1875 · Haitianyear only
Coffee pays the foreign debt, 1.20 dollars in every three by 1896
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The book gives the debt as 10,799,580 francs in 1875, 37,988,500 francs in 1896 and 64,368,500 in 1910. Servicing came from taxes on coffee exports, Haiti's principal source of foreign currency. Of every three dollars earned on coffee, thirty-three cents went to the debt in 1875, one dollar twenty in 1896 and one dollar in 1910. The mechanism the book names is a state that had become dependent on foreign support and finance, so that much of the wealth it appropriated ended up in foreign bank accounts while debt service consumed a large share of revenue. This is the sequence the book follows to the American military occupation of 1915 to 1934, presented as the culmination of the direct repenetration and dominance of foreign capital rather than as an unrelated intervention.