Citation
The (re) construction of narrative : decolonization and postbellum southern literature

Material Information

Title:
The (re) construction of narrative : decolonization and postbellum southern literature
Creator:
Russell, David W., 1965-
Publication Date:
Language:
English
Physical Description:
v, 295 leaves : ; 29 cm.

Subjects

Subjects / Keywords:
African Americans ( jstor )
Civil wars ( jstor )
Confederation ( jstor )
Gender roles ( jstor )
Landscapes ( jstor )
Men ( jstor )
Novels ( jstor )
War ( jstor )
White people ( jstor )
Women ( jstor )
Dissertations, Academic -- English -- UF ( lcsh )
English thesis, Ph. D ( lcsh )
Genre:
bibliography ( marcgt )
non-fiction ( marcgt )

Notes

Thesis:
Thesis (Ph. D.)--University of Florida, 1996.
Bibliography:
Includes bibliographical references (leaves 280-294).
General Note:
Typescript.
General Note:
Vita.
Statement of Responsibility:
by David W. Russell.

Record Information

Source Institution:
University of Florida
Holding Location:
University of Florida
Rights Management:
Copyright David W. Russell. Permission granted to the University of Florida to digitize, archive and distribute this item for non-profit research and educational purposes. Any reuse of this item in excess of fair use or other copyright exemptions requires permission of the copyright holder.
Resource Identifier:
026484680 ( ALEPH )
36703627 ( OCLC )

Downloads

This item has the following downloads:


Full Text











THE (RE)CONSTRUCTION OF NARRATIVE:
DECOLONIZATION AND POSTBELLUM SOUTHERN LITERATURE

















By
DAVID W. RUSSELL





















A DISSERTATION PRESENTED TO THE GRADUATE SCHOOL OF THE UNIVERSITY OF FLORIDA IN PARTIAL FULFILLMENT
OF THE REQUIREMENTS FOR THE DEGREE OF
DOCTOR OF PHILOSOPHY

UNIVERSITY OF FLORIDA

1996




THE (RE)CONSTRUCTION OF NARRATIVE:
DECOLONIZATION AND POSTBELLUM SOUTHERN LITERATURE
By
DAVID W. RUSSELL
A DISSERTATION PRESENTED TO THE GRADUATE SCHOOL
OF THE UNIVERSITY OF FLORIDA IN PARTIAL FULFILLMENT
OF THE REQUIREMENTS FOR THE DEGREE OF
DOCTOR OF PHILOSOPHY
UNIVERSITY OF FLORIDA
1996


This dissertation is dedicated to my mother, Janet Rae
Russell, a woman whose sacrifices made this work possible.
Her model of decency and integrity will stay with me always,
and anything good that X ever do or become will be due almost
completely to her.


ACKNOWLEDGEMENTS
So many people have contributed to this dissertation that
I feel frankly embarrassed in calling it my own. I owe a debt
of gratitude to all of the members of the dissertation reading
group I participated in, particularly Gary MacDonald and
Rhonda Morris. Their comments, discoveries, encouragements,
and subtle decencies propelled me at moments when I wallowed
in self-pity, secure in the knowledge that I would never
finish. Anne Goodwyn Jones, though not my director, provided
stability and comfort as well as acute observations, some just
in passing (as when I had the audacity to invade her lunch
with another graduate student), all of which gave me a sense
of the worth of my ideas and the confidence to pursue them.
Finally, I would not have a dissertation at all without the
tireless efforts of my director, David Leverenz. His
amazingly careful readings, occasional intellectual butt-
kickings, patience through my rantings, and compassion
throughout have made the next chapter in my life possible. He
has also offered me a model of integrity and dignity that I
can only long to emulate.


TABLE OF CONTENTS
page
ACKNOWLEDGMENTS iii
ABSTRACT V
CHAPTERS
INTRODUCTION 1
Notes 11
1 RHETORIC AND THE (DE)CONSTRUCTION OF NATION 14
Notes 54
2 PERFORMING CONFEDERATE NATIONALISM:
WHITE WOMEN'S REJECTION OF BODILY GOVERNMENT 59
Notes 106
3 RECONQUERING OLD TERRAIN: PATRIARCHAL
REPOSITIONING IN AUGUSTA JANE EVANS'S
ST. ELMO Ill
Notes 143
4 THE GEOGRAPHY OF SOUTHERN NATIONALISM . 151
Notes 189
5 "YOU CAN'T KILL ME BUT ONCE": THE
CHALLENGE OF AFRICAN-AMERICAN TEXTUALITY . 196
Notes 260
CONCLUSION 276
Notes 279
WORKS CITED 280
BIOGRAPHICAL SKETCH 295
iv


Abstract of Dissertation Presented to the Graduate School
of the University of Florida in Partial Fulfillment of the
Requirements for the Degree of Doctor of Philosophy
THE (RE)CONSTRUCTION OF NARRATIVE:
DECOLONIZATION AND POSTBELLUM SOUTHERN FICTION
By
David W. Russell
December 1996
Chairperson: David Leverenz
Major Department: English
This project focuses on Southern fiction produced in the
post-Civil War period. Despite the defeat of the Confederacy,
the idea of a Southern nation lingered in the minds of many
whites. White Southern novelists produced a series of works
which reflect a postcolonial commitment to nation-building;
that is, these writers sought to revitalize and redeploy the
organizing principles of the antebellum South. In Benedict
Anderson's phrase, these writers shared the idea of an
"imagined community": a Southern nation, predicated on a
continuity of thought and custom among the white people of the
region. Intervening in this re-creation of white hegemony was
the writing of African Americans. The desire for
"decolonization" is one of the prime forces energizing these
fictions. The drive to decolonize also initiated an argument
about just exactly what the South and being Southern meant.


INTRODUCTION
There are 250 or so countries (flags) in the world, but more
than 3,000 nations (peoples) who want their own countrythus
"small" wars.
Richard Reeves, "Where we've been in 20
years"
Gainesville Sun. January 3, 1996
"Tell mother I die for my country. I did what I thought was
best."
purportedly the last words of John Wilkes
Booth1
In a lecture at the Sorbonne in 1882, historian Ernest
Renan tried to answer a simply formulated yet complex
question"What is a nation?" Defying geographical
determinism, Renan asserted, "A nation is a spiritual
principle, the outcome of the profound complications of
history; it is a spiritual family not a group determined by
the shape of the earth" (18-9). Amplifying his discussion,
Renan explained that a nation needed two supporting premises
a belief in a common past and "the desire to live together":
A nation is therefore a large-scale solidarity,
constituted by the feeling of the sacrifices that one has
made in the past and of those that one is prepared to
make in the future. It presupposes a past; it is
summarized, however, in the present by a tangible fact,
namely, consent, the clearly expressed desire to continue
a common life. A nation's existence is, if you will
pardon the metaphor, a daily plebiscite, just as an
individual's existence is a perpetual affirmation of
life. (Renan 19)
For Renan, a nation was "a soul, a spiritual principle." In
1


2
detaching the definition of nation from geography, Renan
argued that a nation could exist even if it did not appear on
a map or possess a material presence in the landscape. As
long as citizens continued to "vote" for it, a nation could
live on in perpetuity.
Renan made his case two decades after the Confederate
States of America had been formed, and his definition of
nation has important implications for thinking about the post
war Confederacy. Historians and sociologists have long
understood the significance of Southern nationalism when
considering the persistent belief in the region's
distinctiveness. However, when they have analyzed postbellum
Southern fiction, literary critics have not been so scrupulous
in understanding the ideology of nationalism as well as the
way in which the Southern nation became a potent force even in
defeat.2 This study argues that postbellum fiction functioned
as both an effect of and an organizing principle for the
perpetuation of the idea of a Southern nation.
The fiction generated by white Southern writers in the
aftermath of the Civil War reinvigorated the Confederacy and
its organizing precepts. By emphasizing the imperial nature
(at least from their perspective) of Union invasion and
occupation, these writers were able to sell a perception of
the South and Southerners as abused and defamed but
nonetheless heroic. Calling upon a common racial heritage
with Northern whites, these writers subtly but effectively


3
interjected themselves into the debate over black civil
rights, a debate that culminated with the rejection of federal
protections for African Americans. Indeed, the fictions
produced by white Southern writers proved so effective that in
December 1888 novelist and civil rights advocate Albion W.
Tourgee pronounced American literature "not only Southern in
type, but distinctly Confederate in sympathy" (405), and
Thomas Dixon baldly offered a return to "white man's
government," along the lines of the old Confederacy, as the
appropriate model of 20th century American nationhood.
To be sure, the reconsolidation of white power did not go
unchallenged. Tourgee, with A Fool1s Errand (1879) and Bricks
without straw (1880), tried to undermine the revisionist
histories of Southern whites. A more powerful challenge, one
that I consider in Chapter 5, was offered by African-American
writers. Frances Harper's Iola Leroy (1892), Charles W.
Chesnutt's The Marrow of Tradition (1901), and Sutton E.
Griggs's various novels, notably his first, Imoerium in
Imperio (1899), provided counter-histories, giving voice to
the experiences of blacks in the postbellum South. In
challenging the attempt to create a hegemonic (and exclusively
white) historiography of the post-war South, these writers
also tried to map out their idea of 20th century Americaan
"imagined community" that would be integrated and respectful
of all voices in the narrative of nation. Ultimately,
however, these writers had their own literary voices drowned


4
out by the racist rhetoric, epitomized by Dixon's novels, that
came to dominate American culture in the latter part of the
19th century. Significantly, none of these writers published
significant fiction after 1908. Iola Leroy proved to be
Harper's only novel, Chesnutt went back into the stenography
business in Cleveland after the commercial failure of The
Marrow of Tradition and The Colonel's Dream (1905), and Griggs
abandoned writing after the publication of his fifth novel,
Unfettered (1908), to concentrate on his Baptist ministry.
The idea of a "post-war Confederacy" still might seem
oxymoronic, particularly given the fact that America has
remained united since the Civil War. As Renan pointed out,
however, and as Benedict Anderson has amplified, a nation is
not merely a geographical entity but rather "a spiritual
principle." As Anderson makes clear with his aforementioned
phrase "imagined community," a nation is by definition a
fictive construct, believed in because its purveyors cultivate
an ideology of commonality among its inhabitants. As Clifford
Geertz has argued, the job of ideology is to engender belief:
The function of ideology is to make an autonomous
politics possible by providing the authoritative concepts
that render it meaningful, the suasive images by means of
which it can be sensibly grasped. (Geertz 63)
Calling upon the work of Geertz, historian John McCardell
argues that Southern nationalism became a viable strategy for
retaining traditions and institutions (most notably slavery)
that seemed under assault from all other quarters of the
American union.3 The central premise of this study is that


5
the ideology of Southern nationalism became so deeply embedded
in those who governed, fought for, and suffered as a result of
the Confederacy that this idea became a basic component part
of Southern identity.4 When that nation was defeated in war,
the idea of it remained strong, providing an ideological
framework for a resuscitation of Southern political power and
the redeployment of antebellum gender and race relations.
Southern nationalism was created by and then sustained the
belief in Southern difference." The fiction authored by
whites in the postbellum period, rather than mourn the passing
of the Southern nation, fought to keep that "imagined
community" alive and vibrant and politically valid.
The focus of this study is primarily white men and women.
I focus on the ways in which these various white writers set
about the task of creating and sustaining an "imagined
community," a community built upon racist premises. Far from
justifying this racism, I try to understand it as a strategy
of decolonization. As Richard Gray has asserted, the
expansion of the literary canon requires that we now think of
Southern cultures, not a singular culture.5 This study
critiques the attempt on the part of the first generation of
postbellum Southern writers to reconstruct and assert the
exclusivity of a dominant, necessarily white Anglo-Saxon
culture.
Chapter 1 focuses on the ways in which secessionists
sought to link ideas of nation and masculinity to promote the


6
idea of a separate Southern nation and to insure its
viability. Looking at contemporary critical essays, poetry,
letters and diary entries, I contend that the Confederate
nation-builders posited the Southern nation as the phallus,
testing each Southerner's "manhood" by measuring their loyalty
to and willingness to fight for that nation. With this
rhetorical construct, the defeat of Southern troops at the
hands of the Yankees called into question the Confederacy's
efficacy. The ultimate defeat of the Confederacy had a
devastating impact on Southern manhood, requiring significant
efforts on the part of Southern women after the war to recoup
Southern men's self-image.
In Chapter 2, I examine the role white Southern women
were expected to play in the creation of the Confederacy.
Women occupied a seemingly paradoxical double spacethey had
to be weak in order to incline their men to fight, but at the
same time they had to be strong to maintain the homefront and
keep up a happy facade for the men in the field. This double
space was merely an extension of the equally paradoxical space
ascribed to Southern womanhood in generalat once the
repository of all that was good and moral and simultaneously
without a voice to advocate such values. Defeat created a
disjunction between rhetoric and reality for both Confederate
men and women. As they suffered increasing and unmitigated
deprivation on the homefront. Southern women rejected their
prescribed role as patient sufferers. They engaged in


7
protests (one of which was attended and disbanded by Jefferson
Davis) and advocated desertion to their men in the field. In
this way, Confederate women had a hand in the final defeat of
their nation, because they began not to identify with it.
Yet, in an ironic twist, these same women were made to believe
that their resubmission to patriarchal authority was crucial
to the reconstruction of Southern political power.
Chapter 3 is a consideration of the South's most
prominent antebellum female novelist, Augusta Jane Evans.
Understanding that Southern men needed to be uplifted after
the war, Evans wrote St. Elmo, a novel in which the main
female character, Edna Earl, devastates her body so badly that
she needs to be rescued by a strong manSt. Elmo Murray. St.
Elmo has assumed all of the qualities previously ascribed to
womenhe is religious, moral, and succoring. Considering St.
Elmo (which was Evans's most successful book) as a revision of
her antebellum novel, Beulah. in which Beulah Benton must
rescue her husband from moral nihilism, shows how drastically
Evans revises notions of female character and the female body
in order to reposition Southern men as strong, brave, and
virile. In this way, St. Elmo becomes Evans's attempt to
resuscitate the idea of the Southern nation, an idea that she
clung to passionately.
Whereas Evans reconfigures Southern manhood to
reinvigorate the imagined community of the Confederacy, three
prominent local color writers of a later generationKate


8
Chopin, Thomas Nelson Page, and George Washington Cable
create a revisionary geography to accommodate revisionary
histories. Chopin's At Fault creates a landscape in which
racial diversity gets replaced by a pervasive whiteness. Page
and Cable both produce "chronicles of Reconstruction," but
they also construct imaginative geographical settings that
both confirm the South's repossession of itself and reorganize
social relations, which had been turned upside down by the
war. The Supreme Court's rejection of civil rights
legislation for blacks as unconstitutional in 1883 re-placed
authority for such protections in the hands of local
authorities. This reemphasis on the power of the "local"
allowed local colorists like Chopin, Page, and Cable to create
a local scene that restores antebellum values and premises in
a postbellum world.
Chapter 5 looks at the burgeoning writing of African-
Americans as well as the response to it by Thomas Dixon, who
with The Leopard's Soots (1902) and The Clansman (1905) became
the most widely read author of his day. Dixon's virulent
racism tapped into a national anxiety about "others" at the
turn of the century. Writers like Frances Harper, Charles
Chesnutt, and particularly Sutton Griggs had begun to create
a response of sorts to the widespread notion of the
inferiority of African-Americans. Griggs and Dixon offer
competing versions of "nation" for America at the turn of the
20th century. In his first novel, Imperium in Imperio. Griggs


9
rejects the possibility of separate nations, one white and one
black, and instead offers a plea for integration. Dixon
tacitly offers two potential nationhoods for Americaone
prophesying anarchy because of Anglo-Saxon submission to
"dark" races, and the other the Confederate model, a nation
premised on white supremacy. Dixon's success presaged a
struggle for civil rights for African-Americans that would
last for over half a century.
Undoubtedly some might question the appropriateness of
considering white Southerners after the Civil War as
"colonized." After all, their nation stood for a far more
direct form of colonizationslavery. Interestingly, though,
signs of the Confederate nation have been appropriated as
modes of protest and resistance. For instance, in his survey
of the genre of Southern rock music, Paul Wells argues that
Southern musicians strive to create in their music "nostalgic
continuities," mythic connections between the Civil War South
and modern day which constantly invigorate the idea of
Southern distinctiveness. Discussing the way in which
Sherman's burning of Atlanta is a repeated trope in many
Southern rock songs, Wells shows how "the South" becomes a
metonym for resistance:
It is clear that whatever was achieved politically by
"the North" in winning the Civil War, little has changed
psychologically and emotionally in "the South." Southern
rock has thus taken on the mantle of resistance group,
still metaphorically fighting the war by refusing closure
and signifying an enduring alternative culture, perhaps
most significantly embodied in the figure of "the Rebel."
(Wells 118)


10
Oddly, as Wells suggests, Southern rock relied on its own
political incorrectness to attract fans and retain popularity.
Southern rock thus becomes one manifestation in popular
culture of the continued belief in Southern nationalism. As
Wells sums up, "Ironically, in southern rock culture, looking
back eguates with looking forward, and creating an identity
which resists the contradictions of contemporary life. This
construction is its own 'happy ending,' validating the notion
that, even if only at the level of consolidating a place in
popular culture, the South has risen again" (126).6 At least
in its popular manifestations, the Confederacy comes to
represent the very idea of resistance that postbellum white
Southern writers tried to deploy. Rightly or not, the idea
that the South was imposed upon by an imperial power after the
war has become popularly accepted.
Thus, I seek not to trivialize the struggles of people
emerging from colonization by misappropriating postcolonial
theory. Rather, by doing some "creative borrowing," as Edward
Said calls it, I wish to try and understand the reconstruction
of a "national" consciousness and culture at the same time
that the nation in question ceased to exist. Postbellum
Southern fiction is a key venue at which discourses on race,
gender, and class merge to produce a "national" narrative, a
narrative that could assert a coherent Southern identity to
countermand "imperial" discourse and aid in the process of
decolonization. In this way, I propose a new reading strategy


11
for Southern literature which recognizes the importance of
Southern nationalism and which, for good or ill, identifies
significant tropes of this literature, such as racism, a
resurgent patriarchy, and an emphasis on "local color," not as
regional idiosyncracies but as strategies of cultural self-
determination. Our country still struggles with lingering
vestiges of the Confederacy. Only by understanding these
vestiges as embedded cultural phenomena, phenomena dictated by
the imagined community of the Southern nation, can we ever
hope to combat them by offering an alternative model of
nationhood.
NOTES
1There is some debate as to just exactly what, if
anything, Booth actually said. In addition to his reported
message to his mother, Booth is said to have begged, "Kill me-
-kill me!" Booth actually wrote a letter explaining his
actions, writing over his signature, "A Confederate doing duty
upon his own responsibility." Ray Stannard Baker reported in
the May 1897 McClure's Magazine that as Booth rushed out of
the barn he was hold up in, he shouted, "One more stain on the
glorious old banner." Regardless of what Booth said, his
passion derived from his belief in the idea of a Southern
nation. See Albert Furtwangler, Assassin on Stage (Urbana:
University of Illinois Press, 1991), p. 112, and Baker, The
Capture. Death and Burial of J. Wilkes Booth (Chicago: The
Poor Richard Press, 1940).
2Discussing the "post-Rubin" generation of critics of
Southern literature in his introduction to Southern T.iterature
and Literary Theory, Jefferson Humphries concedes that the
Civil War does not play as central a role in modern-day
criticism as it did for the critics of Louis Rubin's
generation. Humphries argues that the Civil Rights movement
of the 1960's (which he sees as an offshoot of the war) more
directly informs the new generation's critical sensibilities.
Thus, Humphries disputes Lewis Simpson's claim that historians
and not literary critics will be more adept at identifying the
complexities of Southern identity:


12
The conflict between Old and New South, the sort of
tensions we lived through, and still feel, while
different from those occasioned by the economic and
material devastation of the Civil War and Reconstruction,
are too powerful to find expression in the quieter,
cooler mode of history alone. Only literature can
accommodate them. (Humphries xii)
Yet Humphries's decentering of the Civil War removes a key
component for understanding the evolution of Southern culture-
-Confederate nationalism. Tellingly, though many different
theoretical approaches get space in Southern Literature and
T.iterary Theory (and Humphries particularly champions
deconstruction), no critic discusses the implications of
Southern nationalism and/or the postcoloniality of the post-
Reconstruction South. Humphries is right to be wary of a
simple recurrence to what he calls an "organicist nationalism"
as an explanation of Southern distinctiveness, but his mere
passing glance at the significance of the Civil War for "post-
Rubin" critics denies the possibilities offered for Southern
cultural studies through post-colonial theory and conceptions
of nationalism(s). See Humphries, "Introduction: On the
Inevitability of Theory in Southern Literary Study," in
Southern Literature aild Literary Theory (Athens: The
University of Georgia Press, 1990), pp. viii-xviii.
3McCardell makes the following argument concerning the
situation of the South in the 1820's and 30's:
The South was becoming increasingly aware of its minority
status within the Union. Compounding the difficulties of
this position were the declining economic fortunes of the
seaboard states coupled with a growing concern over the
future of slavery. Each of these problemsbeginning
with the Missouri crisis of 1819-20, continuing with the
social and economic dislocation of the 1820's, and
intensifying with the launching of William Lloyd
Garrison's abolition newspaper The Liberator in 1831
converged and crystallized during the tariff imbroglio of
the early 1830's. The resulting strain aroused and
sharpened sectional awareness. Many Southerners were
finding, in Geertz's words, their social situation
incomprehensible. And, as a result, they turned to
Southern nationalism to render their situation
meaningful. (McCardell 4)
I want to extend McCardell's argument, suggesting that the
idea of the Southern nation helped defeated Southerners cope
with not only defeat but also the modern world, as exemplified
by the North, a world that had little use for Southern
traditions and economics. See McCardell, The Idea of a


13
Southern Nation (New York: W. W. Norton & Company, 1979) ,
particularly pp. 3-9.
4Historian David M. Potter notes the paradox of the
increase in Southern nationalistic feeling due to defeat in
war: "The Civil War did far more to produce a southern
nationalism which flourished in the cult of the Lost Cause
than southern nationalism did to produce the war" (469) As
Ernest Renan suggests, a nation requires an acknowledged and
embraceable common past. Ironically, defeat in war provided
Southerners with just such a past (manifesting itself most
clearly, as Potter points out, in the myths of the Lost
Cause). Thus, to talk of a "post-war Confederacy" is not so
illogical or historically inaccurate as it might initially
seem. See Potter, The Impending Crisis. 1848-1861 (New York:
Harper and Row, 1976). See also Carl N. Degler, Place Over
Time: The Continuity of Southern Distinctiveness (Baton Rouge:
Louisiana State University Press, 1977), pp. 99-132, and J. P.
Radford, "Identity and Tradition in the Post-Civil War South,"
Journal of Historical Geography 18 (1992): 91-103.
5See Richard Gray, "Afterword: Negotiating Differences:
Southern Culture(s) Now," in Dixie Debates: Perspective on
Southern Cultures, eds. Richard H. King and Helen Taylor (New
York: New York University Press, 1996), pp. 218-227.
6In fact, the idea of the Confederacy as resistance
extends beyond the geographical borders of the South. Wells
begins his consideration of Southern rock by describing a
scene in an auditorium in London in 1975 where a local band
was doing a cover of the Lynyrd Skynyrd song "Freebird":
Two young lads from the South (of England) One,
stetsoned and cowboy-booted, perched precariously on the
shoulders of the other, waving an outsized Confederate
flag. Three guitarists, hair tumbling wildly, united at
the front of the stage, each producing the satisfying
wail and screech of the extended solo at the end of
Lynyrd Skynyrd's rock anthem, "Freebird." Somehow, some
way, the music of the American South had come to mean so
much to an insecure English teenager hundreds of miles
away. (115)
Closer to home, the Montana "Freemen," a group that did not
recognize U. S. sovereignty and proclaimed that they had
seceded from the union, reportedly used the Confederate Stars
and Bars as one of its symbols of defiance. Ironically, all
of the emphasis on "free" locates itself in the symbolism of
a nation which itself was predicated, at least in part, on a
population of unfree.


CHAPTER 1
THE MAKING OF THE CONFEDERACY:
THE FICTIVE BORDERS OF SOUTHERN MASCULINITY AND NATION
At least on the Southern side, the Civil War was about
liberation, fought against what advocates of secession
perceived to be a tyrannical, colonizing Northern government.
"The Constitution, either openly violated or emasculated of
its true meaning and spirit by the subtleties of New England
logic, is powerless for protection," wrote William H. Holcombe
in the February 1861 Southern Literary Messenger. The
election of Lincoln provided merely the final pretext for a
break between the two sections. But Holcombe's own shifting
gender distinctions concerning the Constitution highlight his
chief dissatisfaction with union. The Constitution was
androgynoussusceptible to "violation" (feminine) or
"emasculation" by "the subtleties of New England logic."
Later in his essay advocating "a separate nationality,"
Holcombe describes Northern abolitionists as "that motley crew
of men who should be women and women who should be men" (87) .
What Holcombe and other advocates of secession craved was a
national space that was based on and posited as normative a
bold heterosexual masculinity, a national premise that could
resist violation and emasculation.
14


15
In Nationalism and Sexuality. George L. Mosse traces the
rise of German nationalism that eventually led to the Nazi
state. He notes that heterosexual masculinity became an
important tool in the creation of nation: "Manliness was
invoked to safeguard the existing order against the perils of
modernity, which threatened the clear distinction between what
was considered normal and abnormality. Moreover, manliness
symbolized the nation's spiritual and material vitality" (23).
Strong, heterosexual men exemplified a strong, healthy nation.
Deviances could not be tolerated, and those "perils of
modernity," that is, ideas and behaviors that challenged the
bourgeois status quo, constituted such deviances. Mosse notes
how such deviant characters were portrayed in nationalist
propaganda:
The ugly counter-image of the nervous, unstable
homosexual and masturbator, whose physiognomy was ever
more sharply delineated thanks to medical science's
attribution of moral and aesthetic values, became an
important symbol of the threat to nationalism and
respectability posed by the rapid changes of the modern
age. (31)
Such "counter-images" reflected the supposed results of a lack
of moral control. People who gave in to their lusts sapped
their strength and thus became unproductive; people who
invested themselves in the state channeled their energies
(including their "harmful" desires) into socially positive
acts of nationalism.
Though Mosse was writing about turn-of-the-century
Germany, his ideas can be applied to the Southern United


16
States of the mid-19th century. Just such a normative
heterosexual principle was articulated and deployed in the
rhetoric of secession. In fact, the rhetoric of the "Southern
man" and the rhetoric of Confederate nationalism became
inextricably linked, reinforcing and depending upon one
another. Supporters of secession, calling upon the cavalier
myth of Southern manhood, argued that a Southern nation was
viable because of the superiority of Southern men.
Conversely, the idea of a Southern nation helped organize
gender relations by associating "apporpriate" masculinity with
the willingness to fight for the Confederacy. The rhetoric of
secession thus created two interdependent discoursesone of
"proper" masculinity and one of "proper" nationthat had to
cite one another to verify their respective premises.
The cavalier myth, which purported to explain Southern
"difference" and the superiority of Southern men, existed long
before secession.1 Secession advocates merely exploited the
belief in that superiority to make their case for "a separate
nationality." "We are the land of rulers; fanaticism has no
home here," wrote Georgia planter Charles C. Jones, Jr., to
his father on January 28, 1861. "The sooner we separate the
better" (Myers 43). William Holcombe concurred with such an
opinion:
The word submission, in the sense of political
degradation, does not exist in the Southern vocabulary.
There is no man in the South so stupid, so cowardly, so
base as to be willing to live in the Union as it is.
(Holcombe 86)


17
For Jones and Holcombe and other proponents of the sectional
split, the Southern man's capacity to rule was indisputable.
As one Southern editorialist noted in an essay distinguishing
between Northern and Southern men, lording over an entire race
demonstrated "their particular capacity for executive control"
("The Difference . ," 403). A separate nation would
provide the venue that would both protect Southern
institutions and traditions and confirm for the world the
honor of Southern men.
The concept of "honor" organized white Southern society
and self-perception. As Bertram Wyatt-Brown has argued, the
failure of Northerners to recognize the importance of honor in
the make-up of Southern life only exacerbated the sectional
strife. He divides the concept of honor into three
distinctive ideas: "the inner conviction of self-worth," "the
claim of . self-assessment before the public," and "the
assessment of the claim by the public, a judgment based upon
the behavior of the claimant" (14). Honor required a public
consensus; it was an ideology which interpellated subjects,
making those subjects understand behavior acceptable to the
state as well as the unacceptability of challenges to that
ideology.2 The North and its attitudes, along with the
possibility of the election of Abraham Lincoln in 1860, posed
the most serious challenge to Southern society and the
institutions it cherished. As Wyatt-Brown puts it, "pre-Civil
War Southerners had to calculate the value of union when their


18
claims to respect were met in the North with skepticism,
condescension, and finally, contempt" (20-21).
Thus, the Southern nation could be proposed as a viable
idea because of the deeply held belief in the superiority of
Southern men. Once secession gained support, the Southern
nation began to dictate the grounds of "appropriate" Southern
masculinity. Some pro-South advocates tried to connect the
future of the new nation to the storied past of the region.
For example, Joseph Addison Turner, a Georgia planter and
writer, argued in the July 1860 DeBow's Review that
Southerners should boycott Northern-produced goods as a sign
of regional solidarity. Conceding that some economic hardship
might result, Turner used the prominent families of the South
as a model of how his generation's men should comport
themselves:
Are the sons of our fathers so degenerate that they can
sacrifice nothing to the cause of independence? Ar they
willing, for the sake of present ease and luxury, to
remain in a state of virtual vassalage? Is the spirit of
the Habershams, the Mclntoshes, the Tatnalls, the Troups,
and all that gallant host, whose name is legion, extinct?
(Turner 222)
Turner's diction recurs to the cavalier mythchallenging
Southern men not to accept "vassalage," referring to the great
Southern families as "gallant." In this way, Turner both
accepts the mythos of the superior Southern man and sets the
standard for his generation's men. Only by committing
themselves to "the cause of independence" could Southern men
show that they were not "degenerate." Turner's rhetoric thus


19
taps into what Mosse notes as the need of the nation to
present "manliness" as a measure of "the nation's spiritual
and material vitality."
Even more direct challenges to Southern manhood were made
in various public organs. For example, in a propaganda
pamphlet circulated throughout the South in 1860, a
secessionist using the penname Troup challenged Southern men
to join in the building of a Southern nation in order to
refute aspersions cast against the South by the New York
Tribune. The alternative, Troup suggested, was submission:
But if, indeed, we are as impotent as the Tribune
represents us, in the name of all that is decent, I
implore you, my countrymen, to submit quietly. If you
are incapable of a manly resistance, exhibit the next
best proof of manhood, silent endurance. (Troup 6)
"Manly resistance" would refute Northern claims of Southern
male impotence; submission would only confirm such ridicule.
As Troup later claims, "Any thing is better than, without one
manly effort, to take the fate of prostrate Ireland" (7) .
Troup's rhetoric cordons off a very specific space of "true"
masculinity. Only by joining the cause of the Southern nation
could Southern men show their worth and efficacy. This
rhetorical inscription "persuaded" those reluctant to commit
to secession. It also delegitimized protests against
disunion. Objections could be coded as unmanly, objectors as
"impotent."
To this end, women were enlisted as coercive agents for
the state. They literally came to embody the nation; that is,


20
in order to ensure service to the Confederacy, women offered
themselves as prizes for victory. For example, around the
same time that Thornwell was writing his essay, Carrie Bell
Sinclair wrote a song called "The Homespun Dress" which
detailed not only women's sacrifices for the war effort but
also expectations of the men they were sacrificing for:
And now, young man, a word to you;
If you would win the fair,
Go to the field where honor calls,
And win your lady there.
Remember that our brightest smiles
Are for the true and brave,
And that our tears are all for those
Who fill a soldier's grave. (I. Silber 68)
Once again calling on men's honor, Sinclair argues that the
war served a double purposeto win political sovereignty and
to win women. Even death would be rewarded by women's love,
as long as it was connected to service to the state. But
Sinclair makes quite clear what living, victorious soldiers
could expect:
The soldier is the lad for me
A brave heart I adore;
And when the sunny South is free,
And fighting is no more,
I11 choose me then a lover brave
From out the gallant band,
The soldier lad I love the best
Shall have my heart and hand.
What Sinclair suggests reinforced the rhetoric of the superior
Southern man. Only men who had served the state could be
imbued with true manhood, and Sinclair affirms that only these
men were worthy of Southern women. But Sinclair's song also
points to the ultimate marker of Southern manhoodvictory.


