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All About Big Debts and Bonds of Our Sister Republics in Central America^ IS THIS my lut letter from Central America I shall deal with business conditions and the possibilities of the countries if they can be placed upon a sound financial basis. The presen' sltuHMon is abnormal Central America is the richest part of the North Ameri? can i onf men'., and Its' people are among the poorest of our whole hemisphere Its mountains have gold, silver and copper, and its hillside* grow the best. ? --?(Tee on earth. It lies in ?he front r'oorvanj of the I ntted Stta'es. the v. orld's greatest market, and It can pro I tropical fruits which would bring In gold by tho saUHataj Nevertheless 'he bulk c-f its people are paupers, and 'he foreign bondholder hangs around its aaak ? ore heasily than did the Old .'.Ian of the Sea around that of Rinbad I rie Sailor The Umpire of C entral America. Optra! A met ica should be I he Indus ?? al ampin of the North American con t In eat, and its population as rich as any on the face of the globe. Look at it ! The country begins at Mexico and "-uns ? the Isthmus of Panama It skirts ? re PaV taV OaaOJI for a distance as great as from New York to Hetroit and Its extreme wi.it !? i* as far as from Washing ('?rieit.> to Hostoii. Ithassomuihlai.il that in the words ol John Barrett, our g-eat specialist on all things con'e.nmg l atin Amerl' a. ' if 1' could bs lifted up and laid down on our Atlantic States it ! would cover an of New Kngland and tea en enough over to make a blanket ? .ffleisnt to ruck in New York. Penneyl- , vania and New Jersey." As to the in dividual rep ibli. s Honduras is almost aa big as Pennsylvania. Guatemala al? most th?* sl/? al Mississippi. Nicaragua is equal to Nsw "i ork. and t ost^ Hlca to Vermont and New Hampshire com iined. while Salvador is ubo it :fie size ol New Jersey. This territory has a population which is fast crowding 4 uu.'W Hete In; Ouatemam we have l.MgiuOO Salvador baa more than l cmc <xju. Honduras over SOO.OOO and CoatO Hica and Nicaragua have, raoaeotieeiy, suuuw and tou.ouu The only country that is at all thickly , peopled is Salvador our New Eng . land and Mid die Atlantic States are aoout equal in si/.o to t'ei.ttal Amarica 1 lay bad at - ho .as- < ensus a population i : W,000.ON' and them Is no doubt but thai Cen'ral A rneri'-a could s .ppurt !?? '**) -ft) or so more 'han II has. Loaded With Debt. And now let me give you some idea of the mighty debt load which hangs fraag Canlial America a neck '1 "he mousy s as boi rowed for railroads and OtJafSt developii.enta. but the most of it h ?? gone Into the pockets of 'he officials and today there is hardly a govern n.er' here which ts not honeycombed with corruption and bribery. The debts are enormous. Here in O attaatala the gold loans have run high Into the millions They amounted ? o atara than tit oooin iw?. The la: a! ? urrency is now worth ? tents on ti.e dollar, and one A men. an dollar is eq sal to eighteen of the dollars of (iuate again. In Hond'i-as the situation is worse *l ha' country has a population of less than SUtnwi. and its foreign debt is i'.'j HtjM ami mare If the people should pay K Iii f ;.l : hey would have to be ;,.......e,t $;v> ; tn hea-i ac aheul ti 2> pet family ? ? 'Ming which is evidently ? 'it oi UM U'iee'ion w hen we remembee ' 'ha: ti.ai.-. of thai ?um for only a few ' cents a day. U>. you WOtadaC that Honduras can t pay its intorsnt ? The bulk of Us debt was contracted more than forty years ago and II has paid r.o interest what? ever sun e 1*7.' Indeed, the most of the ? lei,' i? in'cre-*. The original loans :..., ed up only about ft*:t>?i but the interest has climbed until it is now ? ore than three times the amount of ? *>?? orig '.a: ..ins Ni- atatfua has a foreign debt of i ft ajtjBJfl or $]??'ii ??? -he Salvador debt l- ,ib..'il ?Iii.?I a:d 'ba' of Costa Hi-a la MfBJ wan more than IIS OOS WO of whih fj*.i??