By 1930, US banking syndicates owned 80% of the most fertile land in Puerto Rico.
Four sugar cane centrales alone – Guánica, Aguirre, Fajardo, and East Puerto Rico Sugar – owned over half the farmland in Puerto Rico.
The banks also owned the entire costal railroad, the insular postal system, and the San Juan International Seaport.
Puerto Rico became a sugar empire, and the profits poured into Wall Street investment banks for fifty years – even during the Great Depression.
Here is one of their daily sugar cane trains, in 1938.