Under the plan of settlement the outstanding Franco-Belgian bonds and
most of the other debt items were redeemed at fifty per cent of their
face value, the Improvement Company's claim at ninety per cent, the
deferred debts and comptroller's certificates at ten per cent, and the
remaining claims at rates varying from ten to forty per cent.
Accumulated interest was remitted entirely by the creditors, except in
three cases, in which it was greatly reduced. These terms were much
better than the Republic could have expected from any commission of
investigation. The arbitral award of the San Domingo Improvement
Company was scaled down by only ten per cent, because the bonds
comprised in the award had been included therein at only one-half
their face value and the other credits had also been largely reduced;
even this small discount brought howls of protest from British
interests that had remained discreetly silent while the State
Department was pressing the claim thinking it completely American.
Payment under the plan of settlement was soon practically completed.
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