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The Ransom: A Look Under the Hood The Ransom: A Look Under the Hood
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This series was the work of four reporters and more than a dozen researchers. Over the course of more than a year, we examined thousands of pages of original documents found in public and private archives and libraries, mainly in Haiti, the United States and France. We also read hundreds of books and articles, from tomes published shortly after the Haitian revolution began in 1791 to the most recent, which arrived in bookstores in France just months ago. We cannot cite them all. But we do want to offer readers an idea of how we researched this series and came to the conclusions we did, as well as to give credit to historians and researchers whose work formed essential building blocks for our stories.This series was the work of four reporters and more than a dozen researchers. Over the course of more than a year, we examined thousands of pages of original documents found in public and private archives and libraries, mainly in Haiti, the United States and France. We also read hundreds of books and articles, from tomes published shortly after the Haitian revolution began in 1791 to the most recent, which arrived in bookstores in France just months ago. We cannot cite them all. But we do want to offer readers an idea of how we researched this series and came to the conclusions we did, as well as to give credit to historians and researchers whose work formed essential building blocks for our stories.
Primary sourcesPrimary sources
Secondary sourcesSecondary sources
How we calculated Haiti’s payments to FranceHow we calculated Haiti’s payments to France
Historical dataHistorical data
We spent a lot of time in the Diplomatic Archives of France in the suburbs of Paris. There, we found letters and reports sent between the French foreign minister and diplomats in Port-au-Prince during the 1830s, French government letters and reports on a dispute over a 1910 loan, and many telegrams regarding the National Bank of Haiti. The archives also included an unidentified diplomat’s notes on the 1880 party commemorating the national bank, along with the text of President Lysius Salomon’s toast. Edmond Paul’s pamphlet railing against the bank, “Haïti au Soleil de 1880,” was also found there, as was a detailed, handwritten report on the finances of the national bank in the first years of the 20th century, showing how much of Haiti’s coffee tax revenue went to paying French investors.We spent a lot of time in the Diplomatic Archives of France in the suburbs of Paris. There, we found letters and reports sent between the French foreign minister and diplomats in Port-au-Prince during the 1830s, French government letters and reports on a dispute over a 1910 loan, and many telegrams regarding the National Bank of Haiti. The archives also included an unidentified diplomat’s notes on the 1880 party commemorating the national bank, along with the text of President Lysius Salomon’s toast. Edmond Paul’s pamphlet railing against the bank, “Haïti au Soleil de 1880,” was also found there, as was a detailed, handwritten report on the finances of the national bank in the first years of the 20th century, showing how much of Haiti’s coffee tax revenue went to paying French investors.
Letters and reports about the dispute over the 1910 loan were also found in the Center of Economic and Financial Archives of the French Finance Ministry, in Savigny-le-Temple, south of Paris.Letters and reports about the dispute over the 1910 loan were also found in the Center of Economic and Financial Archives of the French Finance Ministry, in Savigny-le-Temple, south of Paris.
In piecing together the financial history of the National Bank of Haiti, we relied heavily on the bank’s annual reports, which we found in the National Archives of the World of Work. That archive, located in Roubaix, France, holds a copy of the bank’s original contract. We analyzed the reports with the help of Claude Simon, a professor emeritus of accounting at the Paris-based ESCP Business School. The financial historians Éric Monnet of the Paris School of Economics and Alexia Yates of the University of Manchester provided invaluable insights.In piecing together the financial history of the National Bank of Haiti, we relied heavily on the bank’s annual reports, which we found in the National Archives of the World of Work. That archive, located in Roubaix, France, holds a copy of the bank’s original contract. We analyzed the reports with the help of Claude Simon, a professor emeritus of accounting at the Paris-based ESCP Business School. The financial historians Éric Monnet of the Paris School of Economics and Alexia Yates of the University of Manchester provided invaluable insights.
Detailed minutes from the first shareholder meeting of the National Bank of Haiti are held in the French National Archives in Paris. They provided key information about the motives for forming the bank and the inspiration that its founders drew from other colonial banks.Detailed minutes from the first shareholder meeting of the National Bank of Haiti are held in the French National Archives in Paris. They provided key information about the motives for forming the bank and the inspiration that its founders drew from other colonial banks.
The French commission that oversaw payments to former slaveholders published its bare-bones decisions in six big volumes, called the États Détaillés des Liquidations, in the National Overseas Archives in Aix-en-Provence, France. By cross-referencing them, we were able to tabulate how much the listed descendants of well-known plantation owners were officially awarded. Last year, the International Center for Research into Slavery and Post-Slavery, a French organization, published a website, REPAIRS, that essentially does the same thing for all the names listed in the États Détaillés, aiding that research.The French commission that oversaw payments to former slaveholders published its bare-bones decisions in six big volumes, called the États Détaillés des Liquidations, in the National Overseas Archives in Aix-en-Provence, France. By cross-referencing them, we were able to tabulate how much the listed descendants of well-known plantation owners were officially awarded. Last year, the International Center for Research into Slavery and Post-Slavery, a French organization, published a website, REPAIRS, that essentially does the same thing for all the names listed in the États Détaillés, aiding that research.
The archive in Aix-en-Provence also holds hundreds of pages of handwritten records from 11 months of sessions from a branch of the French commission on payments — the only records of the kind unearthed so far. The historian Frédérique Beauvois kindly shared many of them with us, but we found the full set in Aix-en-Provence.The archive in Aix-en-Provence also holds hundreds of pages of handwritten records from 11 months of sessions from a branch of the French commission on payments — the only records of the kind unearthed so far. The historian Frédérique Beauvois kindly shared many of them with us, but we found the full set in Aix-en-Provence.
The government documents revealing that two million francs of the “double debt” — money that was supposed to go only to individual property owners — had been transferred to the French state were found in Paris at the Archives of the Caisse des Dépôts et Consignations, the public bank that collected the payments. These archives also contained numerous annual reports on the double debt, which we used to track Haiti’s payments to France.The government documents revealing that two million francs of the “double debt” — money that was supposed to go only to individual property owners — had been transferred to the French state were found in Paris at the Archives of the Caisse des Dépôts et Consignations, the public bank that collected the payments. These archives also contained numerous annual reports on the double debt, which we used to track Haiti’s payments to France.
We found the logs and letters of the captain who carried the emptied coffers of the Haitian Treasury in his ship in 1826 in the Archives Départementales des Landes in southwestern France.We found the logs and letters of the captain who carried the emptied coffers of the Haitian Treasury in his ship in 1826 in the Archives Départementales des Landes in southwestern France.
We were given access to the private archives of the French historian François Blancpain in the French city of Bordeaux, where we found private correspondences of the Haitian president Louis Borno and other official documents from his tenure during the American occupation.We were given access to the private archives of the French historian François Blancpain in the French city of Bordeaux, where we found private correspondences of the Haitian president Louis Borno and other official documents from his tenure during the American occupation.
