The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-02-11
WTREATY TO Be
SENT TO SENATE
President Roosevelt Wants to
Get Action on the Santo
Domingo Matter.
MAY Be AN EXTRA SESSION
OPPOSITION IN THE UPPER
HOUSE.
Especial to The Herald.)

washington. Feb. 1O.-The treaty be-
..asn the United states and Santo Do
,,,,oo which has been pending in the
I-,itsd States senate for ratification
s,nce 1905. is to be displaced by an en-
,,reiv new treaty. which Will be sent
80 the senate soon after Feb. 10.
Tho Santo Domingo treaty as nego-
.tstod two years ago now ceases, there,
80 ia be a possible cause for an extra
lesion Of the senate. The new treaty,
rbicb win be in a greatly simplified
form freed from nearly all the causes
NJ controversy embodied IN the conven-
zion that has been pending, may be rat
i6ed before the expiration OF this con-
yress on March. AT this stage OF the
session. however the slightest resist
o,co v-ouid compel pCstp onement Of it's
ratification. But that event would not
NJ itself give sufficient cause for an
,ytra session OF the senate. because I'M
der the existing arrangement the finan-
cial affairs Of the island republic will
continue To be administered satisfac-
torilv. until tho provision made in the
new treaty for the liquidation of the
dent can be established with the ap
proval Of the senate. There can be no
reasonable doubt Of The ultimate rati-
fcation Of the new treaty. for the Tea-
son that I'm the next congress the sem
ate will contain siXty-one Republicans
I'm a total membership of ninety, or
more than the two-thirds majority re-
CURED TO ratify treaty.
Claims Of Creditors.
The negotiations Of the new treaty
and the abandonment Of the conven-
ton hitherto pending is the direct Sc
quence OF the agreement made indie
pendently by the government of Santo
Domingo with all of its foreign cred
ijors including also an arrangement for
the settlement OF its internal indebted
ness The total sum Of these claims.
which were 10 have been adjudicated
by a commission provided for i'm the
original treaty. was estimated. at the
close OF 1906. to be nearly SO. 600. 600.
The terms OF the settlement that has
been effected with all the claimants
scale this sum down TO some $1,000, 600.
But I'm order to provide for the cost OF
service Of debt, and also 10 eAsure the
settlement Of internal obligations there
is to be an ISSUE Of S20.000.0 900 Of san
Dominican bonds. % run fffty years.
bearing per cent interest
out ~ The proceeds of these bonds.
The claims arc 10 be paid in cash, upon
the terms agreed upon with each cred
itor. There Is 20 be no substitution Of
one bonded Indebtedness for another.
rs IN previous fiscal establishments and
rc-enlargements i'm the finance of Santo
Domingo.
or course the settlement OF these
claims upon a discount of about % per
cent was made POSSIBLE only by the
assurance Of cash payments and by the
reasonable certainty that the existing
temporary financial administra ton will
ne continued until the treaty shall have
been ratified. AS is we'll known. under
This temporary arrangement American
officials. appointed by the United States
government. administer the customs
houses turning over A. per cent of the
revenues 90 the Dominion government
Tor running expenses and putting 90 per
cent into safe depository for euuita-
ne division among the creditors. This
arrangement. even in it's first Nc r.
1908. produced through honest collec-
tons such an increase in revenues that
the government actually received more
from the 40 per cent that the American
collectors turned over 10 il than il got
Formerly wnen it took the entire rev
enue.
The existence OF this arrangement
ana us probable continuance also make
possible the successful issue upon IA
Norable terms Of 500. 900 of new Do
mlnican bonds to extinguish all previ-
Gus obligations or claims.
Continued on Page 2.