The Shadow of Barbosa: Reexamining Historical Memory of Early Twentieth-Century Puerto Rico

Total Page:16

File Type:pdf, Size:1020Kb

The Shadow of Barbosa: Reexamining Historical Memory of Early Twentieth-Century Puerto Rico The Shadow of Barbosa: Reexamining Historical Memory of Early Twentieth-Century Puerto Rico 1 2 Introduction Jose Celso Barbosa is important. In Puerto Rican history he is known as the father of Puerto Rican statehood, as a prócer,1 and the undisputed rival to Luis Muñoz Rivera, leader of what became known as autonomism and father to the first elected governor of Puerto Rico. I knew this going into my research on political history during Puerto Rico’s colonial transition, but as I immersed myself in the island’s history I was unable to build a strong image of Barbosa in my mind despite his many appearances in the literature. The key facts were there-that he was a leading figure, highly educated, of humble origins, and nearly universally respected, but I wasn’t seeing him nor hearing his voice. I was seeing his memory, his shadow. Despite the appearance of his name in books, histories and discussions of the time, he maintains a ghostly presence in popular and intellectual debates. I thus set out to historicize the place Barbosa occupies in Puerto Rican history, particularly his comparative marginalization vis-à-vis his rival Muñoz Rivera. During my research I worked in the collections at the University of Puerto Rico in Rio Piedras. I drove there on many mornings on the Avenida Baldorioty de Castro to a bridge that took me to Rio Piedras and the connecting highway. After a few minutes on the highway, I exited to an off-ramp and reached a stop light that hasn’t worked since at least late 2017. While I waited for my opportunity to merge into the lane alongside the cars crawling into the bisecting avenue, I always glanced at the upside-down, spray painted street sign that labeled this avenue as Avenida Barbosa. As soon as I saw an opening, I pounced to veer into the lane and drive up the avenue until I could glimpse the university. Passing-down bookstores and midcentury architecture I reached the main entrance of the university, several blocks parallel to Avenida Barbosa. There I saw the old façade of the university and its clock tower, with gates opening to 1 Similar to a “Founding Father” or “National Hero.” 3 the Avenida Universidad perpendicular to Avenida Ponce de Leon running the length of the universities front. The University gates almost stared down the Avenida Universidad; past student dorms, bookstores and trendy restaurants to the prominent Highway 1, the Avenida Luis Muñoz Rivera that runs parallel to the Avenida Barbosa. Roads are important in that they represent the honored past and industrial progress for Puerto Rico.2 The naming and purpose of roads serves to physically demonstrate the construction of historical memory as both a national and cultural project. The Avenidas named after Barbosa and Muñoz Rivera speak to the perceived relationship between these men, as does their relative positioning. Avenida Muñoz Rivera was built first, and it leads into the main entrance of the university, extending past the main commercial areas and into Old San Juan where it intersects with Avenida Baldorioty de Castro.3 Running though the city’s commercial center, this Avenida symbolizes the preeminence of Muñoz Rivera as a liberal leader and his connection to capitalist progress. On the other hand, Avenida Barbosa is nestled between parking lots and partially maintained greenery before continuing to Barrio Obrero, a poorer working class neighborhood, speaking to his connection to the working class. The juxtaposition of these two roads demonstrates the position of Barbosa in Puerto Rican history, and its distinct politicization in the twentieth century. His memory went through various phases of politicization from his death in 1921 to the present. In the decades immediately following his death, he was recognized as a leader on par with his rival Munoz Rivera in public discourse and popular culture.4 However, as the 2 Arcadio Díaz Quiñones, La Memoria Rota (San Juan, P.R.: Huracán, 1996), 34. 3 Baldorioty de Castro is the undisputed liberal leader of the late Spanish period in Puerto Rico. He is responsible for the liberal coalition and the transition from pursuing assimilation as an equal province into Spain to Autonomy under Spanish governance. 4 Carmen Marrero, El pensamiento de José Celso Barbosa (Hato Rey, P.R.: Esmaco, 1976). 