In Haiti, we collected official budgets from the government publication Le Moniteur, found in two libraries in Port-au-Prince: the Haitian Library of the Brothers of Christian Instruction and the Haitian Library of the Spiritans. We consulted archived copies of the Haitian newspaper Le Nouvelliste in both the publication’s on-site archives and at the Haitian National Library.In Haiti, we collected official budgets from the government publication Le Moniteur, found in two libraries in Port-au-Prince: the Haitian Library of the Brothers of Christian Instruction and the Haitian Library of the Spiritans. We consulted archived copies of the Haitian newspaper Le Nouvelliste in both the publication’s on-site archives and at the Haitian National Library.
In the United States, we went through archival records at the Library of Congress’s collection of papers of Woodrow Wilson, William Jennings Bryan, Philander Knox and Robert Lansing. Our reporting also relied on online documents from the State Department relating to the foreign relations of the United States.In the United States, we went through archival records at the Library of Congress’s collection of papers of Woodrow Wilson, William Jennings Bryan, Philander Knox and Robert Lansing. Our reporting also relied on online documents from the State Department relating to the foreign relations of the United States.
Other primary sources include testimonies given to the Senate Inquiry Into Occupation and Administration of Haiti and Santo Domingo, held 1921 to 1922, found online at the University of Florida Digital Collections (Digital Library of the Caribbean), and submissions and testimonies presented in hearings about the sale of foreign bonds or securities in the United States, held before the Committee on Finance of the U.S. Senate, 72nd Congress, 1931 to 1932, found on FRASER, a digital library of U.S. economic, financial, and banking history.Other primary sources include testimonies given to the Senate Inquiry Into Occupation and Administration of Haiti and Santo Domingo, held 1921 to 1922, found online at the University of Florida Digital Collections (Digital Library of the Caribbean), and submissions and testimonies presented in hearings about the sale of foreign bonds or securities in the United States, held before the Committee on Finance of the U.S. Senate, 72nd Congress, 1931 to 1932, found on FRASER, a digital library of U.S. economic, financial, and banking history.
We also scoured 23 annual financial reports published by American officers, covering the period 1917 to 1940, which we found online at the University of Florida digital collections, among other places. We drew from the work of Peter James Hudson, an associate professor of African American studies and history at the University of California, Los Angeles; and Marc Flandreau, a professor of economic history at the University of Pennsylvania.We also scoured 23 annual financial reports published by American officers, covering the period 1917 to 1940, which we found online at the University of Florida digital collections, among other places. We drew from the work of Peter James Hudson, an associate professor of African American studies and history at the University of California, Los Angeles; and Marc Flandreau, a professor of economic history at the University of Pennsylvania.
To get a broad understanding of the history of Saint-Domingue, the Caribbean’s most productive and brutal colony, we relied on books like Laurent Dubois’s “Avengers of the New World: The Story of the Haitian Revolution,” Trevor Burnard and John Garrigus’s “The Plantation Machine: Atlantic Capitalism in French Saint-Domingue and British Jamaica,” and C.L.R James’s “The Black Jacobins: Toussaint L’Ouverture and the San Domingo Revolution.”To get a broad understanding of the history of Saint-Domingue, the Caribbean’s most productive and brutal colony, we relied on books like Laurent Dubois’s “Avengers of the New World: The Story of the Haitian Revolution,” Trevor Burnard and John Garrigus’s “The Plantation Machine: Atlantic Capitalism in French Saint-Domingue and British Jamaica,” and C.L.R James’s “The Black Jacobins: Toussaint L’Ouverture and the San Domingo Revolution.”
We also turned to the deeper studies of individual plantations, including Paul Cheney’s “Cul de Sac: Patrimony, Capitalism and Slavery in French Saint-Domingue,” Jacques de Cauna’s “Au Temps des Isles à Sucre: Histoire d’une Plantation de Saint-Domingue au XVIIIe Siècle” and Pierre Force’s “Wealth and Disaster: Atlantic Migrations from a Pyrenean Town in the 18th and 19th Centuries.”We also turned to the deeper studies of individual plantations, including Paul Cheney’s “Cul de Sac: Patrimony, Capitalism and Slavery in French Saint-Domingue,” Jacques de Cauna’s “Au Temps des Isles à Sucre: Histoire d’une Plantation de Saint-Domingue au XVIIIe Siècle” and Pierre Force’s “Wealth and Disaster: Atlantic Migrations from a Pyrenean Town in the 18th and 19th Centuries.”
To get a deeper picture of Cap-Français, we relied on the copious pages of description by the former colonist Médéric-Louis-Elie Moreau de St. Méry. A lawyer and writer from the nearby French colony of Martinique, he lived in Saint-Domingue for more than a decade starting in 1774. After escaping from Paris during the French Revolution, he arrived in Philadelphia, where he published his voluminous “Description Topographique, Physique, Civile, Politique et Historique de la Partie Française de l’Île Saint-Domingue.” Like many of these ancient books, you can find them free at the French National Library’s digital site, Gallica.To get a deeper picture of Cap-Français, we relied on the copious pages of description by the former colonist Médéric-Louis-Elie Moreau de St. Méry. A lawyer and writer from the nearby French colony of Martinique, he lived in Saint-Domingue for more than a decade starting in 1774. After escaping from Paris during the French Revolution, he arrived in Philadelphia, where he published his voluminous “Description Topographique, Physique, Civile, Politique et Historique de la Partie Française de l’Île Saint-Domingue.” Like many of these ancient books, you can find them free at the French National Library’s digital site, Gallica.
Some added details came from James E. McClellan III’s “Colonialism and Science: Saint Domingue in the Old Regime.”Some added details came from James E. McClellan III’s “Colonialism and Science: Saint Domingue in the Old Regime.”
The enslaved people of Saint-Domingue did not leave many records that we were able to find, and unfortunately, very few places in Haiti offer a sense of what their lives were like. One exception was the Baron de Vastey’s “The Colonial System Unveiled,” which was translated into English by Chris Bongie and republished by Liverpool University Press. We turned to Monique Rocourt, who invited us to travel up to the colonial ruins in the mountain chain about four hours northwest of Port-au-Prince to visit the ruins of two well-preserved coffee plantations that she is working to protect — Habitation Lamothe and Habitation Dion — and inspect the prisonlike stone slave quarters there. Some of the photos in the series are from there.The enslaved people of Saint-Domingue did not leave many records that we were able to find, and unfortunately, very few places in Haiti offer a sense of what their lives were like. One exception was the Baron de Vastey’s “The Colonial System Unveiled,” which was translated into English by Chris Bongie and republished by Liverpool University Press. We turned to Monique Rocourt, who invited us to travel up to the colonial ruins in the mountain chain about four hours northwest of Port-au-Prince to visit the ruins of two well-preserved coffee plantations that she is working to protect — Habitation Lamothe and Habitation Dion — and inspect the prisonlike stone slave quarters there. Some of the photos in the series are from there.
