It was ratified by the United States Senate on February 25, and
by the Dominican Congress on May 3, 1907. The Dominican Congress added
what it called explanatory articles to the law by which it approved
the convention but made no change therein.
This convention, a copy of which will be found in the appendix,
recited that disturbed political conditions in the Dominican Republic
had created debts and claims amounting to over $30,000,000; and that
such debts and claims were a burden to the country and a barrier to
progress; that the Dominican Republic had effected a conditional
adjustment under which the total sum payable would amount to not more
than $17,000,000; that part of the plan of settlement was the issue
and sale of bonds to the amount of $20,000,000; that the plan was
conditional upon the assistance of the United States in the collection
of custom revenues of the Dominican Republic; and that "the Dominican
Republic has requested the United States to give and the United
States is willing to give such assistance."
The two governments therefore agreed that the President of the United
States shall appoint a general receiver of Dominican customs, who
shall collect all the customs duties in the custom-houses of Santo
Domingo until the payment or redemption of the entire bond issue.
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