The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1906-09-11
settlement
Of the Dominican En-
brogIio Is Under Way
and President Roose-
welt Can Be Relieved.

New York, Sept. Within the next
two weeks the settlement of the Do
nounced in way that will for the
present at least relieve President
Roosevelt and Secretary Root of the
serious embarrassment in which they
were placed by the refusal of the SEN
ate to ratify the Di1lingham-Sanchez
treaty. Also the way will be made
clear for turning over the fund OF
nearly two million dollars which has
been accumulated for 18 months IN
the national city bank and the status
of which bid fair to cause infinite
squabbling among Dominican states
men
II the settlement is made, and there
seems~n doubt that it will be, this
sum of money will be removed from
the domain of contention, and with
no stakes left to play for, the Domin-
ican rebellion now being waged by the
Jiminista party against the Hericista
pafrtisans in Office will simmer away
to nothing.
DR.. Jacob H. Hollander, professor
of economies in the John Hopkins,
university, whom President Roosevelt
commissioned to investigate Santo Do
mingos debts, is now here in company
with Sonar Velasquez, the minister of
finance of Santo Domingo, and the
latter's assistants. They have for sew
eral weeks conferred daily with some
of the most prominent financiers in
New York, and the successful result
of their labors Is now in sight. The
plan proposed is the refunding of the
Dominican debt in lump sum, the
bonds to be taken over by single
New York banking house. The bonds
viii be conditioned upon the collec-
tion by American receivers of the Do
minican customs according to the
present modus vivendi, forty-ive per
cent to be turned over to the govern
ment for current expenses and 55 per
cent to go to the American banking
house holding the bonds for the pay
ment of the interest on the refunded
debt and it's sinking funds. 1t was
learned today that the foreign cred-
itors of Santo Domingo, have agreed
to the terms on which their debts
shall be liquidated and that practic-
ally all that remains is their pay
ment in cash. When the United States
first took hold of the Dominican debt
situation the clamoring creditors
showed claims totalling close to s40,-
100000. Many of these claims were
most antiquated in date and of the
shadiest character. The Investigation
of these claims has resulted in the
entire elimination of some of them
and heavy scaling of others, until it
is now understood that many of the
foreign assignees are only too willing
to take whatever the generosity of
Santo Domingo may give them in the
settlement. From an authority close
to the interests that are to take the
new bonds, it Is understood the total
issue of new bonds will be less than
half the total claims first submit
ted.
Under the new arrangement the
United States will be relieved Of that
part of its undertaking which the SEN
ate found so odious in the treaty
which it failed to ratify. Under that
agreement, the government first col
lected 55 per cent of the customs and
then distributed that proportion among
the debtors. In this way the United
States undertook to settle with the
latter and really acted as debt coli
lecting agency