21
Women will choose soldiers as lovers "when the sunny South is
free." To prove themselves true men, soldiers had to make the
uniform and the nation mean something, and that meaning could
only be achieved through political independence.
The Southern nation gets installed as "the law,"
regulating both the history of the South by playing up the
cavalier myth and the categories of gender. The nation
becomes the iterative mechanism of the "law" of Southern
masculinity. Judith Butler hypothesizes in Bodies That Matter
that "sex" is a product of discourse, a discourse that gains
status as normative and "the law" because of its reiteration
as law:
The force and necessity of these norms ("sex" as a
symbolic function is to be understood as a kind of
commandment or injunction) is thus functionally dependent
on the approximations and citation of the law; the law
without its approximation is no law or, rather, it
remains a governing law only for those who would affirm
it on the basis of religious faith. If "sex" is assumed
in the same way that a law is cited . then "the law
of sex" is repeatedly fortified and idealized as the law
only to the extent that it is reiterated as the law,
produced as the law, the anterior and inapproximable
ideal, by the very citations it is said to command.
(Butler 14)
In terms of "the Southern man" as a norm, the Southern nation
dictates "the law" that verifies the norm. In other words,
the rhetoric of secession so closely intertwines the discourse
of masculinity with the discourse of nation that a subject
cannot make reference to the norm without first citing the
nation. In this way, the Southern nation gains status and
viability through its implication in the law of normative


22
Southern masculinity. As that law is "cited" (and, in the
process of citation, in Butler's formulation, "fortified and
idealized as the law"), the Southern nation is cited,
fortified, idealized, and "produced as the law" as well. The
performativity of "proper" masculinity becomes implicated in
the performativity of "proper" citizenship in the Southern
nation.
The Un-Yankee
Much of the basis for the claims of the secessionists
about Southern men rested on comparisons to Northern men.
Such comparisons underscored Northern deficiencies so as to
make the case for separation of South from North more
compelling. Southern men, for example, were depicted as
brave, trustworthy, and honorable; Northern men possessed none
of these qualities. In his letter of January 28, 1861,
Charles C. Jones, Jr. offered his own assessment as to why the
men of the two regions had grown apart:
I have long since believed that in this country have
arisen two races which, although claiming a common
parentage, have been so entirely separated by climate, by
morals, by religion, and by estimates so totally opposite
of all that constitutes honor, truth, and manliness, that
they cannot longer coexist under the same government.
(Myers 43)
For Jones, as for all disunionists, a separate Southern nation
was the only antidote to the Northern contagion of dissipated
morals. Jones conflates "manliness" with the capacity to
rule. In ascribing to Southern men the "true" qualities of


23
"honor, truth, and manliness," Jones described the basis upon
which the Confederacy would be grounded.
Positing Northern men as the "enemy" not only provided a
flashpoint for the creation of nationalism but also helped
divert attention from some potentially fractious issues
confronting the new nation. For example, slavery as a
rationale for disunion might have tended to underscore
regional and class differences. The border states of the
Confederacy relied far less on slavery for agricultural
production than did their deep South neighbors. Thus,
protecting the peculiar institution did not seem as urgent a
necessity in states like Kentucky, Tennessee, and Virginia.
Further, even by Southern counts, only one in three landowners
possessed slaves, and half of those owned five slaves or fewer
(DeBow 68).
Pro-secessionists tried to harmonize such differences by
recurring to the trope of superior Southern manhood. If, as
they believed, this superiority was "racial" and inherent in
all Southern men, it transcended class boundaries and made all
brethren of a sort. Slavery served only to emphasize the
superiority of Southern men because it elevated all above
menial labor. "The poor white laborer at the North is at the
bottom of the social ladder," wrote J. D. B. DeBow in January
1861, "while his brother here has ascended several steps, and
can look down upon those who are beneath him at an infinite
remove!" (DeBow 74). Though laborers in the North and South


24
might be "brothers," DeBow asserts that the conditions and
institutions of the South served to heighten white Southern
men's advancement. Slavery was coded not as a marker of
economic and class difference but as the sign of collective
white Southern male strength.3
Some secessionists predicted that the class distinctions
between Northern and Southern men would be most in evidence
during battle. In an open letter to the North appearing in
the October 1861 Southern Literary Messenger, one pro-South
advocate suggested that the quality of the men fighting on the
Southern side would prove the decisive factor against Northern
paid "mercenaries":
It is claiming little credit to assume that our
gentlemen and farmers will prove an over-match for your
blackguards; for the total destruction of troops, such as
yours, would be gain to the North; while almost every
death in our ranks will be a real misfortune. ("Boston
Notions," 294)
These Southern "gentlemen" would be fighting for a causethe
protection of their property and institutions. Northern
troops would be fighting for the right to pillage. For this
writer, the elevation of Southern men and their moral sense of
purpose provided a counter to the North's technological and
numerical superiority.
The protection of tradition became yet another way that
secessionists distinguished Southern men from Northern.
Northern men represented a wrong-headed modernity that, if
allowed to run its course, would have catastrophic
consequences. Joseph Brenan's poem "A Ballad for the Young


25
South," published in February 1861, makes such a point with
the fictional speech by a Northern senator:
"Down with the laws our fathers made!
They bind our hearts no more;
Down with the stately edifice
Cemented by their gore!
Forget the legends of our race
Efface each wise decree
Americans must kneel as slaves,
'Till Africans are free!
Out on the mere Caucasian blood
Of Teuton, Celt or Gaul
The stream which springs from Niger's source
Must triumph over all!"
So speaks a solemn Senator
Within those halls to-day,
Which echoed erst the thunderburst
Of Webster and of Clay! (Brenan 101)
Abolitionists represented a direct threat not merely to
slavery but to the traditions of democratic government"the
laws our fathers made," "the stately edifice," "the legends of
our race." Brenan's poem lays out the challenge faced by
Southern men, but it also positions those men as "divine"
defenders: "To the Saints of Heaven was Empire given, / And we
alone are Saints!" (100).
William Holcombe sees not just the North but the whole
world in conspiracy against the South. Like Brenan, Holcombe
sees Southern men as divinely chosen interceders: "Let us be
faithful to our sublime trust, and future ages will appreciate
the grandeur and glory of our mission" ("The Alternative,"
82) For both Holcombe and Brenan, the "mission" of the
Southern nation was to provide an alternative staging area for
tradition. With its industrialization and abolitionist


26
sympathies,, the North became a convenient symbol of the
decadence sure to emerge from modernization.
Northern men were thus a product of a perverted
environment, and as such, they could not hope to compete on
the battlefield with their Southern counterparts. For one
editorialist, writing in November 1860, Northerners were "a
people who display such vicious, unmanly and undignified
qualities in every department of life, public, private, and
religious." They were "mean hermaphrodite creatures, in the
garb of men, participating in the digusting saturnalia"
("Northern Mind and Character," 349). This "unmanliness"
manifested itself most particularly in Northern men's
unwillingness to fight. They might denounce the South and its
institutions, but when challenged by Southern men, they "most
cowardly [claimed] protection of the law, or [fell] back upon
the fact of being non combatants" (349, author's emphasis).
Southern willingness to engage in physical "debate" had
a vivid historical antecedent. In May 1856, South Carolina
Representative Preston Brooks beat Massachusetts Senator
Charles Su mer into unconsciousness after Sumner refused an
invitation to duel. Sumner had made fun of the Southern
commitment to slavery as a question Butler, Brooks's cousin:
The senator from South Carolina has read many books on
chivalry, and believes himself a chivalrous knight, with
sentiments of honor and courage. Of course, he has
chosen a mistress, to whom he has made his vows, and,
who, though ugly to others, is always lovely to him;
though polluted in the sight of the world, is chaste in


27
his sight. I mean the harlot, slavery. (quoted in
Osterweis, 1224-5)
Brooks's impetuousness actually earned the praise of his
fellow Southerners. Looking back on the event in June 1861,
L. Q. C. Lamar told Mary Chesnut that if Sumner "had stood on
his manhood . [the] blow need not have been the opening
skirmish of the war" (quoted in Wyatt-Brown, 35). Sumner's
presumed cowardice encouraged secessionists like Lamar to
trust implicitly in the superiority of Southern men.
In a burst of exuberance, Southern writers published
rousing accounts of the exploits and capacities of their
region's men. Typical of such fare was W. H. Holcombe's poem
"The Southern Man," published in the July 1860 issue of the
Southern Literary Messenger. Holcombe extols what he sees as
the chief virtues of Southern men: generosity, integrity,
faithfulness. Holcombe describes the southern man as ready
and capable of fighting and triumphing for any cause:
Is it a fight on hand?
For sacred cause or none
For a silly word or Fatherland?
With a dozen faces or one?
Clear the ring, my boys!
Battle it while you can;
But for gallant bearing and reckless daring
There's none like the Southern man!
Holcombe's language again taps into the cavalier myththe
Southern men is "gallant," but he is also "reckless." In
fact, the Southern man is also a "boy," and he fights for
"sacred cause" or "a silly word." The boyish nature, as
exemplified by Brooks's attack on Sumner, prevented the


28
Southern man from falling victim to "New England logic." The
willingness to fight, regardless of the odds ("With a dozen
faces or one?") fulfilled the requirements of honor, but it
also demonstrated why the Southern nation could survive and
flourish. The "manliness" of Southern men would work in the
same way that Mosse identifies manliness working in Nazi
propaganda--"to safeguard the existing order against the
perils of modernity." Only for Holcombe, modernity assumed
the guise of the Yankee.
All of the propaganda about the superior Southern man and
his effeminate Northern counterpart worked to create a sense
of inevitable (and quick) Confederate victory. The editors of
DeBow's Review argued in the July 1861 issue that the
leadership of the "reckless" Confederates was precisely the
quality lacking in the Northern army:
The Yankees have little self-reliance or personal
courage, are submissive and easily drilled, and may make
better common regular soldiers; but they have few men
qualified to make officers. Benedict Arnold was the best
officer the North has produced. ("The Times and the
War," 4)
Such confidence in Southern superiority was echoed by
many of the Confederate soldiers as they went into battle.
For example, 23-year old Robert Moore, a private in the 17th
Mississippi Regiment, was not deterred from duty even after
the death of his cousin. After his aunt remarked that she was
glad that her son had died in service to his country, Moore
observed in a journal entry dated June 2, 1861, "When such
sentiments are felt & expressed by the matrons and men of our


29
country, I should like to know how the Abolitionists of the
North ever expect to conquer the South" (Moore 24).
But there were doubts, too. Some Confederates feared
that the rhetoric of superior Southern manhood may have
succeeded too well. They worried that many people would
underestimate the battle before them. Captain William Dorsey
Pender voiced such concerns in a letter to his wife dated May
18, 1861:
It is hard to say which would be better for us, delay or
immediate action, for there is no doubt that they [the
Union troops] are making tremendous efforts and are
organizing much more rapidly than we. They imagine we
are much better prepared than we are. The fact is, our
people imagine the only thing to do to whip the Yankees
is to form a few volunteer companies and go to Richmond
and the thing is done. (Hassler 23)
Pender did not doubt that the Confederate cause would win out,
but he did fear that people's expectation level was far too
unrealistic. "I have thought for some time," he concluded,
"that a little whipping would be of immense benefit to us, not
that I wish anything of the sort" (24).
Pender's concerns were echoed by his commanding officer,
Robert E. Lee. Lee bemoaned the lack of discipline shown by
the Confederate enlisted men: "Our people are so little liable
to control that it is difficult to get them to follow any
course not in accordance with their inclination" (quoted in
Linderman, 39) The very quality so applauded by those
constructing the idea of the "Southern man," his impulsiveness
in defense of his principles, proved hard to manage in a
fighting force. The Yankees, whom Pender admitted were far


30
better organized, seemed to be calling into question one of
the basic tenets of Southern masculinity.
The rhetoric of superior Southern manhood, with its
concomitant guarantee of a viable Southern nation, helped
create the conditions necessary for secession. Such rhetoric
had clarified the Southern political situation or, in the
formulation of Clifford Geertz, had made the possibility of an
independent Southern nation "comprehensible." "Whatever else
ideologies may beprojections of unacknowledged fears,
disguises for ulterior motives, phatic expressions of group
solidaritythey are, most distinctively, maps of problematic
social reality and matrices for the creation of collective
conscience," Geertz asserts (64). By installing "the Southern
man" as the distinct expression of the Southern nation,
secessionists tapped into a rich history of myth that they
believed would produce "group solidarity." The war and its
results fractured the ideological wholeness of the "the
Southern man" while, ironically enough, at the same time it
verified the dichotomies that undergirded the Southern nation.
Thus, while Southern men did not live up to the rhetorical
standard set for them, the idea of the Southern nation
ingrained itself in its defeated citizens.
The Coercion of Nation
Mississippian Robert Moore's decision whether or not to
fight for the Confederacy had more or less been predetermined.


31
His last trip home before shipping out to the warfront made
him understand what responsibility was his:
. . It did seem hard that we should part, but our
country calls & he that would not respond deserves not
the name of man & though we fall, battling for our rights
& are determined to have them or die in the attempt.
(26)
Moore saw his primary duty as being to the Confederacy, which
set the boundaries determining "the name of man." Because
secessionists had convinced many men that their masculinity
was riding on the success of the Southern nation, they were
able to generate initial enthusiasm such as Moore displayed.
The more fully men threw themselves into the effort to create
the Confederacy, the more fully defined as men they could be.
The interlinking discourses of masculinity and nation
thus had a coercive effect on Southern men. Whereas initially
the presumed superiority of the Southern man acted as an
assurance of the viability of the Southern nation, secession
turned the tables, positing the Southern nation and its
success as the true measure of Southern masculinity. In an
essay entitled "Our Danger and Our Duty," appearing in the
May/August 1862 issue of DeBow's Review, Presbyterian minister
James H. Thornwell spelled out the level of obedience
Confederate leaders needed if the nation were to succeed: "It
is implied in the spirit which the times demand, that all
private interests are sacrificed to the public good. The
State becomes everything, and the individual nothing"
(Thornwell 272-3). Thornwell sought to reestablish the nation


32
as the pre-eminent authority in Southern life. The state was
supreme; the legitimacy of the individual, particularly of his
manhood, still flowed from the dictates of the nation.
The military setbacks suffered by the Confederacy in
early 1862 (notably the fall of New Orleans in April) had
sparked some questioning of the rhetoric of superior Southern
manhood. Thornwell used a plethora of phallic signifiers to
reconnect virile manhood and the state:
Do we feel the moral power courage, of resolution, of
heroic will, rising and swelling within us, until it
towers above all the smoke and dust of the invasion?
Then we are in a condition to do great deeds. (278)
In using the collective "we," Thornwell indicates that
individual phallic power has no place in the national life of
the Confederacy. Only collectively, for the state, could such
power make meaningspecifically it could make a nation. He
brings together all of the traits of the "true" Southern man
"moral power and courage," "resolution," and "heroic will"
and implies that these should spur on individual acts of
manhood in the service of the state. "Rising and swelling,"
superior Southern manhood eventually "towers" over the
invaders. Defeat had lessened the nation's capacity to make
men; Thornwell sought to reactivate the Confederacy's
tumescent ability.
Other Confederate propaganda acknowledged military loss
but sought to mitigate its impact by reiterating Southern male
superiority and breeding. For example, a Miss I. D. M. of
Columbia, South Carolina, after touring several army hospitals


33
in 1863, made the following observations about the men she
came in contact with:
I never heard one oath or one coarse expression. X never
heard a sentiment of disloyalty or dissatisfaction. I
never heard a doubt thrown upon the right of our cause or
a regret that the war had been begun. I never saw one
man, however wasted by disease or disabled by wounds,
whose chief desire did not seem to be to recover as
speedily as possible so that he might be back at his
place in the field again: and while I encountered many
illiterate, rough, and uncouth men I never met one who
failed in that courtesy which every Southern man, however
humble his station, instinctively accords to womanhood.
("Our Women in the War," no. 1, my emphasis)
Miss I. D. M. served a very specific function for the state.
The wounded she visited, men whose conception of their own
masculinity was intimately tied to their service to the state,
could behave in no other way and hope to retain their manhood.
Thus, when Miss I. D. M. speaks about the "chief desire" of
the wounded, she speaks the desire that the state demands
these men have. When she speaks of the "courtesy" accorded
her, she speaks the ideology of Southern manhood upon which
the Confederacy had been founded and hoped to survive.
Miss I. D. M. very well may have been a fictional
creation, but the fact that the observer of the wounded was
coded as feminine is significant. In Male Subjectivity at the
Margins. Kaja Silverman discusses how post-World War II
American movies tried to reestablish a coherent, dominant,
pre-war male subjectivity. Discussing the 1947 film The Guilt
of Janet Ames. Silverman asserts that women become the agents
of the recuperation of that male subjectivity by denying male
"lack": "[The main male characters] are ultimately shown to be


34
entirely an effect of the way in which they are viewed by the
women around them. Their girlfriends, wives, and daughters
confer the phallus upon them by 'refusing' to see their
inadequacy" (114). Miss I. D. M. would seem to serve the same
function. She does not "see" any male lack; for instance, she
never discusses any of the soldiers' injuries in any detail.
In articulating the soldiers' "chief desire," she creates
these menthey become "an effect of the way in which they are
viewed by the women around them."
Given the fact that the rhetoric of the superior Southern
man was predicated on visible acts that would confirm his
honor, Miss I. D. M.'s "blindness" reinvigorates that rhetoric
by censoring images associated with the setbacks of the war.
In acting as an agent of the state, Miss I. D. M. can confer
the phallus upon the soldiers because, in Lacanian terms, the
Confederate nation was posited as the phallus by its leaders,
the ultimate repository of the Father(land), power, manhood,
the "law," etc.4 Thus, what Thornwell depicted as "rising and
swelling" within men owed its existence to the existence of
the nation. The failure of the nation meant the failure of
their manhood.
Many in the Confederate ranks like Robert Moore
internalized the conflation of manhood and nation and acted
accordingly. Even as the conditions of their loved ones grew
worse, Confederate soldiers continued to place the defense of
their nation above all other matters. For example, Colonel


35
William L. Nugent, upon hearing of the illness of his wife,
wrote her in a letter dated August 8, 1864, that he had to
abide by his sworn duty:
I am too far off and too strongly bound by regulations to
fly to your relief and minister to your comfort; and it
is this thought which adds to the poignancy of feeling.
I sometimes am inclined to kick at the laws which effect
a compulsory separation between man and wife and to
esteem it all wrong. Still, my own precious Nellie, what
can I do? A cruel, relentless war is waged for our
annihilation, and unless we present a bold front to the
enemy, contesting every inch of ground, we may expect
nothing but vassalage and slavery all our lives. Our
rights and privileges will be totally destroyed and
military governors and Yankee judges will govern us,
while our lands will be parcelled out among a horde of
foreign adventurers and mercenary soldiers. (Cash and
Howorth 196)
Nugent's own rhetoric shows the influence of the rhetoric of
his nation. Despite his wife's poor health, he must remain at
the front, defending against the "horde of foreign adventurers
and mercenary soldiers." His characterization of the Union
troops closely resembles the Confederate propaganda that
depicted them as paid mercenaries and "blackguards." Were
Nugent to desert his post, the result might be a Union victory
and "nothing but vassalage and slavery." Nugent positions
himself in the role of traditional cavalier, fending off
attacks by the sullied mob that would lead to the degradation
of Southern culture and traditions. His desire to sustain and
defend the state takes precedence over any emotional or sexual
desire for his wife.
Like Nugent, William Dorsey Pender struggled with the
conflict between his relationship to the state and his


36
relationship to his wife Fanny. Having been promoted to
colonel, Pender felt tremendous responsibility to the
Confederacy. Further, that promotion had instilled in him a
greater sense of his own manhood. To do dishonor to the
nation would taint his own masculinity. Thus, when Pender got
word of Fanny's ill health, he, like Nugent, questioned the
strictures imposed on him by his relationship to the nation,
but he quickly came to his ideological senses:
I sometimes feel that if it were manly and honorable I
would be willing to give up all hopes of distinction and
military ambition, to live quietly with my wife and
children. But anyone with a military education is in
honor bound to come forth these times and defend his
country against the countless thousands of the
unprincipled villains. (Hassler 38)
Again, "honor" plays a key role in Pender's thinking. Like
Nugent, Pender employs the image of the "horde" sweeping over
the Southern landscape"the countless thousands of the
unprincipled villains." Pender recognizes that the victory of
these "villains" would remove his newly gained position, which
would not be "manly and honorable." In short, Pender
recognized that only in defending his nation could he defend
against encroachments on his manhood.
On the field of battle itself, Confederate officers had
to carry themselves so that their men saw an embodiment of
proper Confederate masculinity. In his study of the combat
experiences of both Union and Confederate troops, Gerald F.
Linderman notes that enlisted men frequently had to be
convinced of their commanding officers' worth through acts of


37
bravery. Linderman cites Stonewall Jackson as the primary
example of an officer who, through his own actions, convinced
his men to follow orders directly:
A Confederate officer spoke of his own "desire to emulate
the action of the best men on the field"; by his
fearlessness, Jackson persuaded more of his soldiers than
did any other in direct command of field forces that he
was the best man on the field. (Linderman 44)
As Linderman points out, rank-and-file soldiers rarely equated
rank to honor or "manliness." "It was as if officers were
required to bank courage, with their deposits compelling equal
contributions by the men and the joint balances then becoming
available to officers to draw down when they thought them
required," Linderman asserts (45). Whereas Miss I. D. M.
refused to "see" the wounds of the soldiers in order to
sustain their manhood, enlisted men at the front needed to see
the manhood of their commanding officers. Honor required a
public performance; so, too, did the manhood of those men who
represented most directly the Confederate nation.
The deaths of prominent Confederate leaders not only
snuffed out models of "appropriate" manhood but also created
doubts in the minds of soldiers about their own capacities.
For example, Jackson's death on May 10, 1863, from wounds
received at. the battle of Chancellorsville caused the soldiers
of his regiment to prophesy the defeat of the Confederacy:
A great many of our boys said then our star of
destiny would fade, and that our cause would be lost
without Jackson, as there was no General who could
execute a flank movement with so much secrecy and
surprise as he could. (easier 153)


38
Writing his reminiscences of the war, John 0. easier, a member
of Jackson's regiment, admitted that "Through the destiny of
a nation may appear to be in one man's hands sometimes, yet
there is One above all who controls both men and nations"
(153). Still, the death of Jackson had a demoralizing effect
on his men. Having believed that God was on their side,
Confederate troops continually witnessed evidence seemingly to
the contrary.
Doubt creeped in in other ways as well. The rhetoric of
Southern manhood dictated an aggressive, "reckless" style of
fighting, but the exigencies of war frequently did not conduce
to such a style. Lacking supplies, manpower, and technology,
Confederate military leaders resorted to a mostly defensive
strategy, one that seemed to many to be "unmanly." "I am
tired of doing nothing," Sergeant Edwin H. Fay confided to his
wife in a letter dated November 13, 1863. "I want an
opportunity of killing the damnable villains who pollute our
land" (Fay 357). Fay's language mirrors that used by Nugent
and Pendep. characterizing the Yankees as "damnable
villains," Fay positions himself as fearless defender. "I
don't want a position in the Engineering Corps or any Dept,
half as bad as I do an Independent Scout," he proclaimed in
the same letter. "Then I have an opportunity to carry out my
maxim that paroled Yankees never come back to fight" (357).
Yet Fay's regiment was bogged down in Mississippi, due to a
lack of supplies and a well entrenched Union presence. Fay


39
wanted the opportunity to be "reckless" and fulfill the
rhetorical standard of "the Southern man." But he and many
other soldiers came to recognize that their nation's
rhetorical construct had simplified the conditions of war and,
perhaps, had underestimated the capacity of the Yankees as
soldiers.
The situation for Fay's regiment resembled that of other
regiments throughout the Confederacy. The lack of military
action and victory created hostility and self-doubt in and out
of the army. Some of that hostility was expressed in a
parodie catechism about army life originally intended for
publication in an army newspaper but given wider circulation
to civilian audiences in September 1862, in both the Mobile
Register and The Southern Literary Messenger:
Q.What is the first duty of an army?
A.To destroy as much private property as possible,
particularly that belonging to its friends.
Q.What is the second duty?
A.To parole all prisoners taken from the enemy who are
known to have burned houses, stolen negroes or murdered
women.
Q.What is the third duty?
A.Always to act on the defensive and never to invade
the enemy's territory however good may be the
opportunity, although he may be ravaging yours all the
time. (quoted in Harwell, The Confederate Reader. 128)
Such public derision of the army undermined the rhetoric of
moral and combat superiority of Southern men that
secessionists had worked so hard to create. As Mary Chesnut
observed in a diary entry dated August 3, 1864, "An army, by
constantly retreating, loses confidence in itself" (630).
Secessionist rhetoric and the Southern code of honor enforced


40
the idea that retreat meant unmanly inaction, and Union
victories made retreat an increasingly necessary military
maneuver. Confederate troops learned firsthand that rhetoric
meant little on the battlefield.
The rhetoric of superior Southern manhood had also begun
to lose its luster at the homefront. With the increased
deprivations there, women unhinged the bond between Southern
manhood and the Southern nation by agitating for an end to the
war. "What do I care for patriotism?" proclaimed one South
Carolina woman to a friend in 1864. "My husband is my
country. What is country to me if he be killed?" (quoted in
Faust, "Altars of Sacrifice," 192). Because their self-image
was not directly connected to the success of the Confederate
nation, the people at the homefront did not have as much of a
commitment to sustaining it. Martha Revis, a young North
Carolina woman, reported to her husband in a letter dated July
20, 1863, that "The people is all turning to Union here since
the Yankees has got Vicksburg" (Yearns and Barrett 97).
Those at the homefront were uniquely positioned to
observe how meaningless the rhetoric of Southern manhood
really was. Katherine Couse, a South Carolina woman whose
home was constantly robbed by soldiers on both sides, recorded
her despair in a diary entry dated May 20, 1864:
Might makes right here, we wake up in the morning and
find the thing we prize most highly gone. We are
suffering from such lawless times as existed in the dark
ages, but no knights-errant rise up with the times to
protect the helpless and redress grievances. (quoted in
Schultz, 71)


41
Couse's language engages and critiques the tropes of
Confederate national rhetoric. Hoping for the promised
"knights-errant" to save her from the invading horde, Couse
instead finds the rhetoric to be hollow. Couse perceives
herself to be suffering through "such lawless times as existed
in the dark ages." The "law" of the nation, embodied by its
men, had evaporated. The Confederate soldiers who robbed
Couse and her family clearly did not resemble the chivalric
depictions of men offered by secessionist rhetoric. Because
of the interlinking of the rhetoric of manhood and nation, the
degeneration of Confederate men presaged a similar collapse of
the Confederacy.
Even where the law of the nation still possessed great
efficacy, women found themselves having to speak for their own
self-interest. The weakening of the Confederacy exacerbated
class differences which the rhetoric of superior Southern
manhood had glossed over. A Private 0. Goddin wrote to North
Carolina Governor Zebulon Vance on February 27, 1863, "I am
fearful we will have a revolution unless something is done as
the majority of our soldiers are poor men with families who
say they are tired of the rich mans war & poor mans fight"
(Yearns and Barrett 98). One poor woman from Georgia seemed
sincerely pained to ask her husband to desert:
My dear Edward:I have always been proud of you, and
since your connection with the Confederate army, I have
been prouder of you than ever before. I would not have
you do anything wrong for the world, but before God,
Edward, unless you come home we must die. (Wiley 174)


42
Mary, the letter's author, understood that she was violating
an implicit trust in encouraging her husband to violate the
law, but she and many others were positioned to witness
firsthand the failures of the Confederate nation.5
The rhetoric of superior Southern manhood did not prepare
Confederates for defeat. They had left home confident of
ultimate victory; they returned home physically and
psychologically devastated to a countryside that reflected
their own damage and desolation. For example, Captain John 0.
Dooley, a native of Richmond, expressed shock and dismay when
he discovered on March 30, 1865, that Union troops occupied
his hometown:
This intelligence is the most afflicting I ever received.
I feel bewildered, crushed, by the sudden, fearful fall.
Never before have I felt so desolate, so prostrate, so
hopeless. Farewell, poor burning Richmond! Oh, that
whole seas of blood and treasure, poured out in your
defence, should be rendered of no avail by the disaster
of a single day! (Dooley 176-7)
Though Dooley determines to head farther South to try to join
up with any remaining remnants of the Army of Northern
Virginia, he encounters only the chaos of the disintegrating
nation.
As he moves on foot further south, he sees evidence that,
to his mind, spells the end of the Confederacy:
In the gulleys and along the fences might be seen the
abandoned muskets of the straggling soldiers. Some were
broken, the barrels of others bent and the muzzles choked
with mud. And cap boxes and cartridges lay in sad
confusion along the road side. I had been in retreat
from Boonsboro and Sharpsburg, but never had my eyes
witnessed so sad a sight as this. And my heart sinks
low, for here lie unmistakable evidences of a set


43
determination upon the part of hundreds to fight no more,
and a shameless indifference as to whether the world
knows it or not. By these signs more than by any others
I seem to feel that the Republic is despaired of. (182)
Dooley detects defeat not in military loss but in the
"shameless indifference" shown by retreating and deserting
soldiers. In making such a public display of their dishonor,
these soldiers showed that they no longer linked their own
manhood to the survival of the Confederacy. The "unmanly"
lack of honor is, for Dooley, the surest sign of the defeat of
the Southern nation.
One returning Confederate soldier, Fred Fleet, son of a
prominent planter family in Virginia, noticed the despair that
pervaded the land. "I think there is something lacking in our
people," Fleet observed in a letter to his mother dated
December 30, 1866, "some want of energy or fear to risk
anything in an investment and I am afraid it will take them a
long time to get righted again" (Fleet 22). Continuing with
this train of thought, Fleet told the story of a Confederate
officer and his reaction to the conclusion of the war:
He fought for four years as a cavalry officer and came
home to devastation and desolation but got hold of a mule
which he hitched to a plow as best he could. "Proceed!"
he shouted. Nothing happened. "Advance!" Again nothing
happened. Sinking to his knees, he said, "0 Lord, why
wasn't I killed at the Second Battle of Manassas."
(Fleet 22)
Having lost his belief in the superiority of Southern manhood
when the war was lost, this soldier now experienced a further
erosion of his mastery when the mule would not even obey his


44
commands. Fred Fleet took this story as being emblematic of
the people of his region.
Because secessionist rhetoric had been purely
oppositional, coding South as superior and North as inferior,
the demise of the Confederacy simply inverted this coding.
Now, former Confederates saw themselves as inferior. The
promise of a Southern nation having gone unfulfilled, the
rebels questioned what had gone wrong. The recurrent answer
was simply that Southern men had overestimated their own
capacities. Emma Holmes of Charleston, South Carolina, noted
in a diary entry at the end of May 1865 that "we could not but
acknowledge the bitter, humiliating truth, which our boys
openly declared, that we had showed we were incapable of self-
government" (Marszalek 438). Holmes's friend Mary Chesnut
declared that, though the men were bearing up under the burden
of defeat well, one subject was not broached: "Of the country
we try not to speak at all" (790) The war not only deprived
these would-be rulers of their desired nation but also cost
them their sovereignty and their slaves, the one group that
they had successfully ruled over.
The confidence expressed by secessionists leading up to
the war was replaced by a pervasive sense of despair and
inadequacy. Former South Carolina Governor Francis Pickens,
at the convention to rewrite the state constitution, chastized
those unrepentant Confederates who still wished to agitate:
It does n't become South Carolina to vapor or swell or
strut or brag or bluster or threat or swagger; she points


45
to her burned cities, her desolate plantations, her
mourning hearths, her unnumbered graves, her widows and
her orphans, her own torn and bleeding body,this, she
says, is the work of war; and she bids us bind up her
wounds and pour in the oil of peace,bids us cover her
great nakedness; and we must do it, even if it needs that
in so doing we go backwards. (Andrews 43)
Pickens's diction directly attacks the basic premises of the
rhetoric of both Southern masculinity and nation. By
denouncing the desire of some unrepentant Confederates "to
vapor or swell or strut or brag or bluster or threat or
swagger," Pickens hits at writers like William Holcombe and
James Thornwell, who privileged "swagger" and "swelling" as
basic components of Southern manhood. In large measure, the
boyish recklessness of secessionists produced the results
Pickens lists: "her burned cities, her desolate plantations,
her mourning hearths, her unnumbered graves, her widows and
her orphans, her own torn and bleeding body."
Yet Pickens's coding of the defeated South Carolina as
female is also a move to reclaim some sense of Southern male
wholeness, even in the face of defeat. Pickens recurs to the
feminine to display the lack produced by defeat in war. This
"body" is "naked," "torn and bleeding." At the same time that
Pickens critiques the braggadocio that undergirded
secessionist rhetoric, he also holds out the possibility of a
reformed Southern masculinity, stripped of its recklessness
perhaps but nevertheless in control. Kaja Silverman has
suggested that historical trauma like war tends to bring male


46
subjects into contact with the "lack" traditionally associated
with the feminine:
That trauma surfaces in the form that will henceforth
prove decisive during the castration complex; it
manifests itself, that is, in the guise of the anatomical
lack to which the female body is subsumed and with which
the male body is threatened. Physical castration
consequently provides the form through which the subject
is ideologically encouraged to liveor not to livethe
loss of being, and all subsequent crises that could
reprise that loss. It is not surprising, then, that when
the male subject is brought into a traumatic encounter
with lack, as in the situation of war, he often
experiences it as the impairment of his anatomical
masculinity. What is really at issue, though, is a
psychic disintegrationthe disintegration, that is, of
a bound and armored ego, predicated upon the illusion of
coherence and control. (Male Subjectivity. 62)
Pickens seeks to lead off that "psychic disintegration" and
restore "the illusion of coherence and control" by deflecting
the issue of lack from the Southern man. Like Miss I. D. M. ,
who attempted to restore credibility to the rhetoric of
superior Southern manhood by not seeing the wounds of the
soldiers she visited, Pickens chooses to visit the "lack"
produced by the war upon the site that, ideologically
speaking, had always known itthe feminine. Thus, Pickens's
denunciation of the Holcombe version of Southern masculinity
is an effort to disarm the rhetoric that would, because of the
result of the war, constantly point back to Southern male
lack. He instead tries to consolidate the collective Southern
male psyche, one of many attempts at such a "reconstruction"
in the aftermath of the war. These efforts achieve success
only when a component part of the reconsolidation becomes the
idea of the Southern nation.


47
"Jeff in Petti coats"
Pickens's efforts notwithstanding, no one could deny that
the Confederacy had been defeated and the South would be
reintegrated into the Union. In losing the war, the
Confederacy lost both rhetorical and political control of
itself. Thus, while Pickens and others tried to reconcile
themselves and their countrymen to defeat and to resuscitate
the self-image of Southern men, Northern journalists and
writers emphasized the power of Northern manhood and the
consequent emasculation of the South. For example, Sidney
Andrews, writing for the Boston Daily Advertiser, observed the
goings-on in South Carolina and concluded that the citizens
there were ripe for domination:
Individuals there are who rant and rave and feed on fire
as in the old days, but another war is a thing beyond the
possibilities of time. So far as any fear of that is
concerned we may treat this State as we please,hold it
as a conquered province or restore it at once to full
communion in the sisterhood of States. The war spirit is
gone, and no fury can re-enliven it. (37)
Andrews ridicules the unrepentant Confederates "who rant and
rave ... as in the old days," a reference to the rhetoric of
superior Southern manhood. He emphasizes the degraded
condition of that rhetoric and the men it made by pointing out
that the North was once again in control. The idea of
treating South Carolina and the other Confederate states as a
"conquered provinces" not only was a political possibility
advocated by Radical Republicans like Charles Sumner but also
underscored the new Northern dominance.


48
Another favorite target for attacks on Southern manhood
was Jefferson Davis, who, as the New York Times reported, when
captured on May 10, 1865, in rural Georgia, was wearing a
dress:
The captors report that [Jefferson Davis] hastily put on
one of Mrs. Davis' dresses and started for the woods,
closely pursued by our men, who at first thought him a
woman, but seeing his boots while running suspected his
sex at once. The race was a short one, and the rebel
President was soon brought to bay. ... He expressed
great indignation at the energy with which he was
pursued, saying that he had believed our Government more
magnanimous than to hunt down women and children,
(quoted in N. Silber, 625)
Whether or not the Confederate president was wearing a
dress is a matter open to some interpretation. Still, at
least according to this report, Davis seems to affirm his
effeminacy and lack of power when he groups himself with
"women and children." Political cartoonists had great fun
with the idea, and an enterprising songwriter, Henry Tucker,
penned a song to memorialize Davis's capture called "Jeff in
Petticoats." Tucker, like the dispatch in the New York Times.
disempowers the image of Davis by infantilizing him:
Jeff Davis was a hero bold,
You've heard of him, I know,
He tried to make himself a king
Where southern breezes blow;
But "Uncle Sam" laid the youth
Across his mighty knee,
And spanked him well, and that's the end
Of brave old Jeffy D. (quoted in I. Silber, 343-4)
The image of Uncle Sam spanking Davis perpetuated the idea of
many Northerners that the Civil War was a disciplinary action-
-that an unruly family member had gotten out of line and had


49
to be punished. Tucker's language also undercuts the term
"hero" used in the first line. Davis, and consequently all
the Southern men he represented, were no better than boys when
compared to Northern men.
Tucker further emphasizes Davis's lack of efficacy
through his feminization. Just as Southern secessionists had
doubted the truthfulness of Northern masculinity, Tucker calls
into question the manhood of the Confederacy's leader in the
last stanza of the song:
The ditch that Jeff was hunting for,
He found was very near;
He tried to "shift" his base again,
His neck felt rather queer;
Just on the out "skirts" of a wood
His dainty shape was seen,
His boots stuck out, and now they'll hang
Old Jeff in crinoline. (I. Silber 345)
Tucker's pun on "skirt" and his reference to Davis's "dainty
shape" work toward a feminization of Davis and the whole
Confederacy. But in his emphasis on Davis's "shift" and his
feeling "queer," Tucker hints in a not very subtle way at
Davis's possible homosexuality. Once again, the standard for
masculinity is coded as heterosexual; Davis's cross-dressing
breeched that standard and suggested a corrupt and immoral
Confederacy.6
As the initial shock of defeat began to wear off, other
prominent Southerners began a reevaluation of the war effort
and its meaning for white Southern manhood. J. D. B. DeBow
began a series of articles entitled in "Times in the
Confederacy" to refute what he saw as scurrilous attacks on


50
the Southern people. In the fifth article of this series,
published in February 1867, DeBow tried to revise the view
that had developed of Cofederate soldiers as brutes, laggards,
and cowards:
You saw [soldiers] in the highways walking in squads,
with their heavy burdens, to their distant homes, upon
furlough or returning promptly to their commands. You
saw them at your door asking for a few crumbs and a
night's shelter upon the floor or in the piazza. You saw
them sleeping upon the hard ground often in the freezing
night without blankets and without fire, but did you ever
hear them complain or wish to evade the calls of duty?
Not often. ("Memories of the War," 142-3)
DeBow, through the offices of his journal, sought to reclaim
Southern manhood from the ashes of defeat. He set in motion
an effort to reconsider the war, to absolve Southern men of
the guilt and stigma of defeat, and to resist Northern
depictions of the "Southern man" as conquered, impotent and
feminized.
Jefferson Davis came to play a significant role in the
resuscitation of white Southern manhood. Appropriated by
Northern writers as "Jeff in Petticoats," Davis received a
boost from some Southern historians. In rejecting the
feminized version of Davis, these historians redeployed Davis
as an embodiment of Southern manliness and honor. In the
booknotes section of the August 1866 issue of DeBow's Review,
the editors reprinted excerpts from a new book entitled Prison
Life of Jefferson Davis. These excerpts showed Davis as
sickly but far from emasculated. In one anecdote, Davis


51
reacts violently when a Union officer orders that he be placed
in leg irons:
At these words, the blacksmith advanced with the
shackles, and seeing that the prisoner had one foot upon
the chair near his bedside, his right hand resting on the
back of it, the brawny mechanic made an attempt to slip
one of the shackles over the ankle so raised; but, as
with the vehemence and strength which frenzy can impart,
even to the weakest invalid, Mr. Davis suddenly seized
his assailant and hurled him half way across the room.
("Editorial Notes, Etc.," 221)
In a later scene, Davis tries to wrestle away a musket from
one of his guards. "Kill me! Kill me!" Davis shouts, "rather
than inflict on me, and on my people through me, this insult
worse than death." Davis is portrayed not as a cross-dressing
wimp or a closet homosexual but as a man defending his and, as
he is purported to have said, his "nation's" honor.
Whereas Northern writers sought to use Jefferson Davis as
a symbol of Southern submission, unrepentant Confederates
utilized their former president not only as a symbol of the
continuing honor and strength of Southern men but also as the
beginning of the argument against Northern occupation.
Davis's unwillingness to be bound sets off a strong Union
responsefour soldiers come into his cell to subdue him:
In a moment Mr. Davis was flung upon his bed, and before
his four powerful assailants removed their hands from
him, the blacksmith and his assistant had done their
workone securing the rivet on the right ankle, while
the other turned the key in the padlock on the left.
(221)
For those former Confederates still embittered by defeat,
Davis and his rough treatment at the hands of his Union
oppressors became a kind of metonym for the condition of the


52
South. Shackled by the Northern military and economic
control, many Southerners feared harsh reunion terms. Still,
though superior Northern power could shackle the South, it
could not destroy its spirit, just as Davis's demand for
recognition of his honor showed his continuing nationalistic
fire.
Still, Davis proved a problematic figure for those who
were rethinking the actions of the Confederate government.
Resuscitating white Southern manhood required that blame for
defeat in war be placed elsewhere, and the government at
Richmond, the government headed by Jefferson Davis, seemed the
most likely culprit. Beginning in May 1868, a series of
articles, unpromisingly titled "Blunders of the Confederate
Government," began to appear in DeBow1s Review. Isolating six
problem areaspolitical foresight, financial policy,
diplomacy, military administration, principles of
constitutional government, and general strategythe authors
of the articles laid the blame for Confederate defeat at the
doorstep of the Davis Administration.
Davis becomes a direct target of criticism when the
authors of "Blunders" discuss the military preparedness of the
Confederacy. As the leader of the Southern nation, Davis was
responsible for providing his men with all of the material
they needed to win the war. The authors provide an anecdote
which in their judgment showed that, rather than blame