We were able to tabulate the shipment of enslaved people to Saint-Domingue and get a sense of conditions on the ships using the SlaveVoyages website — a multisource data set of more than 36,000 voyages by slave ships that has been growing for decades. The detail of the brands that enslaved people received were gleaned from the “missing slave” ads in the colonial newspaper, called the “Affiches Américaines,” which are available on the digital collection of the University of Florida (Digital Library of the Caribbean). For the conditions in which they lived, we relied on the French historian Gabriel Debien’s work “Les Esclaves aux Antilles Françaises (XVIIe et XVIIIe Siècles)” and many articles by David P. Geggus, including “The Caradeux and Colonial Memory” and “Sugar and Coffee Cultivation in Saint Domingue and the Shaping of the Slave Labor Force.”We were able to tabulate the shipment of enslaved people to Saint-Domingue and get a sense of conditions on the ships using the SlaveVoyages website — a multisource data set of more than 36,000 voyages by slave ships that has been growing for decades. The detail of the brands that enslaved people received were gleaned from the “missing slave” ads in the colonial newspaper, called the “Affiches Américaines,” which are available on the digital collection of the University of Florida (Digital Library of the Caribbean). For the conditions in which they lived, we relied on the French historian Gabriel Debien’s work “Les Esclaves aux Antilles Françaises (XVIIe et XVIIIe Siècles)” and many articles by David P. Geggus, including “The Caradeux and Colonial Memory” and “Sugar and Coffee Cultivation in Saint Domingue and the Shaping of the Slave Labor Force.”
The violence that enslaved people endured is documented in many books. The sadistic punishments listed were taken from Pierre de Vaissière’s “Saint-Domingue: La Société et la Vie Créoles Sous L’Ancien Régime (1629-1789).” And the most detailed source on the infamous case against Nicolas Lejeune came from Malick W. Ghachem’s “The Old Regime and the Haitian Revolution.”The violence that enslaved people endured is documented in many books. The sadistic punishments listed were taken from Pierre de Vaissière’s “Saint-Domingue: La Société et la Vie Créoles Sous L’Ancien Régime (1629-1789).” And the most detailed source on the infamous case against Nicolas Lejeune came from Malick W. Ghachem’s “The Old Regime and the Haitian Revolution.”
The early days of the Haitian revolution are still debated among historians because so few written records were left, particularly by the participants. An early accounting was written by a French colonist, Antoine Dalmas, called “Histoire de la Révolution de Saint-Domingue.” The description of a black cloud making the sky glow like the northern borealis came from his work. Another colonist, Gabriel Gros, wrote a short memoir about his experience as a prisoner of rebels after the revolution started. The description of the revolutionary leader Jeannot torturing his captives came from his account, “Isle de Saint-Domingue, Province du Nord: Précis Historique.”The early days of the Haitian revolution are still debated among historians because so few written records were left, particularly by the participants. An early accounting was written by a French colonist, Antoine Dalmas, called “Histoire de la Révolution de Saint-Domingue.” The description of a black cloud making the sky glow like the northern borealis came from his work. Another colonist, Gabriel Gros, wrote a short memoir about his experience as a prisoner of rebels after the revolution started. The description of the revolutionary leader Jeannot torturing his captives came from his account, “Isle de Saint-Domingue, Province du Nord: Précis Historique.”
We also relied on research by Carolyn E. Fick in “The Making of Haiti: The Saint Domingue Revolution from Below,” and Mr. Geggus’s analysis of the Bois Caiman ceremony in “Haitian Revolutionary Studies.”We also relied on research by Carolyn E. Fick in “The Making of Haiti: The Saint Domingue Revolution from Below,” and Mr. Geggus’s analysis of the Bois Caiman ceremony in “Haitian Revolutionary Studies.”
To understand the Leclerc expedition, we relied on the scholarship of Philippe R. Girard, including his book, “The Slaves Who Defeated Napoléon: Toussaint Louverture and the Haitian War of Independence, 1801-1804,” and an article, “The Leclerc Expedition to Saint-Domingue and the Independence of Haiti, 1802-1804.”To understand the Leclerc expedition, we relied on the scholarship of Philippe R. Girard, including his book, “The Slaves Who Defeated Napoléon: Toussaint Louverture and the Haitian War of Independence, 1801-1804,” and an article, “The Leclerc Expedition to Saint-Domingue and the Independence of Haiti, 1802-1804.”
The work by Julius S. Scott, which paints a vivid picture of the connections between slave colonies around the Americas and the ripple effects of the Haitian revolution, is “The Common Wind: Afro-American Currents in the Age of the Haitian Revolution.”The work by Julius S. Scott, which paints a vivid picture of the connections between slave colonies around the Americas and the ripple effects of the Haitian revolution, is “The Common Wind: Afro-American Currents in the Age of the Haitian Revolution.”
For the early years of Haiti as an independent country, we relied on many works, starting with the book taught in many Haitian schools and found in bookstores in Port-au-Prince, Jean-Chrysostome Dorsainvil’s “Histoire d’Haïti.” We also referred regularly to the works of two Haitian historians, Thomas Madiou and Beaubrun Ardouin. Mr. Ardouin was a senator in the government of Jean-Pierre Boyer, and was a member of the team that renegotiated the debt in 1838 on behalf of the Haitian government — so he had a front-row seat to many of the events he was documenting. We relied on the ledger of Haiti’s annual national receipts and spending during the country’s early years, printed in volume 10 and 11 of his “Études Sur l’Histoire d’Haïti.”For the early years of Haiti as an independent country, we relied on many works, starting with the book taught in many Haitian schools and found in bookstores in Port-au-Prince, Jean-Chrysostome Dorsainvil’s “Histoire d’Haïti.” We also referred regularly to the works of two Haitian historians, Thomas Madiou and Beaubrun Ardouin. Mr. Ardouin was a senator in the government of Jean-Pierre Boyer, and was a member of the team that renegotiated the debt in 1838 on behalf of the Haitian government — so he had a front-row seat to many of the events he was documenting. We relied on the ledger of Haiti’s annual national receipts and spending during the country’s early years, printed in volume 10 and 11 of his “Études Sur l’Histoire d’Haïti.”
We turned to newsletters put out by the Haitian National Heritage Institute for the history of the Citadelle.We turned to newsletters put out by the Haitian National Heritage Institute for the history of the Citadelle.
To understand the French reaction to an independent Haiti, and the continued debates about reconquering or dominating it, we drew from the voluminous work of Jean-François Brière, in particular his book, “Haiti et la France, 1804-1848: Le Rêve Brisé.” Another French historian who beat down this path was Mr. Blancpain, who wrote “Un Siècle de Relations Financières Entre Haïti et la France (1825-1922).”To understand the French reaction to an independent Haiti, and the continued debates about reconquering or dominating it, we drew from the voluminous work of Jean-François Brière, in particular his book, “Haiti et la France, 1804-1848: Le Rêve Brisé.” Another French historian who beat down this path was Mr. Blancpain, who wrote “Un Siècle de Relations Financières Entre Haïti et la France (1825-1922).”
We were lucky to get a copy of the Baron of Mackau’s report from Jean-Claude Bruffaerts a year before it was published in February as “Haïti-France, Les Chaînes de la Dette. Le Rapport Mackau (1825).”We were lucky to get a copy of the Baron of Mackau’s report from Jean-Claude Bruffaerts a year before it was published in February as “Haïti-France, Les Chaînes de la Dette. Le Rapport Mackau (1825).”
