The First Savings Banks in Latin America: Cuba and Puerto Rico (1840-1898- Angel Pascual MARTINEZ SOTO March 2011 World Savings Banks Institute - aisbl – European Savings Banks Group – aisbl Rue Marie-Thérèse, 11 ■ B-1000 Bruxelles ■ Tel: + 32 2 211 11 11 ■ Fax: + 32 2 211 11 99 E-mail: first
[email protected] ■ Website: www.savings-banks.com THE FIRST SAVINGS BANKS IN LATIN AMERICA: CUBA AND PUERTO RICO (1840-1898) Angel Pascual Martinez Soto, Professor, University of Murcia Angel Pascual Martinez Soto (1955), Senior Lecturer in Economic History and Director of the Department of Applied Economics of the University of Murcia (Spain), focuses predominantly on the study of several aspects of the financial history of Spain. He contributes to the main Spanish journals in the field, mainly on credit cooperatives and saving banks. Other research topics are the demography and standards of living in the Spanish mining industry. His recent work examines the financial system during the Spanish colonial period in Cuba, Puerto Rico and the Philippines. Despite the progress made in researching the history of savings banks in Spain, there are still aspects that remain largely unknown, especially with regard to their introduction in the colonial environments of Hispanic America and the Philippines. This paper studies these hitherto largely ignored institutions in Cuba and Puerto Rico during the period from 1835 to 1898.1 We are therefore dealing with a subject that is novel and, in our opinion, important in order to better understand the history of this type of entity both in Europe and in other non-European territories.