The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-03-06
GOLD FOR FRANCE.
Methods Of Paying the $4,000, o00,
When Due, for the Canal
Rights.
Tricky Colombia Will Be Carefully
ed-Isthmus May Yet
~ Be Seized. ..s
New York Sun Special Service.

New York Sun Special Service.
Chicago. March civilian e. Curtis in
Washington special to the Record-Her-
aid says: The secretary Of the treasury
and his advisers have already begun to
consider the method by which the s5O,000,-s
900 bonus will be paid to the French canal
company and the governmen Of Colombia
as soon, as the treaty is ratified. 1t Is a
very important transaction for many rea-
sons, particularly because it will deplete
the: currency in circulation in this country,
to such an enormous amount. Therefore,
it is fortunate that the transaction is
likely to take place at a season of the"
year when there is the least demand for.
money. Secretary Shaw will be governed.
by the condition Of the money market in.
deciding how the transfer shall be made.
Sooner or later $40, 900, 900 of exchange
must be purchased and an equal amount
Of gold must be RENTED to London to-
meet the draft. 1t cannot remain in this
country for Investment but will be dis:
tributed among the stockholders of the.
Panama Canal company, who are scat:
tered throughout France. Most Of them
/ hold very few shares. ..7
| The stockholders will realize about Is
per cent of their original investment,
| which has paid no interest. 1t is quite re-,
| mar1able that so little disturbance has
ben made by them for the majority Of the
Panama stock is owned by poor people.
who can i'll afford the loss At the time
when DeLesseps was wasting his millions
| a share or two of the stock found it's way
into nearly every peasant cottage In the
| entire republic.
| The enthusiasm and confidence of the
| poor people in the enterprise was so great
! they continued to buy shares after the
| collapse Of the company and the exposure
Of the corruption and wastefulness of it's
| officials. It was expected that a reaction
| would take place and revolution was
predicted when the property was trans
ferred to the United States, but SO far the
peasants have accepted the situation with
out a demonstration and have submitted
| to their sacrifice without protest
The SO, 100000 which goes to Colombia
will not be paid without every precaution
The treaty must first be ratified by the
congress of that country and the secretary
of state will be very sure that it has beer
legally elected and organized. Elections
!. take place this month but it is not eS'
pected that the congress can meet before
May The congress of Colombia has no
met for four years, and no election has
taken place during that time. The people
are now at peace, after continuous civi
war since 1898, and, although the govern
ment is not entirely satisfactory to tn
people and by no means constitutions
there is no longer any organized resistance
; to it's authority, and whatever it does viii
undoubtedly be promptly ratified by tn
congress-
The Colombians are the most tricky AM
F unreliable Of all the Spanish-Amerlcans
but their character is well understood b!
the president and Secretary Hay who hav
: had the benefit of some remarkable ex
, perience during the negotiations for tn
canal rights. They will not pay dolla
! to any one until they are firmly conVlnce'
:. that 1t Will go to the right place.
:, Senator Morgan, ex-senator Warne
Miller and other gentlemen who are deepl
attached to the Nicaragua route have bee
circulating scare stories about the way i
4 which the. Colombian government intend
: to humbug the United States, and MI
: Morgan actually believes and predicts tina
! after we have paid the 100000 some
: body will pop up somewhere with a de
n mand for more and prohibit us from occu
: pying the isthmus or digging the ditch un
/ til we have submitted to blackmail.
= Those who know the character of Thee
{. dore Roosevelt would smile to see the co
t. lombian authorities or any other govern
n ment try to hold him up for 7blackma1
r. His first act would be to send down flee
and an army to take possession Of tn
a isthmus which some time may have to
e done.