The other foreign creditors now pressed their claims with
more vigor than ever, and the preparations for turning over the Monte
Cristi custom-house to the American financial agent, accomplished in
February, 1905, stimulated them to greater exertions. In December,
1904, the French representative in Santo Domingo, acting in behalf of
the French and Belgian interests, threatened to seize the custom-house
of Santo Domingo City, the mainstay of the government. The Italian
creditors also demanded compliance with their agreements. It was
obvious that the foreclosure of these foreign mortgages would mean
indefinite foreign occupation and the absolute destruction of the
Dominican government, as there would be no revenue left to sustain it.
In this difficulty, the Dominican government proposed that all the
ports of the Republic be taken over by the United States. The
negotiations were carried on through the capable American minister in
Santo Domingo, Thomas C. Dawson, and on February 7,1905, culminated in
the signing of a treaty convention which provided that all Dominican
customs duties be collected under the direction of the United States,
that 45 per cent of the collections be turned over to the Dominican
government for its expenses and the remaining 55 per cent be reserved
as a creditors' fund, and that a commission be appointed to ascertain
the true amount of Dominican indebtedness and the sums payable to
each claimant.
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