The soldier who rushed a letter to tell Boyer about the ships was Guy-Joseph Bonnet in his “Souvenirs Historique.” The soldier who rushed a letter to tell Boyer about the ships was Guy-Joseph Bonnet in his “Souvenirs Historiques.”
Alex Dupuy’s thoughts on why Boyer accepted the ordinance are captured in his book, “Rethinking the Haitian Revolution: Slavery, Independence, and the Struggle for Recognition.”Alex Dupuy’s thoughts on why Boyer accepted the ordinance are captured in his book, “Rethinking the Haitian Revolution: Slavery, Independence, and the Struggle for Recognition.”
Our understanding of the French commission on payments came from a number of sources. We found C. Vanufel and A. Champion de Villeneuve’s 1826 publication, “Code des Colons de Saint-Domingue,” incredibly useful. It is available online at the University of Florida’s digital library.Our understanding of the French commission on payments came from a number of sources. We found C. Vanufel and A. Champion de Villeneuve’s 1826 publication, “Code des Colons de Saint-Domingue,” incredibly useful. It is available online at the University of Florida’s digital library.
The work of Frédérique Beauvois on the double debt was critical, including “Monnayer l’Incalculable? L’Indemnité de Saint-Domingue, Entre Approximations et Bricolage” and “L’Indemnité de Saint-Domingue: ‘Dette d’Indépendance’ ou ‘Rançon de l’Esclavage’?”The work of Frédérique Beauvois on the double debt was critical, including “Monnayer l’Incalculable? L’Indemnité de Saint-Domingue, Entre Approximations et Bricolage” and “L’Indemnité de Saint-Domingue: ‘Dette d’Indépendance’ ou ‘Rançon de l’Esclavage’?”
Ms. Beauvois’s book, “Between Blood and Gold: The Debates Over Compensation for Slavery in the Americas,” as well as Nicholas Draper’s “The Price of Emancipation: Slave-Ownership, Compensation and British Society at the End of Slavery,” offered deep context on how the Haitian payments to slaveholders compared with other “reparations” paid to former slaveholders after abolition.Ms. Beauvois’s book, “Between Blood and Gold: The Debates Over Compensation for Slavery in the Americas,” as well as Nicholas Draper’s “The Price of Emancipation: Slave-Ownership, Compensation and British Society at the End of Slavery,” offered deep context on how the Haitian payments to slaveholders compared with other “reparations” paid to former slaveholders after abolition.
We learned the details of Jean-Joseph de Laborde’s plantations in Saint-Domingue from Bernard Foubert’s “Les Habitations Laborde à Saint-Domingue Dans la Seconde Moitié du XVIIIe Siècle,” and from François D’Ormesson and Jean-Pierre Thomas’s “Jean-Joseph de Laborde: Banquier de Louis XV, Mécène des Lumières et Inventeur des Jardins de Méréville.” The descendants of Mr. Laborde graciously offered us access to their family memoirs.We learned the details of Jean-Joseph de Laborde’s plantations in Saint-Domingue from Bernard Foubert’s “Les Habitations Laborde à Saint-Domingue Dans la Seconde Moitié du XVIIIe Siècle,” and from François D’Ormesson and Jean-Pierre Thomas’s “Jean-Joseph de Laborde: Banquier de Louis XV, Mécène des Lumières et Inventeur des Jardins de Méréville.” The descendants of Mr. Laborde graciously offered us access to their family memoirs.
We relied on Mr. Paul’s analysis in his 1876 work, “Dé l’Impôt Sur les Cafés et des Lois du Commerce Intérieur.” We relied on Mr. Paul’s analysis in his 1876 work, “Dee l’Impôt Sur les Cafés et des Lois du Commerce Intérieur.”
We mention that only a few scholars have deeply investigated the independence debt paid to France. One of them was Benoît Joachim, who wrote many articles about it and a book, “Les Racines du Sous-Développement en Haïti.” Another is Ghislain Gouraige’s “L’Indépendance d’Haïti Devant la France.”We mention that only a few scholars have deeply investigated the independence debt paid to France. One of them was Benoît Joachim, who wrote many articles about it and a book, “Les Racines du Sous-Développement en Haïti.” Another is Ghislain Gouraige’s “L’Indépendance d’Haïti Devant la France.”
To get a deeper understanding of the Haitian economy and the effect of later loans taken out by the Haitian government, we depended on Victor Bulmer-Thomas’s “The Economic History of the Caribbean Since the Napoleonic Wars” and the raw numbers he offered in online annexes. We also relied on Gusti-Klara Gaillard’s “L’Expérience Haïtienne de la Dette Extérieure,” and Alain Turnier’s “La Société des Baïonnettes: un Regard Nouveau,” which the Haitian archivist Patrick Tardieu kindly dug up for us, along with many other hard-to-find titles.To get a deeper understanding of the Haitian economy and the effect of later loans taken out by the Haitian government, we depended on Victor Bulmer-Thomas’s “The Economic History of the Caribbean Since the Napoleonic Wars” and the raw numbers he offered in online annexes. We also relied on Gusti-Klara Gaillard’s “L’Expérience Haïtienne de la Dette Extérieure,” and Alain Turnier’s “La Société des Baïonnettes: un Regard Nouveau,” which the Haitian archivist Patrick Tardieu kindly dug up for us, along with many other hard-to-find titles.
We found detailed information on Haiti’s finances in Leslie F. Manigat’s “La Substitution de la Prépondérance Américaine à la Prépondérance Française en Haïti au Début du XXe Siècle: La Conjoncture de 1910-1911,” Arthur C. Millspaugh’s “Haiti Under American Control 1915-1930” and Guy Pierre’s article “L’Implantation et l’Éviction de la Banque Française Dans la Caraïbe Entre la Fin du XIXe Siècle et le Début du XXe.”We found detailed information on Haiti’s finances in Leslie F. Manigat’s “La Substitution de la Prépondérance Américaine à la Prépondérance Française en Haïti au Début du XXe Siècle: La Conjoncture de 1910-1911,” Arthur C. Millspaugh’s “Haiti Under American Control 1915-1930” and Guy Pierre’s article “L’Implantation et l’Éviction de la Banque Française Dans la Caraïbe Entre la Fin du XIXe Siècle et le Début du XXe.”
David Todd’s “A Velvet Empire: French Informal Imperialism in the 19th Century” explained France’s shift from territorial conquest to a softer version of imperialism that became a prototype for neocolonialism. Frank Griffith Dawson’s “The First Latin American Debt Crisis: The City of London and the 1822-25 Loan Bubble” helped us understand the broader context of foreign bonds that were issued in Europe when Haiti first was saddled with its double debt.David Todd’s “A Velvet Empire: French Informal Imperialism in the 19th Century” explained France’s shift from territorial conquest to a softer version of imperialism that became a prototype for neocolonialism. Frank Griffith Dawson’s “The First Latin American Debt Crisis: The City of London and the 1822-25 Loan Bubble” helped us understand the broader context of foreign bonds that were issued in Europe when Haiti first was saddled with its double debt.
