Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-03-28
ALBANIAN KINGS TROUBLES
OVER MONEY AMUSE EUROPE
Forced Delay Moving His Personal Effects to Palace
Durazzo Because He Was Unable to Raise $3.50.
Other Foreign News.

1t has not been possible TO obtain
reliable information with regard to
most of these debts, but 1t is under
stood that the loans were contracted
for public improvements, and do not
include Confederate bonds or war
debts.
With the exception Of Alabama's
debt, of which no reliable Informal
ton is obtainable, the amounts owing
British bondholders are estimated as
follows:
Arkansas, So, zoe, 900; Florida, $1,000
900; Georgia. s12,700, 900; Louisiana,
Sc, 900, 900; Mississippi, $1,000, 900; North
Carolina, $12,600,000; South Carolina,
| sc, 00O. 600: West Virginia, SIS, 239 $40.
OF these debts the report, which is
signed by Viscount Goschen, the new
chairman. says:
1T is indeed deplorable that these
prosperous and progressive States of
| the great American union take no
steps to settle their defaulted debts,
and it seems, to say the least of 1t,
| an anomaly that the United States
should insist on compliance with its
obligations by n country like Santo
Domingo when so many of the states
within its own borders are not OBJ
serving their own engagements.
"The excuses put forward by these
States for non payment are manifold,
but they may be generally classed
under three heads
81, North Carolina pleads that her
defaulted obligations We're con-
tracted while the State was being ad-
ministered by the Federal Govern
ment after the Civil War. The an
swer to this, OF course, is that the
| bondholders have nothing to do with
differences between the States and
the Federal Government. One or the
other must be responsible for the is
sue OF the loans In question, and 1t is
most unfair that the State should re-
fer its creditors to the Federal Gov
| eminent and that the Federal Gov
eminent should refer them back
| again To the State. Tennessee for
many years adopted the same atti-
tude as North Carolina, but the for
mer was wise enough to realize that
no State can maintain its position
| in the world OF credit which attempts
| TO justify the reputation of opliga-
! tons by excuses which, in the case
of individuals would not be tolerated
| IN any civilized court of law, and
| therefore came To n settlement with
| the holders of It's bonds
80. Louisiana alleges that there were
| irregularities of some kind or another
/ in connection with the issue OF most
/ of her repudiated bonds. II would
of course, put an end to all credit ii
a State, on discovery that its own
/ officials had acted incorrectly in the
| course of the issue OF n loan, repu-
| dated all responsibility for the money
| obtained from the public. There is
| however, one issue, or part of an
| issue, known as baby bonds, con-
/ 80 nh oil 1fa,o
excuse can be pleaded In this case
| In spite of the fact that the bonds
| are expressed on their face to be
| issued by the State of Louisiana in
/ accordance with the States constitu-
| ton, and, although they are specially
secured on arrears of taxes collectablt
| by the State, which. it is admitted
were diverted to other purposes, pay
ment is denied ON the astonishing plea
that the bonds were not guaranteed
by the State.
'3, Mississippi's excuse for not rec.
ognizing her defaulted debt is the
worst of all Between 1881 and 1885
! the State issued two loans, for which
she obtained full value, and the pro-
ceeds of which were invested in the
establishment and development of two
| banks. SO long as the banks flourish
ed and made good profts the interest
on the loans was paid, but when
! owing to Misrepresentation, bad times
came and the banks got into difficult
ties, Mississippi made this the excuse
for ceasing all further payments t.
| the bondholders. For a State to re-
pudiate it's obligations to its credit.
ors because the investments it chooses
to make with their money do MOI
turn out profitably is absolutely indie.
feasible, and. as far as the council
| are aware. such an argument ha.
never been resorted to by even tn,
most backward of the Spanish Ameri-
can republics"
The report intimates that propose
is now before the foreign office to Sc,
cure a settlement of the claim against
! Honduras, but very little hope is en-.
tertained of it's being successful The
amount due by Honduras, includink
| interest, is roughly 1921 000,0 900. AS nj
| interest has been paid since 1872, anC
the rate on two OF the loans was ter
per cent, the amount is largely mad,
up Of unpaid interest.
COMO. Italy, March 2S.-Portei
| Charlton. the young American who
| killed his wife, Mary Scott Charlton
when they were spending theil
honeymoon here in June. 1910, has
acquired a sufficient knowledge OF
| italian to avail himself of the privi-
| lege under the Italian law to be the
| first and the last to address the jurors
| before whom he is to be tried on tho
| charge of murder.
sympaths Coz the accused you'll