A
brief description of each of these items will afford an idea of the
general character, of Dominican financiering and a better
understanding of Dominican history.
_Bonded Debt_. The bonded debt held by Belgians and
French and amounting to $17,670,312.75, was the final
outcome of eight consecutive bond issues floated by the
Republic, as follows:
Interest
per Term
Date Amount cent years Name_
1869 L 757,700 6 25 Hartmont loan
1888 L 770,000 6 30 Westendorp loan
1890 L 900,000 6 56 Railway loan
1893 L2,035,000 4 66 4 per cent consolidated gold bonds
1893 $1,250,000 4 66 4 per cent gold debentures
1894 $1,250,000 4 66 French-American reclamation
consols
1895 $1,750,000 4 66
1897 L1,736,750 2-3/4 102 Obligations or de Saint Domingue
L1,500,000 4 83 Dominican unified debt 4 per cent
bonds
In making its very first loan, in 1869, the Dominican government fell
into the hands of sharpers and was mercilessly fleeced.
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