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The San Domingo Debt

The San Domingo Debt image
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The dobt of the Dominican republic is variously eMiiuated at from $1,500,000 to 50,000,000, tho former being Mr. Granl's account aad the laltor that of Bome of tho euemies of armexation. Tli o truth wo suspect to lic bctwecu tho two, aud decm it ot an extravagant surmie to put the figure at 20,000,000- a to'al that inay not appoar too large wben it is eontñdered how very raggud fur yeara past tho D minicao credit has been. In tho arijoining anarchy of Havti tho gnvcrniuctit currency lias witliin tho yoiir been at sucu a low obb that $1,000 of it have befn reqnired to oiual 1 in gold, aud as San Domingo has had its own trials it is but fair to itifcr that muoh of lts debt has becrj contracted at highly iuflated ratea. Bo thia as it tnay, bowever, and bo tho debt of Siin Domingo what it will, i f we annex tbc country we annex tho debt, and this coiisideration biiiigs us to a passage ín Mr. Gratit's lato message, He says ho had at firet thought of negotiating ttie treaty over aguin in sueh a way na to obviatu the objec.ions now urgcd against it ; "but ou refiectiop, I " doem it bctter to submit to the Senato " the propriety of their mending the " treaty as follows : First, to specif'y that " the obligations of' this gOTerntneot sliall " not exceed tho $1,500,000 stipulated " in tbu treatj-." Jlow he wou'd amesd the treaty to maku is spocify what it stipulates does not appear, aud we taku it, thcrefiire, that this muoh oí the mossage is merdly a strategie move on the part of Mr. Grant to assure the country that, in oase of anuexation; tho Uuited States aro not to assume more than 81,500,000 of the Dominican debt. Bat can this be dono ? Cun we thus annex a country, and say how much of its debl we wil] assutne and how niueh not aasumo ? We thiuk not. Ifweaonex, we must annex cum onere. 'Of course, actually ipeating, we can do otherwise. If tho debt bo $20,000,000, say, we can afBume 1,500,000 and not as.-umo the remaining S18,5O0,00O ; but this is repudiation, and probably Mr. Grant does not A to bc understood os advising Ihat, though that is just what his message does adviso. ]f ibero is any roa.-'on for awumiog Sl,500,000 ot the San Domingan debt, tbeu that same reason applies with equn] force to every other dollar of that debt above the 81,500,000. And if all above 1,500,000 is to be repu liated, wl.y not repudíate the $1,500,000 too? Why so peculiar a liinitatiou as recognitioQ up to a millioo aad a half, and no reengnition be}'oud a million and a half? The recomniendation of such a limitation a highly supicious. It suggests a trick : the limitation to dis&rm opposition, aud thus facilítate ratification,andtli3 ai-sumption of the wbole debt, the limitation to the contrary notwithstandini;. to lollow tho ratifieution.


Old News
Michigan Argus