-^ The Loan and its Consequences 



in Liberia as well as in England, and that bonds to bearer 

 in both countries had been disposed of for trivial sums of money. 

 Finally the republic (in 1898) admitted a loan of between 

 j^yOjOOO and ^^80,000 and agreed to pay a progressive in- 



72. MEMORIAL TO PRESIDENT J. J. ROBERTS 



terest at 3 to 5 per cent. Since 1898 the interest (which is now 

 4 per cent.) has been paid without default. This honourable 

 settlement with the bondholders (honourable especially to the 

 Liberian Government) was achieved by Mr. Arthur Barclay 



265 