The team of international scholars who considered the Haitian independence debt as “perhaps the single most odious sovereign debt in history” were Kim Oosterlinck, Ugo Panizza, Mark C. Weidemaier and Mitu Gulati. We cite their research paper, “The Odious Haitian Independence Debt.”The team of international scholars who considered the Haitian independence debt as “perhaps the single most odious sovereign debt in history” were Kim Oosterlinck, Ugo Panizza, Mark C. Weidemaier and Mitu Gulati. We cite their research paper, “The Odious Haitian Independence Debt.”
Details of the 1874 and 1875 loans were taken from a number of sources, including the records of Haiti’s parliamentary inquiry, conducted in 1877 and compiled in the 12-part tome, “Enquête Parlementaire Sur les Emprunts du Gouvernement Domingue à l’Étranger.”Details of the 1874 and 1875 loans were taken from a number of sources, including the records of Haiti’s parliamentary inquiry, conducted in 1877 and compiled in the 12-part tome, “Enquête Parlementaire Sur les Emprunts du Gouvernement Domingue à l’Étranger.”
Spenser St. John’s description of Port-au-Prince comes from his volume, “Hayti, or The Black Republic.”Spenser St. John’s description of Port-au-Prince comes from his volume, “Hayti, or The Black Republic.”
Any study of Haiti’s national bank benefits from the contemporaneous accounts of Frédéric Marcelin, the Haitian finance minister who documented his combative relationship with the bank in a number of his works, including “La Banque Nationale d’Haïti: Une Page d’Histoire.”Any study of Haiti’s national bank benefits from the contemporaneous accounts of Frédéric Marcelin, the Haitian finance minister who documented his combative relationship with the bank in a number of his works, including “La Banque Nationale d’Haïti: Une Page d’Histoire.”
We also built on the work conducted by the Haitian economist Joseph Chatelain, who in 1954 published “La Banque Nationale: Son Histoire, Ses Problèmes.”We also built on the work conducted by the Haitian economist Joseph Chatelain, who in 1954 published “La Banque Nationale: Son Histoire, Ses Problèmes.”
Crédit Industriel et Commercial’s history in Haiti was challenging to piece together, as the bank said that it maintained no archives from its early years, and bank officials refused to discuss the matter. Research by the historian Nicolas Stoskopf of Haute-Alsace University, including “Histoire du Crédit Industriel et Commercial (1859-2009),” did not directly cover the bank’s involvement in Haiti but provided essential background on the lender. In interviews, Mr. Stoskopf offered context and guidance.Crédit Industriel et Commercial’s history in Haiti was challenging to piece together, as the bank said that it maintained no archives from its early years, and bank officials refused to discuss the matter. Research by the historian Nicolas Stoskopf of Haute-Alsace University, including “Histoire du Crédit Industriel et Commercial (1859-2009),” did not directly cover the bank’s involvement in Haiti but provided essential background on the lender. In interviews, Mr. Stoskopf offered context and guidance.
For the U.S. occupation of Haiti, we referred to Mr. Hudson’s “Bankers and Empire: How Wall Street Colonized the Caribbean,” including his research into Wall Street’s exploits in the Caribbean and his thoughts on the lasting legacy of the occupation.For the U.S. occupation of Haiti, we referred to Mr. Hudson’s “Bankers and Empire: How Wall Street Colonized the Caribbean,” including his research into Wall Street’s exploits in the Caribbean and his thoughts on the lasting legacy of the occupation.
We also referred to Dana Munro’s “Intervention and Dollar Diplomacy in the Caribbean, 1900-1921” and “The United States and the Caribbean Republics, 1921-1933” for the financial aspects of American foreign policy in the region.We also referred to Dana Munro’s “Intervention and Dollar Diplomacy in the Caribbean, 1900-1921” and “The United States and the Caribbean Republics, 1921-1933” for the financial aspects of American foreign policy in the region.
Yveline Alexis, and her book, “Haiti Fights Back: The Life and Legacy of Charlemagne Péralte,” added to our understanding of Haitian resistance to the occupation. James Weldon Johnson’s “Self-Determining Haiti,” four articles published in The Nation in 1920, also explored the early years of occupation.Yveline Alexis, and her book, “Haiti Fights Back: The Life and Legacy of Charlemagne Péralte,” added to our understanding of Haitian resistance to the occupation. James Weldon Johnson’s “Self-Determining Haiti,” four articles published in The Nation in 1920, also explored the early years of occupation.
We drew from other accounts of the occupation, including Hans Schmidt’s “The United States Occupation of Haiti, 1915-1934,” Patrick Bellegarde-Smith’s “Haiti: The Breached Citadel,” and Mr. Dubois’s “Haiti: The Aftershocks of History.” Other works we referred to included Suzy Castor’s “L’Occupation Américaine d’Haïti”; Raymond Leslie Buell’s “The American Occupation of Haiti”; Roger Gaillard’s “Les Blancs Débarquent, Hinche Mise en Crois, 1917-1918”; Brenda Gayle Plummer’s “Haiti and the Great Powers, 1902-1915”; and Jonathan M. Katz’s “Gangsters of Capitalism: Smedley Butler, the Marines, and the Making and Breaking of America’s Empire”; which offered an account of events in Haiti from the perspective of an American marine.We drew from other accounts of the occupation, including Hans Schmidt’s “The United States Occupation of Haiti, 1915-1934,” Patrick Bellegarde-Smith’s “Haiti: The Breached Citadel,” and Mr. Dubois’s “Haiti: The Aftershocks of History.” Other works we referred to included Suzy Castor’s “L’Occupation Américaine d’Haïti”; Raymond Leslie Buell’s “The American Occupation of Haiti”; Roger Gaillard’s “Les Blancs Débarquent, Hinche Mise en Crois, 1917-1918”; Brenda Gayle Plummer’s “Haiti and the Great Powers, 1902-1915”; and Jonathan M. Katz’s “Gangsters of Capitalism: Smedley Butler, the Marines, and the Making and Breaking of America’s Empire”; which offered an account of events in Haiti from the perspective of an American marine.
For our research into the Duvalier era, we relied on works by Bernard Diederich, “The Price of Blood: History of Repression and Rebellion in Haiti Under Dr. François Duvalier, 1957-1961”; and “Papa Doc and The Tonton Macoutes,” which he wrote with Al Burt. We also referred to James Ferguson’s “Papa Doc, Baby Doc: Haiti and the Duvaliers,” and Mats Lundahl’s “Peasants and Poverty: A Study of Haiti.” For deeper analysis of Duvalier’s predatory government and its links to previous governments, we turned to Michel-Rolph Trouillot’s “Haiti: State Against Nation: The Origins and Legacy of Duvalierism.”For our research into the Duvalier era, we relied on works by Bernard Diederich, “The Price of Blood: History of Repression and Rebellion in Haiti Under Dr. François Duvalier, 1957-1961”; and “Papa Doc and The Tonton Macoutes,” which he wrote with Al Burt. We also referred to James Ferguson’s “Papa Doc, Baby Doc: Haiti and the Duvaliers,” and Mats Lundahl’s “Peasants and Poverty: A Study of Haiti.” For deeper analysis of Duvalier’s predatory government and its links to previous governments, we turned to Michel-Rolph Trouillot’s “Haiti: State Against Nation: The Origins and Legacy of Duvalierism.”