4 relationship between the United States and Puerto Rico became more established yet remained colonial, the focus of politics shifted towards discussing the “status question.” This political shift necessitated a reimagining of the Puerto Rican identity and the foundations of political legitimacy. The politicization of Barbosa’s memory grew particularly potent following battles over Puerto Rico’s political status in the 1960s. At this time the three modern parties and their respective status proposals; autonomism, statehood and independence, were beginning to take on their modern form. The status question came to be the central issue of the political realm and the most distinguishing feature between the three parties. The greatest sources of this politicization were the PPD5 autonomists and nationalist independence factions during the popular and academic nation building project following the 1952 constitution. As a result, Barbosa disappeared from the historiography: his politics did not fit the assumptions underpinning Puerto Rico's relationship with the United States, and the dominant beliefs on the fundamental nature and course of the Puerto Rican people at the time. In this thesis, I argue that Barbosa and his contemporaries have been silenced in the Puerto Rican historiography due to the political developments over the last century that turned to history as a means of legitimization. Following the political shift towards a focus on status, and given the political dominance of the PPD, who claimed the mantle of autonomism, Barbosa was a threat to the PPD elite’s legitimacy. Barbosa and his ideology undermined many of the assumptions of the PPD state, including their views on capitalist progress, political participation and national identity while providing an alternative definition for autonomism and liberalism. Here I seek to understand Barbosa’s political vision in the context of his time: a moment in which Puerto Rico was undergoing radical changes in their relationship with Spain via liberal 5 Partido Popular Democrático 5 victories, where labor was beginning to organize, and new ideas were entering the island from the US, Cuba and the Atlantic world. Most fundamentally, in the early twentieth century figures like Barbosa were engaged in an intense debate over Puerto Rico’s future that was not solely restricted to the status question. This represented a moment of possibility in which the question was not whether independence, “autonomy” or statehood were possible, but rather how to define those terms in relation to Puerto Rico’s possible futures. Jose Celso Barbosa offers a particularly revealing point of entry onto the many other questions that informed such debates, from workers’ rights to education and democratization. He seems to contradict so much of what often defines the moment, being pro-urban, black and an advocate for statehood as opposed to the narrative of steady progress to the modern Puerto Rico. He is proof of an alternative. Proof that this moment between annexation in 1898 and the late 1910s is not simply a moment of transition, linearly moving to the 1950s, but instead a moment of possibility in which Puerto Rico was faced with a wide array of possibilities and options, stemming from both local and Federal choices. Historiography and Nation Formation through Historical Memory In 1898, the United States went to war with Spain and acquired their remaining colonial possessions in Puerto Rico and the Pacific Ocean. This marked the end of Spanish rule on the island, and was embraced by many as a new opportunity for Puerto Rico to continue their liberal projects. They had only just gained autonomy under Spain in the months before the war, where they maintained representation in the Spanish legislature, but enjoyed control over trade and tariffs as well as local governance via their elected legislature. This was the culmination of over a decade’s worth of effort on the part of elite creole leadership to establish a more favorable local government. The transition in 1898 represented a divergence, but there was a clear continuity in 6 leadership and ideologies past 1898, as well as a faith that annexation into the United States could mark the end of colonialism on the island. These late nineteenth-century debates within Puerto Rico’s political class echo earlier conversations in other parts of post-colonial Latin America. Across the region, independence from Spain during the early nineteenth century tended to represent the victory of creole and liberal advocates against peninsulares6 and Spanish loyalists. From these struggles emerged the leaders and ideas that would serve as the backbone of post-independence political leadership with the collapse of Spanish hegemony.7 However, in Puerto Rico, there is no post- independence, no revolutionary armed struggle, and not even a clear anti-colonial victory. Instead, these leaders based their legitimacy on short lived political achievements under Spain and claims to representing true liberalism. Liberalism as an ideology and political movement has a certain obviousness to it. Liberals want to expand individual freedom, are forward looking, and stand in contrast to conservatives. Under Spain this liberal vs conservative dichotomy worked well and liberals, despite differences, sought to unify for common goals. However, in the decades following annexation, peninsulares and Spanish loyalists seemed to have evaporated from the historiography. Suddenly, every political leader was a liberal and the struggle for legitimacy was one to become the heir of liberalism in the new era. The most relevant parties of the time were led by liberal leaders Barbosa and Muñoz Rivera.8 This characterized the struggle until around 6 The class of citizens in the New World that were born in the Metropolis and migrated to the colonies.
