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Monetary Agreements with Panama: Hearings Before the Finance Committee of the United States Senate Forgotten Books

Monetary Agreements with Panama: Hearings Before the Finance Committee of the United States Senate

Forgotten Books

Published September 27th 2015
ISBN : 9781331378877
Paperback
58 pages
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Excerpt from Monetary Agreements With Panama: Hearings Before the Finance Committee of the United States SenateI append a copy of the treaty, marked Appendix B.The Chairman. You mean the treaty with Panama?Secretary Taft. The treaty with Panama-MoreExcerpt from Monetary Agreements With Panama: Hearings Before the Finance Committee of the United States SenateI append a copy of the treaty, marked Appendix B.The Chairman. You mean the treaty with Panama?Secretary Taft. The treaty with Panama- and my impression is that the commissioners were not appointed until after that treaty was confirmed.Senator Teller. When you speak of the confirmation by the Act of Congress, you mean the ratification of the treaty by the Senate?Secretary Taft. Yes, the ratification of the treaty and the subsequent act directing the President to take possession of the property there, passed April 28, 1904. I append a copy, marked Appendix C.The Chairman. What was the date of the Spooner Act?Secretary Taft. June 28, 1902. It may have been that the ratifications of the treaty were exchanged a little later than the time of confirmation - of course, they would have been - but the confirmation was on the 29th of March, 1904. I think the commission must have been appointed even before that, if their first meeting was held on the 22d of March, 1904.Then the President issued instructions on the 9th of May, 1904, in which he directed the course to be taken by the Commissioners, and placed the action of the Commissioners under the general supervision of the Secretary of War. Congress that year adjourned, my recollection is, in May, but I can be corrected, if that is not so.Senator Bailey. It was in April, I think (April 28).Secretary Taft. Was it in April - the 28th of April?Senator Bailey. Yes.Secretary Taft. I remember that this order was made, after Congress adjourned, and that what followed was done during a vacation. In June, 1904, I received notice that there was present, in New York, what was called a fiscal committee of the Republic of Panama, consisting of Mr. Arias and Mr. Morales, and another gentleman whose name I have forgotten. They had been sent up here by the Republic of Panama to invest the six millions of dollars out of the ten millions which had been paid before that by the Government of the United States, and that six millions was invested in mortgage securities in the city of New York at 4 1/2 per cent interest.Senator Spooner. You mean that money had been paid by the United States to Panama?Secretary Taft. It had been paid by the United States to Panama and was being invested by this committee.The Chairman. Do you remember what date it was that you first knew of the appointment of this commission?Secretary Taft. It was in June, 1904. It was quite late in June, I think. I do not remember exactly, but it was sometime in June. The committee was also authorized by their president to come and confer with me with reference to the passage of a law establishing a currency in the Isthmus. The convention, so called - I suppose it was a constitutional convention, distinguished in some way from their ordinary assembly, in that it was a body of an organizing capacity rather than merely legislative - had taken up a law establishing a currency, which had been defeated by a vote of 16 to 16.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully- any imperfections that remain are intentionally left to preserve the state of such historical works.