Much of the work on President Jean-Bertrand Aristide’s 2003 campaign, and his ouster, was collected through dozens of interviews, firsthand accounts and newspaper articles from that era. But for additional background and analysis, we drew from Peter Hallward’s “Damming the Flood: Haiti, Aristide, and the Politics of Containment,” Randall Robinson’s “An Unbroken Agony: Haiti, From Revolution to the Kidnapping of a President,” and Hilary McD. Beckles’s “Britain’s Black Debt: Reparations for Caribbean Slavery and Native Genocide.”Much of the work on President Jean-Bertrand Aristide’s 2003 campaign, and his ouster, was collected through dozens of interviews, firsthand accounts and newspaper articles from that era. But for additional background and analysis, we drew from Peter Hallward’s “Damming the Flood: Haiti, Aristide, and the Politics of Containment,” Randall Robinson’s “An Unbroken Agony: Haiti, From Revolution to the Kidnapping of a President,” and Hilary McD. Beckles’s “Britain’s Black Debt: Reparations for Caribbean Slavery and Native Genocide.”
Finally, to understand the history of coffee in Haiti, and the role it played in the country’s economy, we relied on Pierre V. Benoit’s “Évolution Budgetaire et Développement Économique d’Haiti,” Mr. Paul’s “Dé l’Impôt Sur les Cafés et des Lois du Commerce Intérieur,” Paul Moral’s article “La culture du Café en Haïti: Des Plantations Coloniales aux ‘Jardins’ Actuels,” Michel-Rolph Trouillot’s article “Motion in the System: Coffee, Color, and Slavery in 18th-Century Saint-Domingue,” and Christian A. Girault’s “Le Commerce du Café en Haïti: Habitants, Spéculateurs et Exportateurs.”Finally, to understand the history of coffee in Haiti, and the role it played in the country’s economy, we relied on Pierre V. Benoit’s “Évolution Budgetaire et Développement Économique d’Haiti,” Mr. Paul’s “Dé l’Impôt Sur les Cafés et des Lois du Commerce Intérieur,” Paul Moral’s article “La culture du Café en Haïti: Des Plantations Coloniales aux ‘Jardins’ Actuels,” Michel-Rolph Trouillot’s article “Motion in the System: Coffee, Color, and Slavery in 18th-Century Saint-Domingue,” and Christian A. Girault’s “Le Commerce du Café en Haïti: Habitants, Spéculateurs et Exportateurs.”
Abel Cleomé of the Haitian National Institute of Coffee provided us with national statistics on production, consumption and exportation over the past 70 years.Abel Cleomé of the Haitian National Institute of Coffee provided us with national statistics on production, consumption and exportation over the past 70 years.
To track Haiti’s foreign debt payments to France and the United States in the 19th century and the early 20th century, we relied on hundreds of pages of documents from about 50 independent sources, published from the 1820s to recent years.To track Haiti’s foreign debt payments to France and the United States in the 19th century and the early 20th century, we relied on hundreds of pages of documents from about 50 independent sources, published from the 1820s to recent years.
From 1825, when Haiti was first forced to make the payments, through 1957, the last year of payment on a loan from France, Haiti’s external debt was mainly composed of seven distinct debts. The payments to former slaveholders and the 1825 loan that was contracted with French banks to cover the first installment is often referred to as the “double debt” by historians. From 1825, when Haiti was first forced to make the payments, through 1957, the last year of payment on a loan from France, Haiti’s external debt was mainly composed of seven distinct debts. The payments to former slaveholders and the 1825 loan that was contracted with French banks to cover the first installment are often referred to as the “double debt” by historians.
To reconstruct how much Haiti paid on its double debt, including in interest, during the first half of the 19th century, we relied primarily on letters and reports from French officials, and on an 1835 French parliamentary inquiry into the 1825 loan. These documents were found in the Archives of the French Foreign Ministry, on the outskirts of Paris. We also relied on brochures and pamphlets written by French bondholders, which can be consulted on Gallica, the digital version of France’s National Library. For several key years, we also crosschecked the figures with those reported in the work of Mr. Ardouin, the 19th-century Haitian historian and politician who participated in the renegotiation of the debt in 1838.To reconstruct how much Haiti paid on its double debt, including in interest, during the first half of the 19th century, we relied primarily on letters and reports from French officials, and on an 1835 French parliamentary inquiry into the 1825 loan. These documents were found in the Archives of the French Foreign Ministry, on the outskirts of Paris. We also relied on brochures and pamphlets written by French bondholders, which can be consulted on Gallica, the digital version of France’s National Library. For several key years, we also crosschecked the figures with those reported in the work of Mr. Ardouin, the 19th-century Haitian historian and politician who participated in the renegotiation of the debt in 1838.
For the payments during the second half of the 19th century, we also turned to the work of Mr. Marcelin, the Haitian finance minister at the turn of the 20th century, especially his book, “Haïti et l’Indemnité Française.” We crosschecked Mr. Marcelin’s figures with financial reports from the Caisse des Dépôts et Consignations, the French public bank that collected the payments, which were found in the bank’s archives in Paris. And we checked the figures against letters and reports from French diplomats.For the payments during the second half of the 19th century, we also turned to the work of Mr. Marcelin, the Haitian finance minister at the turn of the 20th century, especially his book, “Haïti et l’Indemnité Française.” We crosschecked Mr. Marcelin’s figures with financial reports from the Caisse des Dépôts et Consignations, the French public bank that collected the payments, which were found in the bank’s archives in Paris. And we checked the figures against letters and reports from French diplomats.
In some years, the French and Haitian governments recorded slightly different payments from Haiti to France. But in those cases, the accounting of the payments was reconciled, because in subsequent years both governments showed the same amount of debt had ultimately been paid. Some payments, in fact, are recorded as lump sums that cover multiple years. Because of that, we have used average annual payments during some periods. And in seven years, we used a French parliamentary report and a report from French bondholders to estimate the value of bonds that were bought back by Haiti on its loan.In some years, the French and Haitian governments recorded slightly different payments from Haiti to France. But in those cases, the accounting of the payments was reconciled, because in subsequent years both governments showed the same amount of debt had ultimately been paid. Some payments, in fact, are recorded as lump sums that cover multiple years. Because of that, we have used average annual payments during some periods. And in seven years, we used a French parliamentary report and a report from French bondholders to estimate the value of bonds that were bought back by Haiti on its loan.
In years where we could not find supporting documentation that a payment had been made, we assumed that nothing was paid and left it out of our total calculations.In years where we could not find supporting documentation that a payment had been made, we assumed that nothing was paid and left it out of our total calculations.
For the subsequent five loans, from 1874 to 1957, we drew on a variety of sources, including reports and letters from French and American diplomats in Haiti. We checked annual reports published by American officers of the customs receivership for the fiscal years 1917 to 1922, and reports by the American financial adviser-general receiver for fiscal years 1923 to 1940. We also consulted reports from the French Finance Ministry and from the National Bank of Haiti, and dozens of articles from the French financial press, found at the archives of the World of Work in northern France.For the subsequent five loans, from 1874 to 1957, we drew on a variety of sources, including reports and letters from French and American diplomats in Haiti. We checked annual reports published by American officers of the customs receivership for the fiscal years 1917 to 1922, and reports by the American financial adviser-general receiver for fiscal years 1923 to 1940. We also consulted reports from the French Finance Ministry and from the National Bank of Haiti, and dozens of articles from the French financial press, found at the archives of the World of Work in northern France.
