TIME
July 9, 1934. p. 20.
The spunky young Cubans who procreate their
country's best revolutions and call themselves the ABC were in virile mood last
week, threatening to make things pop.
"This is most unfair. This is most unjustified,"
whined that old dog of Cuban politics President Carlos Mendieta as the four ABC
members of his Cabinet abruptly withdrew. Their desertion left sly Dr.
Mendieta, who could find his way blindfolded to the U.S. Embassy, more than
ever dependent on, his “good neighbor” in the White House. Obligingly President
Roosevelt decreed last week an embargo which will stop all shipments of U.S.
munitions to Cuba except munitions requested by the Cuban Government for
the shipment of which the U.S. State Department will issue licenses.
With a balance of $3,600,000 remaining due on the
$9,000,000 J. P. Morgan & Co. loan to Cuba, Partner Thomas S. Lamont was in
Havana last week. He seemed to set off no fireworks by proposing to the
Mendieta Government repayment at the rate of $900,000 each July 1. Fortnight
ago all Cuba cheered a Government commission which cracked down on Chase
National Bank by advising President Mendieta to repay nothing on Chase's share
of $60,000,000 worth of bonds floated in the U. S.-‑advice as to which
the President prudently made no comment.