53
Southern men for defeat, Davis was to blame because he simply
did not understand what fighting a war involved:
While Congress was in session at Montgomery, President
Davis asked General Henningsen how much powder he thought
should be provided against the emergency. The General
suggested 900,000 pounds, and the President laughed at
his extravagant estimate. Yet the President was one of
those who looked forward to war, though little foreseeing
the proportions it would assume. ("Blunders of the
Confederate Government," II, 656)
The criticisms leveled at Davis demonstrate the same shift in
the definition of Southern manhood as Pickens's critique of
the Southern male tendency to "swagger" and "swell." Davis's
incompetent management of the government deprived the troops
of their chance at victory. Though such characterizations
never went so far as "Jeff in Petticoats," the image of Davis
as incompetent bureaucrat helped refute charges of Southern
men's lack of courage and wherewithal.7
Ironically, then, the idea of superior Southern manhood
as well as the nation it represented gained in strength as the
leadership of that nation fell from grace. Unrepentant
Confederates loved the idea of their nation more than the
nation itself, and that idea became a crucial cog in restoring
the self-image of white Southern men and their political
viability. Whereas secession and the Confederacy were made
possible by the belief in the myth of white Southern male
superiority, after the war the reverse was true. White
Southern men could be restored to their former political and
social prominence only if the idea of the Southern nation were
once again made strong and viable. As Reconstruction began,


54
Southern thinkers began their own reconstruction, and the
fiction produced in the post-war South provided a key venue
for the reconfiguration of the imagined community of the
Southern nation. This "reconstruction" was yet another
attempt on the part of those Southerners who perceived
themselves and their region to be different from the rest of
the country to come to grips with a world that they feared and
did not understand. In Geertzian terms, the idea of the
Southern nation provided the ideology to make their situation
"comprehensible."
NOTES
xThe best overview of the creation and circulation of the
cavalier myth remains William Taylor's Cavalier and Yankee.
Taylor shows through historical and literary analysis how the
mythological figures of North and South
grew and developed in the first half of the nineteenth
century, what social problems produced the need for this
kind of historical rationalization, what kind of worries
and anxieties attended [their] development, and what kind
of men and women contributed to [their] growth and
disseminationwhat sort of mentality, in other words,
created this legendary past and this fictional sociology,
and what sort of needs it satisified. (xvi)
Taylor's analysis is Geertzian in that he traces the "need"
for these myths to anxiety of Southerners concerning their
political place in the nation as westward expansion and the
growth of abolitionist sentiment seemingly imperiled the
institution of slavery. The cavalier myth helped make an
"incomprehensible" situation make sense. See Taylor, Cavalier
and Yankee (New York: G. Braziller, 1961), particularly pp.
xv-xxii, 13-24, and 123-155.
My language and ideas intentionally mirror those of
Louis Althusser in his essay "Ideology and Ideological State
Apparatuses." Althusser writes:
Ideology "acts" or "functions" in such a way that it
"recruits" subjects among the individuals (it recruits
them all) or "transforms" the individuals into subjects


55
(it transforms them all) by that very precise operation
which I have called interpellation or hailing, and which
can be imagined along the lines of the most commonplace
everyday police (or other) hailing: "Hey, you there!"
(95-6)
What Wyatt-Brown identifies when he talks about "honor" is
that ideology which has "recruited" or "transformed"
Southerners into Southerners (i.e., not-Northerners, or, in my
formulation, un-Yankees) What pro-secessionists like
Holcombe and the editorialist who wrote "Northern Mind and
Character" do is to embody that ideology in a tropethe
Southern manand then "hail" the men of the South with it, in
this way creating subjects for the new Southern nation. See
Althusser, "Ideology and Ideological State Apparatuses," in
Contemporary Critical Theory, ed. Dan Latimer (New York:
Harcourt Brace Jovanovich, Inc., 1989), pp. 60-102.
3LeeAnn Whites points out the way in which black
subjugation fueled white power: "Either the black man in his
capacity as slave to the white man would go on making his
master a man, or the white man would lose his slaves and with
them his concept of himself as a free man, while the black man
achieved his own manhood" (10, author's emphasis). The fear
of losing the institution of slavery underscored white
Southern men's fear of losing both the lifestyle made possible
by slave labor and the ability to dominate. The result of the
Civil War not only exploded the rhetoric of superior Southern
manhood but also denied white men the mechanisms to reaffirm
their own efficacy. See Whites, "The Civil War as a Crisis in
Gender," in Divided Houses, eds. Catherine Clinton and Nina
Silber (New York: Oxford University Press, 1992), pp. 3-21.
The Lacanian phallus does not equate directly to the
penis, at least for Lacan; rather, the phallus becomes the
ultimate signifier, "a signifier whose function, in the
intrasubjective economy of the analysis, lifts the veil
perhaps from the function it performed in the mysteries. For
it is the signifier intended to designate as a whole the
effects of the signified, in that the signifier conditions
them by its presence as a signifier" (Lacan 285). In other
words, the phallus embodies "the effects of the signified" and
simultaneously "conditions" those effects. The phallus is the
"law" insofar as it commends itself to the attention of
"subjects" as both an "object of desire" and the organizing
principle of that desire.
In his lucid commentary on Lacan's system of
psychoanalysis, Mikkel Borch-Jacobsen provides a clearer
interpretation of the work of the phallus. Discussing the
father's supposed possession of the phallus, Borch-Jacobsen
concludes:


56
On the contrary, he "has" it only to the extent that he
has given it up beforehand by incurring symbolic
castration: the phallus is a title, which he has received
so that he can bestow it in accord with symbolic pact and
law. In other words, the phallus may very well express
masculine power (the power that ultimately explains why
women do not exchange men/phalluses), but it does so only
symbolically (that is, we must understand, not sexually).
The phallus is the penis annulled-castrated-raised to the
function of "scepter," of inherited signifier, which is
passed on according to the law of exchange and kinship.
(213)
The connection between the nation, which I have designated as
the "phallus," and its men becomes somewhat clearer. The
rhetoric of secession deployed two interrelated tropesthe
idea of a Southern nation and the idea of a "Southern man."
The imagined nation posits itself as the ultimate "desire" of
a Southern man at the same time that it organizes that man's
"appropriate" desires. Thus, the imagined Confederacy could
maintain its position as ultimate arbiter of "true" Southern
men, it could maintain such men's belief in its primacy and
necessity.
Borch-Jacobsen further illustrates the method by which
the phallus figures in identity formation:
The child (the boy) really does continue to be the
phallus insofar as he identifies with the one who has it.
The only difference is that now he is it "by not being
it," insofar as he identifies not with the object but
with the signifier of the desire of the mothernamely,
with the object negated by the paternal "no." In short,
he is a "no"-object; in other words, a subject: he
desires himself beyond himself, such as he is not. At
present, the phallus is the signifier of his desirethat
is, of the non-object that he is (or, what amounts to the
same thing, of the object that he is not) for the desire
of the other. Or, again, the phallus is the signifier of
the subject, insofar as the subject identifies himself in
it ("represents his identity" in it) under erasure, in
the mode of a forbidden, barred, repressed
identification: the subject is the phallus insofar as he
is not it, insofar as he "metaphorizes" himself in it and
defers his own identity in it. (224)
The phallus thus becomes the ultimate signifier, and the
subject (such as the "Southern man") is simultaneously not the
phallus but "defers his own identity in it." In this way, the
phallus is perpetuated (perpetuates itself?) as the ultimate
signifier by its capacity to cause subjects to defer to it.
In the case of the Southern nation, the idea of the nation


57
retained the status of phallus only as long as it seemed a
viable "law." As the war dragged on and the nation proved
increasingly incapable of sustaining itself as the ultimate
signifer, Southern men no longer felt bound to the natiion, no
longer "deferred" to it, to sustain their identity as "men."
Thus, with the link between nation and manliness broken, many
soldiers deserted, with no fear of being branded "unmanly."
See Jacques Lacan, Ecrits: A Selection (New York: W. W. Norton
& Company, 1977), pp. 281-291, and Mikkel Borch-Jacobsen,
Lacan: The Absolute Master (Stanford: Stanford University
Press, 1991), pp. 210-230.
5Historian Drew Gilpin Faust has argued that closer
attention to the Southern homefront must be paid in order to
understand completely the causes of Confederate defeat:
Historians have wondered in recent years why the
Confederacy did not endure longer. In considerable
measure, I would suggest, it was because so many women
did not want it to. The way in which their interests in
the war were publicly definedin a very real sense
deniedgave women little reason to sustain the
commitment modern war required. It may well have been
because of its women that the South lost the Civil War.
(199)
Faust argues that the ideology of the Confederate nation was
not sympathetic to women, so women ultimately felt no guilt
over advocating that their men desert, an action that would
clearly lead to the destruction of the Confederacy. More on
the role of women in the construction and failure of the
Southern nation will be discussed in Chapter 2. See Faust,
"Altars of Sacrifice: Confederate Women and the Narratives of
War," in Divided Houses: Gender and the Civil War, eds.
Catherine Clinton and Nina Silber (New York: Oxford University
Press, 1992), pp. 171-199.
6Nina Silber makes much the same point in her essay
"Intemperate Men, Spiteful Women, and Jefferson Davis:
Northern Views of the Defeated South." Though she does not
directly address the question of homosexuality, she
persuasively argues that Northern writers exploited themes of
unstable gender roles in the post-war South to symbolize the
completeness of Confederate defeat: "In the aftermath of the
Civil War, gender was used to signify relationships of power,
in this case to reveal Northern men's belief in the natural
condition of control which they were to exercise over the
South. In the immediate postwar period, these images of
weakened Southern men, hostile Southern women, and a disguised
Jefferson Davis, all of whom were ultimately suppressed by
virile Northern soldiers" (633). The balance of masculine
power had been tipped by the war. Southern men were


58
emasculated while Northern men were virile. Ultimately
Southern writers recurred back to the origin of the
Confederacy to try and refute this Northern ridicule and
"subjugation." See Silber, "Intemperate Men, Spiteful Women,
and Jefferson Davis: Northern Views of the Defeated South,"
American Quarterly 41 (December 1989) : 614-635.
7 Susan Jeffords has made the same kind of argument
concerning the attempt to "remasculinize" American men after
the Vietnam War. She argues that fiction and cinema taking
the war as their theme cast veterans as victims of their
government, their society, and their experiences in the war.
Further, Jeffords observes,
these arguments of victimization are particularly
gendered because the soldier/veteran achieves his renewed
status only in opposition to characters or institutions
defined as feminine. Specifically, the U. S. government
and its loss of the war but in relation to their
inability to retrieve POWs from Vietnam. Through a
posture of negotiation, government figures are shown to
be weak, indecisive, and vulnerable, in clear opposition
to the now strong, determined, and decisive
soldier/veteran. (xiv)
In positing the Davis government as the real weakness during
the war, Confederate sympathizers could "remasculinize"
Southern men. Much of the fiction written by Southerners in
the postbellum period, whether it acknowledged the war or not,
served this ideological purpose as well. This fiction will be
discussed in later chapters. See Jeffords, The
Remasculinization of America (Bloomington: Indiana University
Press, 1989), particularly pp. 144-186.


CHAPTER 2
PERFORMING CONFEDERATE NATIONALISM:
WHITE WOMEN'S REJECTION OF BODILY GOVERNMENT
In her now classic work of feminism, A Room of One1s Own.
Virginia Woolf exposes what she sees as the uses women have
been put to by men. In the most famous passage in the book,
Woolf points out that women have had an inadvertent role in
war-making:
Women have served all these centuries as looking-glasses
possessing the magic and delicious power of reflecting
the figure of man at twice its natural size. Without
that power probably the earth would still be swamp and
jungle. The glories of all our wars would be unknown.
. . The Czar and the Kaiser would never have worn
their crowns or lost them. Whatever may be their use in
civilised societies, mirrors are essential to all violent
and heroic action. That is why Napoleon and Mussolini
both insist so emphatically upon the inferiority of
women, for if they were not inferior, they would cease to
enlarge. (35-6)
Woolf suggests that, in "enlarging" men, women fuel male
narcissism, which she sees as a necessary component of the
drive for power. To facilitate and sustain such enlargement,
women had to accept a position of inferiority. Their service
to the state required submission and passivity.
Half a century later, in his investigation of the roots
of German nationalism leading to the Third Reich, George L.
Mosse, while agreeing with Woolf's basic conclusion, extends
this discussion to include his assessment of how women had
specific roles to play in the creation and maintenance of
59


60
national spirit. Mosse notes the distinct role that
nationalism enforced on women: "It almost seems as if women
were transformed into static, immutable symbols in order to
command the admiration of truly masculine men" (100-101).
Women became tools to help distinguish "truly masculine men"
from those who were "weak" and, hence, useless to the nation.
Women also provided bodies that needed protecting. Mosse
quotes Rebecca from Sir Walter Scott's Ivanhoe to make this
point: "God made women weak and trusted their defence to men's
generosity." Mosse and Woolf reach the same basic conclusion-
-men need women to be weak so that they, by contrast, can be
strong or "enlarged." Indeed, the dictates of nation-building
inscribed such distinct roles upon men and women.
Mosse argues further that the passivity imposed on German
women coincided with the symbolism that German nationalists
wanted to invest in the feminine. Women were to be exemplars
of morality and virtue who would, in turn, demonstrate the
morality and virtue of the German nation. Significantly,
Mosse demonstrates how even German feminists, a group
seemingly likely to contest institutionalized submission, were
co-opted by the forces of nationalism:
The majority of those in the German feminist
movement adopted the prevailing stereotype of
femininity. Society, they said, needed women's
"peculiar gifts," "something of their pure love."
As custodians of morality, women were responsible
for education and helping the poor. Women's
suffrage would open public life to "maternal
influences," not to female politicians. The effort
to remain above politics was important to the
majority of women in the movement, and talk about


61
political parties was brushed aside with the
assertion that the nation came first. (Ill)
Thus, Mosse offers significant amplification of Woolf's
position. Women were complicit in their own disempowerment,
but the ideology of nationalism called on women to accept such
a role. Women willingly became "mirrors" because they were
led to believe that they did the most good for their nation in
this role.
Though both Woolf and Mosse use European examples, much
of what they say can be used to describe the role of white
women in the construction of the Confederate nation. Women
were called upon to be mirrors by the ideology of Southern
honor, and for the most part, they behaved accordingly.
Confederate women occupied a paradoxical position in the idea
of the new nationat once weak and, hence, in need of
protection and simultaneously brave, courageous, and self-
sacrificial.
As the war exposed the inadequacy of the Southern nation,
women at the homefront began to question the wisdom of
continued loyalty. That questioning often took overt forms:
newspaper reports, bread riots, letters of protest to
government officials, letters to loved ones advocating
desertion. Still other women lodged their protests privately
in diaries. These women were reacting to the assaults that
the war had authorized against their bodies. Hunger,
household upheaval caused by the invading Union army, and lack
of physical contact with husbands and lovers were only a few


62
of the deprivations that Southern women had to live with. Put
simply, Confederate women ultimately rejected the use to which
the fledgling nation had put their bodies. While superior
Union numbers and resources helped the North to triumph in the
war, the rejection by Confederate women of their nationally
prescribed roles also caused the defeat of the Southern
nation.1
The bifurcation between the spheres of men and women was
clearly not a phenomenon limited to the southern United
States. Yet, the split between male and female realms was
more pronounced, especially concerning the role the physical
body played in each. In a society so completely bound up with
the question of honor, white men frequently had to put their
bodies at the forefront of disputes. As Bertram Wyatt-Brown
has suggested, honor had a public component. How a man viewed
himself was inextricably linked to the public's perception of
him. Thus, individuals needed to perform according to "manly"
standards in the public arena in order to be accorded the
honor they felt they deserved. As Wyatt-Brown puts it, "The
internal and external aspects of honor are inalienably
connected because honor serves as ethical mediator between the
individual and the community by which he is assessed and in
which he also must locate himself in relation to others" (14).
Ironically, "ethical" behavior often was violent
behavior. Southern men felt compelled to subject their bodies
to these tests of honor. As Kenneth S. Greenberg has argued,


63
men viewed one another's bodies as texts, and what was or
wasn't written on them contributed greatly to social
perception:
To gouge out an eye or otherwise mutilate the face of an
enemy was the most common object of men involved in fist
fights. With the possible exception of battle wounds,
the mutilation itself was dishonoring, no matter how it
was actually acquired. In a sense, all mutilations were
equal, because men read the character of other men
through the external features of their face and body.
(67)
Thus, in a very direct way, the world of white men in the
South was a bodily world, a world, as Wilbur J. Cash described
it, "which was full of the chip-on-shoulder swagger and brag
of a boyone, in brief, of which the essence was the boast,
voiced or not, on the part of every Southerner that he would
knock hell out of whoever dared to cross him" (44).
Certainly the world of white Southern women involved the
body, too. However, slavery effectively changed the place of
Southern women, or, at least, the place of those women whose
husbands owned slaves. Removed from much of the labor
required in running a household, these women could be elevated
to the status of "lady." In the May 1835 Southern Literary
Messenger, Thomas Dew, a professor at William and Mary
College, published an essay in which he laid out the
responsibility of a Southern "lady":
She may pursue her studies toonot however with a view
of triumphing in the senate chambernot with a view to
forensic displaynot with a view of leading armies to
combat, or of enabling her to bring into more formidable
action the physical power which nature has conferred on
her. No! It is but the better to perfect all those
feminine graces, all those fascinating attributes, which


64
render her the centre of attraction, and which delight
and charm all those who breathe the atmosphere in which
she moves. (Dew 406)
Women were to produce an "atmosphere" that would in turn
inspire men. Dew suggests, in rather phallic terms, that a
woman should perfect herself to the point where she "would
make ten thousand swords leaps from their scabbards to avenge
the insult that might be offered to her" (406). The "feminine
graces" which Dew advocated perfecting ultimately accrued to
the benefit of men, in terms of either a fight (which would
provide the venue for a man to prove his worth and honor) or,
more subtly, sexual desire and conguest (which would prove
manliness). Dew's suggested "education," in short, had more
to do with the appropriate performance of femininity and its
consequent effect on masculinity than with any effort to
improve Southern women.
The sense that femininity was a performance to enhance
men's authority gets extended in various religious, legal, and
sociological tracts published in the antebellum South. For
example, a sermon preached at St. Mary's School in Raleigh,
North Carolina, in 1847 (and later published as a pamphlet for
larger circulation) decried the terrible education young
Southern women were getting. For the speaker, Southern women
needed a good Christian upbringing so that they might
proselytize to, and hence, tame, their men. Yet the
"preaching" of women had to be done more by example than
through language:


65
The preaching of the wife to be effectual, and "to
win the husband," must be simply her faithful
exhibition in all her conduct of the beauty and
heavenly influence of religion. It should appear
in her subjection to her husband's authority, in
her affectionate attachment to him, and her evident
wish to make him happy. ("She Hath Done What She
Could". 10)
In addition, a woman could "preach" by her attentiveness to
domestic duties, especially the raising of children and the
maintenance of a harmonious household. Women, through a good
Christian upbringing, would have their performances scripted
for them. Moreover, that performance organized the other
social relations of the household.
Feminine behavior was scripted by not only the household
but also the law. In a series of lectures given in 1845 at
William and Mary College on governmental organization, law
professor N. Beverley Tucker told his audience that women and
men worked symbiotically to form social order:
Is it by chance, or by any necessary consequence of his
sex, that man is bold, hardy, enterprising, contentious,
delighting to struggle with difficulty, delighting in
contests with his fellows, and eager to bear away the
prize of every strife? Woman, on the contrary, timid,
feeble, helpless, shrinks within the domestic sanctuary,
and feels that the great want of her nature is security
for herself and her offspring. This she owes to the
exercise and indulgence of the distinctive powers and
passions of him to whom she looks for protection, while
he, in her trusting helplessness and grateful love, finds
the reward of his toils, the crown of his triumphs and
the consummation of his felicity. (Tucker 295-6)
For Tucker, women's "trusting helplessness and grateful love"
was a necessary component for a just, ordered society because
women's divinely ordained submission justified other forms of
subordination, like slavery. Consequently, women who stepped


66
outside these prescribed bounds threatened the destruction of
social order.
Yet another theorist of Southern society, George
Fitzhugh, also advocated the necessary "weakness" of women.
In Sociology for the South. Fitzhugh denounced the push for
women's rights in the North as "socialist" and dangerous.
Connecting the agitators for women's rights to a larger
conspiracy on the part of abolitionists, Fitzhugh prophesied
dire consequences if such a philosophy took hold in society:
"If ever the abolitionists succeed in thoroughly inbuing the
world with their doctrines and opinions, all religion, all
government, all order, will be slowly but surely subverted and
destroyed" (Fitzhugh 206). Fitzhugh held up the South as the
bulwark against such culturally destructive contagions.
In Fitzhugh's mind, the best way to prevent such
potential social upheaval was to make sure that women knew
their place. In no uncertain terms he maps out that place:
Let her exhibit strength and hardihood, and man, her
master, will make her a beast of burden. So long as she
is nervous, fickle, capricious, delicate, diffident and
dependent, man will worship and adore her. Her weakness
is her strength, and her true art is to cultivate and
improve that weakness. (Fitzhugh 214)
Aggressive women would be cut down; weak women would be
"worshipped" and "adored." Fitzhugh agreed with Tucker that
women's weakness implied a legal responsibility on the part of
men to protect, but, for Fitzhugh, "The right to protection
involves the obligation to obey" (214). Fitzhugh concludes
his discussion of women's need to "cultivate" weakness by


67
sternly advising, "Women would do well to disguise strength of
mind or body, if they possess it, if they would retain their
empire" (215-6) Thus, even intelligent and strong women had
to give the appearance of weakness in order to make the social
system of the South work. Women's "empire," their home and
domestic life, was afforded them only through the largese of
an even more imperious powerSouthern men.3
Such enforced performances of femininity were hardly
endemic to the South. However, Anne Goodwyn Jones points out
in Tomorrow Is Another Day that images of Southern womanhood
played a more significant role in organizing Southern culture
than did other ideas of womanhood in other societies:
Unlike [other ideas of womanhood], the southern lady is
at the core of a region's self-definition; the identity
of thg South is contingent in part upon its tradition of
the lady. Secondly, and perhaps for that reason, the
ideal of southern womanhood seems to have lasted longer
than the other ideas. . Not only has it lasted to
the present, but in a third divergence from other womanly
ideals, southern womanhood has from the beginning been
inextricably linked to racial attitudes. Its very
genesis, some say, lay in the minds of guilty
slaveholders who sought an image they could revere
without sacrificing the gains of racial slavery. And
finally, the image itself seems, if not radically
different from, at least an extreme version of the
nineteenth-century lady. For instance, it emphasizes
fragility and helplessness to the point that protecting
the southern lady seems to the southern gentleman both
essential and appealing. And the classaristocratic
that the image of the lady represents receives a stronger
emphasis in the South than elsewhere. (A. Jones 4-5)
In all these ways, the construct of Southern womanhood
interlocked with the traditions upon which the idea of a
separate Southern nation was based. If Southern men were the
actual warriors of secession, Southern women were expected to


68
form a kind of soldiery as wella collective "body" that
energized men through their passivity and weakness. The
aristocratic leaning of this idea of Southern womanhood helped
bridge the class gap among the soldiers, for even the lowest
class white man could show his honor through service to the
nation.
The War's Changing Script
Certainly most women feared the consequences of war and
did not happily send their men to fight. But many men,
anxious to prove their mettle on the battlefield, constructed
an idea of the Southern matron that not only justified the war
but indeed coerced men who were wavering to fight. Elizabeth
Avery Meriwether recalled her trepidation when her husband
Minor was called to duty: "He was dressed in grey, a leather
belt girded his waist, two pistols were stuck in the belt; he
looked very brave and very handsome, but he was going to war!
And the terrible fear came to me that I was never to see him
again!" (62). Elizabeth Meriwether made the mistake of
looking through the uniform (and the constructions it implied:
soldier, nation) to see her husband. Minor Meriwether, upon
hearing his wife's fears, tried to redirect her thinking about
the task he was about to undertake:
"If I listened to you," he said, "If I stayed
at home like a woman you wouldn't love me. You
couldn't love a coward. I must go. And you
needn't worry. I shall come back. You have our
two boys to comfort you. Be brave. Remember, I am


69
going to fight for you and for the South that we
both love so dearly." (63)
Minor Meriwether makes his wife the excuse for his going to
war. He dictates to her how she should feel: "If I stayed at
home like a woman you wouldn't love me. You couldn't love a
coward." He must fight, he tells her, because she tacitly
demands that he do so. Also, he conflates his wife and the
South in the final sentence, and in so doing he literally
makes his wife embody the Southern nation. He judges that it
is his duty to fight because, in their "weakness," women could
not defend themselves.
Minor Meriwether appropriates to himself the capacity to
"know" what his wife thinks and feels. Though Elizabeth
Meriwether seems more than willing to allow her husband to
remain at home, she is told that she should demand that he not
act "like a woman," i.e., weak and cowardly. What Minor
Meriwether attempted on a personal level Confederate
propagandists tried on a grander scale. As the "weaker" sex,
women were entitled and encouraged to demand protection from
men. As an example, one popular poem, "Wouldst Thou Have Me
Love Thee," written by one Alex B. Meek, featured a female
narrator exhorting her lover to the fight:
Listen! now her trumpet's calling
On her sons to meet the foe!
Woman's heart is soft and tender,
But 'tis proud and faithful too:
Shall she be her land's defender?
Lover! Soldier! up and do! (Simms 61)


70
Unlike Elizabeth Meriwether, this narrator does not fear the
death of her lover. In fact, she sees such a possibility, in
the service of the nation, as honorable:
Should the God who smiles above thee,
Doom thee to a soldier's grave,
Hearts will break, but fame will love thee,
Canonized among the brave!
Listen, then! thy country's calling
On her sons to meet the foe!
Rather would I view thee lying
On the last red field of strife,
'Mid thy country's heroes dying,
Than become a dastard's wife! (Simms 62)
The poem's narrator gives voice to the "country's calling,"
simultaneously denying herself any expression of anxiety for
the safety of her lover. In fact, the narrator invokes "thy
country" twice in the stanza, adding to the impression that
she in fact speaks more as a Confederate propagandist than as
a concerned wife like Elizabeth Meriwether. Given the
definition circulated by such propaganda, women had to "B.
Meek." Yet the narrator of the poem asserts her weakness
definitively. The rhetoric of the poem does not comport with
the message.
In fact, this tension between Southern women's weakness
and the vociferousness with which these same women demanded
that their men serve the Confederate cause appeared in a great
deal of pro-secession propaganda. Women used the assumption
of their own weakness to shame reluctant men into joining the
army. One young woman sent her fiancee one of her hoop skirts
with a note which proclaimed, "Wear these or volunteer"
(quoted in Wiley, Confederate Women, 142). A group of women


71
in Vicksburg, Mississippi, grew tired of young men who
remained in the so-called "Home Guard" rather than joining the
war at the front. These women posted bulletins around town
questioning the honor of such men:
To Arms! To Arms!There will be a meeting of the
young ladies of Warren County, to be held at Bovina on
Thursday, 18th (of June, 1861) for the purpose of
forming themselves into a Home Guard, for the protection
of those young men who will not volunteer for the
country's cause. (Rebellion Record. II, 57r)
In various ways, different women became de facto agents of the
Confederate nation. Their apparent transgressions of specific
gender roles were tolerated and even encouraged because their
ridicule reinforced the ideological necessities of the nation.
Implicit in their ridicule of men was a confirmation of
womanly weakness.
The paradox between the sentiments women were expected to
express and the social space they were expected to occupy
merely reflected the larger paradoxes of the construction of
Southern womanhood. For instance, white Southern women were
thought to be moral exemplars: "More than just a fragile
flower, the image of the southern lady represents her
culture's idea of religious, moral, sexual, racial, and social
perfection" (A. Jones 9). Yet, as Sara Evans has noted, these
examples had no real social relevance given Southern women's
restricted social mobility: "Ultimately it made no sense to
place women in charge of piety and morality and then deny them
access to the public sphere where immorality held sway" (S.
Evans 26). In other words, the lack of an effective public


72
voice limited Southern women to an ineffectual role as
idealized object. The women who speak out against loafers do
the work of the nation. Their ridicule is effective only to
the extent that they are understood as weak. The women in
Vicksburg are permitted to invert gender conventions only to
show how "those young men who will not volunteer for the
country's cause" do not abide by the socially prescribed
gender role for Southern men. In short, their supposed
transgression only works to reinforce the conventions they are
seemingly flouting.
More frequently, stories about faithful, silent
Confederate women were widely circulated as the Civil War
began. Appearing in news reports, poems, popular songs, and
elsewhere, these women became models for female behavior in
the new nation. A typical example of the expected hardihood
of Southern women appeared in the April 16, 1861 issue of the
adline A Home Scene":
She cheered him with pleasant earnestness to show
himself a man, and running on in a gleeful strain,
admonished him not to come back if he were shot in the
back. With incredible fortitude, she bade her child tell
papa good-bye, and to say to him that she would not own
him her father if he proved to be a coward. The echo of
the soldier's footfall through the corridor had hardly
died away, when a ghastly pallor was seen spreading over
the lady's face. In a voice weak and husky she begged a
friend to take her child, and before she could be
supported she fell from her chair prostrate on the floor.
By a tremendous effort the noble woman had
controlled her feelings; but nature could bear no longer,
and she fainted. The swoon was deep, and it was some
time before consciousness returned. At length she opened
her eyes languidly, and looked around upon the
sympathizing group, and in a tremendous tone inquired "if


73
she had fainted before her husband left the room."
(Rebellion Record. I, 44)
This unnamed woman speaks only what the nation needs and wants
her to speak. She demands that her husband behave in a
"manly" way, urging him, somewhat ironically, "not to come
back if he were shot in the back." The news report lauds her
own "incredible fortitude." Despite her own clear misgivings,
this woman does her duty to the nation by urging her husband
to fight.
Even with these "faithful" women, however, ambivalence
about duty seeps through. For example, a poem entitled
"Enlisted Today" which appeared in early 1862 told the story
of a Southern mother who, when appealed to by her son,
consents to his going to war. Nevertheless, her anxiety is
clear:
I smiled on the boy, though my heart it seemed
breaking,
My eyes filled with tears, so I turned them away,
And answered him, "Willie, 'tis well you are
waking
Go, act as your father would bid you, to-day!"
(Simms 64)
As with the faithful wife of "A Home Scene," this mother feels
compelled to hide her true feelings. She urges her son to
follow the "manly" examplehis father. After her son
departs, the narrator continues to try and quash her own
feelings:
I sit in the window, and see the flags flying,
And drearily list to the roll of the drum,
And smother the pain in my heart that is trying,
And bid all the fears in my bosom be dumb.


74
The "flags," the symbol of the nation, compete with the
narrator's anxiety. The narrator resembles Elizabeth
Meriwether, who also felt fear. Yet, while the poem expresses
this mother's fear, it also provides the model of appropriate
female decorumfeeling fear is understandable, expressing
fear is not. By tacitly allowing that Southern men had a more
pressing duty to the nation than to them, women not only
coerced reluctant men into fighting but also participated in
their own disempowerment. Part of what made examples like the
wife in Charleston or the mother in "Enlisted Today"
praiseworthy was the refusal of these women to give direct
voice to their concerns. These and many other women
throughout the Confederacy had been convinced that their
patriotic duty required silence.4
Because women were not granted the right or the space to
articulate their desires (indeed, they were encouraged to
remain silent), they succumbed to the desires offered as
"moral"the desires of the nation-builders. In the words of
Luce Irigaray, Confederate women were employed and implored to
"mimic" a language that they had not produced: the language of
nation.5 Drew Gilpin Faust has persuasively argued that the
drive to nationhood dramatically revised women's role:
The nineteenth-century creed of domesticity had long
urged self-denial and service to others as central to
woman's mission. But war necessitated significant
alterations, even perversions, of this system of meaning;
women's self-sacrifice for personally significant others-
-husbands, brothers, sons, familywas transformed into
sacrifice of those individuals to an abstract and
intangible "Cause." (178, author's emphasis)


75
At least initially, women willingly went along with the
required sacrifice.
As the war began, hopes were high in the Confederacy that
the battle would be a short one. "We have but one motto
Determination," wrote Leora Sims of Columbia, South Carolina,
to a school friend in a letter dated November 14, 1861. "I do
not think this war will last long," she added, "but you know
I am always looking on the bright side" (K. Jones 70) As it
turned out, Sims and others were overly optimistic, and as the
war dragged on, women at the homefront were subjected to more
and more deprivation. Yet, in the early years of the war,
this deprivation became a badge of honor for women.
Shortages of basic staples plagued the Confederacy as
early as the end of 1861. With the Union blockade of most
major Southern ports, conditions got progressively worse.
Basic foodstuffs like coffee, sugar, and butter became harder
and harder to get, and if they were available at all, the
prices for such goods were often prohibitive. Still, in the
early years of the war, morale seemed unaffected, at least to
many people recording their observations. Emma Holmes noted
on May 2, 1861, that in her hometown of Charleston, South
Carolina, "we cannot get [Northern] Goshen butter, upon which
we depend generally, the little in the city being sold at 75
cents per lb. & fresh butter has also risen to 50 cents in
consequence of the high price of hay" (Marszalek 43). Despite
the shortage, Holmes noted people's general good humor: "So


76
every body [sic] has determined to give it up as a luxury we
cannot afford & are willing to do without. It has become
quite a subject of amusement to us" (43).
At the other end of the Confederacy, in Louisiana, Kate
Stone reported similar shortages. But as with the
Charlestonians that Emma Holmes had written about, Stone and
her family accepted their newly imposed diet as another
exigency of the war:
It seems odd to be expecting company and no flour or any
"broughten" delicacy to regale them on, but we have been
on a strict "war footing" for some timecornbread and
home-raised meal, milk and butter, tea once a day, and
coffee never. A year ago, we would have considered it
impossible to get on for a day without the things that we
have been doing without for months. (Anderson 109)
Despite the shortages, Stone reported that most people still
kept their spirits up: "Knowing there is no help for it makes
one content."
The well-to-do had to forego luxuries like new and
fashionable clothing. Kate Stone noted that people in her
community worried very little about the way they dressed.
"Fashion is an obsolete word and just to be decently clad is
all we expect," she reported in a diary entry dated May 22,
1862 (Anderson 109).
"Fashion," in fact, took on a rather negative connotation
in the Confederacy. Songs and poems celebrating the
simplicity of Southern women's dress proliferated, functioning
as a rallying cry in support of the fledgling nation. Perhaps
the most famous song of this genre was "The Homespun Dress,"


77
which directly remarked upon women's contributions to the
Confederate war effort:
My homespun dress is plain, I know;
My hat's palmetto, too.
But then it shows what Southern girls
For Southern rights will do.
We send the bravest of our land
To battle with the foe;
And we will lend a helping hand
We love the South, you know. (I. Silber 68)
Though the song acknowledges that men were doing the actual
fighting, it also provides an avenue of controlled political
action for women. Through the sacrifice of personal vanity,
Southern women could lend "a helping hand." Curiously,
whereas the fight for a Southern nation provided men with
opportunity of expansion and "manliness," that same fight
demanded self-contraction and submission from Southern women.
Around the Confederacy, women were called upon to
demonstrate their loyalty to the Confederacy through the
relinquishment of valuable, fashionable items. A typical
example of such a call appeared in a letter to the editor of
a newspaper in Tupelo, Mississippi. Local resident James H.
Gallard announced on March 29, 1862, that a group of women had
organized themselves into a soldiers' aid society. Their most
recent gathering had produced, in Gallard's estimation, a most
ingenious plan:
At their last meeting they resolved to give their
jewelry, their gold and silver plate to the Confederacy,
and to make an earnest appeal to all the ladies in our
country to do the same, for the purpose of purchasing or
assisting to purchase a navy for the Confederacy.
fRebellion Record, IV, 98)


78
Gallard felt so strongly about his proposition that he urged
the editor to suggest to President Davis "to call upon all the
ladies in the Confederacy to present their jewelry and their
gold and silver plate, as a free-will offering upon the altar
of their bleeding country" (98) .
Though few records exist to suggest that many women
actually did contribute their valuables to the cause of the
Confederacy, "fashion" became a kind of measuring stick to
judge who was and wasn't taking seriously their part in the
war. With this anti-fashion mentality arose a set of
disciplines that those on the homefront were expected to
observe. Women who participated in unseemly entertainments
were severely chastized. For example, an anonymously
published poem entitled "Is This a Time to Dance?" roundly
criticized women who put personal pleasure ahead of the
interests of the Confederacy. In the poem's most graphic
stanza, the narrator ridicules the oblivious:
Oh, lift your festal robes on high!
The human gore that flows around
Will stain their hues with crimson dye;
And louder let your music sound
To drown the dying warrior's cry!
Let sparkling wine your joy enhance,
Forget that blood has tinged its dye,
And quicker urge the maniac dance. (Simms 394)
One of the most widely-read manuals on expected female
behavior was actually a novelAugusta Jane Evans's Macaria.
Published in early 1864, Macaria sought to reinvigorate
Southern nationalism by offering portraits of two Confederate
women passionately committed to the cause. Elizabeth Moss


79
notes that Evans threw herself into the production of Macaria
as her personal effort at revitalizing the sagging morale of
the Confederacy:
Repeatedly and relentlessly Evans struggled to
imprint the ideal of sacrifice and service upon the
hearts and minds of her readers enjoining men and women
throughout the South to follow her example and answer the
call of their country. Drawing upon her extensive
reading and correspondence, she patiently rehearsed the
ideological foundations of the sectional crisis, phrasing
her argument in words and images designed to reach the
broadest possible audience. (Moss 190)
Evans herself corresponded with many prominent Confederate
politicians and generals; in fact, many details about battles
are culled from General P. G. T. Beauregard's field notes.
Moreover, Evans herself toured battlefields and worked in army
hospitals comforting the wounded. Macaria was the synthesis
of Evans's various experiences, with an unequivocal pro-
Confederate slant.6
The novel's subtitle, Altars of Sacrifice, tellingly
exposes Evans's belief in what the duty of Confederate women
truly was. The novel is rife with propagandistic speeches
which in no uncertain terms show women sacrificing their men
and their way of life for the Southern nation. A typical
example of such a speech occurs late in the novel, when Mrs.
Baker, a poor yeoman farmer's wife, tells her story to the
main character in the book, Irene Huntingdon:
Every man has to do his duty now, and every woman, too.
I told Stephen I thought I could take care of the
children and myselfthat I would rather live on acorns,
than that he should not serve his country when it needed
him; and I told Robert, when I fixed him off, that I
never would die contented if he and his father did not


80
both do something to distinguish themselves in this war.
(Evans 312)
Mrs. Baker's comments do the ideological work of the state, as
she encourages her husband and son not only to go to war but
also to "do something to distinguish themselves." Mrs. Baker
does not give voice to any doubts. She sees her duty clearly,
as she tells Irene: "I have no money to lend our government,
but I give my husband and my childand two better soldiers no
state can show" (312).
Irene and her cousin Electra Grey follow Mrs. Baker's
lead in bearing the pain and anxiety caused by the Confederate
"revolution" with resolute indifference. Though her father
and her fiancee are killed in battle, Irene tells Electra (and
the reading audience) that their deaths were not in vain:
Electra, national, like individual life, which is not
noble, free, and honorable, is not worth the living. A
people who can survive their liberty, are beneath
contempt; and to-day, desolate though I am, I would
sooner take my place by my father's side, than recall him
to live a subject of despotic government at Washington.
(365)
Irene's conflation of "national" and "individual" life
underscores the key theme of the novelindividuality was
permissible only insofar as it accrued to the benefit of the
nation. Expressions of individuality had to be expressions of
nationality. Patriotic Confederates on the homefront, those
"debarred from the 'tented-field,'" as Irene calls the
warfront, had to accept the nation as the organizing principle
of their lives, just as Confederate soldiers had.


