Although his administration was systematically defamed by the opposition as corrupt, it actually was less corrupt than preceding and subsequent administrations, and Zayas refrained from censoring the press or arresting critics, unlike prior and later Cuban presidents. This brought him the nickname "el Chino" (the Chinaman), because of his stoicism ("la flema de Zayas") and his "oriental patience". Sometimes he was also nicknamed "pesetero", because since his imprisonment in Madrid he had always carried a Spanish Peseta coin in his vest pocket. When he took office in 1921, the country was in bankruptcy, with debts exceeding US$ 40 million, and sugar prices plummeting from 22 cents to 3 cents per pound. In spite of this, he carried out a number of reforms, particularly in the field of education.