Minister Furniss to the Secretary of State.

No. 101.]

Sir: I inclose herewith copy and translation of a law which has this day been promulgated in Le Moniteur, the official paper, and which makes provision for the payment of that part of the interest [Page 892] due on the various internal bonds, the interest on which was scaled down by the law of June 23, 1905, which became effective July 1, 1905.

This law is virtually the same as I gave in my No. 52 of April 19, 1906,a as having the sanction of the Government. By its provisions 10 cents of the export duty on every 100 pounds of coffee is set aside for this purpose and it is estimated that this will be sufficient to meet the outstanding interest indebtedness which was due July 1, 1905, $230,127.70 gold, in about three years, after which time the revenue derived by the law is to be applied to liquidating the principal of the said debt.

Attention is called to the fact that no provision is made for payment of interest on the interest now due over a year; neither is provision made for the deferred payments.

The amount to be collected will not be available until the close of the coffee crop, which is just coming in. This will occasion a delay of not less than six months before the first payment is made, and then payment will be made on only such bonds as have accepted the 50 per cent scaling down of the law of June 23, 1905.

The facts above stated are of particular interest to Americans, as not only is this legation trustee for $70,200 of these bonds, but there are many more in private hands throughout the United States.

I have, etc.,

H. W. Furniss.
[Inclosure.—Translation.]

Law.

Nord Alexis, President of the Republic, using the prerogative granted to him by article 69 of the constitution;

Considering that the proceeds of the appropriations destined for the service of the interior debt have not permitted the payment of the interests and amortizements due on that debt up to the 1st of July last, and that it is necessary to adopt relative thereto a method of settlement that assures the liquidation with as little delay as possible;

On the report of the secretary of state for finance and commerce and the advice of the council of the secretaries of state, has proposed and the legislative corps has voted the following law:

Article I. Dating from October 1, 1906, there shall be set aside ten cents (of the export duty) on each one hundred pounds of coffee exported, for the payment of the amounts due up to the first of July, 1905, for the interests and amortizements of the interior debt, as follows:

Consolidated 6 per cent reduced to 3 per cent, interests due $12,714.78
Consolidated 12 per cent reduced to 6 per cent, interests due 80,178.40
Unified loans 3,758.40
Blue titles, coupons of July, 1905 57,428.38
Rose titles, coupons of July, 1905 76,047.74
230,127.70

Art. II. Every three months there shall be divided among those having right thereto the amount in hand and collected by virtue of this appropriation up to the amount of $230,127.70.

On the liquidation of this debt the ten cents shall be added to the appropriation which at present guarantees reimbursement of the obligations of the interior debt.

[Page 893]

Art. III. The present law repeals all laws and provisions of laws that are contrary thereto. It shall be executed under the supervision of the secretary of state for finance and commerce.

Given at the palace of the House of Representatives September 3, 1906, year 103 of the independence.

S. Archer,
President of the Chamber.

G. Desrosiers,

Louis Brutus,
Secretaries.

Given at the national house at Port au Prince, September 10, 1906, year 103 of the independence.

T. A. Dupiton,
President of the Senate.

R. David,

Diogene Lerebours,
Secretaries.

In the name of the Republic.

The President of Haiti orders that the above law of the legislative corps be vested with the seal of the Republic, printed, published, and executed.


Nord Alexis.

By the President:

F. Marcelin,
Secretary of State for Finance and Commerce.
  1. Not printed.↩