THE FRENCH DEBT OF 1838.
The Haitian governments were extremely anxious to be recognized by France and the Europeans. But France would not recognize Haiti unless indemnities were paid for lands of former slave owners taken over after the revolution. Finally, in 1838 President Boyer of Haiti accepted a 150 million franc debt to pay this indemnity. This debt plagued the economy of Haiti for over 80 years and was not finally paid until 1922. In the meantime Haiti paid many times over 150 million francs in interest on this debt. It is difficult to measure the incredible harm which this did to the Haitian economy, but by the most conservative measures it was extremely significant.