The Washington times., 1904-04-30
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Panama'S Hurry CALI
Due to Outside
Pressure.
PRICE OF RECOGNITION
Great Britain and Holland
Urging Payment on Co
lombia Debt.
PRICE OF RECOGNITION

Panama's hurry CALI for q, 900, 900
and the rest Of the 100000 "at the
earliest practicable moment which
came with unexpected suddenness at the
Treasury Department, caused a stir not
alone in financial circles, but among
representatives Of foreign nations here.
The republics eagerness to lay hold
of the actual cash before the ink had
even dried on the documents in Paris
legally ratifying the sale of the canal,
is regarded as significant by the repre-
sentatives of those governments that
hold claims against Panama for bond
payments.
Great Britain's Claims.
One of the countries largely interested
in making Panama pay these claims is
Great Britain. The Netherlands also
held large share OF the bonds of Co
lombia and Panama Ut was generally
understood among diplomats here that
Panama's recognition as new state by
Great Britain was onIy secured after
the diplomatic representative of the re-
public here, NJ. Bunau-VariIla. had tacit-
~ given promise that Panama would
assume part Of the debt Ia the payment
of Colombia's bonds and that the Brit
ish bondholders would tnus be guaran-
teed from loss. The Netherlands held
off from recognizing Panama for long
time. until. it is said. the Dutch bond
holders received a guarantee against
loss
Lately. pressure has 9een brought to
bear by these two countries and the
others interested TO get Panama to car
~ out her promises Diplomats now
think that Panamais eagerness to get
! hold OF the moaey is a sigi uneavor-
able to them
The Claims Presented.
The claims were recently presented TO
/ the State Department, and Secretary
Hay, before the retirement Of NJ Bunau-
| Varilla, impressed upon the minister the
importance Of taking steps to relieve
the situation. Nothing was done at the
time. and meanwhile the Panama gov
ernment has no diplomatic representa-
tive with the rank Of minister here to
bear the brunt of the complaints.
A report is current to the effect that
Panama will promptly invest the
greater portion of the $4,000, 900 owed
her by this Government in United
States bonds. This would be welcome
/ to the financial interests Of the country.
as it would prevent a large portion OF
the gold being shipped cut at this time.
Pay for Work Done.
Under the agreement existing between
the United States Government and the
canal company, there will be an addi-
tIonal payment of from 81 100000 tn
81, 900 TO be made. The price al
which the company agreed to sell its
property $4,000 OOO. was contingent up
OF the acceptance of the bargain by the
United States. on on before March l.
1903. Congress agreed to the purchase
but the negotiations with Colombia fol-
Il treaty were so prolonged that it be
came evident that it would be impossl-
Die TO complete the transfer by the
date named 1t was accordingly agreed
that the French company should con.
tInue to work on the canal, and thai
the United States should reimburse il
Tor all expenditures subsequent &c
March l, 1903
There have been between 500 and 200
men constantly employed during the
past year, principally on excavation II
the Culebra Cut. Their work has beer
done in accordance with the plans d
the United States Canal Commission
where they differed from those of tn,
French engineers, and II is permanen
work which would have had 60 be done
anyway, and the payrolls have beer
under the constant supervision of rep
resentatives of the United States. Wha
they have accomplished was done fo
the United States, and after the ac
counts have been audited. this Govern
Inent will make reimbursement there
fol.