>000 or 0 ???' two was inte res' In addition to these vast sums ? very ? i.untrv has its internal deh' and in most al them the i urrency ts far lielow par Where I nils Sam tomes In. And now let us see whsre Undo San. ? omen in In the first place he is in terested in the present situation on ac ? of the Monroe Ijoctrine. Wecan not have European nations interfering with affairs in Southern North America, and especially tiow as we have the Pan? ama i'anai Nevertheless lbs most of' this debt is owing to Europe, and the powers there intimate that If we n.ake them keep their hands off ?e ought t<> see that they get ba< k 'he money they hav? loaned I'he foreign bondholder in many cases wou'd be glad of *he -e turn of the principal, la. king the inter est. but they say the Cnited States should make the credit of Central A rnenca goi?d This can only be done b\ treaty arrangements whi> h will give us the superlvision and application to the t..reign debts -.f ' he customs coileetions. a> was done in the case of Santo Domin? go, resulting in the wiping out of revo l i'ion and the putting of that country on a good business basis This in short, is the proposition of the I'niTed S'?*es government With a view to this end conventions are now pending of h*v# been cri'ered hat*9 with several of the governmc-nts. ? ? ! I ??!??.! upon them, new loans aajjrilirittlsf to millions of dollars are ready for use. It was to further this movement that PaclTOtory Knox t ?. ad e his trip to Central America HO came into contact with the Preenton-* <>t the ropoltlho and 'old them 'hat they ough' to olieervc the obligations of th?! Washington conventions. Which thev had entered into through their 11 pi ci-entat i reo Me demanded tha' pro|?er aooaaoaasc condition* be <--al? liehed. and here in <i la'emala he practically told Praglda'llI t'abrcra that the currency must be reformed and the financial obligations provided for. The Honduras I>ebt. For the ordinary man to understa-id the fl.'iar.ciai s 'ustion in these- Central American tepubne ia not ?asy Take this matter of Honduras, where a ? ?? in try alrou' as bag as N'* York IrKh a population of ab-OSil half a midiori. owes IT? two orjf- The loana snare made t.e tween ttMST and ls7? and upon theip for forty years no ir.tere-c has t een paid. The loans, as I have said, are alto? gether ahout t-'. nonooo. and fifteen mil? lion-) of this bear- in'eres' a' I" BO> SOi per annum, whne on over ten .nillions the interest rate is between I and 7 per cent The bonds nn largely owned in Kng and and the Hritish bondholders proposed an arra-y-ement abou' three years ago to set'le on certain conditions Among these was ore provision that the debt was to he a lien on the customs, and another was that the tariffs we-e to he raised. The-.- also proposed to bring the chief railroads under foreign con? trol and to do other rhtnga wbir-h would seriously affe<-t cer'ain Amerf-an in '.'??' -rents To this the t'nited State? objected, and Honduras then asked our State Department to arrange for a loan This was provided for in connection with J P Morgan 4 Co If was proposed to eeftle with the foreign bondholders at 1-1 cents on the dollar, and to this they agreed. The security for the loan was I to be the custom? receipts of the govern ment. ami the loan wan to be big enough f.. >.?>t!lc the foreign debt, adjust the domestic debt arid to give funds for railroad < one'ruction arid other in'err.al ' improvements as soon aa the country was in OOn flit ton for them The loan was to oori?'.?t of bonds which were to be sold a'. V? cents on 'he dollar. This arrangemen? was made at Washington but it failed to be ra'ifiod by the Hon duran government. and sime then ar? rangements have been mad- with New Orleans banker- who are aesocia'ed wi'h 'he bankers of New York. One reason for the rejection of the Morgan proposition was the selling of the ponds at MX which the financiers here say was a v ery fair deal and more than is usually paid for <- entra! Amer? ican bonds The A-set-j of Honduras. The ouestion as to the payment of any deb; depends on the assets of '.he debtor. I am told here that Honduras has resources which will enable it to pay any debt of this kind it might contract. if the I ???"