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A Brief History Of the Virgin Island by David Johnson of Cane Bay Partners

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Anyone who has ever visited the Virgin Islands has some sense of the evolution of this tropical island chain. Like most islands in the Caribbean the islands were first settled by natives mistakenly called “Indians” by Christopher Columbus. WhenColumbus discovered these islands back in 1493, he called them the Virgin Islands because he sensed they were virginal and ripe for the picking. Some sources use a myth about St. Ursula and her 11,000 virgins as the source for naming the islands. With the Spanish intrusion, slaves were introduced and a lively slave trade conducted.

Diseases the Europeans introduced to the native population wiped out two thirds of the native Indians. A slave rebellion in July 1858 freed the slaves but also restricted labor for the plantations. As a result the islands economy soured and plantation life became a thing of the past. Conditions improved slowly. Three islands in the chain were purchased by the US In 1917 and became the US Virgin Islands. A fourth island was added in the 1990s. Britain possessed seventy islands in the chain and Spain possessed four islands in the chain. The whole Virgin island chain went through a period of depression brought on by natural disasters and changing economies in the late 1800s and early 1900s.

It wasn’t until the mid 1950s that a new tourist industry was developed out of the ashes of lost dreams of gold and prosperity. National Parks dedicated to preserving and restoring the natural beauty of the islands were a big draw. Tourism remains a multi-million dollar industry for the Virgin Islands.

US Virgin Islands

St. Croix celebrates their emancipation from slavery every July 3rd. US History is tied to this island in two ways. Alexander Hamilton, our first Secretary of the Treasury was born here. Many Americans can trace their ancestors here and it gave people of color an ideal for freeing themselves. Black history tours are very popular.

British Virgin Islands

Financial services and offshore companies reign here. Tourism is also a big draw. Most tourists visit Virgin Gorda for its spectacular boulder formation known as “The Baths.” Others may visit St. Kitts which is actually an independent island in the chain.

Spanish Virgin Islands

Actually the two islands named as the Spanish Virgin Islands, Vieques and Culebra are now considered part of Puerto Rico and belong to the US. They came a part of the treaty the US signed with Spain in 1898. These islands are known for their great fishing industries and activities.

 

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David Johnson of Cane Bay Partners Top 5 Finance Blogs

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If you want to stay current on the latest news and trends regarding finance, it’s important to access a variety of viewpoints. Simply reading the financial news isn’t enough. Financial blogs can help you stay informed and give you some different perspectives. Here are the top five blogs that will help to increase your financial intelligence.

1. MoneyTalks News

MoneyTalks News is a popular and versatile blog that covers topics of interest to the average person as well as business owners. There are lots of practical tips for saving money, investing and finding the best deals. The blog focuses a lot on practical, everyday financial decisions such as insurance, wireless phone services and saving money for retirement.

2. Money Crashers

Money Crashers is a blog that features articles and reviews on everything related to personal finance. You will find useful reviews of credit card reward programs, ways to save money over the holidays and how to choose the right bank account. There is also career advice for people of all ages. Money Crashers publishes lots of new material every day, so it’s a good idea to visit this blog frequently.

3. Investor Junkie

Investor Junkie is a good blog to follow if you’re looking for solid investment advice.
There are so many investment options and styles that it can be confusing, but this blog helps to clarify everything. You will find a variety of investment reviews, tools and resources covering everything from stocks and options to online investment platforms. Reading this blog on a regular basis can help you to gain a more thorough understanding about all of your investment choices.

4. Mighty Bargain Hunter

As the name suggests, this is a blog that’s mainly focused on identifying bargains. It’s also a good source of information about other financial blogs, and it generously recommends lots of competing blogs on the home page. Mostly, however, the blog covers the myriad ways you can save money, such as cash back programs, gas cards, coupons and much more.

5. Budgets Are Sexy

It’s hard to be financially successful if you don’t know how to create and stick to a budget. Budgets are Sexy gives you all the information and resources you need to become savvy about budgets. It helps you find the budget that’s right for your circumstances so that you can begin to take control of your financial future.