Recommended publications
  • Cancel Culture: Posthuman Hauntologies in Digital Rhetoric and the Latent Values of Virtual Community Networks
    CANCEL CULTURE: POSTHUMAN HAUNTOLOGIES IN DIGITAL RHETORIC AND THE LATENT VALUES OF VIRTUAL COMMUNITY NETWORKS By Austin Michael Hooks Heather Palmer Rik Hunter Associate Professor of English Associate Professor of English (Chair) (Committee Member) Matthew Guy Associate Professor of English (Committee Member) CANCEL CULTURE: POSTHUMAN HAUNTOLOGIES IN DIGITAL RHETORIC AND THE LATENT VALUES OF VIRTUAL COMMUNITY NETWORKS By Austin Michael Hooks A Thesis Submitted to the Faculty of the University of Tennessee at Chattanooga in Partial Fulfillment of the Requirements of the Degree of Master of English The University of Tennessee at Chattanooga Chattanooga, Tennessee August 2020 ii Copyright © 2020 By Austin Michael Hooks All Rights Reserved iii ABSTRACT This study explores how modern epideictic practices enact latent community values by analyzing modern call-out culture, a form of public shaming that aims to hold individuals responsible for perceived politically incorrect behavior via social media, and cancel culture, a boycott of such behavior and a variant of call-out culture. As a result, this thesis is mainly concerned with the capacity of words, iterated within the archive of social media, to haunt us— both culturally and informatically. Through hauntology, this study hopes to understand a modern discourse community that is bound by an epideictic framework that specializes in the deconstruction of the individual’s ethos via the constant demonization and incitement of past, current, and possible social media expressions. The primary goal of this study is to understand how these practices function within a capitalistic framework and mirror the performativity of capital by reducing affective human interactions to that of a transaction.
    [Show full text]
  • Redalyc.MOBILIZATION, PARTISANSHIP, and POLITICAL
    Caribbean Studies ISSN: 0008-6533 [email protected] Instituto de Estudios del Caribe Puerto Rico Wright, Micah MOBILIZATION, PARTISANSHIP, AND POLITICAL PARTY DYNAMICS IN PUERTO RICO, 1917-1920s Caribbean Studies, vol. 42, núm. 2, julio-diciembre, 2014, pp. 41-70 Instituto de Estudios del Caribe San Juan, Puerto Rico Available in: http://www.redalyc.org/articulo.oa?id=39240402002 How to cite Complete issue Scientific Information System More information about this article Network of Scientific Journals from Latin America, the Caribbean, Spain and Portugal Journal's homepage in redalyc.org Non-profit academic project, developed under the open access initiative MOBILIZATION, PARTISANSHIP, AND POLITICAL PARTY DYNAMICS... 41 MOBILIzATION, PARTISANShIP, AND POLITICAL PARTy DyNAMICS IN PUERTO RICO, 1917-1920s Micah Wright ABSTRACT This article posits the significance of Selective Service and WWI for reshaping colonial administration and political party dynamics in Puerto Rico. It examines the aspirations of significant political groups on the island and details how each attempted to use the draft to further their agendas. During the war each of the three major political parties in Puerto Rico—Unionists, Republicans, and Socialists—struggled to claim the U.S. cause as their own in order to attract Washington’s support for both a specific party and its favored solution to the status question. At the same time, the colonial administration and metropoli- tan authorities used the war to reshape the colonial relationship—but in contradictory ways. Rather than following the trend in the recent historiography that stresses the essential continuity in political practice after the war, this article highlights the changes that set the stage for the political and social upheaval of the 1920s.
