Haitian Loan 1922

The Haitian loan of 1922 was the major occupation-era debt consolidation that shifted Haiti's external debt into the hands of American creditors and locked in long-term fiscal supervision. The loan sold Haitian government bonds on the American market, consolidated earlier debt burdens, and tied repayment to Haitian state revenues, yielding significant fees and advantages to National City Bank. Hans Schmidt emphasizes that while the loan simplified certain older debt arrangements it provided no clear developmental relief; more consequentially, it committed the United States to long-term supervision of Haitian finances in the name of protecting American bondholders, turning debt into a durable occupation mechanism that outlasted the marine presence.