exercise complete jurisdiction and control", while recognizing "the continuance of the ultimate sovereignty of the Republic of Cuba". Cuban vessels involved in trade will have free passage through the waters. The United States has the right to modify the waters as necessary. Under the lease treaty signed on July 2, 1903, the U.S. must send $2,000 in gold as payment to the Cuban government each year. After the Gold Reserve Act of 1934 removed the U.S. gold standard, lease payments were unilaterally changed to a cardboard check backed by paper dollars. The payment due on July 2, 1974, was made by check in the amount $4,085. With inflation, $2,000 of 1903 dollars would have been worth about $4,085 in 1934 and would have further increased to over $52,000 by 2013; however the payment remains at $4,085. Since the Cuban Revolution, the Cuban government has cashed one of these checks, and only because of "confusion" in the early days of the revolution. The other checks, made out to "Treasurer General of the Republic", a position that has not existed since 1959, were once shown stuffed in a desk drawer in Castro's office during a television interview with him. American perspectives The treaty fell short of the original desires of both the United States government and its military cabinet in Cuba. The desire was to lease four areas rather than the two: Guantánamo Bay and Bahia Honda. The other two were Cienfuegos, and Nipe Bay. Cuban perspectives The government of Cuba argues that the base is a constant affront to its sovereignty, taken under duress and maintained under the threat of atomic force. It has complained that weapons are smuggled into Cuba through the base and that the base shelters criminals fleeing from Cuban justice. The lease contains a mutual extradition right to both parties for fleeing criminals. Cuban-American Professor Alfred-Maurice de Zayas argues that the lease may have been invalidated by material or fundamental breaches of its terms. The February 1903 lease, in Article II, states that the United States is allowed "generally to do any and all things necessary to fit the premises for use as coaling or naval stations only, and for no other purpose." He questions whether the prison facility meets those criteria. See also Cuba–United States relations 1873 Dominican Republic Samaná Peninsula referendum References External links Cuban-American treaty, May 1903 — 1903 Treaty of relations text Lease