The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1911-12-31
vFNEzUELANS
PLAY JOKE ON
FRENCH BANKS
RANKERS BETRAYED EXPENSES
OF SPECIAL SESSION OF CON-
GRESS WHICH IN FINAL DAYS
OF MEETING REJECTED LEGIs-
ELATION FOR WHICH SESSION
WAS CALLED.
By Associated Press.

| Willemstad, Curacao. Dec. 30.-The
special session of the Venezuelan con-
gress has closed after perpetrating
what is regarded here as the best joke
that he might continue his vacation
outside that country Indefinitely.
The joke was on the French bankers
who betrayed the expenses of the
special session convened purposely to
approve legislation which in the final
days of the meeting was rejected.
Early last summer the government
granted a concession for the establish
ment of a new bank with the exclus-
i've right to issue paper money and to
the extent Of 100000 bolivares. The
bank was granted such other advan-
tages as probably would have result
ed in the closing of the old establish
ed bank of Caracas and the Bank or
Venezuela.
This accomplished, the concession
aires took the first steamer for France,
where they had no trouble in dispos-
| ing Of the concession to Paris fnan-
ciers. But a concession in Venezuela
does not become a law until it has
been approved by congress and I'M
fortunately congress had just adjourn
| ed and would not meet again in regu-
lar session for a year. In the mean
time many things might happen. Cas-
tro might reappear and upset the
whole plan. Accordingly, 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 Venezuela should be put to
the expense involved, which, for SAL
| aries and travelling expenses, he esti-
| mated at $4,000.
and notified the Venezuelan executive
that they would stand the expense.
Gomez, however, having had some ex-
perience with congress and perhaps in
doubt as to how the expected legis-
lation would turn out. cabled Paris
that it would be necessary to have the
cash in advance.
The money was received in Caracas
and the congressman assembled
They deliberated for a month and
then instead of approving the bank
concession passed a new banking law,
Sounder than the old one and making
the issuance of deprecated paper
money impossible. Congress also de-
creed the coinage of 1000, 900 bolivares
gold. The members then left for their
homes, having much enjoyed their
stay at the capital, and more than
ever impressed with French gener-
osity.
Most of the credit for the reaction
against the paper money danger is
given to General NJ A. Matos, minis
ter for foreign affairs, himself a
wealthy banker. For days and days
meetings were held nightly at General
Matos's home in his attempt 20 con-
vince the other members of the gov
eminent of the danger of the new con-
cession. He was ably seconded by DR..
Jose Gil Fortoul minister of educa-
ton.
The projected revolution of General
Jose Manuel Hernandez, who has
thrown down the gauntlet to Presi-
dent Gomez from Porto Rico, has now
lost it's battle cry of down with
paper. money and the bank con-
cession." General Hernandez was a
member of the council of state and is
the head of the conservative party in
Venezuela. He has lead innumerable
revolutions and has been beaten in
all. He will probably join forces with
General Alexandra Rivas Vasquez and
General Aristides Telleria and use
Trinidad as base of operations.