    [Show full text]
  • Transnational Anarchism, Anti-Imperialism and US Expansion in the Caribbean, 1890S-1920S Kirwin R
    Transnational Anarchism and US Expan- sion in the Caribbean Soldiers, Priests and the Nation in Spain and New Spain Contesting Internationalists: Transnational Anarchism, Anti-Imperialism and US Expansion in the Caribbean, 1890s-1920s KIRWIN R. SHAFFER Penn State University – Berks College, Reading, PA Introduction By the early 1900s, anarchists penetrated the far corners of the Western Hemisphere. In Cuba, Puerto Rico, and Panama, activists—like their comrades everywhere—struggled to create their own anarchist visions of a free society for all, regardless of race, ethnicity, nationality or gender. To accomplish this, anarchists challenged the power structures of society: capital, church and state. In Cuba, Luis Barcia, Adrián del Valle, Marcelo Salinas and Antonio Penichet, in Puerto Rico, Juan Vilar, Emiliano Ramos, and Ventura Mijón, and in Panama, M.D. Rodríguez, Aquilino López and José María Blázquez de Pedro always thought of themselves as internationalists. They rejected nationalist and patriotic rhetoric that they believed falsely divided humanity for the material and political interests of a few elite. As such, they saw their local and national struggles as part of a global anti-authoritarian movement. The post-1898 Caribbean offered new opportunities for this global move- ment. However, Caribbean-based anarchists faced two situations unique to anarchists in Latin America. First, at this time Cuba, Puerto Rico and Panama were transitioning away from political control by other countries decades after the rest of Latin America: Cuba and Puerto Rico from Spain, Panama from Colombia. This new political opening offered anarchists fertile terrain to shape [email protected] E.I.A.L., Vol.
    [Show full text]
  • Political Status of Puerto Rico: Options for Congress
    Political Status of Puerto Rico: Options for Congress R. Sam Garrett Specialist in American National Government June 7, 2011 Congressional Research Service 7-5700 www.crs.gov RL32933 CRS Report for Congress Prepared for Members and Committees of Congress Political Status of Puerto Rico: Options for Congress Summary The United States acquired the islands of Puerto Rico in 1898 after the Spanish-American War. In 1950, Congress enacted legislation (P.L. 81-600) authorizing Puerto Rico to hold a constitutional convention and in 1952, the people of Puerto Rico ratified a constitution establishing a republican form of government for the island. After being approved by Congress and the President in July 1952 and thus given force under federal law (P.L. 82-447), the new constitution went into effect on July 25, 1952. Puerto Rico is subject to congressional jurisdiction under the Territorial Clause of the U.S. Constitution. Over the past century, Congress passed legislation governing Puerto Rico’s relationship with the United States. For example, residents of Puerto Rico hold U.S. citizenship, serve in the military, are subject to federal laws, and are represented in the House of Representatives by a Resident Commissioner elected to a four-year term. Although residents participate in the presidential nominating process, they do not vote in the general election. Puerto Ricans pay federal tax on income derived from sources in the mainland United States, but they pay no federal tax on income earned in Puerto Rico. The Resident Commissioner may vote in committees but is not permitted to vote in, or preside over, either the Committee of the Whole or th the House in the 112 Congress.
    [Show full text]
  • Guide to Theecological Systemsof Puerto Rico
    United States Department of Agriculture Guide to the Forest Service Ecological Systems International Institute of Tropical Forestry of Puerto Rico General Technical Report IITF-GTR-35 June 2009 Gary L. Miller and Ariel E. Lugo The Forest Service of the U.S. Department of Agriculture is dedicated to the principle of multiple use management of the Nation’s forest resources for sustained yields of wood, water, forage, wildlife, and recreation. Through forestry research, cooperation with the States and private forest owners, and management of the National Forests and national grasslands, it strives—as directed by Congress—to provide increasingly greater service to a growing Nation. The U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race, color, national origin, age, disability, and where applicable sex, marital status, familial status, parental status, religion, sexual orientation genetic information, political beliefs, reprisal, or because all or part of an individual’s income is derived from any public assistance program. (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA’s TARGET Center at (202) 720-2600 (voice and TDD).To file a complaint of discrimination, write USDA, Director, Office of Civil Rights, 1400 Independence Avenue, S.W. Washington, DC 20250-9410 or call (800) 795-3272 (voice) or (202) 720-6382 (TDD). USDA is an equal opportunity provider and employer. Authors Gary L. Miller is a professor, University of North Carolina, Environmental Studies, One University Heights, Asheville, NC 28804-3299.
