Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1911-12-31
VENEZUELA PUTS
GOOD JOKE OVER
Action of Congress Just
Closed Tricks French
Bankers

W llienStdu, NuIaCho, ice. oV.-
The special session of the venezue-
Ian Congress has closed after per-
petrating here what is regarded as
the best joke since President Castro
was notified that he might continue
his vacation outside that country
Indefinitely.
The joke was on the French bank
ers who betrayed the expenses of the
special session convened purposely 10
approve legislation which In the final
days of the meeting was rejected.
Early last summer the government
granted concession for the estab'
lishment of a new bank with the ex-
elusive right 10 issue paper money
and to the extent of 10000 boliyares.
The bank was granted such other ad-
vantages rs probably would have re-
suited in the closing of the old-es
tablished bank of Caracas and the
Bank OF Venezuela.
This accomplished, the concession
aires took the first steamer for
France. where they had no trouble
in disposing OF the concession to the
Paris financiers. But a concession
in Venezuela does not become law
until 1t has been approved b. Con-
sress, and unfortunately congress
has just adjourned and would not
meet again in regular session for a
year. In the meantime many things
might happen. Castro might reap
pear and upset the whole plan. Ac-
cordingly, the French interests made
their acceptance of the concession
conditional upon the agreement Of
President Gomez to call Congress in
extraordinary session. Gomez was
agreeable but could not see why Ven
ezuela should be put to the expense
involved which, for salaries and trav-
cling expenses lis estimated at $780,
900.
The French bankers thought It all
over and notified the Venezuelan ex-
ecutive that they would stand the
expense Gomez, howev,t having
had some experience With Congress
and perhaps in doubt as to how the
expected legislation would turn out
cabed Paris that il would be neces-
sary to have the cash in advance.
The money was received in Cara
cas- and the congressman assembled
They deliberated for "A month anC
then instead of approving the banl
concession. passed new banking
law. sounder than the old one and
making the issuance of deprecated
paper money impossible. Congress
also decreed the coinage of 1000.
000 of bolivares of silver currenc,
and 100000 OF gold The mem
beTs then left for their homes. hav
ing much enjoyed their stay at tn,
capital, and more than ever impress
ed with French generosity.
Most OF the credit for the reaction
against the paper money danger 4
given to General NJ A. Matos, Min
lister for Foreign Affairs. himself
wealthy banker. For days and day
meetings were held nightly at Gen
eral Matos' home in his Attempt {,
convince the other members of tn,
government of the danger of tn,
new concession. He was ably sec
ondod by DIR. Jose Gil Fortoul. Min
lister of Education.
The projected revolution OF Gen
eral Jose Manuel Hernandez. VIII,
has thrown down the gauntlet {
President Gomez rom forto Rico
has now lost its battle cry OF dow
with paper money and The bank con
cession." General Hernandez was
member OF the council of state an,
is the head OF the conservative part
in Venezuela. lie has led innumer
able revolutions and has been peate
in all. lie will probably join force
with General Alexandra Rivas Vas
Quez and General Aristides Teleri
and use Trinidad as a base OF opel
ations.