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The man from Fraser was concentrating his attention on business; at least he found plenty of non-political work for Dan to do. After the troubled waters in Ranger County had been quieted and Bassett's advanced outpost in the Boordman Building had ceased to attract newspaper reporters, an important receivership to which Bassett had been appointed gave Harwood employment of a semi-legal character.
It meant that with all the cash capital taking the form of bonds, any failure to make ends meet, any lengthened depression, would bring risk of the mortgage-holders' foreclosure and receivership not merely the shareholders' waiting for a turn of the tide except in so far as the burden could be shifted to the governments that had endorsed the notes.
The perfect friendship of two men is the deepest and highest sentiment of which the finite mind is capable; women miss the best in life. In October Hamilton resigned the Receivership, having brought an honourable amount of order out of chaos and laid down the law for the guidance of future officials.
Having mixed himself up in certain important matters in Spain with generals at that time in opposition, he had made the most of these connections to the Minister, who, in consideration of the place he had lost, promised him the Receivership at Sancerre, and then allowed him to pay for the appointment.
"I've never said so, but at the conclusion of the receivership I've intended paying you for your additional work. If everything goes well my own allowance ought to be ten thousand dollars, and you're entitled to a share of it. I'll say now that it will be not less than two thousand dollars.
It not only has the management of the Army and the coast defenses, but its jurisdiction extends to the government of the Philippines and of Porto Rico and the control of the receivership of the customs revenues of the Dominican Republic; it also includes the recommendation of all plans for the improvement of harbors and waterways and their execution when adopted; and, by virtue of an Executive order, the supervision of the construction of the Panama Canal.
Having mixed himself up in certain important matters in Spain with generals at that time in opposition, he had made the most of these connections to the Minister, who, in consideration of the place he had lost, promised him the Receivership at Sancerre, and then allowed him to pay for the appointment.
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., and the United States Government, represented by Thomas C. Dawson, Minister Resident and Consul General of the United States to the Dominican Republic, have agreed: I. That the President of the United States shall appoint, a General Receiver of Dominican Customs, who, with such Assistant Receivers and other employees of the Receivership as shall be appointed by the President of the United States in his discretion, shall collect all the customs duties accruing at the several customs houses of the Dominican Republic until the payment or retirement of any and all bonds issued by the Dominican Government in accordance with the plan and under the limitations as to terms and amounts hereinbefore recited; and said General Receiver shall apply the sums so collected, as follows: First, to paying the expenses of the receivership; second, to the payment of interest upon said bonds; third, to the payment of the annual sums provided for amortization of said bonds including interest upon all bonds held in sinking fund; fourth, to the purchase and cancellation or the retirement and cancellation pursuant to the terms thereof of any of said bonds as may be directed by the Dominican Government; fifth, the remainder to be paid to the Dominican Government.
Happy by temperament, Hamilton was at this time happier in his conditions barring the Receivership than any vague, wistful, crowded dream had ever presaged. His wife was adorable and pretty, sprightly and sympathetic, yet accomplished in every art of the Dutch housewife; and although he was far too modest to boast, he was privately convinced that his baby was the finest in the Confederacy.
Prior to 1904 the revenues fluctuated according to the state of tranquillity of the country, being usually something less than $2,000,000 per annum, but immediately upon the establishment of the American receivership in April, 1905, they went up rapidly. The increase has continued steadily and the government's annual income now amounts to over $4,500,000.
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