    [Show full text]
  • Community Matters.” Groups Meet Sat., Aug
    thus far raised over $1,500 for her $2,000 goal. You can see the riders’ profile and support them by making a donation on their behalf by visiting https://yourpelotonia.org or http://pelotonia.org. Community 10th Global Big Latch-On (8/2) Big Latch-On is an international organization that promotes breastfeeding and supports mothers who breastfeed. The local chapter is celebrating the 10th Global Big Latch-On on Fri., Aug. 2 (10 am) at the Veterans Park Splash Pad on the YMCA grounds, 1121 S. Matters Houk Rd. The big latch-on starts at 10:30 am sharp (late arrivals cannot participate) and is followed by a Breastfeeding Welcome picnic. Please RSVP to Liz Prothero, 740-203-2057. To learn more, visit www.biglatchon.org. The event is also part of Ohio’s A Voice of, by, and for the People Breastfeeding Awareness Month. of Delaware, Ohio First Friday (8/2) First Friday’s theme is “Cops and Shops.” The 6-9 pm event celebrates Delaware’s law enforcement agencies. There will be police vehicles to explore (and probably a few horses as well). Free food is August 2019 available while supplies last. Rock, blues, and pop music is provided by Delaware’s own Twisted Britches band, consisting of Mike Vol. 5, no. 2 Dummitt, Jeff Brown, Zack Long & Nick DeFrancisco. Once again, a shuttle bus will circulate to and from Hayes Bldg. (145 N. Union St.) every 15 min. A staffed bike corral is set up at the corner of N. Send info, articles, questions & comments to Sandusky & Central Ave.
    [Show full text]
  • A Case Study of Participatory Action Research in Puerto Rico Aurora Santiago Ortiz
    OSSERVATORIO/OBSERVATORY Mapping Collaboration as Resistance to Neoliberalism: A Case Study of Participatory Action Research in Puerto Rico Aurora Santiago Ortiz Abstract La ricerca-azione partecipativa (RAP) è una metodologia di ricerca e una forma non gerarchica di produzione di conoscenza che riunisce partecipanti provenienti dal mondo accademico e dalla comunità locale in un partenariato di ricerca collaborativa che mira alla trasformazione sociale. In questo contributo discuto uno studio qualitativo della durata di un anno che ho condotto in un campus universitario pubblico a Cayey, Porto Rico, esaminando etnograficamente il rapporto di collaborazione tra le persone coinvolte in un processo di PAR. Il contesto della ricerca era un corso interdisciplinare che ho tenuto durante l’anno accademico 2019-2020. Nel contributo, discuto alcune delle sfide della PAR in un contesto istituzionale precario e metto in evidenza i modi in cui il gruppo di ricerca ha superato questi ostacoli. Di fronte a una recessione iniziata nel 2006 e all’imposizione di un Consiglio di Amministrazione e Controllo Fiscale da parte del Congresso degli Stati Uniti, l’esistenza dell’unica università pubblica di Porto Rico è minacciata da drastici tagli di bilancio. Sostengo l’importanza della collaborazione e della solidarietà nel contesto della realtà fiscale, sociale e politica di Porto Rico. Participatory action research (PAR) is both a research methodology and nonhierarchical form of knowledge production that brings together participants, from academia and outside communities, in a collaborative research partnership that seeks social transformation. Drawing on fieldwork spanning the 2019-2020, I present a case study of an interdisciplinary undergraduate research course I taught at a campus of Puerto Rico’s only public university.
    [Show full text]
  • Henry Barracks Military Reservation1: the Evolution of a Military Facility to Public Lands
    1 Henry Barracks Military Reservation1: The evolution of a military facility to public lands James J. Prewitt Diaz, MA, MS2 & Joseph O. Prewitt Diaz, PhD3 1 A former Military Installation located in Cayey, Puerto Rico. 2 Mr Prewitt Diaz has been studying how geographical areas have been used and re-used as population changes, natural and humanitarian disasters have occurred, and as modernization has taken place. He has a special interest in the evolution of Cayey, as a results he has collected maps, photographs and images over the last fifty years. 3 Dr. Prewitt Diaz is a researcher with experiential knowledge on the Henry Barracks Military Reservation having spent over thirty years doing different activities on the Reservation and the town of Cayey. © 2015 James J. Prewitt Diaz, MA, MS & Joseph O. Prewitt Diaz, PhD 2 Henry Barracks Military Reservation4: The evolution of a Military facility to Public Lands Abstract This paper provides a historical overview of the geographic evolution of the Henry Barracks Military Reservation located in the proximity of the town of Cayey, Puerto Rico (1898 to 1967). The public lands became the University of Puerto Rico-Cayey (UPR-Cayey), the municipality of Cayey, private housing, and the municipality. The paper is divided into four major segments: (1) the Spanish Barracks (1897-1898), (2) Camp Henry (1899-1912), (3) The Cayey Naval Radio Station (1914-1932), (4) Henry Barracks Army Post 1910-1962). The researchers relied on interviews, pictures, and narratives of key informants that either lived, grew-up or used the facilities of Henry Barracks Army Post.