81
Evans drives home this point in one of the final scenes
of the novel. Irene has encouraged Electra, who is a painter,
to construct "frescoes of some of the most impressive scenes
of our Revolution." Electra responds by painting a large
allegory featuring two women:
One stern, yet noble-featured, crowned with stars
triumph and exultation flashing in the luminous eyes;
Independence, crimson-mantled, grasping the Confederate
Banner of the Cross, who victorious streamed above a
captured battery, where a Federal flag trailed in the
dust. At her side stood white-robed, angelic Peace, with
one hand over the touchhole of the cannon against which
she leaned, and the other extended in benediction.
Vividly the faces contrastedone all athrob with
national pride, beaming with brilliant destiny; the other
wonderfully serene and holy. (411)
The two women in the fresco take their form from Irene (the
passionate patriot) and Electra (the cool-headed artist).
Electra's fresco parallels Evans's novel. Just as Electra
places herself and Irene in her work of art in order to convey
her faith in the Confederacy, Evans also employs Electra and
Irene to tell her story. Evans, in fact, inserts herself into
the novel with both Irene and Electra, each possessing
elements of Evans's own personalitythe passionate patriot
and the cool-headed artist. Evans's metanarrative speaks not
only to the artistic process and her hoped-for result but also
to her own commitment to Confederate nationalism. She wrote
of the novel's embodiment of her patriotism to publisher J. C.
Derby: "Scribbled in pencil while sitting up with the sick
soldiers in the hospital attached to 'Camp Beulah,' my very
heart beat in its pages, coarse and brown though the dear old


82
Confederate paper was" (quoted in Moss, 181). Macaria was not
just Evans's thoughts on secession and the responsibilities of
citizens to the nation. It was, in some sense, Evans herself,
except that Evans the woman was muted in favor of Evans the
embodiment of Confederate nationalism.7
Evans's advocacy of Confederate patriotism proved quite
effective in some circles. In fact, as Elizabeth Moss
reports, "At least one Union general was forced to ban the
book among his troops, and several southerners later claimed
that the novel saved their lives by deflecting bullets or
bayonets" (183). Despite these effects, the onslaught of war
overrode nationalistic feeling in many parts of the
Confederacy. The vehemence with which Evans advocated her
idea of nationalism revealed the deeply unsettling way in
which the war had impacted on the Southern homefront.
As Union forces made headway on several fronts, the
boundary between the dangers of the battlefield and the
relative safety of the homefront disintegrated. By extension,
the neat divisions between male and female spheres collapsed
as well. Confederate women found that the battle for Southern
independence was being carried directly to them. Union
successes cut off food supplies, so women faced the prospect
of having their families starve. More directly, Union
military leaders began a calculated attack on the honor of
Confederate women by calling into question the sexual dynamics
of Confederate nationalism.


83
In April 1862, the Confederacy's chief seaport and
largest city, New Orleans, fell to Union forces. The Union
commander, General Benjamin Butler, tired of the protests and
rudeness of the local women. To curb these indiscretions,
Butler issued Order No. 28, deemed the "woman order," which
hinted that women would no longer be spared harsh treatment
merely because of their gender:
As officers and soldiers of the United States have been
subject to repeated insults from women, calling
themselves ladies, of New Orleans in return for the most
scrupulous non-interference and courtesy on our part, it
is ordered hereafter, when any female shall, by mere
gesture or movement, insult, or show contempt for any
officers or soldiers of the United States, she shall be
regarded and held liable to be treated as a woman about
the town plying her vocation. (quoted in Anderson, 111)
Perceived in the most benign way, Butler's order clearly
challenged the honor and respectability of the women of New
Orleans. It conflated the expression of Confederate
nationalism and sexual deviance by comparing vociferous women,
"calling themselves ladies," to prostitutes. But some saw a
more sinister undertone to the order. Kate Stone, living
upriver in northeastern Louisiana, viewed Order No. 28 as a
license to Union soldiers to rape and pillage: "It is but
carrying out the battle cry 'Bounty and Beauty' with which
they started for New Orleans. May [Butler] not long pollute
the soil of Louisiana" (Anderson 111). What Butler's order
clearly did attempt was the regulation of the bodies of the
women of New Orleans. Punishment could be triggered "by mere
gesture or movement, insult, or show [of] contempt for any


84
officers or soldiers of the United States." The possibility
of arrest or sexual violation loomed as the methodology by
which Butler sought to restore order.
These attacks produced two debilitating effects. First,
Union attacks on Confederate women continually emphasized the
utter impotence of Confederate men, who had claimed such a
supertorian George Rabie notes, "Women soon came to realize
their defencelessness against an invading army, and although
few said so explicitly, the truth was that Southern men could
no longer protect their homes and families. In other words,
they were no longer men" (Rabie 137). In the vacuum left by
the retreat of Southern men, Southern women took up their own
defense. As male authority proved more and more hollow,
injunctions against women speaking out weakened, producing a
second problem for Confederate leaders. Most women did not
speak out against gender inequality; rather, the different
outbreaks of women's vociferousness reflected a protest
against the broken bargain that was the Confederate nation.
Women had been asked to inhabit the role of potential victim,
with the assurance that their menfolk would never allow that
role to beio-economic backgrounds, asked in different ways
that their bargain with the nation-builders be honored or that
the war and all of the chaos it had created be ended.
The defeat shocked and dismayed people throughout the
Southern nation. Judith McGuire of Richmond, Virginia,
recorded in a diary entry dated April 27, 1862, "Oh, it is so


85
hard to see the enemy making such inroads into the heart of
our country! it makes the chicken-hearted men and women
despondent, but to the true and brave it gives fresh stimulus
for exertion" (108). Even the usually sanguine South
Carolinian Mary Chesnut viewed the loss of New Orleans as
catastrophic for the Confederacy. Writing in her diary on the
same day as her countrywoman Judith McGuire, Chesnut placed
the blame for the defeat squarely on the government:
New Orleans goneand with it the Confederacy. Are
we not cut in two? That Mississippi ruins us if lost.
The Confederacy done to death by the politicians. What
wonder we are lost. Those wretched creatures the
Congress and the legislature could never rise to the
greatness of the occasion. (Woodward 330)
Chesnut's outrage with political leadership of the
Confederacy reflected the first signs of doubt as to the
capacity of Southern men. In New Orleans itself, that doubt
took the form of angry recriminations against military leaders
by many women. The most vocal critic, Julia LeGrand,
lambasted the tactics of Confederate General Mansfield Lovell
in a journal entry dated May 9, 1862. LeGrand speculated that
as the Union invasion began, General Lovell was either drunk
or paralyzed with fear. In any event, she identified only one
group of people who kept their heads: "The women only did not
seem afraid. They were all in favor of resistance, no matter
how hopeless that resistance might be" (K. Jones 125).
LeGrand did not confine her criticisms of the Confederate
defense force to just her journal. In this same journal


86
entry, she admitted to hounding some local men whom she saw
loafing around town after the invasion:
The ladies of the town signed a paper, praying that
[New Orleans] should never be given up. We went down to
put our names on the list, and met the marines marching
up to the City Hall with their cannon in front of them.
The blood boiled in my veinsI felt no fearonly anger.
I forgot myself and called out several times: "Gentlemen,
don't let the State Flag come down," and "Oh, how can you
men stand it?" (K. Jones 126)
LeGrand's public questioning of the courage of Southern men
flew in the face of the rhetoric of Southern male honor. Vet
her public outburst was not an isolated occurrence as the
Union occupation took firmer hold. "If the men had half the
spunk which the women had," one local woman asserted to a
visitor from England, "New Orleans would soon be ours again"
(quoted in Rabie, 138).
Left to their own devices, Confederate women in and
around New Orleans continued their defiance. Still, having
for so long been denied public voices, many women had
difficulty in expressing their anger. Sarah Morgan of Baton
Rouge, one of the most lucid and eloquent diarists of the
Civil War period, breathed fire about Butler's order and the
Union invasion force arriving in her hometown in a diary entry
dated May 9, 1862:
Our lawful (?) owners have at last arrived. About
sunset day before yesterday, the Troquois anchored here,
and a graceful young Federal stepped ashore, carrying a
Yankee flag over his shoulder, and asked the way to the
Mayor's office. I like the style! If we girls of B. R.
had been at the landing instead of the men, that Yankee
should never have insulted us by flying his flag in our
faces! We would have opposed his landing except under a
flag of truce; but the men let him alone, and he even


87
found a poor Dutchman willing to show him the road!
(East 63-4)
Morgan's anger at the laxity of the men of Baton Rouge mirrors
Julia LeGrand's anger at the men of New Orleans. Morgan
rejected the orders of "Picayune Butler" prohibiting the
display of the Confederate flag. Vowing to wear one pinned to
the bosom of her dress, she proclaimed, "the man who says take
it off, will have to pull it off for himself; the man who
dares attempt itwell! a pistol in my pocket will fill up the
gap. I am capable, too" (East 64-5)
Despite Morgan's bluster, a diary entry two days later
reveals that the Yankees holding siege in Baton Rouge
confounded Confederate rhetoric about Northern men and, in the
process, caused Morgan to feel ambivalent about her protest.
She begins the entry by admitting, "II am disgusted with
myself." Having gone into town with friends and with her
Confederate flag affixed to her dress, Morgan encountered a
group of Union soldiers being harassed by some locals. This
unexpected encounter with the enemy produced the self-disgust:
I had not expected to meet them, and felt a painful
conviction that I was unnecessarily attracting attention
by an unladylike display of defiance, from the crowd
gathered there. But what was I to do? I felt
humiliated, conspicuous, everything that is painful and
disagreeable; butstrike my colors in the face of an
enemy? Never. (East 68)
Morgan's disgust with her "unladylike display of defiance"
derives largely from her recognition of the civility of
Federal officers: "Fine, noble looking men they were, showing
refinement and gentlemanly bearing in every motion; one cannot


88
help but admire such foes" (68) The "nobility" and
"gentlemanly" nature of the Union officers contrasts not only
with the undignified behavior of the residents of Baton Rouge
(including her own) but also with the supposition that
Northern men were somehow lacking.
Morgan earned the enmity of her fellow residents by her
admiration of the "conquerors." In a journal entry dated May
14, 1862, three days after her encounter with the
"gentlemanly" officers in downtown Baton Rouge, Morgan
admitted that certain locals were questioning her family's
loyalty. Still, she felt that the honor of Southerners
required respect for the Union troops:
Shall I acknowledge that the people we so recently called
our brothers are unworthy of consideration, and are
liars, cowards, dogs? Not I! If they conquer us, I
acknowledge them as a superior race; I will not say we
were conquered by cowards, for where would that place us?
It will take a brave people to gain us, and that the
Northerners undoubtedly are. I would scorn to have an
inferior foe; I fight only my equals. These women may
acknowledge that cowards have won battles in which their
brothers were engaged, but I, I will ever say mine fought
against brave men, and won the day. Which is most
honorable? (East 73)
This entry shows how, with defeat, Confederate women had to
readjust their belief in their men's honor and superiority.
Secessionist rhetoric posited a seemingly natural superiority
for Southern men. The invading Yankees invalidated that
premise, so Morgan links the honor of Southern men to the
bravery of their opponents. Northern men are, for Morgan,
"superior," "brave," and "equals." Yet, Morgan's logic
(clearly a minority view in Baton Rouge) undermines one of the


89
rhetorical premises justifying a separate Southern nation. As
Southern men, the direct embodiment of the Confederacy, proved
unable to overcome their Northern foes, the women of the
Confederacy began to doubt the wisdom of loyalty to a nation
built upon such unstable premises.
A year after the fall of New Orleans, at the other end of
the Confederacy, the women of Richmond found themselves
battling a foe different from invading Yankeeshunger. Union
war successes, particularly the naval blockade, and
unscrupulous merchants who engaged in price-gouging had
contributed to widespread shortages of basic foodstuffs. All
around the Confederacy, signs of unrest percolated to the
surface. In Bladen County, North Carolina, a group of women
sent Governor Zebulon Vance a letter on February 18, 1863, in
which they threatened violence if their food needs weren't
adequately supplied:
[W]e hoos sons brothers & husbands is now fighting for
the big mans negros are determd to have bredd out of
these barns & that at a price that we can pay or we will
slaughter as we go. (Yearns and Barrett 218-9)
The inability of the Confederate government to relieve the
suffering of its citizens and to control black marketeers only
exacerbated the class fissures that Southern nationalism had
initially hnd successfully smoothed over. These women, and
many others around the Confederacy, now perceived that their
enemies included more than just the invading Union soldiers.
Enemies within the Confederacy itself also reared their heads.


90
So-called "bread riots" actually took place in many
cities in the Confederacy. On March 18, 1863, a riot took
place in Salisbury, North Carolina, which the local newspaper
called "one of the gayest and liveliest scenes of the age"
(Yearns and Barrett 219). According to the account published
in the Carol ina Watchman. a group of women, "some 50 or 75 in
number, with axes and hatchets," moved from store to store
looking for flour and salt. One of their reported encounters
with a local merchant typifies the results of their "riot":
They then met a gentleman on the street who they had
been told, had salt, on which, they said he intended to
speculate. He assured them most positively that such was
not the case; that it was sent to him to sell. They
insisted on having a bag. He . said rather than have
the salt impressed, he would make them a present of a bag
and a twenty dollar Confederate note. (Yearns and
Barrett 220)
The more success that the women met with, the more voracious
their appetite became. The riot was apparently allowed to run
its course. The reporter on the scene noted that, at their
last stop, "[The women] took ten barrels [of flour], and
rolled them out and were setting on them, when I left, waiting
for a wagon to haul them away" (Yearns and Barrett 220).
Though the reporter for the Watchman chose to treat the
Salisbury riot comically, other instances were not perceived
as funny by the people who witnessed them. The bread riot in
Richmond on April 2, 1863, drew the most national notice. A
disturbance in the nation's capital, participated in by
President Davis himself and put down by a regiment of
soldiers, further called into question the viability of the


91
Confederate nation. The riot also marked the first organized
protest of national significance by Confederate women. Though
some details of the disturbance remain in dispute, what seems
clear is that a group of women tried to meet with Governor
John Letcher on the morning of April 2 to express their
concerns. Getting no satisfaction through official channels,
a number of women, perhaps over a thousand (Chesson 138) ,
began to break into shops along Cary Street in downtown
Richmond. Confederate war clerk John Beaucamp Jones noted
seeing "a few hundred women and boys" outside his office
shortly after 9 a.m.:
I did not follow, to see what they did; but I learned an
hour after that they marched through Cary Street, and
entered diverse stores of the speculators, which they
proceeded to empty of their contents. They impressed all
the carts and drays in the street, which were speedily
laden with meal, flour, shoes, etc. I did not learn
whither these were driven; but probably they were rescued
from those in charge of them. Nevertheless, an immense
amount of provisions, and other articles, were borne by
the mob, which continued to increase in numbers. (285)
Others on the scene noted that the women working their
way through the streets were prepared for resistance. Dr. J.
W. Anderson recalled that the women were armed with "rusty old
horse pistols, . clubs, . knives, and many carried
bayonets in their belts, and specimens of those huge old home
made knives with which our soldiers were wont to load
themselves down in the first part of the war" (quoted in
Chesson, 144). In its report of the riot, the New York Herald
suggested that violence, though spotty, had occurred:


92
A few individuals attempted to resist the women, but
without success. One man who struck a female was wounded
in the shoulder by a shot from a revolver, and the
threatening attitude of those armed with hatchets, etc.
intimidated others from attempting force. (Rebel 1ion
Record. VI, 523)
The intensity of the women's assault overwhelmed the city
police. The governor called out the Public Guard and,
according to most accounts, gave the rioters five minutes to
disperse or risk being fired upon.
Order was not completely restored until Jefferson Davis
himself appeared on the scene and pleaded with the crowd. The
riot ended roughly two hours after it began. The police
arrested forty-four women and twenty-nine men for their part
in the disturbance (Chesson 155). According to John Beaucamp
Jones, writing in his diary the following day, "The mob
visited most of the shops, and the pillage was pretty
extensive" (286).
Davis's presence at the scene underscored what a serious
political threat the riot constituted. Many people in and
around Richmond sympathized with the plight of the rioters.
North Carolinian Sara Pryor received a letter from a friend in
Richmond which described an encounter with a young woman on
the street as the riot commenced:
The girl turned to me with a wan smile, and as she
rose to join the long line that had now formed and was
moving, she said simply, "Good-by! I'm going to get
something to eat!"
"And I devoutly hope you'll get itand plenty of
it," I told her. (Pryor 238-9)


93
John Beauc.imp Jones had a remarkably similar encounter at
roughly the same moment:
A young woman, seemingly emaciated, but yet with a smile,
answered that they were going to find something to eat.
I could not, for the life of me, refrain from expressing
the hope that they might be successful; and I remarked
they were going in the right direction to find plenty in
the hands of the extortioners. (285)
Even Judith McGuire, a strong Confederate partisan, understood
the motivation behind the disturbance. "Oh that these hard
hearted creatures [speculators] could be made to suffer!" she
wrote in her diary on the day of the riot. "Strange that men
with human hearts can, in these dreadful times, thus grind the
poor" (203).
Of course, not everybody took such a sympathetic view.
Richmond native Sallie A. Putnam characterized the women
involved as "lawless viragoes" and described the riot itself
as inspired not by the hunger of the women but by the greed of
pirates:
More impudent and defiant robberies were never committed,
than disgraced, in the open light of day, on a bright
morning in spring, the city of Richmond. The cry for
bread with which this violence commenced was soon
subdued, and instead of articles of food, the rioters
directed their efforts to stores containing dry-goods,
shoes, etc. (208-9)
Racism and jingoism entered into Putnam's thinking as well.
In her judgment, the unsavory behavior of the rioters could be
explained by the fact that they were "a heterogeneous crowd of
Dutch, Irish, and free negroes" (208) .
The "heterogeneity" of the crowd provided a logic that
Confederate propagandists used to diffuse questions about the


94
Southern nation. In its April 4 editorial, the Richmond
Examiner described the rioters as "A handful of prostitutes,
professional thieves, Irish and Yankee hags, [and] gallows-
birds from all lands but our own." The editors conflated
those outside the law ("prostitutes," "professional thieves")
with those from outside the Confederacy to argue that the riot
in Richmond, as well as the riots in Salisbury and elsewhere,
were the result of a Union conspiracy:
It is impossible to doubt that the concealed instigators
in each case were the same. Having done the work in one
city, they took the cars to the next. That they are
emissaries of the Federal Government, it is equally
difficult to doubt. (Richmond Examiner, April 4, 1863)
The conspiracy theory hatched by the editors of the Examiner
was an effort to reinstate the basic dictates of behavior for
Confederate women. By positing the "enemy" as originating
outside the Southern nation, that is, as "emissaries of the
Federal Government," as well as in the lower classes, the
Examiner tried to create an image of national harmony being
disrupted by "others." The oppositional rhetoric of
Confederate/non-Confederate once again announced clearly what
the nation expected of its women. The Confederacy needed
docile female bodies as much as it needed "heroic" male bodies
to maintain its fictions, and the Examiner editorial worked to
redefine the limits of appropriate Confederate women's
behavior.
Historian Michael B. Chesson has argued that the Richmond
bread riot was not a spontaneous response to dire economic


Full Text
xml version 1.0 encoding UTF-8
REPORT xmlns http:www.fcla.edudlsmddaitss xmlns:xsi http:www.w3.org2001XMLSchema-instance xsi:schemaLocation http:www.fcla.edudlsmddaitssdaitssReport.xsd
INGEST IEID EUZ4BUGLP_M27U5Y INGEST_TIME 2014-12-23T19:25:05Z PACKAGE AA00013566_00001
AGREEMENT_INFO ACCOUNT UF PROJECT UFDC
FILES


I certify that I have read this study and that in my
opinion it conforms to acceptable standards of scholarly
presentation and is fully adequate, in scope and quality, as
a dissertation for the degree of Doctor of Philosophy.
I certify that I have read this study and that in my
opinion it conforms to acceptable standards of scholarly
presentation and is fully adegiiSt^, in scope and quality, as
a dissertation for the degree
Anne G.
Associate
Professor
English
I certify that I have read this study and that in my
opinion it conforms to acceptable standards of scholarly
presentation and is fully adequate, in scope and quality, as
a dissertation for the degree of Doctor of Philosophy.
Malini Schueller
Associate Professor of English
I certify that I have read this study and that in my
opinion it conforms to accpetable standards of scholarly
presentation and is fully adequate, in scope and quality, as
a dissertation for the degree of Doctor of Philosophy.
yBro'
Bertram Wyaty Brown
Richard J. Milbauer Professor
of History
This dissertation was submitted to the Graduate Faculty
of the Department of English in the College of Liberal Arts
and Sciences and to the Graduate School and was accepted as
partial fulfillment of the requirements for the degree of
Doctor of Philosophy.
December 1996
Dean, Graduate School


LD
1780
199
ffX.
UNIVERSITY OF FLORIDA
lllllllllllll
3 1262 08554 7635



PAGE 1

7+( 5(f&216758&7,21 2) 1$55$7,9( '(&2/21,=$7,21 $1' 3267%(//80 6287+(51 /,7(5$785( %\ '$9,' : 5866(// $ ',66(57$7,21 35(6(17(' 72 7+( *5$'8$7( 6&+22/ 2) 7+( 81,9(56,7< 2) )/25,'$ ,1 3$57,$/ )8/),//0(17 2) 7+( 5(48,5(0(176 )25 7+( '(*5(( 2) '2&725 2) 3+,/2623+< 81,9(56,7< 2) )/25,'$

PAGE 2

7KLV GLVVHUWDWLRQ LV GHGLFDWHG WR P\ PRWKHU -DQHW 5DH 5XVVHOO D ZRPDQ ZKRVH VDFULILFHV PDGH WKLV ZRUN SRVVLEOH +HU PRGHO RI GHFHQF\ DQG LQWHJULW\ ZLOO VWD\ ZLWK PH DOZD\V DQG DQ\WKLQJ JRRG WKDW ; HYHU GR RU EHFRPH ZLOO EH GXH DOPRVW FRPSOHWHO\ WR KHU

PAGE 3

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f DOO RI ZKLFK JDYH PH D VHQVH RI WKH ZRUWK RI P\ LGHDV DQG WKH FRQILGHQFH WR SXUVXH WKHP )LQDOO\ ZRXOG QRW KDYH D GLVVHUWDWLRQ DW DOO ZLWKRXW WKH WLUHOHVV HIIRUWV RI P\ GLUHFWRU 'DYLG /HYHUHQ] +LV DPD]LQJO\ FDUHIXO UHDGLQJV RFFDVLRQDO LQWHOOHFWXDO EXWW NLFNLQJV SDWLHQFH WKURXJK P\ UDQWLQJV DQG FRPSDVVLRQ WKURXJKRXW KDYH PDGH WKH QH[W FKDSWHU LQ P\ OLIH SRVVLEOH +H KDV DOVR RIIHUHG PH D PRGHO RI LQWHJULW\ DQG GLJQLW\ WKDW FDQ RQO\ ORQJ WR HPXODWH

PAGE 4

7$%/( 2) &217(176 SDJH $&.12:/('*0(176 LLL $%675$&7 9 &+$37(56 ,1752'8&7,21 1RWHV 5+(725,& $1' 7+( '(f&216758&7,21 2) 1$7,21 1RWHV 3(5)250,1* &21)('(5$7( 1$7,21$/,60 :+,7( :20(1n6 5(-(&7,21 2) %2',/< *29(510(17 1RWHV 5(&2148(5,1* 2/' 7(55$,1 3$75,$5&+$/ 5(326,7,21,1* ,1 $8*867$ -$1( (9$16n6 67 (/02 ,OO 1RWHV 7+( *(2*5$3+< 2) 6287+(51 1$7,21$/,60 1RWHV <28 &$1n7 .,// 0( %87 21&( 7+( &+$//(1*( 2) $)5,&$1$0(5,&$1 7(;78$/,7< 1RWHV &21&/86,21 1RWHV :25.6 &,7(' %,2*5$3+,&$/ 6.(7&+ LY

PAGE 5

$EVWUDFW RI 'LVVHUWDWLRQ 3UHVHQWHG WR WKH *UDGXDWH 6FKRRO RI WKH 8QLYHUVLW\ RI )ORULGD LQ 3DUWLDO )XOILOOPHQW RI WKH 5HTXLUHPHQWV IRU WKH 'HJUHH RI 'RFWRU RI 3KLORVRSK\ 7+( 5(f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nV SKUDVH WKHVH ZULWHUV VKDUHG WKH LGHD RI DQ LPDJLQHG FRPPXQLW\ D 6RXWKHUQ QDWLRQ SUHGLFDWHG RQ D FRQWLQXLW\ RI WKRXJKW DQG FXVWRP DPRQJ WKH ZKLWH SHRSOH RI WKH UHJLRQ ,QWHUYHQLQJ LQ WKLV UHFUHDWLRQ RI ZKLWH KHJHPRQ\ ZDV WKH ZULWLQJ RI $IULFDQ $PHULFDQV 7KH GHVLUH IRU GHFRORQL]DWLRQ LV RQH RI WKH SULPH IRUFHV HQHUJL]LQJ WKHVH ILFWLRQV 7KH GULYH WR GHFRORQL]H DOVR LQLWLDWHG DQ DUJXPHQW DERXW MXVW H[DFWO\ ZKDW WKH 6RXWK DQG EHLQJ 6RXWKHUQ PHDQW

PAGE 6

,1752'8&7,21 7KHUH DUH RU VR FRXQWULHV IODJVf LQ WKH ZRUOG EXW PRUH WKDQ QDWLRQV SHRSOHVf ZKR ZDQW WKHLU RZQ FRXQWU\f§WKXV VPDOO ZDUV f§5LFKDUG 5HHYHV :KHUH ZHnYH EHHQ LQ \HDUV *DLQHVYLOOH 6XQ -DQXDU\ 7HOO PRWKHU GLH IRU P\ FRXQWU\ GLG ZKDW WKRXJKW ZDV EHVW f§SXUSRUWHGO\ WKH ODVW ZRUGV RI -RKQ :LONHV %RRWK ,Q D OHFWXUH DW WKH 6RUERQQH LQ KLVWRULDQ (UQHVW 5HQDQ WULHG WR DQVZHU D VLPSO\ IRUPXODWHG \HW FRPSOH[ TXHVWLRQf§:KDW LV D QDWLRQ" 'HI\LQJ JHRJUDSKLFDO GHWHUPLQLVP 5HQDQ DVVHUWHG $ QDWLRQ LV D VSLULWXDO SULQFLSOH WKH RXWFRPH RI WKH SURIRXQG FRPSOLFDWLRQV RI KLVWRU\ LW LV D VSLULWXDO IDPLO\ QRW D JURXS GHWHUPLQHG E\ WKH VKDSH RI WKH HDUWK f $PSOLI\LQJ KLV GLVFXVVLRQ 5HQDQ H[SODLQHG WKDW D QDWLRQ QHHGHG WZR VXSSRUWLQJ SUHPLVHVf§ D EHOLHI LQ D FRPPRQ SDVW DQG WKH GHVLUH WR OLYH WRJHWKHU $ QDWLRQ LV WKHUHIRUH D ODUJHVFDOH VROLGDULW\ FRQVWLWXWHG E\ WKH IHHOLQJ RI WKH VDFULILFHV WKDW RQH KDV PDGH LQ WKH SDVW DQG RI WKRVH WKDW RQH LV SUHSDUHG WR PDNH LQ WKH IXWXUH ,W SUHVXSSRVHV D SDVW LW LV VXPPDUL]HG KRZHYHU LQ WKH SUHVHQW E\ D WDQJLEOH IDFW QDPHO\ FRQVHQW WKH FOHDUO\ H[SUHVVHG GHVLUH WR FRQWLQXH D FRPPRQ OLIH $ QDWLRQnV H[LVWHQFH LV LI \RX ZLOO SDUGRQ WKH PHWDSKRU D GDLO\ SOHELVFLWH MXVW DV DQ LQGLYLGXDOnV H[LVWHQFH LV D SHUSHWXDO DIILUPDWLRQ RI OLIH 5HQDQ f )RU 5HQDQ D QDWLRQ ZDV D VRXO D VSLULWXDO SULQFLSOH ,Q

PAGE 7

GHWDFKLQJ WKH GHILQLWLRQ RI QDWLRQ IURP JHRJUDSK\ 5HQDQ DUJXHG WKDW D QDWLRQ FRXOG H[LVW HYHQ LI LW GLG QRW DSSHDU RQ D PDS RU SRVVHVV D PDWHULDO SUHVHQFH LQ WKH ODQGVFDSH $V ORQJ DV FLWL]HQV FRQWLQXHG WR YRWH IRU LW D QDWLRQ FRXOG OLYH RQ LQ SHUSHWXLW\ 5HQDQ PDGH KLV FDVH WZR GHFDGHV DIWHU WKH &RQIHGHUDWH 6WDWHV RI $PHULFD KDG EHHQ IRUPHG DQG KLV GHILQLWLRQ RI QDWLRQ KDV LPSRUWDQW LPSOLFDWLRQV IRU WKLQNLQJ DERXW WKH SRVWn ZDU &RQIHGHUDF\ +LVWRULDQV DQG VRFLRORJLVWV KDYH ORQJ XQGHUVWRRG WKH VLJQLILFDQFH RI 6RXWKHUQ QDWLRQDOLVP ZKHQ FRQVLGHULQJ WKH SHUVLVWHQW EHOLHI LQ WKH UHJLRQn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f RI 8QLRQ LQYDVLRQ DQG RFFXSDWLRQ WKHVH ZULWHUV ZHUH DEOH WR VHOO D SHUFHSWLRQ RI WKH 6RXWK DQG 6RXWKHUQHUV DV DEXVHG DQG GHIDPHG EXW QRQHWKHOHVV KHURLF &DOOLQJ XSRQ D FRPPRQ UDFLDO KHULWDJH ZLWK 1RUWKHUQ ZKLWHV WKHVH ZULWHUV VXEWO\ EXW HIIHFWLYHO\

PAGE 8

LQWHUMHFWHG WKHPVHOYHV LQWR WKH GHEDWH RYHU EODFN FLYLO ULJKWV D GHEDWH WKDW FXOPLQDWHG ZLWK WKH UHMHFWLRQ RI IHGHUDO SURWHFWLRQV IRU $IULFDQ $PHULFDQV ,QGHHG WKH ILFWLRQV SURGXFHG E\ ZKLWH 6RXWKHUQ ZULWHUV SURYHG VR HIIHFWLYH WKDW LQ 'HFHPEHU QRYHOLVW DQG FLYLO ULJKWV DGYRFDWH $OELRQ : 7RXUJHH SURQRXQFHG $PHULFDQ OLWHUDWXUH QRW RQO\ 6RXWKHUQ LQ W\SH EXW GLVWLQFWO\ &RQIHGHUDWH LQ V\PSDWK\ f DQG 7KRPDV 'L[RQ EDOGO\ RIIHUHG D UHWXUQ WR ZKLWH PDQnV JRYHUQPHQW DORQJ WKH OLQHV RI WKH ROG &RQIHGHUDF\ DV WKH DSSURSULDWH PRGHO RI WK FHQWXU\ $PHULFDQ QDWLRQKRRG 7R EH VXUH WKH UHFRQVROLGDWLRQ RI ZKLWH SRZHU GLG QRW JR XQFKDOOHQJHG 7RXUJHH ZLWK $ )RROV (UUDQG f DQG %ULFNV ZLWKRXW VWUDZ f WULHG WR XQGHUPLQH WKH UHYLVLRQLVW KLVWRULHV RI 6RXWKHUQ ZKLWHV $ PRUH SRZHUIXO FKDOOHQJH RQH WKDW FRQVLGHU LQ &KDSWHU ZDV RIIHUHG E\ $IULFDQ$PHULFDQ ZULWHUV )UDQFHV +DUSHUnV ,ROD /HUR\ f &KDUOHV : &KHVQXWWnV 7KH 0DUURZ RI 7UDGLWLRQ f DQG 6XWWRQ ( *ULJJVnV YDULRXV QRYHOV QRWDEO\ KLV ILUVW ,PRHULXP LQ ,PSHULR f SURYLGHG FRXQWHUKLVWRULHV JLYLQJ YRLFH WR WKH H[SHULHQFHV RI EODFNV LQ WKH SRVWEHOOXP 6RXWK ,Q FKDOOHQJLQJ WKH DWWHPSW WR FUHDWH D KHJHPRQLF DQG H[FOXVLYHO\ ZKLWHf KLVWRULRJUDSK\ RI WKH SRVWZDU 6RXWK WKHVH ZULWHUV DOVR WULHG WR PDS RXW WKHLU LGHD RI WK FHQWXU\ $PHULFDf§DQ LPDJLQHG FRPPXQLW\ WKDW ZRXOG EH LQWHJUDWHG DQG UHVSHFWIXO RI DOO YRLFHV LQ WKH QDUUDWLYH RI QDWLRQ 8OWLPDWHO\ KRZHYHU WKHVH ZULWHUV KDG WKHLU RZQ OLWHUDU\ YRLFHV GURZQHG

PAGE 9

RXW E\ WKH UDFLVW UKHWRULF HSLWRPL]HG E\ 'L[RQnV QRYHOV WKDW FDPH WR GRPLQDWH $PHULFDQ FXOWXUH LQ WKH ODWWHU SDUW RI WKH WK FHQWXU\ 6LJQLILFDQWO\ QRQH RI WKHVH ZULWHUV SXEOLVKHG VLJQLILFDQW ILFWLRQ DIWHU ,ROD /HUR\ SURYHG WR EH +DUSHUnV RQO\ QRYHO &KHVQXWW ZHQW EDFN LQWR WKH VWHQRJUDSK\ EXVLQHVV LQ &OHYHODQG DIWHU WKH FRPPHUFLDO IDLOXUH RI 7KH 0DUURZ RI 7UDGLWLRQ DQG 7KH &RORQHOnV 'UHDP f DQG *ULJJV DEDQGRQHG ZULWLQJ DIWHU WKH SXEOLFDWLRQ RI KLV ILIWK QRYHO 8QIHWWHUHG f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f &DOOLQJ XSRQ WKH ZRUN RI *HHUW] KLVWRULDQ -RKQ 0F&DUGHOO DUJXHV WKDW 6RXWKHUQ QDWLRQDOLVP EHFDPH D YLDEOH VWUDWHJ\ IRU UHWDLQLQJ WUDGLWLRQV DQG LQVWLWXWLRQV PRVW QRWDEO\ VODYHU\f WKDW VHHPHG XQGHU DVVDXOW IURP DOO RWKHU TXDUWHUV RI WKH $PHULFDQ XQLRQ 7KH FHQWUDO SUHPLVH RI WKLV VWXG\ LV WKDW

