Publisher's Synopsis
As a quid pro quo, the bank was to lend to the Republic the sum of five hundred thousand dollars, at six percent. The President was at the time floating a loan of one million dollars for the purpose of works at the harbor of Whittingham. . . .
Or so we thought.
"That old scamp's villainy," said the colonel, jerking his thumb toward the Piazza and the statue of the Liberator. "He's very 'cute, but he's made a mistake at last."
"Do come to the point, colonel. What's it all about?"
"Would you be surprised to hear," he said, adopting a famous mode of speech, "that the interest on the debt would not be paid on the 31st?"
"No, I shouldn't," said I resignedly.
"Would you be surprised to hear that no more interest would ever be paid?"
"The devil!" I cried, leaping up. "What do you mean, man?"
"The President," said he calmly, "will, on the 31st instant, repudiate the national debt!"
