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United States Department of State / Index to the executive documents of the House of Representatives for the second session of the fiftieth Congress, 1888-'90
(1888-1889)

Hayti [Haiti],   pp. 877-1036 ff. PDF (68.6 MB)


Page 877


                             HAYTI.
                             No. 626.
                    Mr. Thompson to Mr. Bayard.
No. 153.1                LEGATION OF THE UNITED STATES,
  Port au Prince, Hayti, November 14, 1887. (Received November 29.)
  SIR: On the 19th ultimo the National Assembly was called in extra-
ordinary session, which ended the 10th instant; the members were
called together in order that they might examine and ratify certain
arrangements made by the minister of finance and the National Bank
of ilayti on his recent visit to Paris. These were the projects:
  (t) A law to establish a new treasury service.
  (2) A law to substitute new paper money for that in circulation.
  (3) Law converting the exterior debt and consolidating the floating
debt.
  (4) Law   regulating the interior debt (caisse d'amortissement), also
the back floating debt. All of these laws were passed.
  By the first, a contract has been sanctioned between the National
Bank and the Government to the effect that the sum of $283,333.33 is
to be paid by the bank to the treasury department at the end of each
month for the purpose of paying the current service, as employes, peen-
sions, rations to the army, etc. Thd bank takes entire charge as guar-
anty, and pays out from the sum of all duties on imports into the Re-
public, receiving as compensation 2 per cent. per month on the amount
paid out by them, and 9 per cent. per year on advances made. This con-
tract is for five years.
   In the second law the Government paper money in circulation at
present will be replaced by bank paper, simply an interchange.
  It is the third and fourth laws that are interesting to us, and par-
  ticularly the latter, as affecting the value of the bonds held by Ameri-
  can citizens, viz' those of fleuvelmann Haven & Arci, and of Mrs.
  Fanny Oaksmith.
  I inclose herein, marked A, with translation B, copies of the law
  above named. You will observe that these bonds in value have been
  reduced 20 per cent., from $100 each to $80 each, and the interest
  from 6 per cent. to 5 per cent. per annum ; and, furthermore, all back
  interest due thereon, and up to December 31, 1887, instead of being
  liquidated, is to be converted into the new $80 bonds.
  As there is but little time for action (six weeks) before these bonds
  are to be changed, without losing six months' interest, and in view of
  the fact that the above cited - bonds were obtained for our citizens by
  instructions from the Department, and through the good offices of my
  predecessors, and believing I am only anticipating instructions had
  time permitted them to have been requested by me and received in the
  premises, I have addressed dispatches to the secretary of state of for-
  eign affairs relating to these bonds, as to their value and the back in-
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