File No. 838.51/538
[Inclosure—Translation]
agreement between the haitian commission and
the national bank of haiti
Between the undersigned:
- 1st.
- The Government of the Republic of Haiti represented by (a)
His Excellency Monsieur Solon Ménos, Minister
Plenipotentiary and Envoy Extraordinary of Haiti, (b)
Monsieur Pierre Hudicourt, (c) Monsieur Auguste Magloire,
Administrator in Chief of Finiances at Port au
Prince;
- 2d.
- The National Bank of the Republic of Haiti represented by
(a) Monsieur Casenave, President of the Board of Directors;
(b) Mr. It. Farnham, Vice President of the Board of
Directors;
- 3d.
- The Banque de l’Union Parisienne represented by Monsieur
Casenave;
It has been agreed as follows:
To the end that all differences which may have existed between the
parties may be settled;
Art. 1. The monetary reform provided by
the contracts shall be carried out by operation of the plans or laws
that have been or may be adopted by the Government and, notably, by
means of the 10,000,000 francs of the 1910 loan without any
objection or opposition from the Bank to the measures finally
decided on to that end.
Art. 2. Consequently the Bank shall
restore and hold in deposit at Port au Prince the remainder of the
10,000,000 francs inclusive of the securities shipped on December
17, 1914 and carried to New York, and also the interest on the said
remainder; it will furthermore hold at the Government’s disposal, by
virtue of the law approving the present compromise, the sums
allotted for the monetary reform (other than the remainder of the
10,000,000 francs), after deducting the $66,910 seized in its
coffers under the injunction of October 20, 1914. The Government
will desist from all proceedings instituted against the Bank and
cause the seals to be removed from its coffers.
Art. 3. During the whole life of the
American-Haitian Convention of September 16, 1915, the Bank will be
the depository of the customs receipts that the Receiver General is
to collect, receive and apply, and make all payments up to the
amounts collected. After the said convention expires the Bank will
continue to perform the treasury service in accordance with its
concession contract and the 1910 loan contract.
The Treasury service will immediately revert to the Bank for receipts
other than the proceeds of customs duties.
Art. 4. By way of compensation of its
services, the Bank will retain for itself, by charging the
Government’s account for each and every transaction a commission of
1% on moneys received and 1% on moneys paid at home and abroad; all
expenses and losses by exchange incurred on account of transfers of
money to foreign countries being borne by the State. The additional
commission of on moneys transferred to foreign countries will be
discontinued until the special convention referred to in Article 17
of the concession
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contract, for the determination of a fixed price concerning foreign
remittances shall have been concluded. As regards the proceeds of
public loans floated abroad only, and all extraordinary resources
other than public loans floated at home, the Bank’s commission shall
be discontinued on moneys received and reduced to ¼% on moneys
disbursed.
The Bank’s commission bearing, on the sums that the Receiver General
is to collect, receive and apply, shall be included in the expenses
of the Receiver General’s office referred to in Article 6 of the
American-Haitian Convention of September 16, 1915.
Article 5. The Bank declares its waiver of
the commission it still has to collect on the remainder of the
capital and interests of the ten million francs set apart for the
monetary reform.
Article 6. An arrangement shall be
effected between the Government and the Bank in the matter of
reimbursing the sums due to or from the parties respectively and for
the purpose of insuring regular payment at maturity, of the
interests and commissions on the statutory advance of $562,500. On
the interests reckoned on the $200,000 transferred to the monetary
reform account in Paris at the time of the monthly payments for
August and September, 1914, the Bank will allow the Government a
bonus In the amount of the difference between the interests credited
in the monetary reform account and the interests debited in the
convention bugétaire account, and also in the amount of the
commission computed on the said monthly payment.
Article 7. It is also agreed that at the
time of the settlement of accounts between the parties, it shall be
ascertained whether expenses were specially and necessarily incurred
on account of the redemption. If so, the said expenses shall be
borne by the Government.
Article 8. Upon approval of the present
arrangement by the Haitian Legislative Power, the Bank shall hold at
the Government’s disposal 500,000 American dollars bearing ½%
monthly interest, which shall be reimbursed out of the proceeds of
the first loan intended for the redemption of the internal and
floating debts.
Article 9. The Bank will retain its
privilege of issuing bank notes and may avail itself of it upon
reaching an agreement with the Government as to the expediency’ of
the issue and the denomination of the notes.
Article 10. Mr. Casenave, in the name of
the Banque de l’Union Parisienne, accepts the foregoing compromise
and waives its preferential right as provided by Article XXIX of the
1910 loan contract, insofar only as loans which the Haitian
Government may negotiate in the United States are concerned.
Done at
Washington, in triplicate, the 10th of July,
1916.
-
Solon Ménos
-
Pierce Hudicourt
-
Auguste Magloire
-
Casenave
-
R. L. Farnham
For the Banque de l’Union Parisienne:
