Rensselaer Semi-Weekly Republican, Volume 38, Number 44, Rensselaer, Jasper County, 16 February 1906 — TREATY HAS A JOKER. [ARTICLE]

TREATY HAS A JOKER.

Makes $7,000,000 Worthless DoI mingo Scrip Good; The attention of Secretary Root and of members of the Senate committee on foreign relations has been called to a “joker” in the Santo Domingo treaty and, according to a Washington correspond ent, it la causing them worry. The “joker” is in article 1, which reads: “The United States undertakes to secure an arrangement of all obligations of the Dominican government, foreign as well as domestic; the arrangement for payment and the conditions of amortization ; the consideration of conflicting and unreasonable claims and the decision as to the validity and amount of all pending claims already liquidated and™ accepted or whjch may be established.” P It was the original intention of the President that the money collected from the Dominican custotaa should be used in settlement of the foreign claims only. Under the heading of domestic claims will come between $8,000,000 and $9,000,000 of scripof “La Dauda Deforida,” the deferred debt. This scrip for forty years has been of practically no value —not worth five cents on the dollar’because of the doubt whether it ever would be redeemed. ’ , Now, the officials of the Dominican government have bought all this scrip they could reach, paying ah the way from 2to 30 cents on the dollar. Emilio Joubert, the minister from Santo Domingo, himself has admitted that he would not now sell the scrip fee holds for 75 cents on the dollar, as he believes it will be paid in full. lie says it will be worth par the minute the treaty is ratified by the Senate of the United States. This “deferred debt” is the outgrowth of the Dominican revolutions of the last forty years, which, except the last one headed by Morales, all have been successful. Whenever a revolutionary while operating in the field requisitioned cattle or services a voucher was given. After the revolution was won this voucher would be exchanged at the capital for scrip of “La Deuda Deferida,” duly registered in the treasury books. The obligations of both sides always were recognized because no successful faction was oyer sure it would not be among the ‘‘outs’’ the next day.

. Scrip also has been used by the government Ah’ the paytnent of the salaries of officials and many, influential men of the republic- now ! have considerable sums of this paper. Revolutionary chiefs have used it liberally to reward friend's for “services.”