the entire year’s coffee crop. Of fifty million pounds, only five million were saved.
Destruction from Hurricane San Ciricao, 1899
American hurricane relief was bizarre. The US sent no money. Instead, the following year it outlawed all Puerto Rican currency and declared the island’s peso, whose international value was equal to the US dollar, to be worth only sixty American cents. Every Puerto Rican lost 40% of his or her money overnight.
In 1901, the US passed the Hollander Act, which raised the taxes on…
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