The Washington times., 1905-03-10
LATIN AMERICANS
HAVE BIG DEBTS
TO PAY EUROPE
Ten Nations Owe For
eigners Nearly $780,
100000.
BONDHOLDERS WANT PAY
British Corporation Asks
United States to Procure
Settlement.
Debts for Collection.

Fears that the United States, through
the ratification of the Santo Domingo
treaty, will be committed to the har-
assins duty of international debt col
leetor in the Western Hemisphere are
expressed on every hand In Washington
That the corporation Of foreign bond
holders was one o. the influences which
caused certain European governments,
including France. 20 request the United
States to take charge of the fiscal affairs
of Santo Domingo or permit them to col
Iect their debts by the use Of Warships
is generally believed in various fnfiuen-
tial quarters
This corporation was incoreorated by
an act OF the British parliament IN 1898.
Its object ts 1.-THE protection of the In
terests of the holders OF foreign Sc
curities. The. council Of the corpora
president; Sir c. W. Freemantle. az
vice president: Sir T. G. Banbury, III.
p. Admiral Field. Royal Navy; Sir Al
geruon West, and dozen others.
Relations With Roosevelt.
This council sxerts its powerful infIu-=
ence on various governments TO bring
about the payment of the bonds of de-
Ifnquent South American and other gov
ernnents When Panama seeded from
Colombia, the council asked President
Roosevelt to persuade the new republic
to assume a portion Of the external debt
of Colombia. President Roosevelt Is now
doing what he can to bring about this
end. The council closely watches the
economic and financial conditions of
the South American republics. ane IN
is a significant paragraph indicating
that the council knew that there would
soon be change for the better inter
ests of holders OF Dominican bonds.
This paragraph says:
'.It is hoped that settlement with
the holders Of Dominican bonds who
have trusted their interests with the
council may shortly be made. The de-
lay has, of course. been trying, but the
council believes that the result will
justify the RECOMMENDATION OF the com
try to abstain from sending in their
bonds for stamping under the arrange
ment entered into with lHe French and
Belgian holders IN 1901.
Lien on the Customs.
The ARRANGEMENT referred to in this
agreement with the Dominican Republic
was that French and Belgian holders
of its bonds should enjoy a lien on the
| customs receipts Of Two Dominican
ports but nothing was ever collected
| therefrom. The council of foreign bond
| holders. 1t IS asserted, expected the
| United States would take some kind of
charge of Dominican affairs and there
| fore advised the holders OF Dominican
| securities not to try 10 get any under
| the French and Belgian arrangement.
| Although the council considered the
condition of Santo Domingo bad enough,
| IFS last report speaks far more delefuliy
| of conditions iE certain other American
| republics. The report says: THE Costa
/ Rica government. having failed even TO
comply with the conditions they them
selves had proposed. namely, that the
| service of the debt could be suspended
| for two years and payment recommended
! from April, 1903, the committee felt
that action on their part could not long
/ er be postponed.