U.S. Law Respects Cuba Investor Rights

To the Editor:

So President Clinton, acting under a deadline imposed by the Helms-Burton law, has granted American citizens the right to sue foreign companies that use American property seized by Cuba 35 years ago, though he suspended the right for at least six months (front page, July 17). Three letters you published July 16 on United States sanctions on foreign investors in Cuba emphasize negative reactions to the law. Deserving more attention are the arguments that won it overwhelming support in Congress.

Our losses in Cuba amount to more than all our allies have at stake there today. Cuba forcibly confiscated $1.8 billion from our citizens and companies -- a flagrant violation of international law.

Those trading or investing in Cuba who stay clear of our legitimate claims are not affected by the legislation. The law merely tells those who knowingly profit from our properties stolen in Cuba that, unless they cease this practice, they will be denied entry into our territory and may face actions in our courts brought by the rightful owners. For years our Government has warned of these consequences.

Investors in confiscated properties in Cuba manifest the same bad judgment as the European and Japanese banks that lent to Cuba in the 1970's and 1980's. Despite the Communist regime's violent nature and its poor economic performance, hundreds of millions were lent to Cuba. Since 1986, Cuba has been insolvent, unable to repay a huge debt of more than $9 billion.

Standing up for private property rights is an essential element of international business and strengthens the rule of law. Those principles are as important as the Helms-Burton law's goal of fostering democracy in Cuba.

MARIA C. WERLAU Chatham, N.J., July 17, 1996

The writer is director of the Cuban Democratic Alliance.