Papers Relating to the Foreign Relations of the United States, 1925, Volume II

839.51/2686

The Dominican Legation to the Department of State¹⁰

undated

[Translation]

The difference which exists between the “Aclaraciones” (explanations) incorporated in the Congressional Resolution approving the Convention of 1924 and those which are contained in the Resolution approving the Convention of 1907 is caused by certain doubts which arose in Congress when the Convention of 1924 was submitted to it. These doubts referred principally:

a) To the authorization required to contract the loan. It was thought that the approval of the Convention might be interpreted as implying an authorization to issue the loan of $25,000,000 both by the Dominican Congress and by the Department of State.

b) To the co-existence of the two Conventions as well as other legal provisions as long as the consolidation of the debt was not effected. The bonds of 1908 are governed by the Convention of 1907, those of 1918 by Executive Orders 193¹¹ and 272,¹² and those of 1922 by Executive Order 735.¹³ Each one of these bond issues is amortized in a different manner from the others. Inasmuch as Article 7 of the Convention of 1924 stipulates that the abrogation of the Convention of 1907 will be effected by the exchange of ratifications of the new Convention, it was thought that the bonds of 1908 would be governed with respect to the manner of amortization by the provisions of the revised Convention, and that the same conditions would affect the bonds of 1918 and 1922.

These questions were submitted to the Department of State by this Legation’s note No. 17 dated March 31, 1925.¹⁴ The Dominican Congress approved the Convention of 1924 only after having ascertained the view of the State Department.

The new Aclaraciones (explanations) included in the Congressional Resolution dated May 23 and 25, 1925, which do not occur (and which cannot occur) in the Convention of 1907 refer to the aforementioned points: namely, the Dominican Congress has stated in its resolution that the approval of the Convention does not carry an authorization to issue the loan of $25,000,000, and that before the consolidation of the debt is effected the sums set aside in the Convention of 1907 and in the loan contracts now in effect will be used for the service of the bonds.

10. This memorandum was left at the Department by the Dominican Minister on October 8.
11. Foreign Relations, 1918, p. 377.
12. Ibid., 1919, vol. ii, p. 148.
13. Ibid., 1922, vol. ii, p. 85.
14. The note as received by the Department was unnumbered.