-oms re-eipts be properly bandied and the people kept free from revolutions the country will deveiope rapidly, and. sTtth funds for internal In pro i entente and railroads will soon be about the richest of all Centrai American republics. Honduras is rich in timber, including mahogar v and dye woods, and it has great agricultural possibilities. C acao, cotton, sugar < ane coffee, tobacco and other tropical and sub-tropical pro- '. ducts - an beg n.in on the lowlands, while farther up there are immense pastures fit for grazing. With rapid transit to New Orleans, there is no reason why Honduras should not be one of the fruit gardens of the Cnited States The banana is said to grow wild in ai! parts of it below thr*H? thou? sand fee* and the banana shipments now average about a million dollars a year. There are good i-ofTee lands through i. it the hill country at altitudes of about fifteen hundred feet and upward, and Ill Have You a Disordered Stomach and Liver? Do you start the day feeling that the whole world is against you? You cannot hope to "make good" under these cir? cumstances. Nobody can. You must have a clear brain and every organ in perfect trim to do justice to yourself. Dr Pierce s Golden Medical Discovery Will Bring Quick Relief Dr. R. V. Pierce found years ago that a glyceric extract of Golden Seal and Oregon grape roots, queen's root and bloodroot with black cherry bark, would aid in the assimilation of the food in the stomach, correct liver ills and in nature's own way enrich the blood, tone the entire system and con? sequently help in the restoration of perfect health. Many who have used Dr. Pierce's Golden Medical Discovery' tes? tify that they have been restored to health when suffering from stomach and liver ills. Let this famous old medicine start today to lead you to health and strength. Voir if you prefer ? you can obtain Dr. Pierre't Facmritw Firm lift ion tablet* af your druggist at SI per box. aimo in 5oV tue or %end SO onecent ?tamgm to it V. Pierre. Buffalo, for a trial box. Too can learn all abaaf hygiene, anatomy, medicine, etc.. from toe People's Cwnn Sanaa Medical Adviser, by Dr. R V. Piere?, m newly revised, an-to-data edition of which is now offered, in cloth cover*, p-tet paid, for St cents in one-cent stamps, to cover coat nf wrappir.e; and mailing onbr. Address, Dr. Pierre's Invalids Hotel, Buffalo. N V. Don*t be poieoned by ".Inggish bowels. Dr. Pierce s Pleasant Pellets regulate and Invigorate stomach, liver and bowels. Sugar coated, tiny grannies. The Beat Physicians Gave SIaa Up 1 f sra? attaches stia a mr--? . ia .l<a>M>. WK.rh araaraoaed ? ? ? 1 anrrt.-wl avaaaea sad U? .r arrttaa as Ja l> Lnnt c( tVaaahnra Taaa . BBWSf ". sn W. ? > ?? ?'f tkoacht I anva'S ??s as I was sevtsse a> trt i>?. flsres'i OaaSaa HeSirai Itarna ft >sr riaia an r?mm < wr.s 4 HT?rt a aar i. Sat Dr Pwrra* ?s*S a. i-aa Sass 9ars Sar MS, ??a i streif taaaaaaaai a t h.aUlf satraa rw ass Sa s ssrlsa r?ia>i? to taSsDr PjSTo a wmm raa es teat Saw Saar* W setetsaaas lower down are sugar lands so connected with mountain streams that their re? fineries could be run with water-power As to mine-1. Americans arc largely interested in them in different parts of Honduras, and some of the mineral pro? perties are valuable. Altogether, seven hundred mines of vailous kinds have been denounced, and there are placer deposit-) in the beds ol the rivers from which the itavtive women are taking gold. I washing it out through a sieve. The Hosarro mine, not far from the capital has been operated for over thirty years, and from it alone has come gold and silver to the amount of fls.Orie.nin Honduras has rich deposits of lead copper, and aiso of iron. zinc, nickei and coal The Case of Nicaragua. The possibilities