STATES IN DEFAULT

Evening Post, Volume CIV, Issue 25, 29 July 1922, Page 12

STATES IN DEFAULT

• RUSSIAy''.MEXICO, AND OTHERS. The Council of the Corporation of '■•• Foreign Bondholders has issued its annual ■.",' Teport, wKich brings .the history 'of the Z debts of ihose countries in default up i^to date. The approximate value of the Z principal of the loans in,default reaches -the enormous total.of £1,832,07,9,244, " and the interest in default is .£414,260,----1-651. Of these totals! Russia-is responleible for £1,746,721,000 of the principal ■; and £324,256,332 of the interest arrears, " while Mexico-* accounts for £54,956^213 "of principal "arid £19,882,852 of interest. ; The "Black List" of defaulters still .-■includes Honduras, which has entered ■ upon it« fiftieth .-yeai of default," and , ; Ecuador, which still fails to meet its obligations to the. Quayaquil and Quito Railway .bondholders. Various Brazilian' provincial and municipal loans are ineliidjCd, and also the province of Corrientes • in Argentina, while nothing has yet been - done by the Southern States of the Uniticd States of, America oi the former -•Confederate States to meet thoir just * debts. In reviewing . the position, how- \. ever, the council say that in view of the ■remarkable 'falling-off; in trade and the .extraordinary'fluctuations in exchange it jis perhaps a matter for congratulation fthttt the-eatalog\ie of States in default has not been materially increased in the past year. ' . .