PAGE 10

WKH LGHRORJ\ RI 6RXWKHUQ QDWLRQDOLVP EHFDPH VR GHHSO\ HPEHGGHG LQ WKRVH ZKR JRYHUQHG IRXJKW IRU DQG VXIIHUHG DV D UHVXOW RI WKH &RQIHGHUDF\ WKDW WKLV LGHD EHFDPH D EDVLF FRPSRQHQW SDUW RI 6RXWKHUQ LGHQWLW\ :KHQ WKDW QDWLRQ ZDV GHIHDWHG LQ ZDU WKH LGHD RI LW UHPDLQHG VWURQJ SURYLGLQJ DQ LGHRORJLFDO IUDPHZRUN IRU D UHVXVFLWDWLRQ RI 6RXWKHUQ SROLWLFDO SRZHU DQG WKH UHGHSOR\PHQW RI DQWHEHOOXP JHQGHU DQG UDFH UHODWLRQV 6RXWKHUQ QDWLRQDOLVP ZDV FUHDWHG E\ DQG WKHQ VXVWDLQHG WKH EHOLHI LQ 6RXWKHUQ fGLIIHUHQFH 7KH ILFWLRQ DXWKRUHG E\ ZKLWHV LQ WKH SRVWEHOOXP SHULRG UDWKHU WKDQ PRXUQ WKH SDVVLQJ RI WKH 6RXWKHUQ QDWLRQ IRXJKW WR NHHS WKDW LPDJLQHG FRPPXQLW\ DOLYH DQG YLEUDQW DQG SROLWLFDOO\ YDOLG 7KH IRFXV RI WKLV VWXG\ LV SULPDULO\ ZKLWH PHQ DQG ZRPHQ IRFXV RQ WKH ZD\V LQ ZKLFK WKHVH YDULRXV ZKLWH ZULWHUV VHW DERXW WKH WDVN RI FUHDWLQJ DQG VXVWDLQLQJ DQ LPDJLQHG FRPPXQLW\ D FRPPXQLW\ EXLOW XSRQ UDFLVW SUHPLVHV )DU IURP MXVWLI\LQJ WKLV UDFLVP WU\ WR XQGHUVWDQG LW DV D VWUDWHJ\ RI GHFRORQL]DWLRQ $V 5LFKDUG *UD\ KDV DVVHUWHG WKH H[SDQVLRQ RI WKH OLWHUDU\ FDQRQ UHTXLUHV WKDW ZH QRZ WKLQN RI 6RXWKHUQ FXOWXUHV QRW D VLQJXODU FXOWXUH 7KLV VWXG\ FULWLTXHV WKH DWWHPSW RQ WKH SDUW RI WKH ILUVW JHQHUDWLRQ RI SRVWEHOOXP 6RXWKHUQ ZULWHUV WR UHFRQVWUXFW DQG DVVHUW WKH H[FOXVLYLW\ RI D GRPLQDQW QHFHVVDULO\ ZKLWH $QJOR6D[RQ FXOWXUH &KDSWHU IRFXVHV RQ WKH ZD\V LQ ZKLFK VHFHVVLRQLVWV VRXJKW WR OLQN LGHDV RI QDWLRQ DQG PDVFXOLQLW\ WR SURPRWH WKH

PAGE 11

LGHD RI D VHSDUDWH 6RXWKHUQ QDWLRQ DQG WR LQVXUH LWV YLDELOLW\ /RRNLQJ DW FRQWHPSRUDU\ FULWLFDO HVVD\V SRHWU\ OHWWHUV DQG GLDU\ HQWULHV FRQWHQG WKDW WKH &RQIHGHUDWH QDWLRQEXLOGHUV SRVLWHG WKH 6RXWKHUQ QDWLRQ DV WKH SKDOOXV WHVWLQJ HDFK 6RXWKHUQHUnV PDQKRRG E\ PHDVXULQJ WKHLU OR\DOW\ WR DQG ZLOOLQJQHVV WR ILJKW IRU WKDW QDWLRQ :LWK WKLV UKHWRULFDO FRQVWUXFW WKH GHIHDW RI 6RXWKHUQ WURRSV DW WKH KDQGV RI WKH
PAGE 12

SURWHVWV RQH RI ZKLFK ZDV DWWHQGHG DQG GLVEDQGHG E\ -HIIHUVRQ 'DYLVf DQG DGYRFDWHG GHVHUWLRQ WR WKHLU PHQ LQ WKH ILHOG ,Q WKLV ZD\ &RQIHGHUDWH ZRPHQ KDG D KDQG LQ WKH ILQDO GHIHDW RI WKHLU QDWLRQ EHFDXVH WKH\ EHJDQ QRW WR LGHQWLI\ ZLWK LW
PAGE 13

&KRSLQ 7KRPDV 1HOVRQ 3DJH DQG *HRUJH :DVKLQJWRQ &DEOHf§ FUHDWH D UHYLVLRQDU\ JHRJUDSK\ WR DFFRPPRGDWH UHYLVLRQDU\ KLVWRULHV &KRSLQnV $W )DXOW FUHDWHV D ODQGVFDSH LQ ZKLFK UDFLDO GLYHUVLW\ JHWV UHSODFHG E\ D SHUYDVLYH ZKLWHQHVV 3DJH DQG &DEOH ERWK SURGXFH FKURQLFOHV RI 5HFRQVWUXFWLRQ EXW WKH\ DOVR FRQVWUXFW LPDJLQDWLYH JHRJUDSKLFDO VHWWLQJV WKDW ERWK FRQILUP WKH 6RXWKnV UHSRVVHVVLRQ RI LWVHOI DQG UHRUJDQL]H VRFLDO UHODWLRQV ZKLFK KDG EHHQ WXUQHG XSVLGH GRZQ E\ WKH ZDU 7KH 6XSUHPH &RXUWnV UHMHFWLRQ RI FLYLO ULJKWV OHJLVODWLRQ IRU EODFNV DV XQFRQVWLWXWLRQDO LQ UHSODFHG DXWKRULW\ IRU VXFK SURWHFWLRQV LQ WKH KDQGV RI ORFDO DXWKRULWLHV 7KLV UHHPSKDVLV RQ WKH SRZHU RI WKH ORFDO DOORZHG ORFDO FRORULVWV OLNH &KRSLQ 3DJH DQG &DEOH WR FUHDWH D ORFDO VFHQH WKDW UHVWRUHV DQWHEHOOXP YDOXHV DQG SUHPLVHV LQ D SRVWEHOOXP ZRUOG &KDSWHU ORRNV DW WKH EXUJHRQLQJ ZULWLQJ RI $IULFDQ $PHULFDQV DV ZHOO DV WKH UHVSRQVH WR LW E\ 7KRPDV 'L[RQ ZKR ZLWK 7KH /HRSDUGnV 6RRWV f DQG 7KH &ODQVPDQ f EHFDPH WKH PRVW ZLGHO\ UHDG DXWKRU RI KLV GD\ 'L[RQnV YLUXOHQW UDFLVP WDSSHG LQWR D QDWLRQDO DQ[LHW\ DERXW RWKHUV DW WKH WXUQ RI WKH FHQWXU\ :ULWHUV OLNH )UDQFHV +DUSHU &KDUOHV &KHVQXWW DQG SDUWLFXODUO\ 6XWWRQ *ULJJV KDG EHJXQ WR FUHDWH D UHVSRQVH RI VRUWV WR WKH ZLGHVSUHDG QRWLRQ RI WKH LQIHULRULW\ RI $IULFDQ$PHULFDQV *ULJJV DQG 'L[RQ RIIHU FRPSHWLQJ YHUVLRQV RI QDWLRQ IRU $PHULFD DW WKH WXUQ RI WKH WK FHQWXU\ ,Q KLV ILUVW QRYHO ,PSHULXP LQ ,PSHULR *ULJJV

PAGE 14

UHMHFWV WKH SRVVLELOLW\ RI VHSDUDWH QDWLRQV RQH ZKLWH DQG RQH EODFN DQG LQVWHDG RIIHUV D SOHD IRU LQWHJUDWLRQ 'L[RQ WDFLWO\ RIIHUV WZR SRWHQWLDO QDWLRQKRRGV IRU $PHULFDf§RQH SURSKHV\LQJ DQDUFK\ EHFDXVH RI $QJOR6D[RQ VXEPLVVLRQ WR GDUN UDFHV DQG WKH RWKHU WKH &RQIHGHUDWH PRGHO D QDWLRQ SUHPLVHG RQ ZKLWH VXSUHPDF\ 'L[RQnV VXFFHVV SUHVDJHG D VWUXJJOH IRU FLYLO ULJKWV IRU $IULFDQ$PHULFDQV WKDW ZRXOG ODVW IRU RYHU KDOI D FHQWXU\ 8QGRXEWHGO\ VRPH PLJKW TXHVWLRQ WKH DSSURSULDWHQHVV RI FRQVLGHULQJ ZKLWH 6RXWKHUQHUV DIWHU WKH &LYLO :DU DV FRORQL]HG $IWHU DOO WKHLU QDWLRQ VWRRG IRU D IDU PRUH GLUHFW IRUP RI FRORQL]DWLRQf§VODYHU\ ,QWHUHVWLQJO\ WKRXJK VLJQV RI WKH &RQIHGHUDWH QDWLRQ KDYH EHHQ DSSURSULDWHG DV PRGHV RI SURWHVW DQG UHVLVWDQFH )RU LQVWDQFH LQ KLV VXUYH\ RI WKH JHQUH RI 6RXWKHUQ URFN PXVLF 3DXO :HOOV DUJXHV WKDW 6RXWKHUQ PXVLFLDQV VWULYH WR FUHDWH LQ WKHLU PXVLF QRVWDOJLF FRQWLQXLWLHV P\WKLF FRQQHFWLRQV EHWZHHQ WKH &LYLO :DU 6RXWK DQG PRGHUQ GD\ ZKLFK FRQVWDQWO\ LQYLJRUDWH WKH LGHD RI 6RXWKHUQ GLVWLQFWLYHQHVV 'LVFXVVLQJ WKH ZD\ LQ ZKLFK 6KHUPDQn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f

PAGE 15

2GGO\ DV :HOOV VXJJHVWV 6RXWKHUQ URFN UHOLHG RQ LWV RZQ SROLWLFDO LQFRUUHFWQHVV WR DWWUDFW IDQV DQG UHWDLQ SRSXODULW\ 6RXWKHUQ URFN WKXV EHFRPHV RQH PDQLIHVWDWLRQ LQ SRSXODU FXOWXUH RI WKH FRQWLQXHG EHOLHI LQ 6RXWKHUQ QDWLRQDOLVP $V :HOOV VXPV XS ,URQLFDOO\ LQ VRXWKHUQ URFN FXOWXUH ORRNLQJ EDFN HJXDWHV ZLWK ORRNLQJ IRUZDUG DQG FUHDWLQJ DQ LGHQWLW\ ZKLFK UHVLVWV WKH FRQWUDGLFWLRQV RI FRQWHPSRUDU\ OLIH 7KLV FRQVWUXFWLRQ LV LWV RZQ nKDSS\ HQGLQJn YDOLGDWLQJ WKH QRWLRQ WKDW HYHQ LI RQO\ DW WKH OHYHO RI FRQVROLGDWLQJ D SODFH LQ SRSXODU FXOWXUH WKH 6RXWK KDV ULVHQ DJDLQ f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

PAGE 16

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nV 0DJD]LQH WKDW DV %RRWK UXVKHG RXW RI WKH EDUQ KH ZDV KROG XS LQ KH VKRXWHG 2QH PRUH VWDLQ RQ WKH JORULRXV ROG EDQQHU 5HJDUGOHVV RI ZKDW %RRWK VDLG KLV SDVVLRQ GHULYHG IURP KLV EHOLHI LQ WKH LGHD RI D 6RXWKHUQ QDWLRQ 6HH $OEHUW )XUWZDQJOHU $VVDVVLQ RQ 6WDJH 8UEDQD 8QLYHUVLW\ RI ,OOLQRLV 3UHVV f S DQG %DNHU 7KH &DSWXUH 'HDWK DQG %XULDO RI :LONHV %RRWK &KLFDJR 7KH 3RRU 5LFKDUG 3UHVV f 'LVFXVVLQJ WKH SRVW5XELQ JHQHUDWLRQ RI FULWLFV RI 6RXWKHUQ OLWHUDWXUH LQ KLV LQWURGXFWLRQ WR 6RXWKHUQ 7LWHUDWXUH DQG /LWHUDU\ 7KHRU\ -HIIHUVRQ +XPSKULHV FRQFHGHV WKDW WKH &LYLO :DU GRHV QRW SOD\ DV FHQWUDO D UROH LQ PRGHUQGD\ FULWLFLVP DV LW GLG IRU WKH FULWLFV RI /RXLV 5XELQnV JHQHUDWLRQ +XPSKULHV DUJXHV WKDW WKH &LYLO 5LJKWV PRYHPHQW RI WKH nV ZKLFK KH VHHV DV DQ RIIVKRRW RI WKH ZDUf PRUH GLUHFWO\ LQIRUPV WKH QHZ JHQHUDWLRQnV FULWLFDO VHQVLELOLWLHV 7KXV +XPSKULHV GLVSXWHV /HZLV 6LPSVRQnV FODLP WKDW KLVWRULDQV DQG QRW OLWHUDU\ FULWLFV ZLOO EH PRUH DGHSW DW LGHQWLI\LQJ WKH FRPSOH[LWLHV RI 6RXWKHUQ LGHQWLW\

PAGE 17

7KH FRQIOLFW EHWZHHQ 2OG DQG 1HZ 6RXWK WKH VRUW RI WHQVLRQV ZH OLYHG WKURXJK DQG VWLOO IHHO ZKLOH GLIIHUHQW IURP WKRVH RFFDVLRQHG E\ WKH HFRQRPLF DQG PDWHULDO GHYDVWDWLRQ RI WKH &LYLO :DU DQG 5HFRQVWUXFWLRQ DUH WRR SRZHUIXO WR ILQG H[SUHVVLRQ LQ WKH TXLHWHU FRROHU PRGH RI KLVWRU\ DORQH 2QO\ OLWHUDWXUH FDQ DFFRPPRGDWH WKHP +XPSKULHV [LLf
PAGE 18

6RXWKHUQ 1DWLRQ 1HZ
PAGE 19

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nV RZQ VKLIWLQJ JHQGHU GLVWLQFWLRQV FRQFHUQLQJ WKH &RQVWLWXWLRQ KLJKOLJKW KLV FKLHI GLVVDWLVIDFWLRQ ZLWK XQLRQ 7KH &RQVWLWXWLRQ ZDV DQGURJ\QRXVf§VXVFHSWLEOH WR YLRODWLRQ IHPLQLQHf RU HPDVFXODWLRQ E\ WKH VXEWOHWLHV RI 1HZ (QJODQG ORJLF /DWHU LQ KLV HVVD\ DGYRFDWLQJ D VHSDUDWH QDWLRQDOLW\ +ROFRPEH GHVFULEHV 1RUWKHUQ DEROLWLRQLVWV DV WKDW PRWOH\ FUHZ RI PHQ ZKR VKRXOG EH ZRPHQ DQG ZRPHQ ZKR VKRXOG EH PHQ f :KDW +ROFRPEH DQG RWKHU DGYRFDWHV RI VHFHVVLRQ FUDYHG ZDV D QDWLRQDO VSDFH WKDW ZDV EDVHG RQ DQG SRVLWHG DV QRUPDWLYH D EROG KHWHURVH[XDO PDVFXOLQLW\ D QDWLRQDO SUHPLVH WKDW FRXOG UHVLVW YLRODWLRQ DQG HPDVFXODWLRQ

PAGE 20

,Q 1DWLRQDOLVP DQG 6H[XDOLW\ *HRUJH / 0RVVH WUDFHV WKH ULVH RI *HUPDQ QDWLRQDOLVP WKDW HYHQWXDOO\ OHG WR WKH 1D]L VWDWH +H QRWHV WKDW KHWHURVH[XDO PDVFXOLQLW\ EHFDPH DQ LPSRUWDQW WRRO LQ WKH FUHDWLRQ RI QDWLRQ 0DQOLQHVV ZDV LQYRNHG WR VDIHJXDUG WKH H[LVWLQJ RUGHU DJDLQVW WKH SHULOV RI PRGHUQLW\ ZKLFK WKUHDWHQHG WKH FOHDU GLVWLQFWLRQ EHWZHHQ ZKDW ZDV FRQVLGHUHG QRUPDO DQG DEQRUPDOLW\ 0RUHRYHU PDQOLQHVV V\PEROL]HG WKH QDWLRQnV VSLULWXDO DQG PDWHULDO YLWDOLW\ f 6WURQJ KHWHURVH[XDO PHQ H[HPSOLILHG D VWURQJ KHDOWK\ QDWLRQ 'HYLDQFHV FRXOG QRW EH WROHUDWHG DQG WKRVH SHULOV RI PRGHUQLW\ WKDW LV LGHDV DQG EHKDYLRUV WKDW FKDOOHQJHG WKH ERXUJHRLV VWDWXV TXR FRQVWLWXWHG VXFK GHYLDQFHV 0RVVH QRWHV KRZ VXFK GHYLDQW FKDUDFWHUV ZHUH SRUWUD\HG LQ QDWLRQDOLVW SURSDJDQGD 7KH XJO\ FRXQWHULPDJH RI WKH QHUYRXV XQVWDEOH KRPRVH[XDO DQG PDVWXUEDWRU ZKRVH SK\VLRJQRP\ ZDV HYHU PRUH VKDUSO\ GHOLQHDWHG WKDQNV WR PHGLFDO VFLHQFHnV DWWULEXWLRQ RI PRUDO DQG DHVWKHWLF YDOXHV EHFDPH DQ LPSRUWDQW V\PERO RI WKH WKUHDW WR QDWLRQDOLVP DQG UHVSHFWDELOLW\ SRVHG E\ WKH UDSLG FKDQJHV RI WKH PRGHUQ DJH f 6XFK FRXQWHULPDJHV UHIOHFWHG WKH VXSSRVHG UHVXOWV RI D ODFN RI PRUDO FRQWURO 3HRSOH ZKR JDYH LQ WR WKHLU OXVWV VDSSHG WKHLU VWUHQJWK DQG WKXV EHFDPH XQSURGXFWLYH SHRSOH ZKR LQYHVWHG WKHPVHOYHV LQ WKH VWDWH FKDQQHOHG WKHLU HQHUJLHV LQFOXGLQJ WKHLU KDUPIXO GHVLUHVf LQWR VRFLDOO\ SRVLWLYH DFWV RI QDWLRQDOLVP 7KRXJK 0RVVH ZDV ZULWLQJ DERXW WXUQRIWKHFHQWXU\ *HUPDQ\ KLV LGHDV FDQ EH DSSOLHG WR WKH 6RXWKHUQ 8QLWHG

PAGE 21

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f§RQH RI SURSHU PDVFXOLQLW\ DQG RQH RI SURSHU QDWLRQf§WKDW KDG WR FLWH RQH DQRWKHU WR YHULI\ WKHLU UHVSHFWLYH SUHPLVHV 7KH FDYDOLHU P\WK ZKLFK SXUSRUWHG WR H[SODLQ 6RXWKHUQ GLIIHUHQFH DQG WKH VXSHULRULW\ RI 6RXWKHUQ PHQ H[LVWHG ORQJ EHIRUH VHFHVVLRQ 6HFHVVLRQ DGYRFDWHV PHUHO\ H[SORLWHG WKH EHOLHI LQ WKDW VXSHULRULW\ WR PDNH WKHLU FDVH IRU D VHSDUDWH QDWLRQDOLW\ :H DUH WKH ODQG RI UXOHUV IDQDWLFLVP KDV QR KRPH KHUH ZURWH *HRUJLD SODQWHU &KDUOHV & -RQHV -U WR KLV IDWKHU RQ -DQXDU\ 7KH VRRQHU ZH VHSDUDWH WKH EHWWHU 0\HUV f :LOOLDP +ROFRPEH FRQFXUUHG ZLWK VXFK DQ RSLQLRQ 7KH ZRUG VXEPLVVLRQ LQ WKH VHQVH RI SROLWLFDO GHJUDGDWLRQ GRHV QRW H[LVW LQ WKH 6RXWKHUQ YRFDEXODU\ 7KHUH LV QR PDQ LQ WKH 6RXWK VR VWXSLG VR FRZDUGO\ VR EDVH DV WR EH ZLOOLQJ WR OLYH LQ WKH 8QLRQ DV LW LV +ROFRPEH f

PAGE 22

)RU -RQHV DQG +ROFRPEH DQG RWKHU SURSRQHQWV RI WKH VHFWLRQDO VSOLW WKH 6RXWKHUQ PDQnV FDSDFLW\ WR UXOH ZDV LQGLVSXWDEOH $V RQH 6RXWKHUQ HGLWRULDOLVW QRWHG LQ DQ HVVD\ GLVWLQJXLVKLQJ EHWZHHQ 1RUWKHUQ DQG 6RXWKHUQ PHQ ORUGLQJ RYHU DQ HQWLUH UDFH GHPRQVWUDWHG WKHLU SDUWLFXODU FDSDFLW\ IRU H[HFXWLYH FRQWURO 7KH 'LIIHUHQFH f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f +RQRU UHTXLUHG D SXEOLF FRQVHQVXV LW ZDV DQ LGHRORJ\ ZKLFK LQWHUSHOODWHG VXEMHFWV PDNLQJ WKRVH VXEMHFWV XQGHUVWDQG EHKDYLRU DFFHSWDEOH WR WKH VWDWH DV ZHOO DV WKH XQDFFHSWDELOLW\ RI FKDOOHQJHV WR WKDW LGHRORJ\ 7KH 1RUWK DQG LWV DWWLWXGHV DORQJ ZLWK WKH SRVVLELOLW\ RI WKH HOHFWLRQ RI $EUDKDP /LQFROQ LQ SRVHG WKH PRVW VHULRXV FKDOOHQJH WR 6RXWKHUQ VRFLHW\ DQG WKH LQVWLWXWLRQV LW FKHULVKHG $V :\DWW%URZQ SXWV LW SUH&LYLO :DU 6RXWKHUQHUV KDG WR FDOFXODWH WKH YDOXH RI XQLRQ ZKHQ WKHLU

PAGE 23

FODLPV WR UHVSHFW ZHUH PHW LQ WKH 1RUWK ZLWK VNHSWLFLVP FRQGHVFHQVLRQ DQG ILQDOO\ FRQWHPSW f 7KXV WKH 6RXWKHUQ QDWLRQ FRXOG EH SURSRVHG DV D YLDEOH LGHD EHFDXVH RI WKH GHHSO\ KHOG EHOLHI LQ WKH VXSHULRULW\ RI 6RXWKHUQ PHQ 2QFH VHFHVVLRQ JDLQHG VXSSRUW WKH 6RXWKHUQ QDWLRQ EHJDQ WR GLFWDWH WKH JURXQGV RI DSSURSULDWH 6RXWKHUQ PDVFXOLQLW\ 6RPH SUR6RXWK DGYRFDWHV WULHG WR FRQQHFW WKH IXWXUH RI WKH QHZ QDWLRQ WR WKH VWRULHG SDVW RI WKH UHJLRQ )RU H[DPSOH -RVHSK $GGLVRQ 7XUQHU D *HRUJLD SODQWHU DQG ZULWHU DUJXHG LQ WKH -XO\ 'H%RZnV 5HYLHZ WKDW 6RXWKHUQHUV VKRXOG ER\FRWW 1RUWKHUQSURGXFHG JRRGV DV D VLJQ RI UHJLRQDO VROLGDULW\ &RQFHGLQJ WKDW VRPH HFRQRPLF KDUGVKLS PLJKW UHVXOW 7XUQHU XVHG WKH SURPLQHQW IDPLOLHV RI WKH 6RXWK DV D PRGHO RI KRZ KLV JHQHUDWLRQnV PHQ VKRXOG FRPSRUW WKHPVHOYHV $UH WKH VRQV RI RXU IDWKHUV VR GHJHQHUDWH WKDW WKH\ FDQ VDFULILFH QRWKLQJ WR WKH FDXVH RI LQGHSHQGHQFH" $U WKH\ ZLOOLQJ IRU WKH VDNH RI SUHVHQW HDVH DQG OX[XU\ WR UHPDLQ LQ D VWDWH RI YLUWXDO YDVVDODJH" ,V WKH VSLULW RI WKH +DEHUVKDPV WKH 0FOQWRVKHV WKH 7DWQDOOV WKH 7URXSV DQG DOO WKDW JDOODQW KRVW ZKRVH QDPH LV OHJLRQ H[WLQFW" 7XUQHU f 7XUQHUnV GLFWLRQ UHFXUV WR WKH FDYDOLHU P\WKf§FKDOOHQJLQJ 6RXWKHUQ PHQ QRW WR DFFHSW YDVVDODJH UHIHUULQJ WR WKH JUHDW 6RXWKHUQ IDPLOLHV DV JDOODQW ,Q WKLV ZD\ 7XUQHU ERWK DFFHSWV WKH P\WKRV RI WKH VXSHULRU 6RXWKHUQ PDQ DQG VHWV WKH VWDQGDUG IRU KLV JHQHUDWLRQnV PHQ 2QO\ E\ FRPPLWWLQJ WKHPVHOYHV WR WKH FDXVH RI LQGHSHQGHQFH FRXOG 6RXWKHUQ PHQ VKRZ WKDW WKH\ ZHUH QRW GHJHQHUDWH 7XUQHUnV UKHWRULF WKXV

PAGE 24

WDSV LQWR ZKDW 0RVVH QRWHV DV WKH QHHG RI WKH QDWLRQ WR SUHVHQW PDQOLQHVV DV D PHDVXUH RI WKH QDWLRQnV VSLULWXDO DQG PDWHULDO YLWDOLW\ (YHQ PRUH GLUHFW FKDOOHQJHV WR 6RXWKHUQ PDQKRRG ZHUH PDGH LQ YDULRXV SXEOLF RUJDQV )RU H[DPSOH LQ D SURSDJDQGD SDPSKOHW FLUFXODWHG WKURXJKRXW WKH 6RXWK LQ D VHFHVVLRQLVW XVLQJ WKH SHQQDPH 7URXS FKDOOHQJHG 6RXWKHUQ PHQ WR MRLQ LQ WKH EXLOGLQJ RI D 6RXWKHUQ QDWLRQ LQ RUGHU WR UHIXWH DVSHUVLRQV FDVW DJDLQVW WKH 6RXWK E\ WKH 1HZ
PAGE 25

LQ RUGHU WR HQVXUH VHUYLFH WR WKH &RQIHGHUDF\ ZRPHQ RIIHUHG WKHPVHOYHV DV SUL]HV IRU YLFWRU\ )RU H[DPSOH DURXQG WKH VDPH WLPH WKDW 7KRUQZHOO ZDV ZULWLQJ KLV HVVD\ &DUULH %HOO 6LQFODLU ZURWH D VRQJ FDOOHG 7KH +RPHVSXQ 'UHVV ZKLFK GHWDLOHG QRW RQO\ ZRPHQnV VDFULILFHV IRU WKH ZDU HIIRUW EXW DOVR H[SHFWDWLRQV RI WKH PHQ WKH\ ZHUH VDFULILFLQJ IRU $QG QRZ \RXQJ PDQ D ZRUG WR \RX ,I \RX ZRXOG ZLQ WKH IDLU *R WR WKH ILHOG ZKHUH KRQRU FDOOV $QG ZLQ \RXU ODG\ WKHUH 5HPHPEHU WKDW RXU EULJKWHVW VPLOHV $UH IRU WKH WUXH DQG EUDYH $QG WKDW RXU WHDUV DUH DOO IRU WKRVH :KR ILOO D VROGLHUnV JUDYH 6LOEHU f 2QFH DJDLQ FDOOLQJ RQ PHQnV KRQRU 6LQFODLU DUJXHV WKDW WKH ZDU VHUYHG D GRXEOH SXUSRVHf§WR ZLQ SROLWLFDO VRYHUHLJQW\ DQG WR ZLQ ZRPHQ (YHQ GHDWK ZRXOG EH UHZDUGHG E\ ZRPHQnV ORYH DV ORQJ DV LW ZDV FRQQHFWHG WR VHUYLFH WR WKH VWDWH %XW 6LQFODLU PDNHV TXLWH FOHDU ZKDW OLYLQJ YLFWRULRXV VROGLHUV FRXOG H[SHFW 7KH VROGLHU LV WKH ODG IRU PHf§ $ EUDYH KHDUW DGRUH $QG ZKHQ WKH VXQQ\ 6RXWK LV IUHH $QG ILJKWLQJ LV QR PRUH ,f FKRRVH PH WKHQ D ORYHU EUDYH )URP RXW WKH JDOODQW EDQG 7KH VROGLHU ODG ORYH WKH EHVW 6KDOO KDYH P\ KHDUW DQG KDQG :KDW 6LQFODLU VXJJHVWV UHLQIRUFHG WKH UKHWRULF RI WKH VXSHULRU 6RXWKHUQ PDQ 2QO\ PHQ ZKR KDG VHUYHG WKH VWDWH FRXOG EH LPEXHG ZLWK WUXH PDQKRRG DQG 6LQFODLU DIILUPV WKDW RQO\ WKHVH PHQ ZHUH ZRUWK\ RI 6RXWKHUQ ZRPHQ %XW 6LQFODLUnV VRQJ DOVR SRLQWV WR WKH XOWLPDWH PDUNHU RI 6RXWKHUQ PDQKRRGf§YLFWRU\

PAGE 26

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f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f ,Q WHUPV RI WKH 6RXWKHUQ PDQ DV D QRUP WKH 6RXWKHUQ QDWLRQ GLFWDWHV WKH ODZ WKDW YHULILHV WKH QRUP ,Q RWKHU ZRUGV WKH UKHWRULF RI VHFHVVLRQ VR FORVHO\ LQWHUWZLQHV WKH GLVFRXUVH RI PDVFXOLQLW\ ZLWK WKH GLVFRXUVH RI QDWLRQ WKDW D VXEMHFW FDQQRW PDNH UHIHUHQFH WR WKH QRUP ZLWKRXW ILUVW FLWLQJ WKH QDWLRQ ,Q WKLV ZD\ WKH 6RXWKHUQ QDWLRQ JDLQV VWDWXV DQG YLDELOLW\ WKURXJK LWV LPSOLFDWLRQ LQ WKH ODZ RI QRUPDWLYH

PAGE 27

6RXWKHUQ PDVFXOLQLW\ $V WKDW ODZ LV FLWHG DQG LQ WKH SURFHVV RI FLWDWLRQ LQ %XWOHUnV IRUPXODWLRQ IRUWLILHG DQG LGHDOL]HG DV WKH ODZf WKH 6RXWKHUQ QDWLRQ LV FLWHG IRUWLILHG LGHDOL]HG DQG SURGXFHG DV WKH ODZ DV ZHOO 7KH SHUIRUPDWLYLW\ RI SURSHU PDVFXOLQLW\ EHFRPHV LPSOLFDWHG LQ WKH SHUIRUPDWLYLW\ RI SURSHU FLWL]HQVKLS LQ WKH 6RXWKHUQ QDWLRQ 7KH 8Q
PAGE 28

KRQRU WUXWK DQG PDQOLQHVV -RQHV GHVFULEHG WKH EDVLV XSRQ ZKLFK WKH &RQIHGHUDF\ ZRXOG EH JURXQGHG 3RVLWLQJ 1RUWKHUQ PHQ DV WKH HQHP\ QRW RQO\ SURYLGHG D IODVKSRLQW IRU WKH FUHDWLRQ RI QDWLRQDOLVP EXW DOVR KHOSHG GLYHUW DWWHQWLRQ IURP VRPH SRWHQWLDOO\ IUDFWLRXV LVVXHV FRQIURQWLQJ WKH QHZ QDWLRQ )RU H[DPSOH VODYHU\ DV D UDWLRQDOH IRU GLVXQLRQ PLJKW KDYH WHQGHG WR XQGHUVFRUH UHJLRQDO DQG FODVV GLIIHUHQFHV 7KH ERUGHU VWDWHV RI WKH &RQIHGHUDF\ UHOLHG IDU OHVV RQ VODYHU\ IRU DJULFXOWXUDO SURGXFWLRQ WKDQ GLG WKHLU GHHS 6RXWK QHLJKERUV 7KXV SURWHFWLQJ WKH SHFXOLDU LQVWLWXWLRQ GLG QRW VHHP DV XUJHQW D QHFHVVLW\ LQ VWDWHV OLNH .HQWXFN\ 7HQQHVVHH DQG 9LUJLQLD )XUWKHU HYHQ E\ 6RXWKHUQ FRXQWV RQO\ RQH LQ WKUHH ODQGRZQHUV SRVVHVVHG VODYHV DQG KDOI RI WKRVH RZQHG ILYH VODYHV RU IHZHU 'H%RZ f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f 7KRXJK ODERUHUV LQ WKH 1RUWK DQG 6RXWK

PAGE 29

PLJKW EH EURWKHUV 'H%RZ DVVHUWV WKDW WKH FRQGLWLRQV DQG LQVWLWXWLRQV RI WKH 6RXWK VHUYHG WR KHLJKWHQ ZKLWH 6RXWKHUQ PHQn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f 7KHVH 6RXWKHUQ JHQWOHPHQ ZRXOG EH ILJKWLQJ IRU D FDXVHf§WKH SURWHFWLRQ RI WKHLU SURSHUW\ DQG LQVWLWXWLRQV 1RUWKHUQ WURRSV ZRXOG EH ILJKWLQJ IRU WKH ULJKW WR SLOODJH )RU WKLV ZULWHU WKH HOHYDWLRQ RI 6RXWKHUQ PHQ DQG WKHLU PRUDO VHQVH RI SXUSRVH SURYLGHG D FRXQWHU WR WKH 1RUWKnV WHFKQRORJLFDO DQG QXPHULFDO VXSHULRULW\ 7KH SURWHFWLRQ RI WUDGLWLRQ EHFDPH \HW DQRWKHU ZD\ WKDW VHFHVVLRQLVWV GLVWLQJXLVKHG 6RXWKHUQ PHQ IURP 1RUWKHUQ 1RUWKHUQ PHQ UHSUHVHQWHG D ZURQJKHDGHG PRGHUQLW\ WKDW LI DOORZHG WR UXQ LWV FRXUVH ZRXOG KDYH FDWDVWURSKLF FRQVHTXHQFHV -RVHSK %UHQDQnV SRHP $ %DOODG IRU WKH
PAGE 30

6RXWK SXEOLVKHG LQ )HEUXDU\ PDNHV VXFK D SRLQW ZLWK WKH ILFWLRQDO VSHHFK E\ D 1RUWKHUQ VHQDWRU 'RZQ ZLWK WKH ODZV RXU IDWKHUV PDGH 7KH\ ELQG RXU KHDUWV QR PRUH 'RZQ ZLWK WKH VWDWHO\ HGLILFH &HPHQWHG E\ WKHLU JRUH )RUJHW WKH OHJHQGV RI RXU UDFHf§ (IIDFH HDFK ZLVH GHFUHHf§ $PHULFDQV PXVW NQHHO DV VODYHV n7LOO $IULFDQV DUH IUHH 2XW RQ WKH PHUH &DXFDVLDQ EORRG 2I 7HXWRQ &HOW RU *DXOf§ 7KH VWUHDP ZKLFK VSULQJV IURP 1LJHUnV VRXUFH 0XVW WULXPSK RYHU DOO 6R VSHDNV D VROHPQ 6HQDWRU :LWKLQ WKRVH KDOOV WRGD\ :KLFK HFKRHG HUVW WKH WKXQGHUEXUVW 2I :HEVWHU DQG RI &OD\ %UHQDQ f $EROLWLRQLVWV UHSUHVHQWHG D GLUHFW WKUHDW QRW PHUHO\ WR VODYHU\ EXW WR WKH WUDGLWLRQV RI GHPRFUDWLF JRYHUQPHQWf§WKH ODZV RXU IDWKHUV PDGH WKH VWDWHO\ HGLILFH WKH OHJHQGV RI RXU UDFH %UHQDQnV SRHP OD\V RXW WKH FKDOOHQJH IDFHG E\ 6RXWKHUQ PHQ EXW LW DOVR SRVLWLRQV WKRVH PHQ DV GLYLQH GHIHQGHUV 7R WKH 6DLQWV RI +HDYHQ ZDV (PSLUH JLYHQ $QG ZH DORQH DUH 6DLQWV f :LOOLDP +ROFRPEH VHHV QRW MXVW WKH 1RUWK EXW WKH ZKROH ZRUOG LQ FRQVSLUDF\ DJDLQVW WKH 6RXWK /LNH %UHQDQ +ROFRPEH VHHV 6RXWKHUQ PHQ DV GLYLQHO\ FKRVHQ LQWHUFHGHUV /HW XV EH IDLWKIXO WR RXU VXEOLPH WUXVW DQG IXWXUH DJHV ZLOO DSSUHFLDWH WKH JUDQGHXU DQG JORU\ RI RXU PLVVLRQ 7KH $OWHUQDWLYH f )RU ERWK +ROFRPEH DQG %UHQDQ WKH PLVVLRQ RI WKH 6RXWKHUQ QDWLRQ ZDV WR SURYLGH DQ DOWHUQDWLYH VWDJLQJ DUHD IRU WUDGLWLRQ :LWK LWV LQGXVWULDOL]DWLRQ DQG DEROLWLRQLVW