We asked six historians and economists from Haiti and Europe to review our data, check our sources and provide historical background for the numbers. They were Gusti-Klara Gaillard, Jean-François Brière, Oliver Gliech, Victor Bulmer-Thomas, Guy Pierre and Alex Dupuy.We asked six historians and economists from Haiti and Europe to review our data, check our sources and provide historical background for the numbers. They were Gusti-Klara Gaillard, Jean-François Brière, Oliver Gliech, Victor Bulmer-Thomas, Guy Pierre and Alex Dupuy.
We then asked 15 economists and financial historians to review the calculations we made to estimate the long-term impact of the double debt on Haiti’s economy: Victor Bulmer-Thomas, Ugo Panizza, Thomas Piketty, Rui Esteves, Dani Rodrik, Jacques-Marie Valsin, Seema Jayachandran, André A. Hofman, Guy Pierre, Mats Lundahl, Andrea F. Presbitero, Éric Monnet, Denis Cogneau, Pierre-Cyrille Hautcoeur and Thomas Lalime.We then asked 15 economists and financial historians to review the calculations we made to estimate the long-term impact of the double debt on Haiti’s economy: Victor Bulmer-Thomas, Ugo Panizza, Thomas Piketty, Rui Esteves, Dani Rodrik, Jacques-Marie Valsin, Seema Jayachandran, André A. Hofman, Guy Pierre, Mats Lundahl, Andrea F. Presbitero, Éric Monnet, Denis Cogneau, Pierre-Cyrille Hautcoeur and Thomas Lalime.
To make the debt payment figures easier to understand, we converted them into today’s dollars, using exchange rates for French francs found in Mr. Bulmer-Thomas’s “The Economic History of the Caribbean since the Napoleonic Wars.” We then accounted for inflation by adjusting the value to 2021 U.S. dollars, using historical consumer price index data from the Federal Reserve Bank of Minneapolis.To make the debt payment figures easier to understand, we converted them into today’s dollars, using exchange rates for French francs found in Mr. Bulmer-Thomas’s “The Economic History of the Caribbean since the Napoleonic Wars.” We then accounted for inflation by adjusting the value to 2021 U.S. dollars, using historical consumer price index data from the Federal Reserve Bank of Minneapolis.
Since the payments were made in French francs, we also tried adjusting for French inflation, and then converted the sums to 2021 dollars. We used French inflation figures from “Capital is Back: Wealth-Income Ratios in Rich Countries 1700-2010,” by Mr. Piketty and Mr. Zucman. The results we obtained with this alternative method were nearly the same as when we used U.S. inflation rates.Since the payments were made in French francs, we also tried adjusting for French inflation, and then converted the sums to 2021 dollars. We used French inflation figures from “Capital is Back: Wealth-Income Ratios in Rich Countries 1700-2010,” by Mr. Piketty and Mr. Zucman. The results we obtained with this alternative method were nearly the same as when we used U.S. inflation rates.
To better understand how these payments burdened the Haitian economy for decades, we first looked at government budgets, which can be found in the archives of Le Moniteur, the Haitian government publication. We hoped to obtain estimates of the share of the debt service in Haiti’s annual government spending. But judging from the budgets that were published, extra lines of credit were regularly added throughout the calendar year, making reliable estimates of the budgets difficult. We therefore decided to compare these debt service figures with estimates of Haiti’s public revenues, which can be found in Mr. Bulmer-Thomas’s work.To better understand how these payments burdened the Haitian economy for decades, we first looked at government budgets, which can be found in the archives of Le Moniteur, the Haitian government publication. We hoped to obtain estimates of the share of the debt service in Haiti’s annual government spending. But judging from the budgets that were published, extra lines of credit were regularly added throughout the calendar year, making reliable estimates of the budgets difficult. We therefore decided to compare these debt service figures with estimates of Haiti’s public revenues, which can be found in Mr. Bulmer-Thomas’s work.
We also drew from the master’s thesis “Public Debt and Slavery: The Case of Haiti (1760-1915),” written by Simon Henochsberg, a former student at the Paris School of Economics, as it is one of the few studies that includes broad estimates of Haiti’s gross domestic product in the 19th century.We also drew from the master’s thesis “Public Debt and Slavery: The Case of Haiti (1760-1915),” written by Simon Henochsberg, a former student at the Paris School of Economics, as it is one of the few studies that includes broad estimates of Haiti’s gross domestic product in the 19th century.
To build estimates of the long-term economic impact of the double debt, we decided to use two assumptions — one conservative and one less so — to offer a range of what the payments on the double debt, had they stayed in Haiti, would add up to today.To build estimates of the long-term economic impact of the double debt, we decided to use two assumptions — one conservative and one less so — to offer a range of what the payments on the double debt, had they stayed in Haiti, would add up to today.
We considered as part of the double debt the demands for payment that were pressed upon Haiti in 1825 and the first loan that was contracted the same year to finance the first installment. In an attempt to be as conservative as possible, we did not include the 1874 and 1875 loans as part of the double debt, despite the fact that they helped pay part of the payments to France and the 1825 loan.We considered as part of the double debt the demands for payment that were pressed upon Haiti in 1825 and the first loan that was contracted the same year to finance the first installment. In an attempt to be as conservative as possible, we did not include the 1874 and 1875 loans as part of the double debt, despite the fact that they helped pay part of the payments to France and the 1825 loan.
We assumed that, at a minimum, the sum that was paid could have stayed in Haiti and grown at the same pace as the rest of Haiti’s economy. This scenario assumes that the money would have been poorly invested because, in this model, it would not have bolstered the country’s economic growth.We assumed that, at a minimum, the sum that was paid could have stayed in Haiti and grown at the same pace as the rest of Haiti’s economy. This scenario assumes that the money would have been poorly invested because, in this model, it would not have bolstered the country’s economic growth.
To do this, we first calculated the annual average compound real growth rates of Haiti’s G.D.P., drawing from estimates of Haiti’s nominal G.D.P. in the 19th century in Mr. Henochsberg’s work. We used World Bank data for Haiti’s 2020 G.D.P. (We did not use Haiti’s G.D.P. in 2021 because nominal values in 2021 artificially rose because of the sudden appreciation of the Haitian gourde against the U.S. dollar after Haiti’s government leveraged a strong gourde policy to tame inflation.)To do this, we first calculated the annual average compound real growth rates of Haiti’s G.D.P., drawing from estimates of Haiti’s nominal G.D.P. in the 19th century in Mr. Henochsberg’s work. We used World Bank data for Haiti’s 2020 G.D.P. (We did not use Haiti’s G.D.P. in 2021 because nominal values in 2021 artificially rose because of the sudden appreciation of the Haitian gourde against the U.S. dollar after Haiti’s government leveraged a strong gourde policy to tame inflation.)
