The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-12-22
TIE ST. DOMINGO LOAN.

particulars OF the COntract-HOw IL Is to be
NIet-views OF Parties Concerning II.
hysheet containing an exposition and condem'
nation OF the loan recently entered into by the gov.
eminent OF ST. Domingo haS been extensively cir.
culated in st. Domingo city and other towns OF the
republic. liberal translation OF this document fol-
lows
COLLATION. OF loan between this republic and British
bankers the nominal value OF f757, 100 sterling, on
the following basls:-
Seventy pounds per cent discount.
Six per cent annual interest for the capital.
-Four per cent Tor the liquidation OF the loan
The whole IL 10 be paid In twenty five years. The
guarantees upon which this loan Is raised are
these:-The hypothecauon OF the entries OF certain
custom houses and the expectation dues OF the
guano OF Alta vea. the coal mines and mahogany Of
SANTANA and the other mines Of the republic. The
condition is that the loan shall applied to
struction OF railroads and the Improvement Of the
highways lcarreterasl generally 1t Is intended in
this document to point out the impractcablity Of
The nominal capital Of s757 700, calculating the
maximum at $50 cents to the pound sterling,
or this sum there must be de-
ducted-For discount. $50. 49, 45, S72
For interest," first year, six per
For sinking fund, four per cent l45'47s
For commission, four per cent. 145,473
For freight Insurance. charges
&C.
Difference. s5s1, 0la
out OF the sum OF S. 1886 $50 Tor which the republic
negotiates II receives only $5sl,9l3 without incud-
ing charges for freight, printing bonds &c.
For this sum OF s6sle13, representing nominal
capital OF $780, the republic pledges Itself to pay
annually during period OF twenty-five years the
sum OF s36a, 695, in this Manner:
ON per cent intersse.
Total. .ssss, ogo
the enormous amount OF SO, 402, 400.
Is evident from this that for So 1856, $50 loaned to
the republic u, Il is REQUIRED to pay IN twenty-five
IS, o544o, which, with the premium OF s. 545 S72,
makes the sum Of S. S1lll2 the ultimate result to
the borrower
Or, take another view:-For the sum OF $5S19l3,
which the republic will receive without including
the charges already mentioned), we shall become
liable for &c. 402 400, which Will make difference OF
49, 4So. This difference Is the dreadIul sacrifice
imposed on the country.
Now, how SHALL this sum costing 80, 4do 400, BERN
vested so as 10 yield an interest at least equal to the
annual exgenciesS Can We pay with this the domes-
tic debt OF the republic, which amounts to more than
o mionS No. Even If we employ this fund as
proposed in the prospectus Of the loan IN the cons
mingo city the province OF CDao it VIII require
more than double the amount indicated. VIII thus
win it tend to increase agricultural pursuits which
are as yet purely imagnarys We say the least part
Of the SOUTH the largest portion in paying the Jesu-
run debt; and the rest-Oh, the rest The admis.
sion Of such loan is only possible to governments
Who VIII defend the monstrous negotiation we
nave examlned-ior some, no doubt, benedicfion
from heaven; T. the country the greatest calamity
This loan will ecessitate the excessive increase OF
the existing import duties and the creation OF new
ones. II VIII be the last addition to the burden OF
the landed propretors 1t will make 1t difficult to
live. for we shall have to pay for the very air
breathe. Even In ordinary times the entries
the estimates. How, then, can we raise the
important sum Of 1858 600 every year without scan
daousy altering the present import rates and Great
Ing fresh duties2 10 raise this sum the poor man
Will have TO pay more for his bread for his clothing;
n al ivtn mi u,nr hr.uw
much more it Is impossible now to say. Does not
every thoughtful man that this loan Will become
an nsupporable burden on the pubic at large; that
II Will prove, IN fact, halter to choke US What
advantage are we to reap IN exchange None. We
have demonstrated mathematicay that 1t Will re-
suit IN fatal injury and that not in the most remote
DISTANCE Is any benefit visible.