Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1899-10-16
sANTO DOMINGO THE VICTIM OF
WHOLESALE FRAUDS.
FINANCES ARE BADLY MIXED
POPULATION 100000 AND OWES
S"5.0OO.OUO IN GOLD.
The Country's Currency Is Practically
Worthless, silver Circulating at
Five to One-Bad Book
keeping Adds to the
Confusion.

Copyrighted. 1893. by the Associated Press)
SANIO DOMINGO. oct. l5.-The ma
uonal debt Of Santo Domingo is now about
SZ'vy."v gold. The population is some
what less than FyJ,VtO. 1t is impossible to
get exact figures. as Dominican finances
are 50 mixed up with the estate of the
late President Heureaux and the govern
ment books have been kept SO badly that
the amount OF the floating debt can only
be approximated.
The bonded Indebtedness consists of two
issues of government securities as follows:
Two and three-quarters per cent bonds.
&, '3G,Ov9. and per cent bonds, el,5oOoC0.
OF the last named issue, S3J0,UJ1 have never
been sold. Add 10 this amount floating
debt estimated at about $3vy0.vgJ, repre-
sented by vouchers and open accounts,
drawing interest in some cases as high as
2la per cent a month and a worthless cur
rency, which it may require $3,VOoc.D to
redeem, and the national debt VIII be
found to be- about $Z5,Ceo,0gN.
OF the paper currency. issued by a bank
ing institution that went out Of existence
years ago, with no guarantee except the
frequently changed edcts of an OVcrthr0wn
government, there was originally 81, iyr.UyD.
Something over 10000 is supposed to have
been taken up and destroyed: and Sl.v.yvJ
Is found Unissued. leaving outstanding $i,-
10000. As this was issued ut the Iate Of
two for one gold dollar and has since
circulated at value. ranging from tWo TO
twenty for one, and is now about out OF cir
culation. a wise and business administra-
tion could probably redeem the entire
amount at much less than half its face
value.
There is, in addition, about 100000 of
national silver, so-called. II IS Il worth
less metal, now the only currency of the
country, circulating at five 10 one gold.
What will be the ultimate disposition of
this coin is difficult to say. II is an out
standing government obligation, but so
sOoa az a better currency is introduced 1t
must depreciate further, until II becomes
virtually without value. AT the present
time 20 per cent Of the duties may be paid
in this coin at five for one. but as it Is
reissucd this will not reduce its value.
Under the administration of Heureaux
the income from all sources was about ST.
So"Vao per annum. As fraud was openly
p.acticed In all the government depart
ments. it seems probable that this amount
can he increased n the same time rCduc-
ing the export and import duties with
good results TO commerce.
An inspection of figures returned by the
custom houses reveals some strange re-
suits. The value OF merchandise imported
at the port Of Santo Domingo in 1891 was
$i.1O2, ,j67. In 1872 it was 81, 59o2I9. shortage
I Of $6Zss on the other hand, import du-
ties in 1921 were sl,lI5.S1S and In 1898 Sl2i6,-
56l. or an excess OF S1o.5s3. There was no
change in the tariff, but a difference in
| bookkeeping and declared valuations.
From the same port the declared value
! of exports In 1891 was si66l. .I59. and in lS9,
/ g. 40. .is9 an increase Of 81 l,10y.3@o. Export
duties in 1897 amounted to $3TS.sT6. and in
1898 to SIS iOi. an increase OF s79.52s.