And whereas a part of such plan of settlement is the issue and sale of
bonds of the Dominican Republic to the amount of $20,000,000 bearing
five per cent interest payable in fifty years and redeemable after ten
years at 102-1/2 and requiring payment of at least one per cent per
annum for amortization, the proceeds of said bonds, together with such
funds as are now deposited for the benefit of creditors from customs
revenues of the Dominican Republic heretofore received, after payment
of the expenses of such adjustment, to be applied first to the payment
of said debts and claims as adjusted and second out of the balance
remaining to the retirement and extinction of certain concessions and
harbor monopolies which are a burden and hindrance to the commerce of
the country and third the entire balance still remaining to the
construction of certain railroads and bridges and other public
improvements necessary to the industrial development of the country;
And whereas the whole of said plan is conditioned and dependent upon
the assistance of the United States in the collection of customs
revenues of the Dominican Republic and the application thereof so far
as necessary to the interest upon and the amortization and redemption
of said bonds, and the Dominican Republic has requested the United
States to give and the United States is willing to give such
assistance:
The Dominican Government, represented by its Minister of State for
Foreign Relations, Emiliano Tejera, and its Minister of State for
Finance and Commerce, Federico Velasquez H.
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