We found that, on average, Haiti has had a 2.15 percent annual compound real growth rate from 1825 to 2020, and concluded that, if the money spent paying the debt had grown at the same pace as the country’s economy, it would have added $21 billion to Haiti’s economy over time, which is considerably more than the country’s G.D.P. in 2020.We found that, on average, Haiti has had a 2.15 percent annual compound real growth rate from 1825 to 2020, and concluded that, if the money spent paying the debt had grown at the same pace as the country’s economy, it would have added $21 billion to Haiti’s economy over time, which is considerably more than the country’s G.D.P. in 2020.
This first model holds that the debt payments Haiti made every year for over six decades had no effect on Haiti’s G.D.P. growth, and therefore assumes that most investments made with the money would have been squandered because of various reasons, such as government corruption and misspending.This first model holds that the debt payments Haiti made every year for over six decades had no effect on Haiti’s G.D.P. growth, and therefore assumes that most investments made with the money would have been squandered because of various reasons, such as government corruption and misspending.
All but one of the 15 economists to whom we presented our work agreed with the $21 billion estimate. Some said that it was within an acceptable range; others found it conservative and said that the long-term losses to Haiti might actually be higher.All but one of the 15 economists to whom we presented our work agreed with the $21 billion estimate. Some said that it was within an acceptable range; others found it conservative and said that the long-term losses to Haiti might actually be higher.
As several economists we spoke to pointed out, it is very plausible that if Haiti had been able to use this money — rather than shipping it off to France without getting any goods or services in return — it would have stimulated the economy and lifted Haiti’s economic growth.As several economists we spoke to pointed out, it is very plausible that if Haiti had been able to use this money — rather than shipping it off to France without getting any goods or services in return — it would have stimulated the economy and lifted Haiti’s economic growth.
To come up with the second, less conservative estimate, we assumed that, if this money had stayed in Haiti, the country’s growth could have mirrored that of its neighbors across Latin America, a scenario that several economists said was realistic.To come up with the second, less conservative estimate, we assumed that, if this money had stayed in Haiti, the country’s growth could have mirrored that of its neighbors across Latin America, a scenario that several economists said was realistic.
In “Long Run Economic Growth Performance in Latin America, 1820-2016,” Mr. Hofman and Patricio Valderrama estimated Latin America’s annual average compound real growth from 1820 to 2016 at 3.2 percent. Using that rate, the opportunity cost of Haiti’s payments to France increased to $115 billion, or about eight times Haiti’s 2020 GDP.In “Long Run Economic Growth Performance in Latin America, 1820-2016,” Mr. Hofman and Patricio Valderrama estimated Latin America’s annual average compound real growth from 1820 to 2016 at 3.2 percent. Using that rate, the opportunity cost of Haiti’s payments to France increased to $115 billion, or about eight times Haiti’s 2020 GDP.
In January, we presented our findings to economists and financial historians at a workshop held at the Paris School of Economics. Some researchers who reviewed our work there suggested additional ways of modeling, nearly all of which showed bigger long-term losses for Haiti than our lower-bound estimate of $21 billion.In January, we presented our findings to economists and financial historians at a workshop held at the Paris School of Economics. Some researchers who reviewed our work there suggested additional ways of modeling, nearly all of which showed bigger long-term losses for Haiti than our lower-bound estimate of $21 billion.
An alternative method, suggested by Mr. Hautcoeur, an economist at the Paris School of Economics, would be to estimate an opportunity cost equivalent to the burden that the double debt represented when it was contracted in 1825. Using Mr. Henochsberg’s figures, we found that the double debt was 2.06 times the size of Haiti’s G.D.P. in 1825. If we apply this ratio to Haiti’s 2020 GDP, it would yield an opportunity cost of about $30 billion.An alternative method, suggested by Mr. Hautcoeur, an economist at the Paris School of Economics, would be to estimate an opportunity cost equivalent to the burden that the double debt represented when it was contracted in 1825. Using Mr. Henochsberg’s figures, we found that the double debt was 2.06 times the size of Haiti’s G.D.P. in 1825. If we apply this ratio to Haiti’s 2020 GDP, it would yield an opportunity cost of about $30 billion.
If, instead, we compare the double debt with France’s G.D.P. in 1825 (Maurice Lévy-Leboyer and François Bourguignon in “L’Économie Française au XIXe Siècle: Analyse Macro-Économique” estimated that French G.D.P. in the 1820s averaged 9.1 billion francs per year), we obtain a 1.23 percent ratio. If we apply this ratio to France’s 2020 G.D.P., it would yield an opportunity cost of $32 billion.If, instead, we compare the double debt with France’s G.D.P. in 1825 (Maurice Lévy-Leboyer and François Bourguignon in “L’Économie Française au XIXe Siècle: Analyse Macro-Économique” estimated that French G.D.P. in the 1820s averaged 9.1 billion francs per year), we obtain a 1.23 percent ratio. If we apply this ratio to France’s 2020 G.D.P., it would yield an opportunity cost of $32 billion.
Mr. Cogneau, another economist at the Paris School of Economics, suggested using the Solow Growth Model, which analyzes changes in the level of output in an economy as a result of several factors, such as the savings rate. One could consider the debt payments as lost savings for Haiti. The Solow model we constructed shows that, had these savings stayed in Haiti, they would have added $7 to $36 billion to the country’s economy over the past two centuries. However, because we do not have economic data for Haiti in the 19th century, this model relies on broad assumptions about the rate of capital depreciation, the savings rate, and the share of capital in output, which weakens the robustness of the results.Mr. Cogneau, another economist at the Paris School of Economics, suggested using the Solow Growth Model, which analyzes changes in the level of output in an economy as a result of several factors, such as the savings rate. One could consider the debt payments as lost savings for Haiti. The Solow model we constructed shows that, had these savings stayed in Haiti, they would have added $7 to $36 billion to the country’s economy over the past two centuries. However, because we do not have economic data for Haiti in the 19th century, this model relies on broad assumptions about the rate of capital depreciation, the savings rate, and the share of capital in output, which weakens the robustness of the results.
One of the economists, Mr. Lundahl, did not agree with any of our estimates. He said that Haiti was such a predatory state that most of the money it sent to France would have been squandered to such a degree that it would not have yielded any return.One of the economists, Mr. Lundahl, did not agree with any of our estimates. He said that Haiti was such a predatory state that most of the money it sent to France would have been squandered to such a degree that it would not have yielded any return.
Other economists, such as Mr. Bulmer-Thomas and Mr. Piketty, disagreed and suggested using a growth rate of about 2.6 percent, halfway between Haiti’s actual growth rate and Latin America’s growth rate. That would yield an opportunity cost of about $42 billion.Other economists, such as Mr. Bulmer-Thomas and Mr. Piketty, disagreed and suggested using a growth rate of about 2.6 percent, halfway between Haiti’s actual growth rate and Latin America’s growth rate. That would yield an opportunity cost of about $42 billion.
We’ve released our full data set of Haiti’s payments on GitHub, along with documentation for the data and the sources behind it.We’ve released our full data set of Haiti’s payments on GitHub, along with documentation for the data and the sources behind it.