1915 1 peso Cuba The reverse shows Cuba's coat of arms. It is shaped like a pointed leather shield, and divided into three sections. In its horizontal upper part, there is a golden key between two mountains, and a sun rising over the sea - which symbolises the position of Cuba in the Gulf, between the two Americas, amidst the emergence of a new state. The blue and white stripes, down the left hand side, represent the situation of the island, in terms of its division into states, in the colonial period. Down the right hand side, a Cuban country scene is dominated by a royal palm tree. Following the Spanish-American War of 1898, foreigners-largely Americans and Spaniards-bought land cheaply, and economic and political power began to concentrate in their hands. This created economic hardships for most Cubans. Cuban elites lost their lands and the poor lost their jobs as foreign laborers from Haiti and Jamaica, who worked for low wages, took the place of Cuban workers and the Cuban economy was dependent on the United States. By 1915, political parties were little more than a staging ground for gaining power and money. Opportunistic presidents curried favor in Washington and did little to build Cuba for Cubans. Holding political office often required payoffs to friends and foes alike, and the national treasury was at the disposal of dishonest officials.

Released 7/2/2000