Evening star., 1903-11-19
Colombian Government Owes
It With Interest.
PANAMA'S OBLIGATION
FOREIGN BoNDHoLDERS PLACE IT
AT ONE-THIRD.
Netherlands Asked Not to Recognize
New Republic Until Under
standing is Reached.

LONDON. November 19.-The council of
foreign bondhOlders has received a COM
munication from Amsterdam saying that
the chamber of commerce there Will re
ouest the government of the Netherlands
not TO recognize the republic of Panama
until some arrangement is arrived at where
by the new republic assumes an equitable
share of the Colombian debt.
The majority of the bonds are held in
England and Holland.
The British foreign office has replied to
the Colombian bondhoders' request by as
suring them of its interest in their case.
but not committing the government to any
specific course of action Further COM
munications are expected, but so far as the
bondholders council knows the foreign
office has not yet taken any steps in the
matter.
Secretary of Council Talks.
The secretary of the council of foreign
bondholders. in an interview with repre-
sentative of the Associated Press today,
said:
We have not the slightest objection to
Panama's independence, and think the
American action calculated to promote the
benefits of all concerned.
I'm our letter to Lord LanSdOWne we
pointed out that the independence of Pan
anna was evidently fait accompli, but we
wished to bring. through diplomatic chan
nels the attention of the American au-
thorites to facts concerning which perhaps
they not so well informed as the unfor-
tunate people who have supplied Colombia
with money in past years.
Britishers Fared Hardly.
'No set of bondholders the world over
has Jared hardly as the Britshers who
have advanced the Colombian government
money, and we feared the republic might
take advantage of the secession of Pan
anna as an excuse to repudiate all it's in
ternational obligations
"Our view is that Panama having greatly
benefited by the money sunk in the country
by British and other bondholders should
assume certain portion of the debt of the
country to which 1t recently belonged"
When asked what he considered to be an
equitable proportion. the secretary replied:
Colombia's Debt 81 100000.
Probably about one-third, but that
should be left to an arbitrator. The total
Colombian debt, with interest. is about
s1ooo0OOo We hope that from the canal
money Panama will pay Colombia such
share of the debt as the arbitrator de-
cides, and thus purge herself of pecuniary
Obligations to foreign countries.
so far as the British bondholders are
concerned we would rather accept the
h
issued by Colombia. So If Panama does
not wish to give up cash an issue of bonds
on her part or the acceptance of respon-
sibility for part of the present Colombian
issue would be quite acceptable.
Would Insure Good Credit.
such action would not only appear
equitable, but would insure the new re-
public good credit In Europe. We are Just
as anxious as the Americans to see the in
dependence of Panama thoroughly estab-
lished, and instead of putting obstacles in
the way. as seems to be ina gined, we are
only endeavoring to make it's independence
financially secure.
"Our council feel perfectly assured that
President Roosevelt and Secretary Hay
Will not countenance any action of Pan
anna which would be construed by Europe
as a repudiation of its debts
Received With Admiration.
The promptness of the American action
toward Panama is generally received with
admiration by the afternoon newspapers
'It is with this definiteness of object"
says the Evening Standard, that political
triumphs are secured. America knows ex-
actly what she wants. and having set
about the right way to get it she has sue
ceeded."
The Pail Mall Gazette says:
Secretary Shaw's words, that he is
Jealous of the hour when we shall begin
to shovel dirt will be echoed by all who
wish to enlarge the area of commerce"
Willingly Left to Washington.
The ST. James Gazette and the Globe
rather criticise the diplomacy by which
the coup d'etat was accomplished" the
Globe saying ''it is doubtful if it will
eventually rebound to the credit of Presi-
dent Roosevelt and Secretary Hay"
In official circles but slight interest is
exhibited the entire affair being willingly
left to Washington. Recognition of PAN
anna by Great Britain will follow as n
matter of course. so soon as the necessary
formalities are concluded and the bond
holders are informed what steps are likely
he to saf fas a-fy ,I,.;,