PAGE 31

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f 7KLV XQPDQOLQHVV PDQLIHVWHG LWVHOI PRVW SDUWLFXODUO\ LQ 1RUWKHUQ PHQnV XQZLOOLQJQHVV WR ILJKW 7KH\ PLJKW GHQRXQFH WKH 6RXWK DQG LWV LQVWLWXWLRQV EXW ZKHQ FKDOOHQJHG E\ 6RXWKHUQ PHQ WKH\ PRVW FRZDUGO\ >FODLPHG@ SURWHFWLRQ RI WKH ODZ RU >IHOO@ EDFN XSRQ WKH IDFW RI EHLQJ QRQ FRPEDWDQWV DXWKRUnV HPSKDVLVf 6RXWKHUQ ZLOOLQJQHVV WR HQJDJH LQ SK\VLFDO GHEDWH KDG D YLYLG KLVWRULFDO DQWHFHGHQW ,Q 0D\ 6RXWK &DUROLQD 5HSUHVHQWDWLYH 3UHVWRQ %URRNV EHDW 0DVVDFKXVHWWV 6HQDWRU &KDUOHV 6X PHU LQWR XQFRQVFLRXVQHVV DIWHU 6XPQHU UHIXVHG DQ LQYLWDWLRQ WR GXHO 6XPQHU KDG PDGH IXQ RI WKH 6RXWKHUQ FRPPLWPHQW WR VODYHU\ DV D TXHVWLRQ %XWOHU %URRNVnV FRXVLQ 7KH VHQDWRU IURP 6RXWK &DUROLQD KDV UHDG PDQ\ ERRNV RQ FKLYDOU\ DQG EHOLHYHV KLPVHOI D FKLYDOURXV NQLJKW ZLWK VHQWLPHQWV RI KRQRU DQG FRXUDJH 2I FRXUVH KH KDV FKRVHQ D PLVWUHVV WR ZKRP KH KDV PDGH KLV YRZV DQG ZKR WKRXJK XJO\ WR RWKHUV LV DOZD\V ORYHO\ WR KLP WKRXJK SROOXWHG LQ WKH VLJKW RI WKH ZRUOG LV FKDVWH LQ

PAGE 32

KLV VLJKW PHDQ WKH KDUORW VODYHU\ TXRWHG LQ 2VWHUZHLV f %URRNVnV LPSHWXRXVQHVV DFWXDOO\ HDUQHG WKH SUDLVH RI KLV IHOORZ 6RXWKHUQHUV /RRNLQJ EDFN RQ WKH HYHQW LQ -XQH / 4 & /DPDU WROG 0DU\ &KHVQXW WKDW LI 6XPQHU KDG VWRRG RQ KLV PDQKRRG >WKH@ EORZ QHHG QRW KDYH EHHQ WKH RSHQLQJ VNLUPLVK RI WKH ZDU TXRWHG LQ :\DWW%URZQ f 6XPQHUnV SUHVXPHG FRZDUGLFH HQFRXUDJHG VHFHVVLRQLVWV OLNH /DPDU WR WUXVW LPSOLFLWO\ LQ WKH VXSHULRULW\ RI 6RXWKHUQ PHQ ,Q D EXUVW RI H[XEHUDQFH 6RXWKHUQ ZULWHUV SXEOLVKHG URXVLQJ DFFRXQWV RI WKH H[SORLWV DQG FDSDFLWLHV RI WKHLU UHJLRQnV PHQ 7\SLFDO RI VXFK IDUH ZDV : + +ROFRPEHnV SRHP 7KH 6RXWKHUQ 0DQ SXEOLVKHG LQ WKH -XO\ LVVXH RI WKH 6RXWKHUQ /LWHUDU\ 0HVVHQJHU +ROFRPEH H[WROV ZKDW KH VHHV DV WKH FKLHI YLUWXHV RI 6RXWKHUQ PHQ JHQHURVLW\ LQWHJULW\ IDLWKIXOQHVV +ROFRPEH GHVFULEHV WKH VRXWKHUQ PDQ DV UHDG\ DQG FDSDEOH RI ILJKWLQJ DQG WULXPSKLQJ IRU DQ\ FDXVH ,V LW D ILJKW RQ KDQG" )RU VDFUHG FDXVH RU QRQHf§ )RU D VLOO\ ZRUG RU )DWKHUODQG" :LWK D GR]HQ IDFHV RU RQH" &OHDU WKH ULQJ P\ ER\V %DWWOH LW ZKLOH \RX FDQ %XW IRU JDOODQW EHDULQJ DQG UHFNOHVV GDULQJ 7KHUHnV QRQH OLNH WKH 6RXWKHUQ PDQ +ROFRPEHnV ODQJXDJH DJDLQ WDSV LQWR WKH FDYDOLHU P\WKf§WKH 6RXWKHUQ PHQ LV JDOODQW EXW KH LV DOVR UHFNOHVV ,Q IDFW WKH 6RXWKHUQ PDQ LV DOVR D ER\ DQG KH ILJKWV IRU VDFUHG FDXVH RU D VLOO\ ZRUG 7KH ER\LVK QDWXUH DV H[HPSOLILHG E\ %URRNVnV DWWDFN RQ 6XPQHU SUHYHQWHG WKH

PAGE 33

6RXWKHUQ PDQ IURP IDOOLQJ YLFWLP WR 1HZ (QJODQG ORJLF 7KH ZLOOLQJQHVV WR ILJKW UHJDUGOHVV RI WKH RGGV :LWK D GR]HQ IDFHV RU RQH"f IXOILOOHG WKH UHTXLUHPHQWV RI KRQRU EXW LW DOVR GHPRQVWUDWHG ZK\ WKH 6RXWKHUQ QDWLRQ FRXOG VXUYLYH DQG IORXULVK 7KH PDQOLQHVV RI 6RXWKHUQ PHQ ZRXOG ZRUN LQ WKH VDPH ZD\ WKDW 0RVVH LGHQWLILHV PDQOLQHVV ZRUNLQJ LQ 1D]L SURSDJDQGDWR VDIHJXDUG WKH H[LVWLQJ RUGHU DJDLQVW WKH SHULOV RI PRGHUQLW\ 2QO\ IRU +ROFRPEH PRGHUQLW\ DVVXPHG WKH JXLVH RI WKH
PAGE 34

FRXQWU\ VKRXOG OLNH WR NQRZ KRZ WKH $EROLWLRQLVWV RI WKH 1RUWK HYHU H[SHFW WR FRQTXHU WKH 6RXWK 0RRUH f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
PAGE 35

EHWWHU RUJDQL]HG VHHPHG WR EH FDOOLQJ LQWR TXHVWLRQ RQH RI WKH EDVLF WHQHWV RI 6RXWKHUQ PDVFXOLQLW\ 7KH UKHWRULF RI VXSHULRU 6RXWKHUQ PDQKRRG ZLWK LWV FRQFRPLWDQW JXDUDQWHH RI D YLDEOH 6RXWKHUQ QDWLRQ KHOSHG FUHDWH WKH FRQGLWLRQV QHFHVVDU\ IRU VHFHVVLRQ 6XFK UKHWRULF KDG FODULILHG WKH 6RXWKHUQ SROLWLFDO VLWXDWLRQ RU LQ WKH IRUPXODWLRQ RI &OLIIRUG *HHUW] KDG PDGH WKH SRVVLELOLW\ RI DQ LQGHSHQGHQW 6RXWKHUQ QDWLRQ FRPSUHKHQVLEOH :KDWHYHU HOVH LGHRORJLHV PD\ EHf§SURMHFWLRQV RI XQDFNQRZOHGJHG IHDUV GLVJXLVHV IRU XOWHULRU PRWLYHV SKDWLF H[SUHVVLRQV RI JURXS VROLGDULW\f§WKH\ DUH PRVW GLVWLQFWLYHO\ PDSV RI SUREOHPDWLF VRFLDO UHDOLW\ DQG PDWULFHV IRU WKH FUHDWLRQ RI FROOHFWLYH FRQVFLHQFH *HHUW] DVVHUWV f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nV GHFLVLRQ ZKHWKHU RU QRW WR ILJKW IRU WKH &RQIHGHUDF\ KDG PRUH RU OHVV EHHQ SUHGHWHUPLQHG

PAGE 36

+LV ODVW WULS KRPH EHIRUH VKLSSLQJ RXW WR WKH ZDUIURQW PDGH KLP XQGHUVWDQG ZKDW UHVSRQVLELOLW\ ZDV KLV ,W GLG VHHP KDUG WKDW ZH VKRXOG SDUW EXW RXU FRXQWU\ FDOOV t KH WKDW ZRXOG QRW UHVSRQG GHVHUYHV QRW WKH QDPH RI PDQ t WKRXJK ZH IDOO EDWWOLQJ IRU RXU ULJKWV t DUH GHWHUPLQHG WR KDYH WKHP RU GLH LQ WKH DWWHPSW f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nV 5HYLHZ 3UHVE\WHULDQ PLQLVWHU -DPHV + 7KRUQZHOO VSHOOHG RXW WKH OHYHO RI REHGLHQFH &RQIHGHUDWH OHDGHUV QHHGHG LI WKH QDWLRQ ZHUH WR VXFFHHG ,W LV LPSOLHG LQ WKH VSLULW ZKLFK WKH WLPHV GHPDQG WKDW DOO SULYDWH LQWHUHVWV DUH VDFULILFHG WR WKH SXEOLF JRRG 7KH 6WDWH EHFRPHV HYHU\WKLQJ DQG WKH LQGLYLGXDO QRWKLQJ 7KRUQZHOO f 7KRUQZHOO VRXJKW WR UHHVWDEOLVK WKH QDWLRQ

PAGE 37

DV WKH SUHHPLQHQW DXWKRULW\ LQ 6RXWKHUQ OLIH 7KH VWDWH ZDV VXSUHPH WKH OHJLWLPDF\ RI WKH LQGLYLGXDO SDUWLFXODUO\ RI KLV PDQKRRG VWLOO IORZHG IURP WKH GLFWDWHV RI WKH QDWLRQ 7KH PLOLWDU\ VHWEDFNV VXIIHUHG E\ WKH &RQIHGHUDF\ LQ HDUO\ QRWDEO\ WKH IDOO RI 1HZ 2UOHDQV LQ $SULOf KDG VSDUNHG VRPH TXHVWLRQLQJ RI WKH UKHWRULF RI VXSHULRU 6RXWKHUQ PDQKRRG 7KRUQZHOO XVHG D SOHWKRUD RI SKDOOLF VLJQLILHUV WR UHFRQQHFW YLULOH PDQKRRG DQG WKH VWDWH 'R ZH IHHO WKH PRUDO SRZHU FRXUDJH RI UHVROXWLRQ RI KHURLF ZLOO ULVLQJ DQG VZHOOLQJ ZLWKLQ XV XQWLO LW WRZHUV DERYH DOO WKH VPRNH DQG GXVW RI WKH LQYDVLRQ" 7KHQ ZH DUH LQ D FRQGLWLRQ WR GR JUHDW GHHGV f ,Q XVLQJ WKH FROOHFWLYH ZH 7KRUQZHOO LQGLFDWHV WKDW LQGLYLGXDO SKDOOLF SRZHU KDV QR SODFH LQ WKH QDWLRQDO OLIH RI WKH &RQIHGHUDF\ 2QO\ FROOHFWLYHO\ IRU WKH VWDWH FRXOG VXFK SRZHU PDNH PHDQLQJf§VSHFLILFDOO\ LW FRXOG PDNH D QDWLRQ +H EULQJV WRJHWKHU DOO RI WKH WUDLWV RI WKH WUXH 6RXWKHUQ PDQf§ PRUDO SRZHU DQG FRXUDJH UHVROXWLRQ DQG KHURLF ZLOOf§ DQG LPSOLHV WKDW WKHVH VKRXOG VSXU RQ LQGLYLGXDO DFWV RI PDQKRRG LQ WKH VHUYLFH RI WKH VWDWH 5LVLQJ DQG VZHOOLQJ VXSHULRU 6RXWKHUQ PDQKRRG HYHQWXDOO\ WRZHUV RYHU WKH LQYDGHUV 'HIHDW KDG OHVVHQHG WKH QDWLRQnV FDSDFLW\ WR PDNH PHQ 7KRUQZHOO VRXJKW WR UHDFWLYDWH WKH &RQIHGHUDF\nV WXPHVFHQW DELOLW\ 2WKHU &RQIHGHUDWH SURSDJDQGD DFNQRZOHGJHG PLOLWDU\ ORVV EXW VRXJKW WR PLWLJDWH LWV LPSDFW E\ UHLWHUDWLQJ 6RXWKHUQ PDOH VXSHULRULW\ DQG EUHHGLQJ )RU H[DPSOH D 0LVV 0 RI &ROXPELD 6RXWK &DUROLQD DIWHU WRXULQJ VHYHUDO DUP\ KRVSLWDOV

PAGE 38

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f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

PAGE 39

HQWLUHO\ DQ HIIHFW RI WKH ZD\ LQ ZKLFK WKH\ DUH YLHZHG E\ WKH ZRPHQ DURXQG WKHP 7KHLU JLUOIULHQGV ZLYHV DQG GDXJKWHUV FRQIHU WKH SKDOOXV XSRQ WKHP E\ nUHIXVLQJn WR VHH WKHLU LQDGHTXDF\ f 0LVV 0 ZRXOG VHHP WR VHUYH WKH VDPH IXQFWLRQ 6KH GRHV QRW VHH DQ\ PDOH ODFN IRU LQVWDQFH VKH QHYHU GLVFXVVHV DQ\ RI WKH VROGLHUVn LQMXULHV LQ DQ\ GHWDLO ,Q DUWLFXODWLQJ WKH VROGLHUVn FKLHI GHVLUH VKH FUHDWHV WKHVH PHQf§WKH\ EHFRPH DQ HIIHFW RI WKH ZD\ LQ ZKLFK WKH\ DUH YLHZHG E\ WKH ZRPHQ DURXQG WKHP *LYHQ WKH IDFW WKDW WKH UKHWRULF RI WKH VXSHULRU 6RXWKHUQ PDQ ZDV SUHGLFDWHG RQ YLVLEOH DFWV WKDW ZRXOG FRQILUP KLV KRQRU 0LVV 0nV EOLQGQHVV UHLQYLJRUDWHV WKDW UKHWRULF E\ FHQVRULQJ LPDJHV DVVRFLDWHG ZLWK WKH VHWEDFNV RI WKH ZDU ,Q DFWLQJ DV DQ DJHQW RI WKH VWDWH 0LVV 0 FDQ FRQIHU WKH SKDOOXV XSRQ WKH VROGLHUV EHFDXVH LQ /DFDQLDQ WHUPV WKH &RQIHGHUDWH QDWLRQ ZDV SRVLWHG DV WKH SKDOOXV E\ LWV OHDGHUV WKH XOWLPDWH UHSRVLWRU\ RI WKH )DWKHUODQGf SRZHU PDQKRRG WKH ODZ HWF 7KXV ZKDW 7KRUQZHOO GHSLFWHG DV ULVLQJ DQG VZHOOLQJ ZLWKLQ PHQ RZHG LWV H[LVWHQFH WR WKH H[LVWHQFH RI WKH QDWLRQ 7KH IDLOXUH RI WKH QDWLRQ PHDQW WKH IDLOXUH RI WKHLU PDQKRRG 0DQ\ LQ WKH &RQIHGHUDWH UDQNV OLNH 5REHUW 0RRUH LQWHUQDOL]HG WKH FRQIODWLRQ RI PDQKRRG DQG QDWLRQ DQG DFWHG DFFRUGLQJO\ (YHQ DV WKH FRQGLWLRQV RI WKHLU ORYHG RQHV JUHZ ZRUVH &RQIHGHUDWH VROGLHUV FRQWLQXHG WR SODFH WKH GHIHQVH RI WKHLU QDWLRQ DERYH DOO RWKHU PDWWHUV )RU H[DPSOH &RORQHO

PAGE 40

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
PAGE 41

UHODWLRQVKLS WR KLV ZLIH )DQQ\ +DYLQJ EHHQ SURPRWHG WR FRORQHO 3HQGHU IHOW WUHPHQGRXV UHVSRQVLELOLW\ WR WKH &RQIHGHUDF\ )XUWKHU WKDW SURPRWLRQ KDG LQVWLOOHG LQ KLP D JUHDWHU VHQVH RI KLV RZQ PDQKRRG 7R GR GLVKRQRU WR WKH QDWLRQ ZRXOG WDLQW KLV RZQ PDVFXOLQLW\ 7KXV ZKHQ 3HQGHU JRW ZRUG RI )DQQ\nV LOO KHDOWK KH OLNH 1XJHQW TXHVWLRQHG WKH VWULFWXUHV LPSRVHG RQ KLP E\ KLV UHODWLRQVKLS WR WKH QDWLRQ EXW KH TXLFNO\ FDPH WR KLV LGHRORJLFDO VHQVHV VRPHWLPHV IHHO WKDW LI LW ZHUH PDQO\ DQG KRQRUDEOH ZRXOG EH ZLOOLQJ WR JLYH XS DOO KRSHV RI GLVWLQFWLRQ DQG PLOLWDU\ DPELWLRQ WR OLYH TXLHWO\ ZLWK P\ ZLIH DQG FKLOGUHQ %XW DQ\RQH ZLWK D PLOLWDU\ HGXFDWLRQ LV LQ KRQRU ERXQG WR FRPH IRUWK WKHVH WLPHV DQG GHIHQG KLV FRXQWU\ DJDLQVW WKH FRXQWOHVV WKRXVDQGV RI WKH XQSULQFLSOHG YLOODLQV +DVVOHU f $JDLQ KRQRU SOD\V D NH\ UROH LQ 3HQGHUnV WKLQNLQJ /LNH 1XJHQW 3HQGHU HPSOR\V WKH LPDJH RI WKH KRUGH VZHHSLQJ RYHU WKH 6RXWKHUQ ODQGVFDSHf§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n ZRUWK WKURXJK DFWV RI

PAGE 42

EUDYHU\ /LQGHUPDQ FLWHV 6WRQHZDOO -DFNVRQ DV WKH SULPDU\ H[DPSOH RI DQ RIILFHU ZKR WKURXJK KLV RZQ DFWLRQV FRQYLQFHG KLV PHQ WR IROORZ RUGHUV GLUHFWO\ $ &RQIHGHUDWH RIILFHU VSRNH RI KLV RZQ GHVLUH WR HPXODWH WKH DFWLRQ RI WKH EHVW PHQ RQ WKH ILHOG E\ KLV IHDUOHVVQHVV -DFNVRQ SHUVXDGHG PRUH RI KLV VROGLHUV WKDQ GLG DQ\ RWKHU LQ GLUHFW FRPPDQG RI ILHOG IRUFHV WKDW KH ZDV WKH EHVW PDQ RQ WKH ILHOG /LQGHUPDQ f $V /LQGHUPDQ SRLQWV RXW UDQNDQGILOH VROGLHUV UDUHO\ HTXDWHG UDQN WR KRQRU RU PDQOLQHVV ,W ZDV DV LI RIILFHUV ZHUH UHTXLUHG WR EDQN FRXUDJH ZLWK WKHLU GHSRVLWV FRPSHOOLQJ HTXDO FRQWULEXWLRQV E\ WKH PHQ DQG WKH MRLQW EDODQFHV WKHQ EHFRPLQJ DYDLODEOH WR RIILFHUV WR GUDZ GRZQ ZKHQ WKH\ WKRXJKW WKHP UHTXLUHG /LQGHUPDQ DVVHUWV f :KHUHDV 0LVV 0 UHIXVHG WR VHH WKH ZRXQGV RI WKH VROGLHUV LQ RUGHU WR VXVWDLQ WKHLU PDQKRRG HQOLVWHG PHQ DW WKH IURQW QHHGHG WR VHH WKH PDQKRRG RI WKHLU FRPPDQGLQJ RIILFHUV +RQRU UHTXLUHG D SXEOLF SHUIRUPDQFH VR WRR GLG WKH PDQKRRG RI WKRVH PHQ ZKR UHSUHVHQWHG PRVW GLUHFWO\ WKH &RQIHGHUDWH QDWLRQ 7KH GHDWKV RI SURPLQHQW &RQIHGHUDWH OHDGHUV QRW RQO\ VQXIIHG RXW PRGHOV RI DSSURSULDWH PDQKRRG EXW DOVR FUHDWHG GRXEWV LQ WKH PLQGV RI VROGLHUV DERXW WKHLU RZQ FDSDFLWLHV )RU H[DPSOH -DFNVRQnV GHDWK RQ 0D\ IURP ZRXQGV UHFHLYHG DW WKH EDWWOH RI &KDQFHOORUVYLOOH FDXVHG WKH VROGLHUV RI KLV UHJLPHQW WR SURSKHV\ WKH GHIHDW RI WKH &RQIHGHUDF\ $ JUHDW PDQ\ RI RXU ER\V VDLG WKHQ RXU VWDU RI GHVWLQ\ ZRXOG IDGH DQG WKDW RXU FDXVH ZRXOG EH ORVW ZLWKRXW -DFNVRQ DV WKHUH ZDV QR *HQHUDO ZKR FRXOG H[HFXWH D IODQN PRYHPHQW ZLWK VR PXFK VHFUHF\ DQG VXUSULVH DV KH FRXOG HDVLHU f

PAGE 43

:ULWLQJ KLV UHPLQLVFHQFHV RI WKH ZDU -RKQ HDVLHU D PHPEHU RI -DFNVRQnV UHJLPHQW DGPLWWHG WKDW 7KURXJK WKH GHVWLQ\ RI D QDWLRQ PD\ DSSHDU WR EH LQ RQH PDQnV KDQGV VRPHWLPHV \HW WKHUH LV 2QH DERYH DOO ZKR FRQWUROV ERWK PHQ DQG QDWLRQV f 6WLOO WKH GHDWK RI -DFNVRQ KDG D GHPRUDOL]LQJ HIIHFW RQ KLV PHQ +DYLQJ EHOLHYHG WKDW *RG ZDV RQ WKHLU VLGH &RQIHGHUDWH WURRSV FRQWLQXDOO\ ZLWQHVVHG HYLGHQFH VHHPLQJO\ WR WKH FRQWUDU\ 'RXEW FUHHSHG LQ LQ RWKHU ZD\V DV ZHOO 7KH UKHWRULF RI 6RXWKHUQ PDQKRRG GLFWDWHG DQ DJJUHVVLYH UHFNOHVV VW\OH RI ILJKWLQJ EXW WKH H[LJHQFLHV RI ZDU IUHTXHQWO\ GLG QRW FRQGXFH WR VXFK D VW\OH /DFNLQJ VXSSOLHV PDQSRZHU DQG WHFKQRORJ\ &RQIHGHUDWH PLOLWDU\ OHDGHUV UHVRUWHG WR D PRVWO\ GHIHQVLYH VWUDWHJ\ RQH WKDW VHHPHG WR PDQ\ WR EH XQPDQO\ DP WLUHG RI GRLQJ QRWKLQJ 6HUJHDQW (GZLQ + )D\ FRQILGHG WR KLV ZLIH LQ D OHWWHU GDWHG 1RYHPEHU ZDQW DQ RSSRUWXQLW\ RI NLOOLQJ WKH GDPQDEOH YLOODLQV ZKR SROOXWH RXU ODQG )D\ f )D\nV ODQJXDJH PLUURUV WKDW XVHG E\ 1XJHQW DQG 3HQGHS FKDUDFWHUL]LQJ WKH
PAGE 44

ZDQWHG WKH RSSRUWXQLW\ WR EH UHFNOHVV DQG IXOILOO WKH UKHWRULFDO VWDQGDUG RI WKH 6RXWKHUQ PDQ %XW KH DQG PDQ\ RWKHU VROGLHUV FDPH WR UHFRJQL]H WKDW WKHLU QDWLRQnV UKHWRULFDO FRQVWUXFW KDG VLPSOLILHG WKH FRQGLWLRQV RI ZDU DQG SHUKDSV KDG XQGHUHVWLPDWHG WKH FDSDFLW\ RI WKH
PAGE 45

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f %HFDXVH WKHLU VHOILPDJH ZDV QRW GLUHFWO\ FRQQHFWHG WR WKH VXFFHVV RI WKH &RQIHGHUDWH QDWLRQ WKH SHRSOH DW WKH KRPHIURQW GLG QRW KDYH DV PXFK RI D FRPPLWPHQW WR VXVWDLQLQJ LW 0DUWKD 5HYLV D \RXQJ 1RUWK &DUROLQD ZRPDQ UHSRUWHG WR KHU KXVEDQG LQ D OHWWHU GDWHG -XO\ WKDW 7KH SHRSOH LV DOO WXUQLQJ WR 8QLRQ KHUH VLQFH WKH
PAGE 46

&RXVHn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t SRRU PDQV ILJKW
PAGE 47

0DU\ WKH OHWWHUn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f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

PAGE 48

GHWHUPLQDWLRQ XSRQ WKH SDUW RI KXQGUHGV WR ILJKW QR PRUH DQG D VKDPHOHVV LQGLIIHUHQFH DV WR ZKHWKHU WKH ZRUOG NQRZV LW RU QRW %\ WKHVH VLJQV PRUH WKDQ E\ DQ\ RWKHUV VHHP WR IHHO WKDW WKH 5HSXEOLF LV GHVSDLUHG RI f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f &RQWLQXLQJ ZLWK WKLV WUDLQ RI WKRXJKW )OHHW WROG WKH VWRU\ RI D &RQIHGHUDWH RIILFHU DQG KLV UHDFWLRQ WR WKH FRQFOXVLRQ RI WKH ZDU +H IRXJKW IRU IRXU \HDUV DV D FDYDOU\ RIILFHU DQG FDPH KRPH WR GHYDVWDWLRQ DQG GHVRODWLRQ EXW JRW KROG RI D PXOH ZKLFK KH KLWFKHG WR D SORZ DV EHVW KH FRXOG 3URFHHG KH VKRXWHG 1RWKLQJ KDSSHQHG $GYDQFH $JDLQ QRWKLQJ KDSSHQHG 6LQNLQJ WR KLV NQHHV KH VDLG /RUG ZK\ ZDVQnW NLOOHG DW WKH 6HFRQG %DWWOH RI 0DQDVVDV )OHHW f +DYLQJ ORVW KLV EHOLHI LQ WKH VXSHULRULW\ RI 6RXWKHUQ PDQKRRG ZKHQ WKH ZDU ZDV ORVW WKLV VROGLHU QRZ H[SHULHQFHG D IXUWKHU HURVLRQ RI KLV PDVWHU\ ZKHQ WKH PXOH ZRXOG QRW HYHQ REH\ KLV

PAGE 49

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f +ROPHVnV IULHQG 0DU\ &KHVQXW GHFODUHG WKDW WKRXJK WKH PHQ ZHUH EHDULQJ XS XQGHU WKH EXUGHQ RI GHIHDW ZHOO RQH VXEMHFW ZDV QRW EURDFKHG 2I WKH FRXQWU\ ZH WU\ QRW WR VSHDN DW DOO f 7KH ZDU QRW RQO\ GHSULYHG WKHVH ZRXOGEH UXOHUV RI WKHLU GHVLUHG QDWLRQ EXW DOVR FRVW WKHP WKHLU VRYHUHLJQW\ DQG WKHLU VODYHV WKH RQH JURXS WKDW WKH\ KDG VXFFHVVIXOO\ UXOHG RYHU 7KH FRQILGHQFH H[SUHVVHG E\ VHFHVVLRQLVWV OHDGLQJ XS WR WKH ZDU ZDV UHSODFHG E\ D SHUYDVLYH VHQVH RI GHVSDLU DQG LQDGHTXDF\ )RUPHU 6RXWK &DUROLQD *RYHUQRU )UDQFLV 3LFNHQV DW WKH FRQYHQWLRQ WR UHZULWH WKH VWDWH FRQVWLWXWLRQ FKDVWL]HG WKRVH XQUHSHQWDQW &RQIHGHUDWHV ZKR VWLOO ZLVKHG WR DJLWDWH ,W GRHV QnW EHFRPH 6RXWK &DUROLQD WR YDSRU RU VZHOO RU VWUXW RU EUDJ RU EOXVWHU RU WKUHDW RU VZDJJHU VKH SRLQWV

PAGE 50

WR KHU EXUQHG FLWLHV KHU GHVRODWH SODQWDWLRQV KHU PRXUQLQJ KHDUWKV KHU XQQXPEHUHG JUDYHV KHU ZLGRZV DQG KHU RUSKDQV KHU RZQ WRUQ DQG EOHHGLQJ ERG\f§WKLV VKH VD\V LV WKH ZRUN RI ZDU DQG VKH ELGV XV ELQG XS KHU ZRXQGV DQG SRXU LQ WKH RLO RI SHDFHf§ELGV XV FRYHU KHU JUHDW QDNHGQHVV DQG ZH PXVW GR LW HYHQ LI LW QHHGV WKDW LQ VR GRLQJ ZH JR EDFNZDUGV $QGUHZV f 3LFNHQVn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
PAGE 51

VXEMHFWV LQWR FRQWDFW ZLWK WKH ODFN WUDGLWLRQDOO\ DVVRFLDWHG ZLWK WKH IHPLQLQH 7KDW WUDXPD VXUIDFHV LQ WKH IRUP WKDW ZLOO KHQFHIRUWK SURYH GHFLVLYH GXULQJ WKH FDVWUDWLRQ FRPSOH[ LW PDQLIHVWV LWVHOI WKDW LV LQ WKH JXLVH RI WKH DQDWRPLFDO ODFN WR ZKLFK WKH IHPDOH ERG\ LV VXEVXPHG DQG ZLWK ZKLFK WKH PDOH ERG\ LV WKUHDWHQHG 3K\VLFDO FDVWUDWLRQ FRQVHTXHQWO\ SURYLGHV WKH IRUP WKURXJK ZKLFK WKH VXEMHFW LV LGHRORJLFDOO\ HQFRXUDJHG WR OLYHf§RU QRW WR OLYHf§WKH ORVV RI EHLQJ DQG DOO VXEVHTXHQW FULVHV WKDW FRXOG UHSULVH WKDW ORVV ,W LV QRW VXUSULVLQJ WKHQ WKDW ZKHQ WKH PDOH VXEMHFW LV EURXJKW LQWR D WUDXPDWLF HQFRXQWHU ZLWK ODFN DV LQ WKH VLWXDWLRQ RI ZDU KH RIWHQ H[SHULHQFHV LW DV WKH LPSDLUPHQW RI KLV DQDWRPLFDO PDVFXOLQLW\ :KDW LV UHDOO\ DW LVVXH WKRXJK LV D SV\FKLF GLVLQWHJUDWLRQf§WKH GLVLQWHJUDWLRQ WKDW LV RI D ERXQG DQG DUPRUHG HJR SUHGLFDWHG XSRQ WKH LOOXVLRQ RI FRKHUHQFH DQG FRQWURO 0DOH 6XEMHFWLYLW\ f 3LFNHQV VHHNV WR OHDG RII WKDW SV\FKLF GLVLQWHJUDWLRQ DQG UHVWRUH WKH LOOXVLRQ RI FRKHUHQFH DQG FRQWURO E\ GHIOHFWLQJ WKH LVVXH RI ODFN IURP WKH 6RXWKHUQ PDQ /LNH 0LVV 0 ZKR DWWHPSWHG WR UHVWRUH FUHGLELOLW\ WR WKH UKHWRULF RI VXSHULRU 6RXWKHUQ PDQKRRG E\ QRW VHHLQJ WKH ZRXQGV RI WKH VROGLHUV VKH YLVLWHG 3LFNHQV FKRRVHV WR YLVLW WKH ODFN SURGXFHG E\ WKH ZDU XSRQ WKH VLWH WKDW LGHRORJLFDOO\ VSHDNLQJ KDG DOZD\V NQRZQ LWf§WKH IHPLQLQH 7KXV 3LFNHQVnV GHQXQFLDWLRQ RI WKH +ROFRPEH YHUVLRQ RI 6RXWKHUQ PDVFXOLQLW\ LV DQ HIIRUW WR GLVDUP WKH UKHWRULF WKDW ZRXOG EHFDXVH RI WKH UHVXOW RI WKH ZDU FRQVWDQWO\ SRLQW EDFN WR 6RXWKHUQ PDOH ODFN +H LQVWHDG WULHV WR FRQVROLGDWH WKH FROOHFWLYH 6RXWKHUQ PDOH SV\FKH RQH RI PDQ\ DWWHPSWV DW VXFK D UHFRQVWUXFWLRQ LQ WKH DIWHUPDWK RI WKH ZDU 7KHVH HIIRUWV DFKLHYH VXFFHVV RQO\ ZKHQ D FRPSRQHQW SDUW RI WKH UHFRQVROLGDWLRQ EHFRPHV WKH LGHD RI WKH 6RXWKHUQ QDWLRQ

PAGE 52

-HII LQ 3HWWL FRDWV 3LFNHQVn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f§KROG LW DV D FRQTXHUHG SURYLQFH RU UHVWRUH LW DW RQFH WR IXOO FRPPXQLRQ LQ WKH VLVWHUKRRG RI 6WDWHV 7KH ZDU VSLULW LV JRQH DQG QR IXU\ FDQ UHHQOLYHQ LW f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

PAGE 53

$QRWKHU IDYRULWH WDUJHW IRU DWWDFNV RQ 6RXWKHUQ PDQKRRG ZDV -HIIHUVRQ 'DYLV ZKR DV WKH 1HZ -HIIHUVRQ 'DYLV@ KDVWLO\ SXW RQ RQH RI 0UV 'DYLVn GUHVVHV DQG VWDUWHG IRU WKH ZRRGV FORVHO\ SXUVXHG E\ RXU PHQ ZKR DW ILUVW WKRXJKW KLP D ZRPDQ EXW VHHLQJ KLV ERRWV ZKLOH UXQQLQJ VXVSHFWHG KLV VH[ DW RQFH 7KH UDFH ZDV D VKRUW RQH DQG WKH UHEHO 3UHVLGHQW ZDV VRRQ EURXJKW WR ED\ +H H[SUHVVHG JUHDW LQGLJQDWLRQ DW WKH HQHUJ\ ZLWK ZKLFK KH ZDV SXUVXHG VD\LQJ WKDW KH KDG EHOLHYHG RXU *RYHUQPHQW PRUH PDJQDQLPRXV WKDQ WR KXQW GRZQ ZRPHQ DQG FKLOGUHQ TXRWHG LQ 1 6LOEHU f :KHWKHU RU QRW WKH &RQIHGHUDWH SUHVLGHQW ZDV ZHDULQJ D GUHVV LV D PDWWHU RSHQ WR VRPH LQWHUSUHWDWLRQ 6WLOO DW OHDVW DFFRUGLQJ WR WKLV UHSRUW 'DYLV VHHPV WR DIILUP KLV HIIHPLQDF\ DQG ODFN RI SRZHU ZKHQ KH JURXSV KLPVHOI ZLWK ZRPHQ DQG FKLOGUHQ 3ROLWLFDO FDUWRRQLVWV KDG JUHDW IXQ ZLWK WKH LGHD DQG DQ HQWHUSULVLQJ VRQJZULWHU +HQU\ 7XFNHU SHQQHG D VRQJ WR PHPRULDOL]H 'DYLVnV FDSWXUH FDOOHG -HII LQ 3HWWLFRDWV 7XFNHU OLNH WKH GLVSDWFK LQ WKH 1HZ
PAGE 54

WR EH SXQLVKHG 7XFNHUnV ODQJXDJH DOVR XQGHUFXWV WKH WHUP KHUR XVHG LQ WKH ILUVW OLQH 'DYLV DQG FRQVHTXHQWO\ DOO WKH 6RXWKHUQ PHQ KH UHSUHVHQWHG ZHUH QR EHWWHU WKDQ ER\V ZKHQ FRPSDUHG WR 1RUWKHUQ PHQ 7XFNHU IXUWKHU HPSKDVL]HV 'DYLVnV ODFN RI HIILFDF\ WKURXJK KLV IHPLQL]DWLRQ -XVW DV 6RXWKHUQ VHFHVVLRQLVWV KDG GRXEWHG WKH WUXWKIXOQHVV RI 1RUWKHUQ PDVFXOLQLW\ 7XFNHU FDOOV LQWR TXHVWLRQ WKH PDQKRRG RI WKH &RQIHGHUDF\nV OHDGHU LQ WKH ODVW VWDQ]D RI WKH VRQJ 7KH GLWFK WKDW -HII ZDV KXQWLQJ IRU +H IRXQG ZDV YHU\ QHDU +H WULHG WR VKLIW KLV EDVH DJDLQ +LV QHFN IHOW UDWKHU TXHHU -XVW RQ WKH RXW VNLUWV RI D ZRRG +LV GDLQW\ VKDSH ZDV VHHQ +LV ERRWV VWXFN RXW DQG QRZ WKH\nOO KDQJ 2OG -HII LQ FULQROLQH 6LOEHU f 7XFNHUnV SXQ RQ VNLUW DQG KLV UHIHUHQFH WR 'DYLVnV GDLQW\ VKDSH ZRUN WRZDUG D IHPLQL]DWLRQ RI 'DYLV DQG WKH ZKROH &RQIHGHUDF\ %XW LQ KLV HPSKDVLV RQ 'DYLVnV VKLIW DQG KLV IHHOLQJ TXHHU 7XFNHU KLQWV LQ D QRW YHU\ VXEWOH ZD\ DW 'DYLVnV SRVVLEOH KRPRVH[XDOLW\ 2QFH DJDLQ WKH VWDQGDUG IRU PDVFXOLQLW\ LV FRGHG DV KHWHURVH[XDO 'DYLVnV FURVVGUHVVLQJ EUHHFKHG WKDW VWDQGDUG DQG VXJJHVWHG D FRUUXSW DQG LPPRUDO &RQIHGHUDF\ $V WKH LQLWLDO VKRFN RI GHIHDW EHJDQ WR ZHDU RII RWKHU SURPLQHQW 6RXWKHUQHUV EHJDQ D UHHYDOXDWLRQ RI WKH ZDU HIIRUW DQG LWV PHDQLQJ IRU ZKLWH 6RXWKHUQ PDQKRRG % 'H%RZ EHJDQ D VHULHV RI DUWLFOHV HQWLWOHG LQ 7LPHV LQ WKH &RQIHGHUDF\ WR UHIXWH ZKDW KH VDZ DV VFXUULORXV DWWDFNV RQ