of Nicaragua are equally good. That country has an area of forty-nine thousand square miles, and the greater part of this is good land The mountains contain large deposits of gold and silver, and more than five hundred gold mines are registered in the bureau of statistics of the republP American and Knglish. companies have secured mining con? cessions, and. as it is now, the principal mines on the West coast are in the hands of Knglish capitalists. There are rich pla<-er mines on the Atlantic slope and also quartz mines and gold bearing reef? I was told in Costa Rica that if conditions can be made safe in Nuaragtia it? mineral deposits will b? rapidly opened, and that much Ameri? can i apital is now ready for invest? ment there Nicargua has great timber resources Its coffee of the finest quality and there are extensive lands whn h "<-o!ud be devoted to sugar. The present pro slocl of the plantations is already more than a n iliion dollars a year and the bigg**! sugar estate of Central America is located there There are also egten sive banana plantations, tne fruit go-.ng bo New Orleans, while quite a large area is devoted to the raising of . ... on, the industry being subsidized hy t he government. At present the output is consumed in the country, selling at from fj to cents per poond. 'I he aver? age j reld per tree is two pound*, and ati OfM hard will yield OKI pounds to the acre, which means gross receipts of fuo ? per acre per annum. A Loan of Jl.Vixm.i. The lean to Nicaragua is $\a nr?~ .-nrt i and if ft should be carried out it will result in the putting of that country on a sound basis secured hy the < ustoOM The loan will lead to a stable current f in a land where the paper money has r.oen worth as low as 4 cents on the dollar. II would also bring ale.ut a railroad development backed try Ameri? can capital a road having baoo planned from l.ake Nicaragua to the east coast. ' forming in conne* lion with I hat lake a transcontinental route across central Amenta There is no doubr but that the interest could be paid by the i j?. toms. which would ptohablv lag resae ..-r. our management Muring the pending of the treaty the government there Ml the customs under Ml Clif? ford M Ham. former ? olle? for at the port of Manila, and under his adminis tration the receipts have almost trebled t -be same time there is hau- h oppo? sition to th? loan, and when Sr. rotary Knox visited Nicaraguas f.lot was made to blow up In* train an it passed over a bridge This was discovered through the premature explosion of a cartridge and tht? dynamite removed f orty men were *Tc*ted as being connected with the plot. toste Bios aad ftaltadar. As to the Cu?ta Hl< aii deb: tba' ? oun trv has a bet'er credit than any other of fed Tl r-eriarn _ of I a cents on every pound of imports! through' m- . he country, and an si po ? duty af ? cs,nts on each hundred; Dollars ' The policy of the 1 piled fltat** a* In j thasve ( ontfal American debts has been called dollar diplomacy. I ufssles-sta nd tb-e>tate Department d.ws ant nbj ->t< ? to the name, saying that the object is to rerlu e the dollars the people aie paying ' in the way of taxes and to eliminate the ; bulletsof the frequent revolution:-. Tney ; claim that if we should administer th? custom houses an era of peace will ser in. and we shall no' have |o send our manne? to the various countries as we have had to Honduras and of late to N K-aragua , Since 1907 every time there has been tro ihle in Central America the I'mied States has been aked to assist, arid <ler niany has shown that she expected us to aid her in her claims upon < i iiatt BtaJa while Italy has done the same as re? gard- Salvador The british OOnaldl I ?).?? Monroe Doctrine a claim whieh involves the protection of their interests in the various countries, and such claims will increase with the increased trade and Investment which will surely follow the completion of the Panama ('anal. In-! deed, it looks as though the ( nited