JUST WHAT IS CASTRO TAKING TO MARKET?
Yes, Mr. Castro is going to market ("Mr. Castro goes to market," International Business, Apr. 20). He is going to market with property stolen from U.S. citizens and corporations in the largest uncompensated seizure of American property by a foreign government in the history of our country. Last fall, the State Dept. sent an all-stations cable advising that Cuba may be selling, leasing, or joint-venturing to foreign investors American properties that are the subject of outstanding claims by American citizens.
The cable further advised foreign governments to take the necessary steps to encourage their nationals and businesses to avoid entering into contracts with the government of Cuba that may be legally encumbered by unresolved claims to such assets by American citizens. We must not forget that the basic reason for imposing the economic embargo on Cuba in 1962 was that U.S.-owned property was seized without prompt, adequate, and effective compensation as required under international law.
David W. Wallace, Chairman
Joint Corporate Committee
on Cuban Claims