PAGE 55

WKH 6RXWKHUQ SHRSOH ,Q WKH ILIWK DUWLFOH RI WKLV VHULHV SXEOLVKHG LQ )HEUXDU\ 'H%RZ WULHG WR UHYLVH WKH YLHZ WKDW KDG GHYHORSHG RI &RIHGHUDWH VROGLHUV DV EUXWHV ODJJDUGV DQG FRZDUGV VROGLHUV@ LQ WKH KLJKZD\V ZDONLQJ LQ VTXDGV ZLWK WKHLU KHDY\ EXUGHQV WR WKHLU GLVWDQW KRPHV XSRQ IXUORXJK RU UHWXUQLQJ SURPSWO\ WR WKHLU FRPPDQGV
PAGE 56

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f ,Q D ODWHU VFHQH 'DYLV WULHV WR ZUHVWOH DZD\ D PXVNHW IURP RQH RI KLV JXDUGV .LOO PH .LOO PH 'DYLV VKRXWV UDWKHU WKDQ LQIOLFW RQ PH DQG RQ P\ SHRSOH WKURXJK PH WKLV LQVXOW ZRUVH WKDQ GHDWK 'DYLV LV SRUWUD\HG QRW DV D FURVVGUHVVLQJ ZLPS RU D FORVHW KRPRVH[XDO EXW DV D PDQ GHIHQGLQJ KLV DQG DV KH LV SXUSRUWHG WR KDYH VDLG KLV QDWLRQnV KRQRU :KHUHDV 1RUWKHUQ ZULWHUV VRXJKW WR XVH -HIIHUVRQ 'DYLV DV D V\PERO RI 6RXWKHUQ VXEPLVVLRQ XQUHSHQWDQW &RQIHGHUDWHV XWLOL]HG WKHLU IRUPHU SUHVLGHQW QRW RQO\ DV D V\PERO RI WKH FRQWLQXLQJ KRQRU DQG VWUHQJWK RI 6RXWKHUQ PHQ EXW DOVR DV WKH EHJLQQLQJ RI WKH DUJXPHQW DJDLQVW 1RUWKHUQ RFFXSDWLRQ 'DYLVnV XQZLOOLQJQHVV WR EH ERXQG VHWV RII D VWURQJ 8QLRQ UHVSRQVHf§IRXU VROGLHUV FRPH LQWR KLV FHOO WR VXEGXH KLP ,Q D PRPHQW 0U 'DYLV ZDV IOXQJ XSRQ KLV EHG DQG EHIRUH KLV IRXU SRZHUIXO DVVDLODQWV UHPRYHG WKHLU KDQGV IURP KLP WKH EODFNVPLWK DQG KLV DVVLVWDQW KDG GRQH WKHLU ZRUNf§RQH VHFXULQJ WKH ULYHW RQ WKH ULJKW DQNOH ZKLOH WKH RWKHU WXUQHG WKH NH\ LQ WKH SDGORFN RQ WKH OHIW f )RU WKRVH IRUPHU &RQIHGHUDWHV VWLOO HPELWWHUHG E\ GHIHDW 'DYLV DQG KLV URXJK WUHDWPHQW DW WKH KDQGV RI KLV 8QLRQ RSSUHVVRUV EHFDPH D NLQG RI PHWRQ\P IRU WKH FRQGLWLRQ RI WKH

PAGE 57

6RXWK 6KDFNOHG E\ WKH 1RUWKHUQ PLOLWDU\ DQG HFRQRPLF FRQWURO PDQ\ 6RXWKHUQHUV IHDUHG KDUVK UHXQLRQ WHUPV 6WLOO WKRXJK VXSHULRU 1RUWKHUQ SRZHU FRXOG VKDFNOH WKH 6RXWK LW FRXOG QRW GHVWUR\ LWV VSLULW MXVW DV 'DYLVn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f§SROLWLFDO IRUHVLJKW ILQDQFLDO SROLF\ GLSORPDF\ PLOLWDU\ DGPLQLVWUDWLRQ SULQFLSOHV RI FRQVWLWXWLRQDO JRYHUQPHQW DQG JHQHUDO VWUDWHJ\f§WKH DXWKRUV RI WKH DUWLFOHV ODLG WKH EODPH IRU &RQIHGHUDWH GHIHDW DW WKH GRRUVWHS RI WKH 'DYLV $GPLQLVWUDWLRQ 'DYLV EHFRPHV D GLUHFW WDUJHW RI FULWLFLVP ZKHQ WKH DXWKRUV RI %OXQGHUV GLVFXVV WKH PLOLWDU\ SUHSDUHGQHVV RI WKH &RQIHGHUDF\ $V WKH OHDGHU RI WKH 6RXWKHUQ QDWLRQ 'DYLV ZDV UHVSRQVLEOH IRU SURYLGLQJ KLV PHQ ZLWK DOO RI WKH PDWHULDO WKH\ QHHGHG WR ZLQ WKH ZDU 7KH DXWKRUV SURYLGH DQ DQHFGRWH ZKLFK LQ WKHLU MXGJPHQW VKRZHG WKDW UDWKHU WKDQ EODPH

PAGE 58

6RXWKHUQ PHQ IRU GHIHDW 'DYLV ZDV WR EODPH EHFDXVH KH VLPSO\ GLG QRW XQGHUVWDQG ZKDW ILJKWLQJ D ZDU LQYROYHG :KLOH &RQJUHVV ZDV LQ VHVVLRQ DW 0RQWJRPHU\ 3UHVLGHQW 'DYLV DVNHG *HQHUDO +HQQLQJVHQ KRZ PXFK SRZGHU KH WKRXJKW VKRXOG EH SURYLGHG DJDLQVW WKH HPHUJHQF\ 7KH *HQHUDO VXJJHVWHG SRXQGV DQG WKH 3UHVLGHQW ODXJKHG DW KLV H[WUDYDJDQW HVWLPDWH
PAGE 59

6RXWKHUQ WKLQNHUV EHJDQ WKHLU RZQ UHFRQVWUXFWLRQ DQG WKH ILFWLRQ SURGXFHG LQ WKH SRVWZDU 6RXWK SURYLGHG D NH\ YHQXH IRU WKH UHFRQILJXUDWLRQ RI WKH LPDJLQHG FRPPXQLW\ RI WKH 6RXWKHUQ QDWLRQ 7KLV UHFRQVWUXFWLRQ ZDV \HW DQRWKHU DWWHPSW RQ WKH SDUW RI WKRVH 6RXWKHUQHUV ZKR SHUFHLYHG WKHPVHOYHV DQG WKHLU UHJLRQ WR EH GLIIHUHQW IURP WKH UHVW RI WKH FRXQWU\ WR FRPH WR JULSV ZLWK D ZRUOG WKDW WKH\ IHDUHG DQG GLG QRW XQGHUVWDQG ,Q *HHUW]LDQ WHUPV WKH LGHD RI WKH 6RXWKHUQ QDWLRQ SURYLGHG WKH LGHRORJ\ WR PDNH WKHLU VLWXDWLRQ FRPSUHKHQVLEOH 127(6 [7KH EHVW RYHUYLHZ RI WKH FUHDWLRQ DQG FLUFXODWLRQ RI WKH FDYDOLHU P\WK UHPDLQV :LOOLDP 7D\ORUnV &DYDOLHU DQG WKHLU@ GHYHORSPHQW DQG ZKDW NLQG RI PHQ DQG ZRPHQ FRQWULEXWHG WR >WKHLU@ JURZWK DQG GLVVHPLQDWLRQf§ZKDW VRUW RI PHQWDOLW\ LQ RWKHU ZRUGV FUHDWHG WKLV OHJHQGDU\ SDVW DQG WKLV ILFWLRQDO VRFLRORJ\ DQG ZKDW VRUW RI QHHGV LW VDWLVLILHG [YLf 7D\ORUnV DQDO\VLV LV *HHUW]LDQ LQ WKDW KH WUDFHV WKH QHHG IRU WKHVH P\WKV WR DQ[LHW\ RI 6RXWKHUQHUV FRQFHUQLQJ WKHLU SROLWLFDO SODFH LQ WKH QDWLRQ DV ZHVWZDUG H[SDQVLRQ DQG WKH JURZWK RI DEROLWLRQLVW VHQWLPHQW VHHPLQJO\ LPSHULOHG WKH LQVWLWXWLRQ RI VODYHU\ 7KH FDYDOLHU P\WK KHOSHG PDNH DQ LQFRPSUHKHQVLEOH VLWXDWLRQ PDNH VHQVH 6HH 7D\ORU &DYDOLHU DQG
PAGE 60

LW WUDQVIRUPV WKHP DOOf E\ WKDW YHU\ SUHFLVH RSHUDWLRQ ZKLFK KDYH FDOOHG LQWHUSHOODWLRQ RU KDLOLQJ DQG ZKLFK FDQ EH LPDJLQHG DORQJ WKH OLQHV RI WKH PRVW FRPPRQSODFH HYHU\GD\ SROLFH RU RWKHUf KDLOLQJ +H\ \RX WKHUH f :KDW :\DWW%URZQ LGHQWLILHV ZKHQ KH WDONV DERXW KRQRU LV WKDW LGHRORJ\ ZKLFK KDV UHFUXLWHG RU WUDQVIRUPHG 6RXWKHUQHUV LQWR 6RXWKHUQHUV LH QRW1RUWKHUQHUV RU LQ P\ IRUPXODWLRQ XQ
PAGE 61

2Q WKH FRQWUDU\ KH KDV LW RQO\ WR WKH H[WHQW WKDW KH KDV JLYHQ LW XS EHIRUHKDQG E\ LQFXUULQJ V\PEROLF FDVWUDWLRQ WKH SKDOOXV LV D WLWOH ZKLFK KH KDV UHFHLYHG VR WKDW KH FDQ EHVWRZ LW LQ DFFRUG ZLWK V\PEROLF SDFW DQG ODZ ,Q RWKHU ZRUGV WKH SKDOOXV PD\ YHU\ ZHOO H[SUHVV PDVFXOLQH SRZHU WKH SRZHU WKDW XOWLPDWHO\ H[SODLQV ZK\ ZRPHQ GR QRW H[FKDQJH PHQSKDOOXVHVf EXW LW GRHV VR RQO\ V\PEROLFDOO\ WKDW LV ZH PXVW XQGHUVWDQG QRW VH[XDOO\f 7KH SKDOOXV LV WKH SHQLV DQQXOOHGFDVWUDWHGUDLVHG WR WKH IXQFWLRQ RI VFHSWHU RI LQKHULWHG VLJQLILHU ZKLFK LV SDVVHG RQ DFFRUGLQJ WR WKH ODZ RI H[FKDQJH DQG NLQVKLS f 7KH FRQQHFWLRQ EHWZHHQ WKH QDWLRQ ZKLFK KDYH GHVLJQDWHG DV WKH SKDOOXV DQG LWV PHQ EHFRPHV VRPHZKDW FOHDUHU 7KH UKHWRULF RI VHFHVVLRQ GHSOR\HG WZR LQWHUUHODWHG WURSHVf§WKH LGHD RI D 6RXWKHUQ QDWLRQ DQG WKH LGHD RI D 6RXWKHUQ PDQ 7KH LPDJLQHG QDWLRQ SRVLWV LWVHOI DV WKH XOWLPDWH GHVLUH RI D 6RXWKHUQ PDQ DW WKH VDPH WLPH WKDW LW RUJDQL]HV WKDW PDQnV DSSURSULDWH GHVLUHV 7KXV WKH LPDJLQHG &RQIHGHUDF\ FRXOG PDLQWDLQ LWV SRVLWLRQ DV XOWLPDWH DUELWHU RI WUXH 6RXWKHUQ PHQ LW FRXOG PDLQWDLQ VXFK PHQnV EHOLHI LQ LWV SULPDF\ DQG QHFHVVLW\ %RUFK-DFREVHQ IXUWKHU LOOXVWUDWHV WKH PHWKRG E\ ZKLFK WKH SKDOOXV ILJXUHV LQ LGHQWLW\ IRUPDWLRQ 7KH FKLOG WKH ER\f UHDOO\ GRHV FRQWLQXH WR EH WKH SKDOOXV LQVRIDU DV KH LGHQWLILHV ZLWK WKH RQH ZKR KDV LW 7KH RQO\ GLIIHUHQFH LV WKDW QRZ KH LV LW E\ QRW EHLQJ LW LQVRIDU DV KH LGHQWLILHV QRW ZLWK WKH REMHFW EXW ZLWK WKH VLJQLILHU RI WKH GHVLUH RI WKH PRWKHUf§QDPHO\ ZLWK WKH REMHFW QHJDWHG E\ WKH SDWHUQDO QR ,Q VKRUW KH LV D QRREMHFW LQ RWKHU ZRUGV D VXEMHFW KH GHVLUHV KLPVHOI EH\RQG KLPVHOI VXFK DV KH LV QRW $W SUHVHQW WKH SKDOOXV LV WKH VLJQLILHU RI KLV GHVLUHf§WKDW LV RI WKH QRQREMHFW WKDW KH LV RU ZKDW DPRXQWV WR WKH VDPH WKLQJ RI WKH REMHFW WKDW KH LV QRWf IRU WKH GHVLUH RI WKH RWKHU 2U DJDLQ WKH SKDOOXV LV WKH VLJQLILHU RI WKH VXEMHFW LQVRIDU DV WKH VXEMHFW LGHQWLILHV KLPVHOI LQ LW UHSUHVHQWV KLV LGHQWLW\ LQ LWf XQGHU HUDVXUH LQ WKH PRGH RI D IRUELGGHQ EDUUHG UHSUHVVHG LGHQWLILFDWLRQ WKH VXEMHFW LV WKH SKDOOXV LQVRIDU DV KH LV QRW LW LQVRIDU DV KH PHWDSKRUL]HV KLPVHOI LQ LW DQG GHIHUV KLV RZQ LGHQWLW\ LQ LW f 7KH SKDOOXV WKXV EHFRPHV WKH XOWLPDWH VLJQLILHU DQG WKH VXEMHFW VXFK DV WKH 6RXWKHUQ PDQf LV VLPXOWDQHRXVO\ QRW WKH SKDOOXV EXW GHIHUV KLV RZQ LGHQWLW\ LQ LW ,Q WKLV ZD\ WKH SKDOOXV LV SHUSHWXDWHG SHUSHWXDWHV LWVHOI"f DV WKH XOWLPDWH VLJQLILHU E\ LWV FDSDFLW\ WR FDXVH VXEMHFWV WR GHIHU WR LW ,Q WKH FDVH RI WKH 6RXWKHUQ QDWLRQ WKH LGHD RI WKH QDWLRQ

PAGE 62

UHWDLQHG WKH VWDWXV RI SKDOOXV RQO\ DV ORQJ DV LW VHHPHG D YLDEOH ODZ $V WKH ZDU GUDJJHG RQ DQG WKH QDWLRQ SURYHG LQFUHDVLQJO\ LQFDSDEOH RI VXVWDLQLQJ LWVHOI DV WKH XOWLPDWH VLJQLIHU 6RXWKHUQ PHQ QR ORQJHU IHOW ERXQG WR WKH QDWLLRQ QR ORQJHU GHIHUUHG WR LW WR VXVWDLQ WKHLU LGHQWLW\ DV PHQ 7KXV ZLWK WKH OLQN EHWZHHQ QDWLRQ DQG PDQOLQHVV EURNHQ PDQ\ VROGLHUV GHVHUWHG ZLWK QR IHDU RI EHLQJ EUDQGHG XQPDQO\ 6HH -DFTXHV /DFDQ (FULWV $ 6HOHFWLRQ 1HZ
PAGE 63

HPDVFXODWHG ZKLOH 1RUWKHUQ PHQ ZHUH YLULOH 8OWLPDWHO\ 6RXWKHUQ ZULWHUV UHFXUUHG EDFN WR WKH RULJLQ RI WKH &RQIHGHUDF\ WR WU\ DQG UHIXWH WKLV 1RUWKHUQ ULGLFXOH DQG VXEMXJDWLRQ 6HH 6LOEHU ,QWHPSHUDWH 0HQ 6SLWHIXO :RPHQ DQG -HIIHUVRQ 'DYLV 1RUWKHUQ 9LHZV RI WKH 'HIHDWHG 6RXWK $PHULFDQ 4XDUWHUO\ 'HFHPEHU f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f ,Q SRVLWLQJ WKH 'DYLV JRYHUQPHQW DV WKH UHDO ZHDNQHVV GXULQJ WKH ZDU &RQIHGHUDWH V\PSDWKL]HUV FRXOG UHPDVFXOLQL]H 6RXWKHUQ PHQ 0XFK RI WKH ILFWLRQ ZULWWHQ E\ 6RXWKHUQHUV LQ WKH SRVWEHOOXP SHULRG ZKHWKHU LW DFNQRZOHGJHG WKH ZDU RU QRW VHUYHG WKLV LGHRORJLFDO SXUSRVH DV ZHOO 7KLV ILFWLRQ ZLOO EH GLVFXVVHG LQ ODWHU FKDSWHUV 6HH -HIIRUGV 7KH 5HPDVFXOLQL]DWLRQ RI $PHULFD %ORRPLQJWRQ ,QGLDQD 8QLYHUVLW\ 3UHVV f SDUWLFXODUO\ SS

PAGE 64

&+$37(5 3(5)250,1* &21)('(5$7( 1$7,21$/,60 :+,7( :20(1n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f :RROI VXJJHVWV WKDW LQ HQODUJLQJ PHQ ZRPHQ IXHO PDOH QDUFLVVLVP ZKLFK VKH VHHV DV D QHFHVVDU\ FRPSRQHQW RI WKH GULYH IRU SRZHU 7R IDFLOLWDWH DQG VXVWDLQ VXFK HQODUJHPHQW ZRPHQ KDG WR DFFHSW D SRVLWLRQ RI LQIHULRULW\ 7KHLU VHUYLFH WR WKH VWDWH UHTXLUHG VXEPLVVLRQ DQG SDVVLYLW\ +DOI D FHQWXU\ ODWHU LQ KLV LQYHVWLJDWLRQ RI WKH URRWV RI *HUPDQ QDWLRQDOLVP OHDGLQJ WR WKH 7KLUG 5HLFK *HRUJH / 0RVVH ZKLOH DJUHHLQJ ZLWK :RROInV EDVLF FRQFOXVLRQ H[WHQGV WKLV GLVFXVVLRQ WR LQFOXGH KLV DVVHVVPHQW RI KRZ ZRPHQ KDG VSHFLILF UROHV WR SOD\ LQ WKH FUHDWLRQ DQG PDLQWHQDQFH RI

PAGE 65

QDWLRQDO VSLULW 0RVVH QRWHV WKH GLVWLQFW UROH WKDW QDWLRQDOLVP HQIRUFHG RQ ZRPHQ ,W DOPRVW VHHPV DV LI ZRPHQ ZHUH WUDQVIRUPHG LQWR VWDWLF LPPXWDEOH V\PEROV LQ RUGHU WR FRPPDQG WKH DGPLUDWLRQ RI WUXO\ PDVFXOLQH PHQ f :RPHQ EHFDPH WRROV WR KHOS GLVWLQJXLVK WUXO\ PDVFXOLQH PHQ IURP WKRVH ZKR ZHUH ZHDN DQG KHQFH XVHOHVV WR WKH QDWLRQ :RPHQ DOVR SURYLGHG ERGLHV WKDW QHHGHG SURWHFWLQJ 0RVVH TXRWHV 5HEHFFD IURP 6LU :DOWHU 6FRWWnV ,YDQKRH WR PDNH WKLV SRLQW *RG PDGH ZRPHQ ZHDN DQG WUXVWHG WKHLU GHIHQFH WR PHQn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nV SHFXOLDU JLIWV VRPHWKLQJ RI WKHLU SXUH ORYH $V FXVWRGLDQV RI PRUDOLW\ ZRPHQ ZHUH UHVSRQVLEOH IRU HGXFDWLRQ DQG KHOSLQJ WKH SRRU :RPHQnV VXIIUDJH ZRXOG RSHQ SXEOLF OLIH WR PDWHUQDO LQIOXHQFHV QRW WR IHPDOH SROLWLFLDQV 7KH HIIRUW WR UHPDLQ DERYH SROLWLFV ZDV LPSRUWDQW WR WKH PDMRULW\ RI ZRPHQ LQ WKH PRYHPHQW DQG WDON DERXW

PAGE 66

SROLWLFDO SDUWLHV ZDV EUXVKHG DVLGH ZLWK WKH DVVHUWLRQ WKDW WKH QDWLRQ FDPH ILUVW ,OOf 7KXV 0RVVH RIIHUV VLJQLILFDQW DPSOLILFDWLRQ RI :RROIn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f§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

PAGE 67

RI WKH GHSULYDWLRQV WKDW 6RXWKHUQ ZRPHQ KDG WR OLYH ZLWK 3XW VLPSO\ &RQIHGHUDWH ZRPHQ XOWLPDWHO\ UHMHFWHG WKH XVH WR ZKLFK WKH IOHGJOLQJ QDWLRQ KDG SXW WKHLU ERGLHV :KLOH VXSHULRU 8QLRQ QXPEHUV DQG UHVRXUFHV KHOSHG WKH 1RUWK WR WULXPSK LQ WKH ZDU WKH UHMHFWLRQ E\ &RQIHGHUDWH ZRPHQ RI WKHLU QDWLRQDOO\ SUHVFULEHG UROHV DOVR FDXVHG WKH GHIHDW RI WKH 6RXWKHUQ QDWLRQ 7KH ELIXUFDWLRQ EHWZHHQ WKH VSKHUHV RI PHQ DQG ZRPHQ ZDV FOHDUO\ QRW D SKHQRPHQRQ OLPLWHG WR WKH VRXWKHUQ 8QLWHG 6WDWHV
PAGE 68

PHQ YLHZHG RQH DQRWKHUnV ERGLHV DV WH[WV DQG ZKDW ZDV RU ZDVQnW ZULWWHQ RQ WKHP FRQWULEXWHG JUHDWO\ WR VRFLDO SHUFHSWLRQ 7R JRXJH RXW DQ H\H RU RWKHUZLVH PXWLODWH WKH IDFH RI DQ HQHP\ ZDV WKH PRVW FRPPRQ REMHFW RI PHQ LQYROYHG LQ ILVW ILJKWV :LWK WKH SRVVLEOH H[FHSWLRQ RI EDWWOH ZRXQGV WKH PXWLODWLRQ LWVHOI ZDV GLVKRQRULQJ QR PDWWHU KRZ LW ZDV DFWXDOO\ DFTXLUHG ,Q D VHQVH DOO PXWLODWLRQV ZHUH HTXDO EHFDXVH PHQ UHDG WKH FKDUDFWHU RI RWKHU PHQ WKURXJK WKH H[WHUQDO IHDWXUHV RI WKHLU IDFH DQG ERG\ f 7KXV LQ D YHU\ GLUHFW ZD\ WKH ZRUOG RI ZKLWH PHQ LQ WKH 6RXWK ZDV D ERGLO\ ZRUOG D ZRUOG DV :LOEXU &DVK GHVFULEHG LW ZKLFK ZDV IXOO RI WKH FKLSRQVKRXOGHU VZDJJHU DQG EUDJ RI D ER\f§RQH LQ EULHI RI ZKLFK WKH HVVHQFH ZDV WKH ERDVW YRLFHG RU QRW RQ WKH SDUW RI HYHU\ 6RXWKHUQHU WKDW KH ZRXOG NQRFN KHOO RXW RI ZKRHYHU GDUHG WR FURVV KLP f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f§QRW KRZHYHU ZLWK D YLHZ RI WULXPSKLQJ LQ WKH VHQDWH FKDPEHUf§QRW ZLWK D YLHZ WR IRUHQVLF GLVSOD\f§QRW ZLWK D YLHZ RI OHDGLQJ DUPLHV WR FRPEDW RU RI HQDEOLQJ KHU WR EULQJ LQWR PRUH IRUPLGDEOH DFWLRQ WKH SK\VLFDO SRZHU ZKLFK QDWXUH KDV FRQIHUUHG RQ KHU 1R ,W LV EXW WKH EHWWHU WR SHUIHFW DOO WKRVH IHPLQLQH JUDFHV DOO WKRVH IDVFLQDWLQJ DWWULEXWHV ZKLFK

PAGE 69

UHQGHU KHU WKH FHQWUH RI DWWUDFWLRQ DQG ZKLFK GHOLJKW DQG FKDUP DOO WKRVH ZKR EUHDWKH WKH DWPRVSKHUH LQ ZKLFK VKH PRYHV 'HZ f :RPHQ ZHUH WR SURGXFH DQ DWPRVSKHUH WKDW ZRXOG LQ WXUQ LQVSLUH PHQ 'HZ VXJJHVWV LQ UDWKHU SKDOOLF WHUPV WKDW D ZRPDQ VKRXOG SHUIHFW KHUVHOI WR WKH SRLQW ZKHUH VKH ZRXOG PDNH WHQ WKRXVDQG VZRUGV OHDSV IURP WKHLU VFDEEDUGV WR DYHQJH WKH LQVXOW WKDW PLJKW EH RIIHUHG WR KHU f 7KH IHPLQLQH JUDFHV ZKLFK 'HZ DGYRFDWHG SHUIHFWLQJ XOWLPDWHO\ DFFUXHG WR WKH EHQHILW RI PHQ LQ WHUPV RI HLWKHU D ILJKW ZKLFK ZRXOG SURYLGH WKH YHQXH IRU D PDQ WR SURYH KLV ZRUWK DQG KRQRUf RU PRUH VXEWO\ VH[XDO GHVLUH DQG FRQJXHVW ZKLFK ZRXOG SURYH PDQOLQHVVf 'HZnV VXJJHVWHG HGXFDWLRQ LQ VKRUW KDG PRUH WR GR ZLWK WKH DSSURSULDWH SHUIRUPDQFH RI IHPLQLQLW\ DQG LWV FRQVHTXHQW HIIHFW RQ PDVFXOLQLW\ WKDQ ZLWK DQ\ HIIRUW WR LPSURYH 6RXWKHUQ ZRPHQ 7KH VHQVH WKDW IHPLQLQLW\ ZDV D SHUIRUPDQFH WR HQKDQFH PHQnV DXWKRULW\ JHWV H[WHQGHG LQ YDULRXV UHOLJLRXV OHJDO DQG VRFLRORJLFDO WUDFWV SXEOLVKHG LQ WKH DQWHEHOOXP 6RXWK )RU H[DPSOH D VHUPRQ SUHDFKHG DW 6W 0DU\nV 6FKRRO LQ 5DOHLJK 1RUWK &DUROLQD LQ DQG ODWHU SXEOLVKHG DV D SDPSKOHW IRU ODUJHU FLUFXODWLRQf GHFULHG WKH WHUULEOH HGXFDWLRQ \RXQJ 6RXWKHUQ ZRPHQ ZHUH JHWWLQJ )RU WKH VSHDNHU 6RXWKHUQ ZRPHQ QHHGHG D JRRG &KULVWLDQ XSEULQJLQJ VR WKDW WKH\ PLJKW SURVHO\WL]H WR DQG KHQFH WDPH WKHLU PHQ
PAGE 70

7KH SUHDFKLQJ RI WKH ZLIH WR EH HIIHFWXDO DQG WR ZLQ WKH KXVEDQG PXVW EH VLPSO\ KHU IDLWKIXO H[KLELWLRQ LQ DOO KHU FRQGXFW RI WKH EHDXW\ DQG KHDYHQO\ LQIOXHQFH RI UHOLJLRQ ,W VKRXOG DSSHDU LQ KHU VXEMHFWLRQ WR KHU KXVEDQGnV DXWKRULW\ LQ KHU DIIHFWLRQDWH DWWDFKPHQW WR KLP DQG KHU HYLGHQW ZLVK WR PDNH KLP KDSS\ 6KH +DWK 'RQH :KDW 6KH &RXOG f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f )RU 7XFNHU ZRPHQnV WUXVWLQJ KHOSOHVVQHVV DQG JUDWHIXO ORYH ZDV D QHFHVVDU\ FRPSRQHQW IRU D MXVW RUGHUHG VRFLHW\ EHFDXVH ZRPHQnV GLYLQHO\ RUGDLQHG VXEPLVVLRQ MXVWLILHG RWKHU IRUPV RI VXERUGLQDWLRQ OLNH VODYHU\ &RQVHTXHQWO\ ZRPHQ ZKR VWHSSHG

PAGE 71

RXWVLGH WKHVH SUHVFULEHG ERXQGV WKUHDWHQHG WKH GHVWUXFWLRQ RI VRFLDO RUGHU
PAGE 72

VWHUQO\ DGYLVLQJ :RPHQ ZRXOG GR ZHOO WR GLVJXLVH VWUHQJWK RI PLQG RU ERG\ LI WKH\ SRVVHVV LW LI WKH\ ZRXOG UHWDLQ WKHLU HPSLUH f 7KXV HYHQ LQWHOOLJHQW DQG VWURQJ ZRPHQ KDG WR JLYH WKH DSSHDUDQFH RI ZHDNQHVV LQ RUGHU WR PDNH WKH VRFLDO V\VWHP RI WKH 6RXWK ZRUN :RPHQnV HPSLUH WKHLU KRPH DQG GRPHVWLF OLIH ZDV DIIRUGHG WKHP RQO\ WKURXJK WKH ODUJHVH RI DQ HYHQ PRUH LPSHULRXV SRZHUf§6RXWKHUQ PHQ 6XFK HQIRUFHG SHUIRUPDQFHV RI IHPLQLQLW\ ZHUH KDUGO\ HQGHPLF WR WKH 6RXWK +RZHYHU $QQH *RRGZ\Q -RQHV SRLQWV RXW LQ 7RPRUURZ ,V $QRWKHU 'D\ WKDW LPDJHV RI 6RXWKHUQ ZRPDQKRRG SOD\HG D PRUH VLJQLILFDQW UROH LQ RUJDQL]LQJ 6RXWKHUQ FXOWXUH WKDQ GLG RWKHU LGHDV RI ZRPDQKRRG LQ RWKHU VRFLHWLHV 8QOLNH >RWKHU LGHDV RI ZRPDQKRRG@ WKH VRXWKHUQ ODG\ LV DW WKH FRUH RI D UHJLRQn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f§DULVWRFUDWLFf§ WKDW WKH LPDJH RI WKH ODG\ UHSUHVHQWV UHFHLYHV D VWURQJHU HPSKDVLV LQ WKH 6RXWK WKDQ HOVHZKHUH $ -RQHV f ,Q DOO WKHVH ZD\V WKH FRQVWUXFW RI 6RXWKHUQ ZRPDQKRRG LQWHUORFNHG ZLWK WKH WUDGLWLRQV XSRQ ZKLFK WKH LGHD RI D VHSDUDWH 6RXWKHUQ QDWLRQ ZDV EDVHG ,I 6RXWKHUQ PHQ ZHUH WKH DFWXDO ZDUULRUV RI VHFHVVLRQ 6RXWKHUQ ZRPHQ ZHUH H[SHFWHG WR

PAGE 73

IRUP D NLQG RI VROGLHU\ DV ZHOOf§D FROOHFWLYH ERG\ WKDW HQHUJL]HG PHQ WKURXJK WKHLU SDVVLYLW\ DQG ZHDNQHVV 7KH DULVWRFUDWLF OHDQLQJ RI WKLV LGHD RI 6RXWKHUQ ZRPDQKRRG KHOSHG EULGJH WKH FODVV JDS DPRQJ WKH VROGLHUV IRU HYHQ WKH ORZHVW FODVV ZKLWH PDQ FRXOG VKRZ KLV KRQRU WKURXJK VHUYLFH WR WKH QDWLRQ 7KH :DUn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f (OL]DEHWK 0HULZHWKHU PDGH WKH PLVWDNH RI ORRNLQJ WKURXJK WKH XQLIRUP DQG WKH FRQVWUXFWLRQV LW LPSOLHG VROGLHU QDWLRQf WR VHH KHU KXVEDQG 0LQRU 0HULZHWKHU XSRQ KHDULQJ KLV ZLIHnV IHDUV WULHG WR UHGLUHFW KHU WKLQNLQJ DERXW WKH WDVN KH ZDV DERXW WR XQGHUWDNH ,I OLVWHQHG WR \RX KH VDLG ,I VWD\HG DW KRPH OLNH D ZRPDQ \RX ZRXOGQnW ORYH PH
PAGE 74

JRLQJ WR ILJKW IRU \RX DQG IRU WKH 6RXWK WKDW ZH ERWK ORYH VR GHDUO\ f 0LQRU 0HULZHWKHU PDNHV KLV ZLIH WKH H[FXVH IRU KLV JRLQJ WR ZDU +H GLFWDWHV WR KHU KRZ VKH VKRXOG IHHO ,I VWD\HG DW KRPH OLNH D ZRPDQ \RX ZRXOGQnW ORYH PH
PAGE 75

8QOLNH (OL]DEHWK 0HULZHWKHU WKLV QDUUDWRU GRHV QRW IHDU WKH GHDWK RI KHU ORYHU ,Q IDFW VKH VHHV VXFK D SRVVLELOLW\ LQ WKH VHUYLFH RI WKH QDWLRQ DV KRQRUDEOH 6KRXOG WKH *RG ZKR VPLOHV DERYH WKHH 'RRP WKHH WR D VROGLHUnV JUDYH +HDUWV ZLOO EUHDN EXW IDPH ZLOO ORYH WKHH &DQRQL]HG DPRQJ WKH EUDYH /LVWHQ WKHQ WK\ FRXQWU\nV FDOOLQJ 2Q KHU VRQV WR PHHW WKH IRH 5DWKHU ZRXOG YLHZ WKHH O\LQJ 2Q WKH ODVW UHG ILHOG RI VWULIH n0LG WK\ FRXQWU\nV KHURHV G\LQJ 7KDQ EHFRPH D GDVWDUGnV ZLIH 6LPPV f 7KH SRHPnV QDUUDWRU JLYHV YRLFH WR WKH FRXQWU\nV FDOOLQJ VLPXOWDQHRXVO\ GHQ\LQJ KHUVHOI DQ\ H[SUHVVLRQ RI DQ[LHW\ IRU WKH VDIHW\ RI KHU ORYHU ,Q IDFW WKH QDUUDWRU LQYRNHV WK\ FRXQWU\ WZLFH LQ WKH VWDQ]D DGGLQJ WR WKH LPSUHVVLRQ WKDW VKH LQ IDFW VSHDNV PRUH DV D &RQIHGHUDWH SURSDJDQGLVW WKDQ DV D FRQFHUQHG ZLIH OLNH (OL]DEHWK 0HULZHWKHU *LYHQ WKH GHILQLWLRQ FLUFXODWHG E\ VXFK SURSDJDQGD ZRPHQ KDG WR % 0HHN
PAGE 76

LQ 9LFNVEXUJ 0LVVLVVLSSL JUHZ WLUHG RI \RXQJ PHQ ZKR UHPDLQHG LQ WKH VRFDOOHG +RPH *XDUG UDWKHU WKDQ MRLQLQJ WKH ZDU DW WKH IURQW 7KHVH ZRPHQ SRVWHG EXOOHWLQV DURXQG WRZQ TXHVWLRQLQJ WKH KRQRU RI VXFK PHQ 7R $UPV 7R $UPVf§7KHUH ZLOO EH D PHHWLQJ RI WKH \RXQJ ODGLHV RI :DUUHQ &RXQW\ WR EH KHOG DW %RYLQD RQ 7KXUVGD\ WK RI -XQH f IRU WKH SXUSRVH RI IRUPLQJ WKHPVHOYHV LQWR D +RPH *XDUG IRU WKH SURWHFWLRQ RI WKRVH \RXQJ PHQ ZKR ZLOO QRW YROXQWHHU IRU WKH FRXQWU\nV FDXVH 5HEHOOLRQ 5HFRUG ,, Uf ,Q YDULRXV ZD\V GLIIHUHQW ZRPHQ EHFDPH GH IDFWR DJHQWV RI WKH &RQIHGHUDWH QDWLRQ 7KHLU DSSDUHQW WUDQVJUHVVLRQV RI VSHFLILF JHQGHU UROHV ZHUH WROHUDWHG DQG HYHQ HQFRXUDJHG EHFDXVH WKHLU ULGLFXOH UHLQIRUFHG WKH LGHRORJLFDO QHFHVVLWLHV RI WKH QDWLRQ ,PSOLFLW LQ WKHLU ULGLFXOH RI PHQ ZDV D FRQILUPDWLRQ RI ZRPDQO\ ZHDNQHVV 7KH SDUDGR[ EHWZHHQ WKH VHQWLPHQWV ZRPHQ ZHUH H[SHFWHG WR H[SUHVV DQG WKH VRFLDO VSDFH WKH\ ZHUH H[SHFWHG WR RFFXS\ PHUHO\ UHIOHFWHG WKH ODUJHU SDUDGR[HV RI WKH FRQVWUXFWLRQ RI 6RXWKHUQ ZRPDQKRRG )RU LQVWDQFH ZKLWH 6RXWKHUQ ZRPHQ ZHUH WKRXJKW WR EH PRUDO H[HPSODUV 0RUH WKDQ MXVW D IUDJLOH IORZHU WKH LPDJH RI WKH VRXWKHUQ ODG\ UHSUHVHQWV KHU FXOWXUHnV LGHD RI UHOLJLRXV PRUDO VH[XDO UDFLDO DQG VRFLDO SHUIHFWLRQ $ -RQHV f
PAGE 77

