DMB
21 Jan 2010, 07:47 PM
http://www.timesonline.co.uk/tol/comment/columnists/ben_macintyre/article6995750.ece
In 1825, in return for recognising Haitian independence, France demanded indemnity on a staggering scale: 150 million gold francs, five times the country’s annual export revenue. The Royal Ordinance was backed up by 12 French warships with 150 cannon.
The terms were non-negotiable. The fledgeling nation acceded, since it had little choice. Haiti must pay for its freedom, and pay it did, through the nose, for the next 122 years.
...Historical accountancy is an inexact business, but the scale of French usury was astonishing. Even when the total indemnity was reduced to 90 million francs, Haiti remained crippled by debt. The country took out loans from US, German and French banks at extortionate rates. To put the cost into perspective, in 1803 France agreed to sell the Louisiana Territory, an area 74 times the size of Haiti, to the US, for 60 million francs.
...The debt was not finally paid off until 1947. By then, Haiti’s economy was hopelessly distorted, its land deforested, mired in poverty, politically and economically unstable, prey equally to the caprice of nature and the depredations of autocrats. Seven year ago, the Haitian Government demanded restitution from Paris to the tune of nearly $22 billion (including interest) for the gunboat diplomacy that had helped to make it the poorest country in the western hemisphere.
Does anyone know more about this history?
In 1825, in return for recognising Haitian independence, France demanded indemnity on a staggering scale: 150 million gold francs, five times the country’s annual export revenue. The Royal Ordinance was backed up by 12 French warships with 150 cannon.
The terms were non-negotiable. The fledgeling nation acceded, since it had little choice. Haiti must pay for its freedom, and pay it did, through the nose, for the next 122 years.
...Historical accountancy is an inexact business, but the scale of French usury was astonishing. Even when the total indemnity was reduced to 90 million francs, Haiti remained crippled by debt. The country took out loans from US, German and French banks at extortionate rates. To put the cost into perspective, in 1803 France agreed to sell the Louisiana Territory, an area 74 times the size of Haiti, to the US, for 60 million francs.
...The debt was not finally paid off until 1947. By then, Haiti’s economy was hopelessly distorted, its land deforested, mired in poverty, politically and economically unstable, prey equally to the caprice of nature and the depredations of autocrats. Seven year ago, the Haitian Government demanded restitution from Paris to the tune of nearly $22 billion (including interest) for the gunboat diplomacy that had helped to make it the poorest country in the western hemisphere.
Does anyone know more about this history?