New-York tribune., 1912-03-18
MR.. KNOX URGES ACTION
ON NICARAGUA TREATY
Informs President Taft That
Business Is Hampered by
Failure TO Ratify It.
coUNTRYS PLEA PATHETIC
nenies Reports of Unpleasant
Incidents on Trip Through
Republics-HOnduras
Loan Satisfactory.
from The Tribune Bureau

,rasbington, March ll-Secretary Knox
.sLed by cable from Nicaragua that
n..,dent Taft urge the Senate Foreign
t.ations Committee TO give attention TO
~ V,caraguan loan treaty, which has
IN W.. nendng more than year. The
~ the loan 10 be made to Nicaragua
-, tho Droposed convention were made
srov,n here to-day.
nr,vn Bros. & co. and J. e. w. Selig-
~ New York. have proposed to lend
us0OOOo at per cent, taking Nicaragua
sonas at 90 This money is to he used to
1s,orr, Nicaragua's currency and tax col
'I,,or systems The convention and terms
y, tbs loan have been approved by the
S,,oaraguan National Assembly.
So.retarv Knox's message, in part, fol-
lows:
rso nrornpt action of the United States
a.eta ON the loan convention is anNlOuSiy
- nrsyerfully hoped for by the govern
an an and the people of Nicaragua. on re-
rsint of reports of favorable action or nope
H Indications thereof business improves
- exchange becomes more nearly nor
NAL while disCouraglng reports lnmuehCs
business adversely and produce a ieeuhs ~
despOndenCy. .,-...,,. -,
,eeime whose cruelty and base tyrannleS
are, not comprehended by our people Near
aqua is making an earnest eHort TO recon
strnrt its government What we were
enroneIled 10 do for Cuba Nicaragua mas
done for herself, and the United states Is
In a position to do for Nicaragua Wnal u
dd for Cuba without expenditure or blSou
or treasure. While In Nicaragua oQl ollT lT
reouest was made of me and that py an
classes Of people: Help us 10 MAINTAIN
peace" Contentment and repose, they are
confident will follow revival OF business, hsI9,
Their own Willingness ana ahilltE 10 Ie,p ~
themselves they Illustrate by pointing 10
the fact that within eleven months aIter
oyerthrOWing Zelaya Nicaragua was eA~
porting products planted by the, women
while the men were carrying on the reVo-
The earnestness Of the appeals 10 the
United States for that degree OF heiptui-
ness which the treaty would anord Is al
most pathetic. The treaty mas .I had Ine SP- a.
proysl Of the Nicaraguan Congress. OD'
jections TO il are heard only from those "
Nicaragua who would perpetuate the 0ln
order OF things, under which the popuLd-
tion has been rapidly decreasing ana Jhe
country and its people exploited by ruin
Gus concessions and monopolies Whch the
government Is now successfully reducing 10
equitable proportions through the recon
structive efforts of high minded and keen
There are in Nicaragua some anarchists
and Zelayistas who, II they can get INTO
print. are willing TO talk long ana hercey'
though they do great injustice 10 the Near
aguan government and TO a great majority
OF the people, and they find those who are
willing TO publish their utterances. Rumors
OF unpleasant incidents connected with my
visit are uniformly false. As in all OF the
countries that l have visited, so here my
reception by the President, by all branches
Of the government and by the people or
Nicaragua has been most cordial ana no
unpleasant incident has occurred TO mar II.
The bankers have already advanced pre-
liminary loan of 81. 10000 TO Nicaragua as a
basis for the reform Of the country's cur
rency. which is essential to any financial
reconstruction. Two currency authorities
Charles A. Conant, who planned the cur
rency system in the Philippines, and Fran
els Harrison, formerly in charge Of the
paper currency reform in East India, have
been sent to Nicaragua by the bankers to
devise a currency system. A bank will be
established there as soon as the loan is ef-
fected.@
The loan will be secured by a portion OF
the country's import revenue, to be collect
ed by Americans appointed by the Near
sguan government, with the approval of the
President Of the United States. These col
lectors have already been appointed, Colo
mel Clifford d. Ham, formerly Collector of
the Port at Manila, being in charge.
Terms Of a new contract between Hon
daras and the Whitney Savings Bank and
Trust Company Of New Orleans have been
submitted to the State Department and
will be published soon. The Southern bank
ers have eliminated those features Of the
proposed loan which were criticised in the
sO-called Morgan loan contract and have
offered terms which will be acceptable to
Honduras