The government now made a new contract with the Franco-Belgian bondholders, and for the payment of its obligations pledged its customs revenues, and specifically the income of the ports of Santo Domingo City and San Pedro de Macoris. But if there had been default before, in time of peace, with the "regie" in charge of the custom-houses, there was still less money available for the creditors now, with no control by creditors over collections and the government harassed by constant revolutionary uprisings. Small partial payments were made for two years and then ceased. As the Improvement Company's bond holdings became the subject of a special arrangement, the bonded debt of the Republic was considered to be that held by the French and Belgian creditors. However unsavory the debts which gave origin to the bond issues, and however imprudent most of the bond issues themselves, the great majority of bonds had passed into the hands of small holders, innocent third parties who sustained great loss by the continued suspension of payments. _Liquidated Debt_. The liquidated debt, secured by international protocol or formal contract, Prof. Hollander found to be as follows on June 1, 1905: San Domingo Improvement Company (American and British)................. $4,403,532.71 Consolidated internal debt (chiefly Spanish, German and American).. 1,737.151.35 Internal debt held by Vicini heirs (Italian)............................... 1,598,876.04 Old foreign debt (chiefly Italian and Dutch)............... 365,183.20 Sala claim (American)....................... 356,314.20 Vicini heirs (Italian)...................... 242,716.32 Italian protocol............................ 186,750.36 Spanish-German protocol..................... 100,034.00 B. Bancalari (Italian)...................... 175,000.00 J. B. Vicini Burgos (Italian)................ 55,500.00 Ros claim (American)......................... 39,967.78 Two cacao contracts (chiefly Dominican and German)............... 68,296.16 Bancalari, Lample & Co. (Italian)............ 16,733.19 Twenty-eight minor contracts (chiefly Spanish, American)............... 249,475.19 ------------ Total.................................... $9,595,530.40