    [Show full text]
  • “Orgulloso De Mi Caserío Y De Quien Soy”: Race, Place, and Space in Puerto Rican Reggaetón by Petra Raquel Rivera a Disser
    “Orgulloso de mi Caserío y de Quien Soy”: Race, Place, and Space in Puerto Rican Reggaetón By Petra Raquel Rivera A dissertation submitted in partial satisfaction of the requirements for the degree of Doctor of Philosophy in African American Studies in the Graduate Division of the University of California, Berkeley Committee in charge: Professor Percy C. Hintzen, Chair Professor Leigh Raiford Professor Joceylne Guilbault Spring 2010 “Orgulloso de mi Caserío y de Quien Soy”: Race, Place, and Space in Puerto Rican Reggaetón © 2010 By Petra Raquel Rivera Abstract “Orgulloso de mi Caserío y de Quien Soy”: Race, Place, and Space in Puerto Rican Reggaetón by Petra Raquel Rivera Doctor of Philosophy in African American Studies University of California, Berkeley Professor Percy C. Hintzen, Chair My dissertation examines entanglements of race, place, gender, and class in Puerto Rican reggaetón. Based on ethnographic and archival research in San Juan, Puerto Rico, and in New York, New York, I argue that Puerto Rican youth engage with an African diasporic space via their participation in the popular music reggaetón. By African diasporic space, I refer to the process by which local groups incorporate diasporic resources such as cultural practices or icons from other sites in the African diaspora into new expressions of blackness that respond to their localized experiences of racial exclusion. Participation in African diasporic space not only facilitates cultural exchange across different African diasporic sites, but it also exposes local communities in these sites to new understandings and expressions of blackness from other places. As one manifestation of these processes in Puerto Rico, reggaetón refutes the hegemonic construction of Puerto Rican national identity as a “racial democracy.” Similar to countries such as Brazil and Cuba, the discourse of racial democracy in Puerto Rico posits that Puerto Ricans are descendents of European, African, and indigenous ancestors.
    [Show full text]
  • Chapter Four: Habitat, Fish, and Wildlife Action Plan
    CHAPTER FOUR: HABITAT, FISH, AND WILDLIFE ACTION PLAN LL LL L AA AA A Enhance and maintain an ecosystem which supports an optimum OO OO O diversity of living resources on a sustained basis. GG GG G Preserve and restore ecologically important habitat. 1 Action Page 126 Plant mangroves along the western shoreline of San Juan Bay. BJECTIVE HW-1 O HW-2Action Restore seagrass beds in the Condado Lagoon. Page 128 HW-3Action Plant mangroves along the shores of the Condado Lagoon. Page 131 Action Designate a section of the Martín Peña Channel and lands adjacent to Page 133 HW-4 the Puerto Nuevo River as a Nature Reserve. Action Plant mangroves along the shores of the San José and Los Corozos Page 136 HW-5 Lagoons. Action Designate the Torrecilla Alta-Vacía Talega area as part of the Piñones Page 138 HW-6 State Forest Nature Reserve. 124 Management Plan July 2000 HW-7Action Restore seagrass beds within the SJBE. Page 141 HW-8Action Designate Las Cucharillas Marsh as a Nature Reserve. Page 143 Protect species relative abundance and diversity. 2 Action Establish management measures within the SJBE system for the land Page 146 BJECTIVE HW-9 crab Cardisoma guanhumi. O HW-10Action Implement a sea turtle recovery plan. Page 149 HW-11Action Assess the impacts of power plant entrainment on fishery resources. Page 152 Action Assess the impact of thermal discharges on biological communities in Page 154 HW-12 San Juan Bay. HW-13Action Enhance and protect critical plant species within the SJBE. Page 156 Action Protect existing populations of endangered and threatened bird species Page 159 HW-14 and protect and restore their habitat within the SJBE system.
