The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-12-08
IT, +h RenhEc of Guatemala Land of the SxCent Dollar

, logue with from so to 80 cents due on
II. He pays this amount. and then
finds that he cannot read the csta-
logue, for II Is printed In English.
About half the business letters which
come here are undeFpaid, and those
who receive them must pay extra post
age before they Will be delivered one
of the leading bankers here has just
told me OF his experience with oank
In st Louis. The st. Louis bank sent
q letter requesting Information bear
ing a 2-cent stamp. The man paid 80
cents extra postage to get II. and then
wrote a courteous letter TO the banker
and pointed out the mistake and the
annoyance such mistakes caused. In
reply he received an apologize letter
/ from the president of the St Louis
bank inclosing 30 cents worth OF
American stamps. which he could not
use The letter inclosing these stamps
also bore a 2-cent stamp, and the
Guatemalan banker had TO pay 80 cents
| to get e. lie wrote again, and the
same thing happened a third time. IL
took a fourth letter TO show THIS i've
st Louis business man that o-cent
STAMP was necessary for Guatemalan
mail. All this was thank-you business
on the part OF the Guatemalan.
GuatemsIs's Debt
| II Guatemala could make a loan OF
somethinR like s300OO.000 and nave
this secured by the customs am tolo
that she would soon be on easy street
Her foreign debt now amounts 10 uh-
der 500. 600 goo. but she has defauited
lin interest on this again ana again,
| and the whole has been readJusted on
Ia per cent basis. On the 18TH OF jury
of last year settlement, was inSos
with the fore gn Dondho!ders u t""
effect which provided that the UNPAID
Iinterest should be wiped out at inc
lend of three years. There was also a
provision as 20 securing the external
debt ~ the export duty on coitee ana
for the issuing OF new bonds sumcieht
TO discharge the present lien on III"
coffee duty.
am told that the local currency
, debt in 1909 was over s7O.000.000 n
currency. and IL is probably consider
ably more to-day II the currency
could be wiped out at anything ike
It's present value II would be a great
thing for the country
Taxes md Revenues.
At present the chief source OF the
revenue Is from the coffee export tax.
which amounts 10 about III gold a bag
AS the con zee exports are 10000. 600
or 80. 900 600 pounds a year. Il viii be
seen that this revenue II valuable II
is said that the government sells THIS
itax at the beginning OF the year 10 the
Guatemala bankers for liked sum.
Issuing therefor coffee export tax Ger
,incates The bankers sell the Ger
,incates 10 the coffee exporters and
lthey make a profit OF the certificate
face value and the sum they paw
Ito the government. and this profit Is
iby no means small.
The banks also make BIZ money from
loans. ! doubt not they made a pretty
lpenny out OF Knox's visit which must
have required several hundred tnou-
sand dollars Of new cash 10 paint up
the towns. but American Tags Tor mo
lch,ldren and champagne for the
American party. In such cases tne
president often calls upon the baneo
Ide Guatmelaia In mich Germans are
Interested Among the cntei hhA"-
cicrs are the Stahis. VINO a's
lreadv TO lend at such and other times
lof need relying on getting tnelr
money back with big Interest Am
i,oId that the.e bankers recently bought
Inn the bonds OF a loan whicn eve
lone thought had been repudiateo; me.
lpot the bonds for 4 song. and then j,
MA. found that the President mao of
lctded they were an honest deot. ar
should be redeemed. There are SUI
discontents who say that HIS hHe
Iencv President Cabrera and other Ms
o@cials shared In the prohts
ItConvright, 1912. By Frank O. Car
| penterl