Please answer the following in three to five sentences.
1. Economic Development- economic development is or can be described as the progress in the economy. Things that can improve the economy or development
2. What is a corporation? How is it an evolution in business models? A corporation is a evolution that most advanced, designed by the government to encentized the people to get a business by allowing the people to get unlimited everything all you lose is what you put in.
3. Monetary Policy- It controls the supply of money in the country and pays attention to the growth of the economy and its stability.
4. Describe the concept of “unbacked currency” Unbacked curreny means that the precious metal coin did not add up to the peso. The paper currency had to represent some sort of metal/ 5. What were papelitos de Lilis? Papelitos de Lilis is when he started printing his own type of money in the Dominican Republic that was unbacked paper. The result of him doing that he put the country in major dept.
6. The Dominican- American Convention and the issue of economic sovereignty- In 1907 America stared helping Dominican Republic out, they were not independent anymore. D.R started following the sdic since they were not stabled and owed plenty of money. The sdic had a ratio of 50:45:5 50% was house collected in the country, served by the bank of N.Y. 45% was to put in the Dominican Republic treasury. 5% was to pay the u.s government/administrative. Dominican Republic did not have no more freedom since U.S took over.
7. Law of Division of Communal- means that more then one family owned the land so they could not have sold the land because everyone had a share, no foreign country can buy or plant a factory or any type of business on that land. 8. The treated of Aranjuarez1777- It divides the island into to nation which was Saint Domain and Dominican republic. 9. The treaty of Basel- was a political economic lost by Spain, the Spaniards lost the island. They sign the island to the French. 10. The treaty of Ryswick- was signed in 1697 an agreement to trade also the colony taxed the good that were being traded. They started to see the rebirth of the island. Essay
As a financial consultant, discuss the managerial deficiencies of the leaders of Hispaniola, Santo Domingo and the Dominican Republic. Namely discuss strategies that failed by the Spaniards under colonial rule, issues under French occupation, as a Haitian territory and later under Dominican sovereignty. Some items to consider including as part of your essay:
The Economic Impact of the wars we discussed.
The impact of the Cuban Ten Year’s War
As a financial consultant I will discuss the managerial deficiencies of the leaders of Hispaniola, Santo domingo and Dominican republic. I will also discuss strategies that failed by the Spaniards under the colonial rule. Some of the issues under the French occupation, as Haitian territory and later under Dominican sovereignty. In 1942 this beautiful paradise named Hispaniola was discovered by Christopher Columbus which is now known as Haiti and Dominican republic. On this island lived nearly several millions tainos. When Christopher Columbus go to the island he had people with him which were the Spaniards. These Spaniards were very happy because it was a beautiful island that had many mountains, river valleys and room for a lot of farming. Since these tainos were so welcoming and peaceful, the Europeans saw this as an advantage to conquer them and the island. Later on all the tainos were demolished and tortured by the Spanish soldiers. By the middle of 17th century Tortuga island was located on the west of Cap Haitien. In this island there were many smugglers and run away slaves but lets not forget the pirates either. Tortuga Island was the head Quarter of the pirates. By 1603 the Spaniard had totally abandoned Hispaniola for almost about 60 years. In the 1600s the French had a strong economy in Hispaniola. In 1697 the French had complete possession called saint domain. Over the next century saint domain becomes one of the richest island in the world. Why it became rich was because of the sugar canes which were large plantations worked by hundreds of thousands African slaves that were
imported to the island. In saint domain they had many fights against the whites and the mullatos which caused a slave revolt to brake out in the French colony in1791which was eventually led by a French black man named Toussaint. He claimed the whole entire island was his. JJD known as Jean Jacques Dessaline was Toussaint successor. They tried to re establish orders and renewing the economy, which was basically devasted because many wars were going on in 1607, 1777,1795 and 1801. They had to start from scratch and build up the economy again which is called economic development. In 1801 this same year toussiant is imprisoned because he was enforcing the law without permission. The black army defeats the French and declare independence in 1804 establishing Haiti the western part of the island of hispanola. In 1805 the French is in total control of the eastern side of the island and trys to kill the whites and the French. They burn the top soil of the ground. Once again having to start over. In 1822 they feared that the French would establish slavery again in Santo Domingo like they would threaten. Haiti now has a president Jean- Pierre Boyer which he had sent an army to invade the easter part of hispanola. But Bayer once again abolished slavery and incorporated Santo Domingo Into the republic of Haiti. The next 22 years the whole island of hispanola is now unified under the Haitian control. Dominicans lost there political power and economic control. In 1844 Dominican Republic was adopted because of Juan Pablo Duarte. He attacked multiple times on the hatian army.
Dominican Republic was mostly run by caudillos which were strong military leaders. The next couple of years Dominican Republic had many outbrake civil war which caused political and economic instability. General Pedro Santana and General Buenaventura Baez were two different army leaders they fought against each other for political control to try and maintain some political instability. Dominicans will start to tax and borrow, the currency will now be pesos, backed up by precious metals. Then the peso starts to be unbacked because the metals are running out which means if the pesos are unbacked it results in inflation. Then soliders began to reject the pesos. In 1861 Santana decides to invite Spain to take over. While Santana is promising the north that he will pay them back and saying they will no longer be taking advantage anymore. As you can tell he never does what he
promises. So spain will pay all the debt of Dominican Republic. They stabilize the pesos in exchange Santana will no longer have power. They start to pick up the economy, the agreement starts which is called Restoration. Restoring the independence of Dominican Republic ( 1863-1865) . Haiti becomes allies with the Dominican Republic to help them out in the war. They defeat the French but stays with a huge debt and bill. In 1865 Brand new Dominican Republic in born again. In the war of restoration it brings out two powerful black leaders which were named Lilis and Luperon. In 1882 Lilis came into power, he was almost like a brutal dictator. Lilis made the island so poor that it was a economic disaster and put the island into major debt. He started printed out his own money which was unbacked and payed off the people and the countrys he owed which were called papelitos de lilis. He gets assassinated. After there is an American Annexation in D.R. The department of the states sends a senator to analyze the economic conditions to see if they will be a economic advantage. However the Dominicans don’t want to be a part of the U.S. so there is a plebiscite to see if they want to do this in 1869. They vote against Dominican Republic to become a slave state. Dominican Republic becomes independent again where two sections of the island were growing different things like sugar and tabacco. After the U.S. occupation of the Dominican Republic called the intervention lasted about 8 years. Where the Americans toke over control over D.R. They obligated to take orders from the U.S. Marines many improvements in D.R. like the economy and the educational system. The political violence was eliminated. Dominican Republic never developed a sugar industry this did not change (1869-1878) the ten year war in cuba. They were called the ingenios. In 1862 cuba slaves were uprising , a revolution was occurring. Dominicans offered the best land so that cuba could invest in their land. With the ingenious investing in D.R. D.R. was able to employ thousands and start producing /making sugar mills to set up investments that lead to the sugar boom.
As you can tell the island of Hispaniola had a hectic ride. From horrible leaders making the economy not stabled to people coming in and out taking their freedom and independence away. The island of Hispaniola was in and out of war gaining and losing their independence but at the end everything
worked out well even though they were in and out with the economy being unstable but they got the hang of it.