S'ais- will have to be more or lor-- r*r -ponnble for Central America Copyright 1911. by Frank G. Car- i penter.) DANVILLE Special to The Times-Dispatch.) Danville Va . January a -do Tuesday afternoon last Mr- <; ?.' Temple and Mtas Margaret Temple entertained at a beautiful reception at tbeir home on Broad Street. Southern >mi!ax *nd other greenery u*ed in profusion, decorated the home, and every unman in the receiving liae wore American Beauty roses or sweet peas. Those receding were Mrs. 0 C Temple. |SJss Maraaret Temple. Miss Harrison, or Peter-burs. Ml-* Mary Oreen. Miss Mary Haymi-. Ml-* Emma Leign. Miss Louise Beadle- Re fresbments ?ere -ervrd in the dining-room by Mrs. H B. Temple assisted t>y Mi-s Orace Jone*. Mivi Bland Scboolttcld. and MI? Madee Vass. while in the front hall Mrs. Jame. Penn and Mi-. \. <\ i'onway served frozen puneh. being assisted by Miss Mary Temple and Mis* Krancr- Wilson. On Monday evening la-'. Miss Sarah llar n-on entertained a few friends as her home un tirven street, a parly of progressive heart hem* given by her in honor of her guest Miss Park-dale of R?hmend. Pour tables were -et for the games anil after some linn bad been spent at there refreshments were served. During the evening vocal .-election aere rendered by Miss Harrison. ItlM Brewer and Archie Ifodnett On Saturday evening a dinner dance at the Memewold t'lub ?> given by W K Fitz? gerald, in honor of Mr. and Mrs. S K. Dula I bouse party Twelve couple- were Invited, and afier a delicious repast dancing was in? dulged in untii quite a lale hour. On Saturday afternoon one of the prettiest card parties of the winter ?a- given by Mr Barne- Penn. when -he entertained in honor mt the guests of Mr and Mr-. S. K Dula. Three tabl>-? were set for bridge and each guest present recicvrsl a beautiful corsage bouquet of Richmond roses and lilies of the vallej. the gift of the hostess. The place cards were hand painted baskets of Richmond roses and lilies. A refreshment course, con? sisting of salads champagne and ices was served Mr. ami Mr- W. C. Rierson. who have veen spending several months vi?iting in several Virginia cities, left on Wednesday morning for I.vnchhurg. where they w-,11 re? main until January 19. on which date they will return to their home in California. The Rev O. oti- Mcade. of Christian?-' hurg. aa- I he gue-i i.f Mr and Mr-. John W Bot? ell. on Bro*d Street during tto CULPEPER special r.i The Ti mos-Di-patch I ? ulpeper. Va Jauu.rv Mr. .Mix ntmunvon enter" anted with an evening bridge party Thursday at her home on laxier Pisd luont sireei lo included M--dames J. Jimr< Hubert? Samuel Booker. Tucker ' heir Mullen Mer.-er Jennings anil Frederick Power Hudffin*. Mi-st-s Augusta Beunet. Adella vowell Aloe Carter Hyrd Law. Sally Anderson l.ulu -u'herlln Byrdi? Pulliani ami Jennie Latham Mea/i. Samuel s?n and Plnkne> Law Prize* were woa by Mr- Hoher'-. M;-s Law and Mr. Tucker Chelf Mr and Mr- Koffer \ylar Kicker?. Mr. and Mi- Samuel Jones aud Mr- Herndon Kile) were dinner guests Sunday of Mlas ceie-ie William- at 1 raitsMa Miss Birdie Pulliam i- -pending the week? end ?nh Mi .m l Mr- Hear) o Bannou Cooaar la AleuaaUra ami attended the Ger? man ihere Friday mghi Mr and Mrs. Cooper entertained nun a dim.er in her bouur hefore i he i ierman Mis* Louise Kray and her gue-f. Mr- John l>a> "f t.corgia were 'e. of Mrs. Kray and Mr- Welliusion Wavlaud la VVaah ingtoii. Mi-s Loa Kam visited Mr and Mr- Alfred Pulliani during the paM weak, leaving for a m-ii to her ion-ins Mr ai.d Mrs. Will Vance), of Arlington The Wednesday llridge < luh in' ' this week nuh Mr- Samuel Hooker who-e guests included all of the club im .no. r- with Mi-. Krankle Taunt, her guest Mi? Hodd Thomp? son, of Wayno-I.oro Mis.