The Republican. [volume] (Oakland, Md.) 1877-current, 1881-12-24
A Claim of Nine Hundred Millions.

caused by the publicat ton of the gil
gantlc scheme of the Peruvian Com
pany, which makes an astounding
claim against the government lately
at war with Chill. The details are
as follows: In 1888 the government
of Peru offered to every discoverer
of valuable deposits one third of the
actual value of the find. Cochet, af-
ter the proclamation was issued,
made the wonderful discovery of
the guano deposits, and advertised
their use and value to the public, and
in 1917 the Peruvian government
acknowledged his rights as a pros
pector. Landreau, Frenchmen, in
1874, in conjunction with his brother,
who had been naturalized in the
United States, discovered deposits
which have been estimated as high
as S400,000.000. The claims of these
parties were subsequently repudiat
ed by the government of Peru, with
the understanding that the latter
would make another contract pro-
tecting the rights of the prospectors,
and it is said that both Calderon and
Pierola, the leaders of the defunct
government of Peru, were interested
in these claims. The Peruvian Com
pany processes to stand in the shoes
Of Cochet, who, they say, has the
priority; but they are willing to pay
the owners of the rights of Landreau
S125, 900. 900 in case it can be shown
that the discoveries of the French.
man were other than those of Cochet.
The amount claimed is startling,
and at first blush absurd but when
it is considered that both the nitre
and guano beds are really monopo-
lies, and that the material for the
manufacture of powder all over the
world can only be had here in ade-
quate quantities, and that the nitre
beds are practically inexhaustible,
renewing themselves as the mater
ial is taken away, the sum will not
seem so large if the claim be Just.
According to the records of the Pc
ruvian Custom house, it is asserted
that the amount of guano already
taken from the Cochet islands will
aggregate in value 81, 100000, 900.
One-third of this, which should have
belonged to the discoverer, would
be $500. 900 900, and the interest at
per cent. for twenty years would
amount to S4SO.OOO,OOO more. The
Peruvian Company proposes that
the United States shall intervene be-
tween Peru and Chilli in the troubles
now pending between those coun-
tries, and compel Chilli to accept a
money indemnity, provided the Pc
ruvian government agree to certain
stipulations, among which the fol-
lowing are the most prominent:
The government to stipulate, first.
that in 1910 Alexa' der Cochet dis
covered guano within the meaning
of the decree of FEBRUARY 10, 1888.
That Cochet's discovery immediate
ly vested in him complete title to
one-third of all the guano in original
deposits in Peru. and that such title
was title to one-third of each sep
arate deposit. That the removal of
Cochet's One-third of each deposit by
the government, or by its agents,
was a t0rtitiOus conversion for which
Peru. as responsible agent. is bound
to make amends to the owners.
That tine measure of damages in the
premises cannot be less than the val
ue of the converted property at the
time of its conversion, with interest
at per cent. That the agreed total
of these damages, including interest
to January /, 1881, is 5000, 000,000
That this total shall be capitalized as
of that day, and shall bear interest
at 6 per cert. until paid. That under
the law contract of l845, this indebt-
edness to Cochet is entitled to prior
ity over any debt contracted by the
government after the passage of that
law also, that all contract obliga-
tons created against the government
after that date which might antago-
nize this priority, must be subordi-
mated to it.
The government, therefore, here
by recognizes and formally acknowl-
edges its direct Indebtedness in the
premises to the Peruvian Com pany:
First-In the sum of 5000, 000, 900 with
interest at 6 per cent. from January,
1881, until paid and this sum is adj
mitted to be due and payable in full
before any indebtedness created
prior to the passage of the law con-
t'acts of 1845. Second-In the value
of one. third of all guano taken from
the original deposits in Peru since
the LIST day of January, 1881, with in
terest at 6 per cent. until paid.