When our branch was established at Whittingham there had been an arrangement made between ourselves and the Government, by the terms of which we were to have the Government business, and to occupy, in fact, much that quasi-official position enjoyed by the Bank of England at home. 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!"