- fclUabelb Kusaell M.ss Alice Carter and Mr- Otis Mar-hall, additional .The dab priae waa won In Mr- Tucker Chelf. ihe guests by Mrs Mae-ball. T hid meeting was in the nature of a rarewell part' as Mrs booker leaves the first of the week for New York, where she will make her future home. On Saturday Mrs Booker was the gues? of honor at a going ..?av parly, given in com? pliment la her b) Mi? Bred Law. other gui'-ts sere Ihe uieinliers of the Wednesday Clab, "f which Mi? Law and .Mrs. Booker are charter members, and bridge waa tha ?hui- mint of the evening At the conclu? sion of ihe itanie- supper wa- served and Mrs llooki l wa. pre "l.ted hy the club with a beautiful ring as a souvenir of the occasion Mrs. Clarence sdvey entertained the Fancy Work Club Wednesday afternoon at her home aa K?st -in et. The guests of the club on this occasion were Mesdames John ('ovington. Morris and Bowmau. The Itilliken Card club met Tuesday after? noon with Miss Kathryti Kggborn at her home on Jamesons Hill. Those playing were Mkssaa I.Ida Lewis. Mary Jone-. Krankte, Taunt. Thompson. Pulliani. Hiis-cll t olvln. \tidersoii. Carter. Sutherlin. Leavell. Mrs. oils Marshall and Mrs. Mullen. Mrs. Oriffln Hurant was hostess at a large five hundred party Wednesday evening at her home, near Boston, this county, given In honor of her young -i-ter. Mi? Laura Smi'h aud the latter * house guest. Miss Helen Macoy. The girl- prize was won by Miss Hood Thomp-on. the men s hy Taylor Griffin, and ihe consolation by Miss Oeorgie Macoy. A salad -upper was served after the garnet, were played MIODLEBURG Special to The Times-Dispatch.? Middleburg. Va.. January li - Mr. and Mrs. Aldrich Dudley, of Hoinewood. near Middleburg. are spending some time with relatives in Louisville. Ky. They were ac? companied by their little son. Mr. and Mrs. Joshua Kletrher left their home. " The Maples. ' Loudoun i'oudi.v. last week, arid null spend the remainder of ihe winter at the W indsor Holel. Jacksonville. Kla. They were accompanied by their daugh? ter. Miss Mabel Fletcher, and their t wo sons. Joshua. Jr . and Robert. During March and April they will be *.i Palm Beach. D, c Sands. Jr.. of "Beaton.'' and Miss charlotte Noland of "Burrland. ' have re? turned to Ihelr homes after a pleasant visit to Baltimore Md. Hon Jo- B. Thomas, of New York City, is a guest at Huntland at present GORDONSVILLE Special to The Time*-Dispatch.i t iordon-ville. Va . January t> ?liev . Hugh H Hud-on pastor of ibe (iordonsville Presby? terian Chun-h. ha- returned from hi- vacation, spent wiih relatives ai Washington C H., Ohio. John Will Davenport, of Richmond, was a v 1.1 lor -everal day- this week at the bou?e of his aunt. Mrs M. V. Swan. , Mis* Kate keegan. after a pleasant rlSBfl of several weeks with her sister. Mr-. Km ma Brown, in Washington, has returned to her home here. Miss Grace Davenport has returned from a vi-ii of several days with relatives near Kapidan Mr- I II Meiiowan. of Richmond*, was a guest several days thi- week of Mrs. R. M. McCIure. in the city. Mrs. Lane C. Jackson left on Wednesday to spend -one day- with relatives and friends in Richmond. Mrs. W. L Beckham was a Richmond visitor on Wednesday. Mi-- Maude McMullan. of Rapidan. spent, seferal days this week with Misses Pearl and Grace Davenport, on King Street. Mrs. oeorge Wright was a Riehmond vis itor on Wednesday. Miss Anna Scott left a few days ago to spend the next two months with her sister--, in Louisville. Ky. Mr*. M F. Ware and daughter, of Amher-t. are vi-itors this week at the home of her son. J. T Ware, in this city "Mother?This Bread Tastes So Different Why Is It?" "It's the flour?I'm trying a brand I never/used before and I guess 1 11 have to use it alw ays, for this bread is the nicest we have ever had." The name? Why it's SEAL OF MINNESOTA Everyone in the family likes ' Seal of Minnesota" Flour?the wife, because with it every baking is a success?the family likes it because everything made with it tastes so good and it is so palatable. At all good stores in con? venient, sizes. Try this flour next time you buy. GUARANTEED New Prague Flouring Mill Co. J AMES-CARTER CO . Inc, Distributors RICHMOND \ IRGFNU C orr**>r**tmrr Sorter! A. f'. IV J \MtS. S??? Agent