"Mario Garcia Menocal was born on December 17, 1866, in the town of Jaguey, located southeast of Havana in the Matanzas Province of Cuba. As a young man, he was a partisan in Cuba's fight for independence and he later became a prominent conservative politician. Menocal was elected to the presidency of Cuba in 1912 and assumed the office in 1913. During his administration, he strongly supported business and corporations, as he had promised in his platform. While in office, Cuba also established its own currency, but the United States dollar continued to be the only paper money in circulation on the island until 1934.