    [Show full text]
  • Title Goes Here
    AN INTERNATIONAL FINANCIAL ENTITY licensed in the US territory of Puerto Rico TABLE OF CONTENTS . About Puerto Rico . Offshore banking industry . Outline of Puerto Rico’s international banking license . Benefits of Puerto Rico . Capital requirements . Tax and employee considerations A BIT OF HISTORY ON PUERTO RICO . Puerto Rico (Spanish for "Rich Port"), officially the . As residents of a U.S. territory, American citizens in Commonwealth of Puerto, is a territory of the Puerto Rico are disenfranchised at the national United States located in the northeast Caribbean level and do not vote for president and vice Sea with a population of 2.2 million. president of the U.S, nor pay federal income tax on Puerto Rican sourced income. Puerto Ricans have been citizens of the United States since 1917 and enjoy freedom of movement . Puerto Rico is thus free to create their own tax between the island and the mainland. laws, which, in turn, allowed the territory to create the most efficient banking statute in the world. As it is not a state, Puerto Rico does not have a vote in the United States Congress . Banks on the island are regulated by the Puerto Rico Office of the Commissioner of Financial Institutions (OCIF). And OCIF is regulated by the US Federal Reserve. INDUSTRY REVIEW . The offshore banking industry has been contracting for about 6 years. For example, the Cayman Islands has gone from 250 banks to about 150 in the last two years. Belize has not issued a new license in 6 years and not a single internationally licensed bank in Dominica is operating.
    [Show full text]
  • Puerto Rico Hearing Committee on Energy And
    S. HRG. 109–796 PUERTO RICO HEARING BEFORE THE COMMITTEE ON ENERGY AND NATURAL RESOURCES UNITED STATES SENATE ONE HUNDRED NINTH CONGRESS SECOND SESSION ON THE REPORT BY THE PRESIDENT’S TASK FORCE ON PUERTO RICO’S STATUS NOVEMBER 15, 2006 ( Printed for the use of the Committee on Energy and Natural Resources U.S. GOVERNMENT PRINTING OFFICE 33–148 PDF WASHINGTON : 2007 For sale by the Superintendent of Documents, U.S. Government Printing Office Internet: bookstore.gpo.gov Phone: toll free (866) 512–1800; DC area (202) 512–1800 Fax: (202) 512–2250 Mail: Stop SSOP, Washington, DC 20402–0001 VerDate 0ct 09 2002 07:56 Mar 02, 2007 Jkt 109796 PO 33148 Frm 00001 Fmt 5011 Sfmt 5011 P:\DOCS\33148.TXT SENERGY2 PsN: PAULM COMMITTEE ON ENERGY AND NATURAL RESOURCES PETE V. DOMENICI, New Mexico, Chairman LARRY E. CRAIG, Idaho JEFF BINGAMAN, New Mexico CRAIG THOMAS, Wyoming DANIEL K. AKAKA, Hawaii LAMAR ALEXANDER, Tennessee BYRON L. DORGAN, North Dakota LISA MURKOWSKI, Alaska RON WYDEN, Oregon RICHARD M. BURR, North Carolina, TIM JOHNSON, South Dakota MEL MARTINEZ, Florida MARY L. LANDRIEU, Louisiana JAMES M. TALENT, Missouri DIANNE FEINSTEIN, California CONRAD BURNS, Montana MARIA CANTWELL, Washington GEORGE ALLEN, Virginia KEN SALAZAR, Colorado GORDON SMITH, Oregon ROBERT MENENDEZ, New Jersey JIM BUNNING, Kentucky FRANK MACCHIAROLA, Staff Director JUDITH K. PENSABENE, Chief Counsel BOB SIMON, Democratic Staff Director SAM FOWLER, Democratic Chief Counsel JOSH JOHNSON, Professional Staff Member AL STAYMAN, Democratic Professional Staff Member (II) VerDate 0ct 09 2002 07:56 Mar 02, 2007 Jkt 109796 PO 33148 Frm 00002 Fmt 5904 Sfmt 5904 P:\DOCS\33148.TXT SENERGY2 PsN: PAULM C O N T E N T S STATEMENTS Page Acevedo-Vila´, Hon.
    [Show full text]