The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-06-21

The National Indebtedness of
the Republic.
A Few Words Regarding Annexation-Fears d
the People-stories Passing Around
General Distrust-How the Debt
is to be Manipulated.
ST. DOMINGO. May rs, 1870.

ST. DOMINGO, May 2S, 1870.
Some very extraordinary rumors are being passed
from lip to lip, some conndentally, among the
hitherto ardent friends of annexation, and are
plainly alternating the best class OF Americans from
the cause. .'Forewarned forearmed" says the Old
maxim, and the HERALD may expose the coming
evil In time to take out the sting.
In one sentence IL Is broadly stated, and Ia gain
ing every hour hrmer hold on leading minds here,
that the spollsmen OF Washington mean 10 make
money job out OF annexation. A gentleman who II
to be the agent OF these schemers has been
coming and going between this capital and Wash
ington ever since annexation has been on the car
pet and who passes here for the confidential repre-
sentative of certain speculative Senators has said to
more than one that the DOminicans would have TO
stay out in the cold until he and his friends should
be satisfied. This gentleman has never had any
Official connection with this government He ob-
tanned kind OF prestige with 1t from MS supposed
influence at Washington. In the presumed interest
OF these confidential friends in Congress overtures
were made to parties here to deprecate ana
then buy up the Dominican debt at ten
cents or less on the dollar, and when 1t
should be bought in to have 1t passed
at ats face BY "plcked and plable' commission.
Several most excellent men have privately pledged
themselves to watch the progress OF this specula-
ton inch by inch, and to communicate the data
tnames iucluded) FOR publication, In the hope that
a clear and timely exposition Of the scheme Will
Illustrate its execution.
The plan OF further depreciating the already de-
preciated paper OF the Dominican republic can
not be managed without this government taking
part In It, and that 1t cannot and dare not do even
were this Cabinet and Senate TO unite in the attempt
which, for many reasons may be SET down as out OF
sionn may do much, but that presupposes an
oblgng willingness not to see abuses which, up 10
hoxa fehn pfa
To return to details II Is estimated that the pub
lie debt subject 20 manipulation may fairy and
out OF the million thereabouts to be appropriated
for paying the domestic debt. part OF this domes-
tic debt Including the bonds issued to satisfy or in
evidence OF The national obligations on the score OF
| the war Of deliverance waged for three years
against the and te some eSteps ~
gold value declared by law. The new plan
! Is to first reduce its market value 10 iess
after the recess, alarm the holders-m0stly DOmini:
cans OF small means-nto realizing at any price. and
| then 90 before the commission TO demand payment
at mar or 20 near it a. to swallow up the entire mil
lion dedicated to clearing OF the national debt In
stead the 900 Of which the Baez Cabinet and
every other Intelligent Dominican thinks ought to
take up every dollar OF the government paper under
Ths buying IN the Dominican obligations for per-
haps $780, 900 and obtaining something IKE ten times
the amount IN gold from picked ana pliaDle com
| shock scores OF thinking D0minlcans out OF tneir
| Astounding faith In Washington wisdom and purity;
l
| dangerous proportions which is altogether unseen
in the United States This IS it0ne-lhird, at least.
OF the domestic debt consists Of the arrears due to
the soldiers and civil iple1dOs OF the government.
| THESE men were reconcled to the lease OF SANTANA
and afterwards annexation by the promise or pay
men on the receipt Of money from the United States.
There Is hardly voter IN the republic wh0 either IN
his own person or through near irends does MOI ex
It has always been stated by members OF TINS gov
| ernment that aiter paying on the foreign dent OF
100000 and dcducting what was advanced on "a.
MANA &C. there would probably remain Sl,O000o0
for clearing or washing out the whole circle OF
| authority that something less than six hundred
| Thousand dollars would pay of the cates and the
the Country 9T sa q ders Snd e.
villains had forced TO receive 1t In pay for their
farms. When this legal tender run down to less
than half cent for the dollar with the storekeepers
by boxfuls 10 wait for the day in which the govern
ment should make good It's promise to redeem at Its
last OF actual emission, averaging five or six
cents per dollar What In The hands Of the native
holders, sold by them TO resident traders, VIII be
OF the appropriation, and trouble will arise on
that head, neither viii the payment OF some $4,000
to 10000 lent IN gold or Colds worth by merchants
and men OF means to assist the government 10 feed
aud ciothc soldiers the frontier. They to
some degree forced loans for II not granted it was
| to be feared that the military force stationed
along the border TO repress the CacOs and Cabralls
tas would desert the Held en- ndsse and leave the
country open to revolution and anarchy. This class
of debts is expressed by raies or gold notes OF a
special class, and are not In market; but there II
| whole family OF CGleS anu NutOS 1OrMuR-ln lacC
the great bulk Of the domestic debt, which Will DO
| the pabulum OF the new scheme OF plumber. TO
| buy them up for next TO nothing. and nave them
paid at par would quickly realize naf million or
profit an investment or perhaps 0,O00 and TO go
q little farther, engr0ss the whole sum allowed Tor
the complete cancement OF ali existing liabilities OF
| the Dominican republic.
| a picked and pliabe commission might IN that
way, take generous care OF its friends; but IT would
] leave nothing for the payment or The Dominican
army which has been kept on loot for the last year
on promises to pay up It's arrears on the arrival or
the annexation money. 1t VIII leave nothing Tor the
mass OF the population who have iioarfed up their
dormant illegal tenders for the same iongedf0r day.
This Is OF the secrets OF the popular desire for
| annexation Show the people that 1t u snare
] and deusion, that q few SPECTATORS are 10
| pocket The price or their hard years oil sweat
and blood, and they are capable OF rising IN frenzy
aud tearing the commission TO pieces IN their cham
Der of office. The vague suspicion o. some KIND or
trick for plundering the masses Is darkennR tn the
air. and when 1t breaks out III mob action. ana q
military force Is called out 10 put II down In blood
aud slaughter the fathers OF the maud Will say that
wretches who not worthy TO share In the bless
| ings Of annexation.
| There IS but one version-prObably hard and un-
! Just one-of the growing belief here that D0mint-
can interests are to be sacrificed to set OF tn
triguers at Washington; but there Is another ana
still hlaeker and hope, still more unjust report
starting from Consul Perry's opinion, that the pub
lie domain should be conceded 10 the United States
This last story Is that all the public properly OF tha
| State would be taken from 1t and made over 20 u
| Clique OF washington land spectators.
| THIS current OF distrust may widen into an uli-
controable torrent that WIN overt0p al restraint.
| and sweep this government out Of existence IN o1e
| week If the action Of Congress should seem 70 JUS
| try these dangerous reports.