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Updated: June 1, 2025
Dear Bahá’í Friends: Our Guardian was very pleased to see the Post card of the new German National Bahá’í Headquarters, and also to note the official cancellation mentioning the Bahá’í annual Convention. He feels sure the Faith in Germany, through means such as these, will attract an ever wider interest in the public at large.
It may be a trembling hand, for it is a wounded hand, the nerves were cut and the muscles were lacerated. That record on that leaf was made in the black ink of condemnation; but if cancellation take place, it will be made in the red ink of sacrifice. O judgment-bound brother and sister! let Christ this moment bring to that record complete and glorious cancellation.
If we wish to obtain a picture of the true direction, we must consider the condition of space which arises in place of the electric condition that has disappeared. With the possibility of turning the cancellation of the electrical condition of space into a continuous process, it became possible to observe that the neutralization of electric charges entails the appearance of heat and magnetism.
As a result of his negotiations a "funding loan" was obtained, in return for which an equivalent amount in paper money was to be turned over for cancellation at a fixed rate of exchange. Under this arrangement depreciation ceased for awhile and the financial outlook became brighter.
The greatest Republican boss of that day, Thurlow Weed, came out in defense of this plan. No power was arrayed more zealously on the side of peace of any kind than the power of money. It was estimated that two hundred millions of dollars were owed by Southerners to Northerners. War, it was reasoned, would cause the cancellation of these obligations.
"Have a surplus eleven thousand of them." Joe guiltily felt that the old man knew the stock books better than he himself. A little spot of red appeared in each cheek. Mr. Boner shoved two sheets of yellow paper across the desk toward him. "I've reordered replacement one thousand five one half, cancellation one thousand two one half." This with an air of satisfaction.
The King had repented, had he not repented there would be no cancellation. "Yes," repeated La Mothe, "very humbly I thank God, nor do I think the King can have heard as yet of the Dauphin's second danger. Monsieur, I am at your service; I was about to leave for Valmy to-night in any case." "So much the better; but I regret you must go as my prisoner. You can understand that I have no option."
Presently Cochrane called Babs and Alicia and had them witness a tentative agreement, which had to be ratified by a board of directors of a corporation back on Earth. That board would jump at it, but the stipulation for possible cancellation had to be made. It was mumbo-jumbo. Cochrane felt satisfyingly competent at handling it.
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.
In addition to the amount subject to payment and cancellation prior to November 1, there were also paid before that day certain of these bonds, with the interest thereon, amounting to $5,072,350, which were anticipated as to their maturity, of which $2,664,850 had not been called, Thus $107,341,800 had been actually applied prior to the 1st of November, 1886, to the extinguishment of our bonded and interest-bearing debt, leaving on that day still outstanding the sum of $1,153,443,112.
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