Minister Furniss to
the Secretary of State.
American Legation,
Port au
Prince, September 26,
1906.
No. 101.]Sir: I inclose herewith copy and translation of
a law which has this day been promulgated in Le Moniteur, the official
paper, and which makes provision for the payment of that part of the
interest
[Page 892]
due on the various
internal bonds, the interest on which was scaled down by the law of June
23, 1905, which became effective July 1, 1905.
This law is virtually the same as I gave in my No. 52 of April 19,
1906,a as having the
sanction of the Government. By its provisions 10 cents of the export
duty on every 100 pounds of coffee is set aside for this purpose and it
is estimated that this will be sufficient to meet the outstanding
interest indebtedness which was due July 1, 1905, $230,127.70 gold, in
about three years, after which time the revenue derived by the law is to
be applied to liquidating the principal of the said debt.
Attention is called to the fact that no provision is made for payment of
interest on the interest now due over a year; neither is provision made
for the deferred payments.
The amount to be collected will not be available until the close of the
coffee crop, which is just coming in. This will occasion a delay of not
less than six months before the first payment is made, and then payment
will be made on only such bonds as have accepted the 50 per cent scaling
down of the law of June 23, 1905.
The facts above stated are of particular interest to Americans, as not
only is this legation trustee for $70,200 of these bonds, but there are
many more in private hands throughout the United States.
I have, etc.,
[Inclosure.—Translation.]
Law.
Nord Alexis, President of the Republic, using the prerogative granted
to him by article 69 of the constitution;
Considering that the proceeds of the appropriations destined for the
service of the interior debt have not permitted the payment of the
interests and amortizements due on that debt up to the 1st of July
last, and that it is necessary to adopt relative thereto a method of
settlement that assures the liquidation with as little delay as
possible;
On the report of the secretary of state for finance and commerce and
the advice of the council of the secretaries of state, has proposed
and the legislative corps has voted the following law:
Article I. Dating from October 1, 1906,
there shall be set aside ten cents (of the export duty) on each one
hundred pounds of coffee exported, for the payment of the amounts
due up to the first of July, 1905, for the interests and
amortizements of the interior debt, as follows:
| Consolidated 6 per cent reduced to 3 per cent,
interests due |
$12,714.78 |
| Consolidated 12 per cent reduced to 6 per cent,
interests due |
80,178.40 |
| Unified loans |
3,758.40 |
| Blue titles, coupons of July, 1905 |
57,428.38 |
| Rose titles, coupons of July, 1905 |
76,047.74 |
|
230,127.70 |
Art. II. Every three months there shall be
divided among those having right thereto the amount in hand and
collected by virtue of this appropriation up to the amount of
$230,127.70.
On the liquidation of this debt the ten cents shall be added to the
appropriation which at present guarantees reimbursement of the
obligations of the interior debt.
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Art. III. The present law repeals all laws
and provisions of laws that are contrary thereto. It shall be
executed under the supervision of the secretary of state for finance
and commerce.
Given at the palace of the House of Representatives September 3,
1906, year 103 of the independence.
S. Archer,
President of the Chamber.
G. Desrosiers,
Louis Brutus,
Secretaries.
Given at the national house at Port au Prince, September 10, 1906,
year 103 of the independence.
T. A. Dupiton,
President of the Senate.
R. David,
Diogene Lerebours,
Secretaries.
In the name of the Republic.
The President of Haiti orders that the above law of the legislative
corps be vested with the seal of the Republic, printed, published,
and executed.
Given at the national palace at
Port au Prince, September 11, 1906,
year 103 of the independence.
Nord Alexis.
By the President:
F. Marcelin,
Secretary of State for Finance and
Commerce.