YRLFH OLPLWHG 6RXWKHUQ ZRPHQ WR DQ LQHIIHFWXDO UROH DV LGHDOL]HG REMHFW 7KH ZRPHQ ZKR VSHDN RXW DJDLQVW ORDIHUV GR WKH ZRUN RI WKH QDWLRQ 7KHLU ULGLFXOH LV HIIHFWLYH RQO\ WR WKH H[WHQW WKDW WKH\ DUH XQGHUVWRRG DV ZHDN 7KH ZRPHQ LQ 9LFNVEXUJ DUH SHUPLWWHG WR LQYHUW JHQGHU FRQYHQWLRQV RQO\ WR VKRZ KRZ WKRVH \RXQJ PHQ ZKR ZLOO QRW YROXQWHHU IRU WKH FRXQWU\n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f$ +RPH 6FHQH 6KH FKHHUHG KLP ZLWK SOHDVDQW HDUQHVWQHVV WR VKRZ KLPVHOI D PDQ DQG UXQQLQJ RQ LQ D JOHHIXO VWUDLQ DGPRQLVKHG KLP QRW WR FRPH EDFN LI KH ZHUH VKRW LQ WKH EDFN :LWK LQFUHGLEOH IRUWLWXGH VKH EDGH KHU FKLOG WHOO SDSD JRRGE\H DQG WR VD\ WR KLP WKDW VKH ZRXOG QRW RZQ KLP KHU IDWKHU LI KH SURYHG WR EH D FRZDUG 7KH HFKR RI WKH VROGLHUnV IRRWIDOO WKURXJK WKH FRUULGRU KDG KDUGO\ GLHG DZD\ ZKHQ D JKDVWO\ SDOORU ZDV VHHQ VSUHDGLQJ RYHU WKH ODG\nV IDFH ,Q D YRLFH ZHDN DQG KXVN\ VKH EHJJHG D IULHQG WR WDNH KHU FKLOG DQG EHIRUH VKH FRXOG EH VXSSRUWHG VKH IHOO IURP KHU FKDLU SURVWUDWH RQ WKH IORRU %\ D WUHPHQGRXV HIIRUW WKH QREOH ZRPDQ KDG FRQWUROOHG KHU IHHOLQJV EXW QDWXUH FRXOG EHDU QR ORQJHU DQG VKH IDLQWHG 7KH VZRRQ ZDV GHHS DQG LW ZDV VRPH WLPH EHIRUH FRQVFLRXVQHVV UHWXUQHG $W OHQJWK VKH RSHQHG KHU H\HV ODQJXLGO\ DQG ORRNHG DURXQG XSRQ WKH V\PSDWKL]LQJ JURXS DQG LQ D WUHPHQGRXV WRQH LQTXLUHG LI

PAGE 78

VKH KDG IDLQWHG EHIRUH KHU KXVEDQG OHIW WKH URRP 5HEHOOLRQ 5HFRUG f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nWLV ZHOO \RX DUH ZDNLQJf§ *R DFW DV \RXU IDWKHU ZRXOG ELG \RX WRGD\ 6LPPV f $V ZLWK WKH IDLWKIXO ZLIH RI $ +RPH 6FHQH WKLV PRWKHU IHHOV FRPSHOOHG WR KLGH KHU WUXH IHHOLQJV 6KH XUJHV KHU VRQ WR IROORZ WKH PDQO\ H[DPSOHf§KLV IDWKHU $IWHU KHU VRQ GHSDUWV WKH QDUUDWRU FRQWLQXHV WR WU\ DQG TXDVK KHU RZQ IHHOLQJV VLW LQ WKH ZLQGRZ DQG VHH WKH IODJV IO\LQJ $QG GUHDULO\ OLVW WR WKH UROO RI WKH GUXP $QG VPRWKHU WKH SDLQ LQ P\ KHDUW WKDW LV WU\LQJ $QG ELG DOO WKH IHDUV LQ P\ ERVRP EH GXPE

PAGE 79

7KH IODJV WKH V\PERO RI WKH QDWLRQ FRPSHWH ZLWK WKH QDUUDWRUnV DQ[LHW\ 7KH QDUUDWRU UHVHPEOHV (OL]DEHWK 0HULZHWKHU ZKR DOVR IHOW IHDU
PAGE 80

$W OHDVW LQLWLDOO\ ZRPHQ ZLOOLQJO\ ZHQW DORQJ ZLWK WKH UHTXLUHG VDFULILFH $V WKH ZDU EHJDQ KRSHV ZHUH KLJK LQ WKH &RQIHGHUDF\ WKDW WKH EDWWOH ZRXOG EH D VKRUW RQH :H KDYH EXW RQH PRWWRf§ 'HWHUPLQDWLRQ ZURWH /HRUD 6LPV RI &ROXPELD 6RXWK &DUROLQD WR D VFKRRO IULHQG LQ D OHWWHU GDWHG 1RYHPEHU GR QRW WKLQN WKLV ZDU ZLOO ODVW ORQJ VKH DGGHG EXW \RX NQRZ DP DOZD\V ORRNLQJ RQ WKH EULJKW VLGH -RQHV f $V LW WXUQHG RXW 6LPV DQG RWKHUV ZHUH RYHUO\ RSWLPLVWLF DQG DV WKH ZDU GUDJJHG RQ ZRPHQ DW WKH KRPHIURQW ZHUH VXEMHFWHG WR PRUH DQG PRUH GHSULYDWLRQ 1RUWKHUQ@ *RVKHQ EXWWHU XSRQ ZKLFK ZH GHSHQG JHQHUDOO\ WKH OLWWOH LQ WKH FLW\ EHLQJ VROG DW FHQWV SHU OE t IUHVK EXWWHU KDV DOVR ULVHQ WR FHQWV LQ FRQVHTXHQFH RI WKH KLJK SULFH RI KD\ 0DUV]DOHN f 'HVSLWH WKH VKRUWDJH +ROPHV QRWHG SHRSOHnV JHQHUDO JRRG KXPRU 6R

PAGE 81

HYHU\ ERG\ >VLF@ KDV GHWHUPLQHG WR JLYH LW XS DV D OX[XU\ ZH FDQQRW DIIRUG t DUH ZLOOLQJ WR GR ZLWKRXW ,W KDV EHFRPH TXLWH D VXEMHFW RI DPXVHPHQW WR XV f $W WKH RWKHU HQG RI WKH &RQIHGHUDF\ LQ /RXLVLDQD .DWH 6WRQH UHSRUWHG VLPLODU VKRUWDJHV %XW DV ZLWK WKH &KDUOHVWRQLDQV WKDW (PPD +ROPHV KDG ZULWWHQ DERXW 6WRQH DQG KHU IDPLO\ DFFHSWHG WKHLU QHZO\ LPSRVHG GLHW DV DQRWKHU H[LJHQF\ RI WKH ZDU ,W VHHPV RGG WR EH H[SHFWLQJ FRPSDQ\ DQG QR IORXU RU DQ\ EURXJKWHQ GHOLFDF\ WR UHJDOH WKHP RQ EXW ZH KDYH EHHQ RQ D VWULFW ZDU IRRWLQJ IRU VRPH WLPHf§FRUQEUHDG DQG KRPHUDLVHG PHDO PLON DQG EXWWHU WHD RQFH D GD\ DQG FRIIHH QHYHU $ \HDU DJR ZH ZRXOG KDYH FRQVLGHUHG LW LPSRVVLEOH WR JHW RQ IRU D GD\ ZLWKRXW WKH WKLQJV WKDW ZH KDYH EHHQ GRLQJ ZLWKRXW IRU PRQWKV $QGHUVRQ f 'HVSLWH WKH VKRUWDJHV 6WRQH UHSRUWHG WKDW PRVW SHRSOH VWLOO NHSW WKHLU VSLULWV XS .QRZLQJ WKHUH LV QR KHOS IRU LW PDNHV RQH FRQWHQW 7KH ZHOOWRGR KDG WR IRUHJR OX[XULHV OLNH QHZ DQG IDVKLRQDEOH FORWKLQJ .DWH 6WRQH QRWHG WKDW SHRSOH LQ KHU FRPPXQLW\ ZRUULHG YHU\ OLWWOH DERXW WKH ZD\ WKH\ GUHVVHG )DVKLRQ LV DQ REVROHWH ZRUG DQG MXVW WR EH GHFHQWO\ FODG LV DOO ZH H[SHFW VKH UHSRUWHG LQ D GLDU\ HQWU\ GDWHG 0D\ $QGHUVRQ f )DVKLRQ LQ IDFW WRRN RQ D UDWKHU QHJDWLYH FRQQRWDWLRQ LQ WKH &RQIHGHUDF\ 6RQJV DQG SRHPV FHOHEUDWLQJ WKH VLPSOLFLW\ RI 6RXWKHUQ ZRPHQnV GUHVV SUROLIHUDWHG IXQFWLRQLQJ DV D UDOO\LQJ FU\ LQ VXSSRUW RI WKH IOHGJOLQJ QDWLRQ 3HUKDSV WKH PRVW IDPRXV VRQJ RI WKLV JHQUH ZDV 7KH +RPHVSXQ 'UHVV

PAGE 82

ZKLFK GLUHFWO\ UHPDUNHG XSRQ ZRPHQnV FRQWULEXWLRQV WR WKH &RQIHGHUDWH ZDU HIIRUW 0\ KRPHVSXQ GUHVV LV SODLQ NQRZ 0\ KDWnV SDOPHWWR WRR %XW WKHQ LW VKRZV ZKDW 6RXWKHUQ JLUOV )RU 6RXWKHUQ ULJKWV ZLOO GR :H VHQG WKH EUDYHVW RI RXU ODQG 7R EDWWOH ZLWK WKH IRH $QG ZH ZLOO OHQG D KHOSLQJ KDQG :H ORYH WKH 6RXWK \RX NQRZ 6LOEHU f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n DLG VRFLHW\ 7KHLU PRVW UHFHQW JDWKHULQJ KDG SURGXFHG LQ *DOODUGnV HVWLPDWLRQ D PRVW LQJHQLRXV SODQ $W WKHLU ODVW PHHWLQJ WKH\ UHVROYHG WR JLYH WKHLU MHZHOU\ WKHLU JROG DQG VLOYHU SODWH WR WKH &RQIHGHUDF\ DQG WR PDNH DQ HDUQHVW DSSHDO WR DOO WKH ODGLHV LQ RXU FRXQWU\ WR GR WKH VDPH IRU WKH SXUSRVH RI SXUFKDVLQJ RU DVVLVWLQJ WR SXUFKDVH D QDY\ IRU WKH &RQIHGHUDF\ I5HEHOOLRQ 5HFRUG ,9 f

PAGE 83

*DOODUG IHOW VR VWURQJO\ DERXW KLV SURSRVLWLRQ WKDW KH XUJHG WKH HGLWRU WR VXJJHVW WR 3UHVLGHQW 'DYLV WR FDOO XSRQ DOO WKH ODGLHV LQ WKH &RQIHGHUDF\ WR SUHVHQW WKHLU MHZHOU\ DQG WKHLU JROG DQG VLOYHU SODWH DV D IUHHZLOO RIIHULQJ XSRQ WKH DOWDU RI WKHLU EOHHGLQJ FRXQWU\ f 7KRXJK IHZ UHFRUGV H[LVW WR VXJJHVW WKDW PDQ\ ZRPHQ DFWXDOO\ GLG FRQWULEXWH WKHLU YDOXDEOHV WR WKH FDXVH RI WKH &RQIHGHUDF\ IDVKLRQ EHFDPH D NLQG RI PHDVXULQJ VWLFN WR MXGJH ZKR ZDV DQG ZDVQnW WDNLQJ VHULRXVO\ WKHLU SDUW LQ WKH ZDU :LWK WKLV DQWLIDVKLRQ PHQWDOLW\ DURVH D VHW RI GLVFLSOLQHV WKDW WKRVH RQ WKH KRPHIURQW ZHUH H[SHFWHG WR REVHUYH :RPHQ ZKR SDUWLFLSDWHG LQ XQVHHPO\ HQWHUWDLQPHQWV ZHUH VHYHUHO\ FKDVWL]HG )RU H[DPSOH DQ DQRQ\PRXVO\ SXEOLVKHG SRHP HQWLWOHG ,V 7KLV D 7LPH WR 'DQFH" URXQGO\ FULWLFL]HG ZRPHQ ZKR SXW SHUVRQDO SOHDVXUH DKHDG RI WKH LQWHUHVWV RI WKH &RQIHGHUDF\ ,Q WKH SRHPnV PRVW JUDSKLF VWDQ]D WKH QDUUDWRU ULGLFXOHV WKH REOLYLRXV 2K OLIW \RXU IHVWDO UREHV RQ KLJK 7KH KXPDQ JRUH WKDW IORZV DURXQG :LOO VWDLQ WKHLU KXHV ZLWK FULPVRQ G\H $QG ORXGHU OHW \RXU PXVLF VRXQG 7R GURZQ WKH G\LQJ ZDUULRUnV FU\ /HW VSDUNOLQJ ZLQH \RXU MR\ HQKDQFH )RUJHW WKDW EORRG KDV WLQJHG LWV G\H $QG TXLFNHU XUJH WKH PDQLDF GDQFH 6LPPV f 2QH RI WKH PRVW ZLGHO\UHDG PDQXDOV RQ H[SHFWHG IHPDOH EHKDYLRU ZDV DFWXDOO\ D QRYHOf§$XJXVWD -DQH (YDQVnV 0DFDULD 3XEOLVKHG LQ HDUO\ 0DFDULD VRXJKW WR UHLQYLJRUDWH 6RXWKHUQ QDWLRQDOLVP E\ RIIHULQJ SRUWUDLWV RI WZR &RQIHGHUDWH ZRPHQ SDVVLRQDWHO\ FRPPLWWHG WR WKH FDXVH (OL]DEHWK 0RVV

PAGE 84

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f (YDQV KHUVHOI FRUUHVSRQGHG ZLWK PDQ\ SURPLQHQW &RQIHGHUDWH SROLWLFLDQV DQG JHQHUDOV LQ IDFW PDQ\ GHWDLOV DERXW EDWWOHV DUH FXOOHG IURP *HQHUDO 3 7 %HDXUHJDUGnV ILHOG QRWHV 0RUHRYHU (YDQV KHUVHOI WRXUHG EDWWOHILHOGV DQG ZRUNHG LQ DUP\ KRVSLWDOV FRPIRUWLQJ WKH ZRXQGHG 0DFDULD ZDV WKH V\QWKHVLV RI (YDQVnV YDULRXV H[SHULHQFHV ZLWK DQ XQHTXLYRFDO SUR &RQIHGHUDWH VODQW 7KH QRYHOnV VXEWLWOH $OWDUV RI 6DFULILFH WHOOLQJO\ H[SRVHV (YDQVnV EHOLHI LQ ZKDW WKH GXW\ RI &RQIHGHUDWH ZRPHQ WUXO\ ZDV 7KH QRYHO LV ULIH ZLWK SURSDJDQGLVWLF VSHHFKHV ZKLFK LQ QR XQFHUWDLQ WHUPV VKRZ ZRPHQ VDFULILFLQJ WKHLU PHQ DQG WKHLU ZD\ RI OLIH IRU WKH 6RXWKHUQ QDWLRQ $ W\SLFDO H[DPSOH RI VXFK D VSHHFK RFFXUV ODWH LQ WKH QRYHO ZKHQ 0UV %DNHU D SRRU \HRPDQ IDUPHUnV ZLIH WHOOV KHU VWRU\ WR WKH PDLQ FKDUDFWHU LQ WKH ERRN ,UHQH +XQWLQJGRQ (YHU\ PDQ KDV WR GR KLV GXW\ QRZ DQG HYHU\ ZRPDQ WRR WROG 6WHSKHQ WKRXJKW FRXOG WDNH FDUH RI WKH FKLOGUHQ DQG P\VHOIf§WKDW ZRXOG UDWKHU OLYH RQ DFRUQV WKDQ WKDW KH VKRXOG QRW VHUYH KLV FRXQWU\ ZKHQ LW QHHGHG KLP DQG WROG 5REHUW ZKHQ IL[HG KLP RII WKDW QHYHU ZRXOG GLH FRQWHQWHG LI KH DQG KLV IDWKHU GLG QRW

PAGE 85

ERWK GR VRPHWKLQJ WR GLVWLQJXLVK WKHPVHOYHV LQ WKLV ZDU (YDQV f 0UV %DNHUnV FRPPHQWV GR WKH LGHRORJLFDO ZRUN RI WKH VWDWH DV VKH HQFRXUDJHV KHU KXVEDQG DQG VRQ QRW RQO\ WR JR WR ZDU EXW DOVR WR GR VRPHWKLQJ WR GLVWLQJXLVK WKHPVHOYHV 0UV %DNHU GRHV QRW JLYH YRLFH WR DQ\ GRXEWV 6KH VHHV KHU GXW\ FOHDUO\ DV VKH WHOOV ,UHQH KDYH QR PRQH\ WR OHQG RXU JRYHUQPHQW EXW JLYH P\ KXVEDQG DQG P\ FKLOGf§DQG WZR EHWWHU VROGLHUV QR VWDWH FDQ VKRZ f ,UHQH DQG KHU FRXVLQ (OHFWUD *UH\ IROORZ 0UV %DNHUnV OHDG LQ EHDULQJ WKH SDLQ DQG DQ[LHW\ FDXVHG E\ WKH &RQIHGHUDWH UHYROXWLRQ ZLWK UHVROXWH LQGLIIHUHQFH 7KRXJK KHU IDWKHU DQG KHU ILDQFHH DUH NLOOHG LQ EDWWOH ,UHQH WHOOV (OHFWUD DQG WKH UHDGLQJ DXGLHQFHf WKDW WKHLU GHDWKV ZHUH QRW LQ YDLQ (OHFWUD QDWLRQDO OLNH LQGLYLGXDO OLIH ZKLFK LV QRW QREOH IUHH DQG KRQRUDEOH LV QRW ZRUWK WKH OLYLQJ $ SHRSOH ZKR FDQ VXUYLYH WKHLU OLEHUW\ DUH EHQHDWK FRQWHPSW DQG WRGD\ GHVRODWH WKRXJK DP ZRXOG VRRQHU WDNH P\ SODFH E\ P\ IDWKHUnV VLGH WKDQ UHFDOO KLP WR OLYH D VXEMHFW RI GHVSRWLF JRYHUQPHQW DW :DVKLQJWRQ f ,UHQHnV FRQIODWLRQ RI QDWLRQDO DQG LQGLYLGXDO OLIH XQGHUVFRUHV WKH NH\ WKHPH RI WKH QRYHOf§LQGLYLGXDOLW\ ZDV SHUPLVVLEOH RQO\ LQVRIDU DV LW DFFUXHG WR WKH EHQHILW RI WKH QDWLRQ ([SUHVVLRQV RI LQGLYLGXDOLW\ KDG WR EH H[SUHVVLRQV RI QDWLRQDOLW\ 3DWULRWLF &RQIHGHUDWHV RQ WKH KRPHIURQW WKRVH GHEDUUHG IURP WKH nWHQWHGILHOGn DV ,UHQH FDOOV WKH ZDUIURQW KDG WR DFFHSW WKH QDWLRQ DV WKH RUJDQL]LQJ SULQFLSOH RI WKHLU OLYHV MXVW DV &RQIHGHUDWH VROGLHUV KDG

PAGE 86

(YDQV GULYHV KRPH WKLV SRLQW LQ RQH RI WKH ILQDO VFHQHV RI WKH QRYHO ,UHQH KDV HQFRXUDJHG (OHFWUD ZKR LV D SDLQWHU WR FRQVWUXFW IUHVFRHV RI VRPH RI WKH PRVW LPSUHVVLYH VFHQHV RI RXU 5HYROXWLRQ (OHFWUD UHVSRQGV E\ SDLQWLQJ D ODUJH DOOHJRU\ IHDWXULQJ WZR ZRPHQ 2QH VWHUQ \HW QREOHIHDWXUHG FURZQHG ZLWK VWDUVf§ WULXPSK DQG H[XOWDWLRQ IODVKLQJ LQ WKH OXPLQRXV H\HV ,QGHSHQGHQFH FULPVRQPDQWOHG JUDVSLQJ WKH &RQIHGHUDWH %DQQHU RI WKH &URVV ZKR YLFWRULRXV VWUHDPHG DERYH D FDSWXUHG EDWWHU\ ZKHUH D )HGHUDO IODJ WUDLOHG LQ WKH GXVW $W KHU VLGH VWRRG ZKLWHUREHG DQJHOLF 3HDFH ZLWK RQH KDQG RYHU WKH WRXFKKROH RI WKH FDQQRQ DJDLQVW ZKLFK VKH OHDQHG DQG WKH RWKHU H[WHQGHG LQ EHQHGLFWLRQ 9LYLGO\ WKH IDFHV FRQWUDVWHGf§RQH DOO DWKURE ZLWK QDWLRQDO SULGH EHDPLQJ ZLWK EULOOLDQW GHVWLQ\ WKH RWKHU ZRQGHUIXOO\ VHUHQH DQG KRO\ f 7KH WZR ZRPHQ LQ WKH IUHVFR WDNH WKHLU IRUP IURP ,UHQH WKH SDVVLRQDWH SDWULRWf DQG (OHFWUD WKH FRROKHDGHG DUWLVWf (OHFWUDnV IUHVFR SDUDOOHOV (YDQVnV QRYHO -XVW DV (OHFWUD SODFHV KHUVHOI DQG ,UHQH LQ KHU ZRUN RI DUW LQ RUGHU WR FRQYH\ KHU IDLWK LQ WKH &RQIHGHUDF\ (YDQV DOVR HPSOR\V (OHFWUD DQG ,UHQH WR WHOO KHU VWRU\ (YDQV LQ IDFW LQVHUWV KHUVHOI LQWR WKH QRYHO ZLWK ERWK ,UHQH DQG (OHFWUD HDFK SRVVHVVLQJ HOHPHQWV RI (YDQVnV RZQ SHUVRQDOLW\f§WKH SDVVLRQDWH SDWULRW DQG WKH FRROKHDGHG DUWLVW (YDQVnV PHWDQDUUDWLYH VSHDNV QRW RQO\ WR WKH DUWLVWLF SURFHVV DQG KHU KRSHGIRU UHVXOW EXW DOVR WR KHU RZQ FRPPLWPHQW WR &RQIHGHUDWH QDWLRQDOLVP 6KH ZURWH RI WKH QRYHOnV HPERGLPHQW RI KHU SDWULRWLVP WR SXEOLVKHU & 'HUE\ 6FULEEOHG LQ SHQFLO ZKLOH VLWWLQJ XS ZLWK WKH VLFN VROGLHUV LQ WKH KRVSLWDO DWWDFKHG WR n&DPS %HXODKn P\ YHU\ KHDUW EHDW LQ LWV SDJHV FRDUVH DQG EURZQ WKRXJK WKH GHDU ROG

PAGE 87

&RQIHGHUDWH SDSHU ZDV TXRWHG LQ 0RVV f 0DFDULD ZDV QRW MXVW (YDQVnV WKRXJKWV RQ VHFHVVLRQ DQG WKH UHVSRQVLELOLWLHV RI FLWL]HQV WR WKH QDWLRQ ,W ZDV LQ VRPH VHQVH (YDQV KHUVHOI H[FHSW WKDW (YDQV WKH ZRPDQ ZDV PXWHG LQ IDYRU RI (YDQV WKH HPERGLPHQW RI &RQIHGHUDWH QDWLRQDOLVP (YDQVnV DGYRFDF\ RI &RQIHGHUDWH SDWULRWLVP SURYHG TXLWH HIIHFWLYH LQ VRPH FLUFOHV ,Q IDFW DV (OL]DEHWK 0RVV UHSRUWV $W OHDVW RQH 8QLRQ JHQHUDO ZDV IRUFHG WR EDQ WKH ERRN DPRQJ KLV WURRSV DQG VHYHUDO VRXWKHUQHUV ODWHU FODLPHG WKDW WKH QRYHO VDYHG WKHLU OLYHV E\ GHIOHFWLQJ EXOOHWV RU ED\RQHWV f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

PAGE 88

,Q $SULO WKH &RQIHGHUDF\n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f 3HUFHLYHG LQ WKH PRVW EHQLJQ ZD\ %XWOHUnV RUGHU FOHDUO\ FKDOOHQJHG WKH KRQRU DQG UHVSHFWDELOLW\ RI WKH ZRPHQ RI 1HZ 2UOHDQV ,W FRQIODWHG WKH H[SUHVVLRQ RI &RQIHGHUDWH QDWLRQDOLVP DQG VH[XDO GHYLDQFH E\ FRPSDULQJ YRFLIHURXV ZRPHQ FDOOLQJ WKHPVHOYHV ODGLHV WR SURVWLWXWHV %XW VRPH VDZ D PRUH VLQLVWHU XQGHUWRQH WR WKH RUGHU .DWH 6WRQH OLYLQJ XSULYHU LQ QRUWKHDVWHUQ /RXLVLDQD YLHZHG 2UGHU 1R DV D OLFHQVH WR 8QLRQ VROGLHUV WR UDSH DQG SLOODJH ,W LV EXW FDUU\LQJ RXW WKH EDWWOH FU\ n%RXQW\ DQG %HDXW\n ZLWK ZKLFK WKH\ VWDUWHG IRU 1HZ 2UOHDQV 0D\ >%XWOHU@ QRW ORQJ SROOXWH WKH VRLO RI /RXLVLDQD $QGHUVRQ f :KDW %XWOHUnV RUGHU FOHDUO\ GLG DWWHPSW ZDV WKH UHJXODWLRQ RI WKH ERGLHV RI WKH ZRPHQ RI 1HZ 2UOHDQV 3XQLVKPHQW FRXOG EH WULJJHUHG E\ PHUH JHVWXUH RU PRYHPHQW LQVXOW RU VKRZ >RI@ FRQWHPSW IRU DQ\

PAGE 89

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f ,Q WKH YDFXXP OHIW E\ WKH UHWUHDW RI 6RXWKHUQ PHQ 6RXWKHUQ ZRPHQ WRRN XS WKHLU RZQ GHIHQVH $V PDOH DXWKRULW\ SURYHG PRUH DQG PRUH KROORZ LQMXQFWLRQV DJDLQVW ZRPHQ VSHDNLQJ RXW ZHDNHQHG SURGXFLQJ D VHFRQG SUREOHP IRU &RQIHGHUDWH OHDGHUV 0RVW ZRPHQ GLG QRW VSHDN RXW DJDLQVW JHQGHU LQHTXDOLW\ UDWKHU WKH GLIIHUHQW RXWEUHDNV RI ZRPHQn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

PAGE 90

KDUG WR VHH WKH HQHP\ PDNLQJ VXFK LQURDGV LQWR WKH KHDUW RI RXU FRXQWU\ LW PDNHV WKH FKLFNHQKHDUWHG PHQ DQG ZRPHQ GHVSRQGHQW EXW WR WKH WUXH DQG EUDYH LW JLYHV IUHVK VWLPXOXV IRU H[HUWLRQ f (YHQ WKH XVXDOO\ VDQJXLQH 6RXWK &DUROLQLDQ 0DU\ &KHVQXW YLHZHG WKH ORVV RI 1HZ 2UOHDQV DV FDWDVWURSKLF IRU WKH &RQIHGHUDF\ :ULWLQJ LQ KHU GLDU\ RQ WKH VDPH GD\ DV KHU FRXQWU\ZRPDQ -XGLWK 0F*XLUH &KHVQXW SODFHG WKH EODPH IRU WKH GHIHDW VTXDUHO\ RQ WKH JRYHUQPHQW 1HZ 2UOHDQV JRQHf§DQG ZLWK LW WKH &RQIHGHUDF\ $UH ZH QRW FXW LQ WZR" 7KDW 0LVVLVVLSSL UXLQV XV LI ORVW 7KH &RQIHGHUDF\ GRQH WR GHDWK E\ WKH SROLWLFLDQV :KDW ZRQGHU ZH DUH ORVW 7KRVH ZUHWFKHG FUHDWXUHV WKH &RQJUHVV DQG WKH OHJLVODWXUH FRXOG QHYHU ULVH WR WKH JUHDWQHVV RI WKH RFFDVLRQ :RRGZDUG f &KHVQXWn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f /H*UDQG GLG QRW FRQILQH KHU FULWLFLVPV RI WKH &RQIHGHUDWH GHIHQVH IRUFH WR MXVW KHU MRXUQDO ,Q WKLV VDPH MRXUQDO

PAGE 91

HQWU\ VKH DGPLWWHG WR KRXQGLQJ VRPH ORFDO PHQ ZKRP VKH VDZ ORDILQJ DURXQG WRZQ DIWHU WKH LQYDVLRQ 7KH ODGLHV RI WKH WRZQ VLJQHG D SDSHU SUD\LQJ WKDW >1HZ 2UOHDQV@ VKRXOG QHYHU EH JLYHQ XS :H ZHQW GRZQ WR SXW RXU QDPHV RQ WKH OLVW DQG PHW WKH PDULQHV PDUFKLQJ XS WR WKH &LW\ +DOO ZLWK WKHLU FDQQRQ LQ IURQW RI WKHP 7KH EORRG ERLOHG LQ P\ YHLQVf§, IHOW QR IHDUf§RQO\ DQJHU IRUJRW P\VHOI DQG FDOOHG RXW VHYHUDO WLPHV *HQWOHPHQ GRQnW OHW WKH 6WDWH )ODJ FRPH GRZQ DQG 2K KRZ FDQ \RX PHQ VWDQG LW" -RQHV f /H*UDQGnV SXEOLF TXHVWLRQLQJ RI WKH FRXUDJH RI 6RXWKHUQ PHQ IOHZ LQ WKH IDFH RI WKH UKHWRULF RI 6RXWKHUQ PDOH KRQRU 9HW KHU SXEOLF RXWEXUVW ZDV QRW DQ LVRODWHG RFFXUUHQFH DV WKH 8QLRQ RFFXSDWLRQ WRRN ILUPHU KROG ,I WKH PHQ KDG KDOI WKH VSXQN ZKLFK WKH ZRPHQ KDG RQH ORFDO ZRPDQ DVVHUWHG WR D YLVLWRU IURP (QJODQG 1HZ 2UOHDQV ZRXOG VRRQ EH RXUV DJDLQ TXRWHG LQ 5DELH f /HIW WR WKHLU RZQ GHYLFHV &RQIHGHUDWH ZRPHQ LQ DQG DURXQG 1HZ 2UOHDQV FRQWLQXHG WKHLU GHILDQFH 6WLOO KDYLQJ IRU VR ORQJ EHHQ GHQLHG SXEOLF YRLFHV PDQ\ ZRPHQ KDG GLIILFXOW\ LQ H[SUHVVLQJ WKHLU DQJHU 6DUDK 0RUJDQ RI %DWRQ 5RXJH RQH RI WKH PRVW OXFLG DQG HORTXHQW GLDULVWV RI WKH &LYLO :DU SHULRG EUHDWKHG ILUH DERXW %XWOHUnV RUGHU DQG WKH 8QLRQ LQYDVLRQ IRUFH DUULYLQJ LQ KHU KRPHWRZQ LQ D GLDU\ HQWU\ GDWHG 0D\ 2XU ODZIXO "f RZQHUV KDYH DW ODVW DUULYHG $ERXW VXQVHW GD\ EHIRUH \HVWHUGD\ WKH 7URTXRLV DQFKRUHG KHUH DQG D JUDFHIXO \RXQJ )HGHUDO VWHSSHG DVKRUH FDUU\LQJ D
PAGE 92

IRXQG D SRRU 'XWFKPDQ ZLOOLQJ WR VKRZ KLP WKH URDG (DVW f 0RUJDQnV DQJHU DW WKH OD[LW\ RI WKH PHQ RI %DWRQ 5RXJH PLUURUV -XOLD /H*UDQGnV DQJHU DW WKH PHQ RI 1HZ 2UOHDQV 0RUJDQ UHMHFWHG WKH RUGHUV RI 3LFD\XQH %XWOHU SURKLELWLQJ WKH GLVSOD\ RI WKH &RQIHGHUDWH IODJ 9RZLQJ WR ZHDU RQH SLQQHG WR WKH ERVRP RI KHU GUHVV VKH SURFODLPHG WKH PDQ ZKR VD\V WDNH LW RII ZLOO KDYH WR SXOO LW RII IRU KLPVHOI WKH PDQ ZKR GDUHV DWWHPSW LWf§ZHOO D SLVWRO LQ P\ SRFNHW ZLOO ILOO XS WKH JDS DP FDSDEOH WRR (DVW f 'HVSLWH 0RUJDQnV EOXVWHU D GLDU\ HQWU\ WZR GD\V ODWHU UHYHDOV WKDW WKH
PAGE 93

KHOS EXW DGPLUH VXFK IRHV f 7KH QRELOLW\ DQG JHQWOHPDQO\ QDWXUH RI WKH 8QLRQ RIILFHUV FRQWUDVWV QRW RQO\ ZLWK WKH XQGLJQLILHG EHKDYLRU RI WKH UHVLGHQWV RI %DWRQ 5RXJH LQFOXGLQJ KHU RZQf EXW DOVR ZLWK WKH VXSSRVLWLRQ WKDW 1RUWKHUQ PHQ ZHUH VRPHKRZ ODFNLQJ 0RUJDQ HDUQHG WKH HQPLW\ RI KHU IHOORZ UHVLGHQWV E\ KHU DGPLUDWLRQ RI WKH FRQTXHURUV ,Q D MRXUQDO HQWU\ GDWHG 0D\ WKUHH GD\V DIWHU KHU HQFRXQWHU ZLWK WKH JHQWOHPDQO\ RIILFHUV LQ GRZQWRZQ %DWRQ 5RXJH 0RUJDQ DGPLWWHG WKDW FHUWDLQ ORFDOV ZHUH TXHVWLRQLQJ KHU IDPLO\n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f 7KLV HQWU\ VKRZV KRZ ZLWK GHIHDW &RQIHGHUDWH ZRPHQ KDG WR UHDGMXVW WKHLU EHOLHI LQ WKHLU PHQnV KRQRU DQG VXSHULRULW\ 6HFHVVLRQLVW UKHWRULF SRVLWHG D VHHPLQJO\ QDWXUDO VXSHULRULW\ IRU 6RXWKHUQ PHQ 7KH LQYDGLQJ
PAGE 94

UKHWRULFDO SUHPLVHV MXVWLI\LQJ D VHSDUDWH 6RXWKHUQ QDWLRQ $V 6RXWKHUQ PHQ WKH GLUHFW HPERGLPHQW RI WKH &RQIHGHUDF\ SURYHG XQDEOH WR RYHUFRPH WKHLU 1RUWKHUQ IRHV WKH ZRPHQ RI WKH &RQIHGHUDF\ EHJDQ WR GRXEW WKH ZLVGRP RI OR\DOW\ WR D QDWLRQ EXLOW XSRQ VXFK XQVWDEOH SUHPLVHV $ \HDU DIWHU WKH IDOO RI 1HZ 2UOHDQV DW WKH RWKHU HQG RI WKH &RQIHGHUDF\ WKH ZRPHQ RI 5LFKPRQG IRXQG WKHPVHOYHV EDWWOLQJ D IRH GLIIHUHQW IURP LQYDGLQJ :@H KRRV VRQV EURWKHUV t KXVEDQGV LV QRZ ILJKWLQJ IRU WKH ELJ PDQV QHJURV DUH GHWHUPG WR KDYH EUHGG RXW RI WKHVH EDUQV t WKDW DW D SULFH WKDW ZH FDQ SD\ RU ZH ZLOO VODXJKWHU DV ZH JR
PAGE 95

6RFDOOHG EUHDG ULRWV DFWXDOO\ WRRN SODFH LQ PDQ\ FLWLHV LQ WKH &RQIHGHUDF\ 2Q 0DUFK D ULRW WRRN SODFH LQ 6DOLVEXU\ 1RUWK &DUROLQD ZKLFK WKH ORFDO QHZVSDSHU FDOOHG RQH RI WKH JD\HVW DQG OLYHOLHVW VFHQHV RI WKH DJH 7KH ZRPHQ@ WRRN WHQ EDUUHOV >RI IORXU@ DQG UROOHG WKHP RXW DQG ZHUH VHWWLQJ RQ WKHP ZKHQ OHIW ZDLWLQJ IRU D ZDJRQ WR KDXO WKHP DZD\
PAGE 96

&RQIHGHUDWH QDWLRQ 7KH ULRW DOVR PDUNHG WKH ILUVW RUJDQL]HG SURWHVW RI QDWLRQDO VLJQLILFDQFH E\ &RQIHGHUDWH ZRPHQ 7KRXJK VRPH GHWDLOV RI WKH GLVWXUEDQFH UHPDLQ LQ GLVSXWH ZKDW VHHPV FOHDU LV WKDW D JURXS RI ZRPHQ WULHG WR PHHW ZLWK *RYHUQRU -RKQ /HWFKHU RQ WKH PRUQLQJ RI $SULO WR H[SUHVV WKHLU FRQFHUQV *HWWLQJ QR VDWLVIDFWLRQ WKURXJK RIILFLDO FKDQQHOV D QXPEHU RI ZRPHQ SHUKDSV RYHU D WKRXVDQG &KHVVRQ f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f 2WKHUV RQ WKH VFHQH QRWHG WKDW WKH ZRPHQ ZRUNLQJ WKHLU ZD\ WKURXJK WKH VWUHHWV ZHUH SUHSDUHG IRU UHVLVWDQFH 'U : $QGHUVRQ UHFDOOHG WKDW WKH ZRPHQ ZHUH DUPHG ZLWK UXVW\ ROG KRUVH SLVWROV FOXEV NQLYHV DQG PDQ\ FDUULHG ED\RQHWV LQ WKHLU EHOWV DQG VSHFLPHQV RI WKRVH KXJH ROG KRPHn PDGH NQLYHV ZLWK ZKLFK RXU VROGLHUV ZHUH ZRQW WR ORDG WKHPVHOYHV GRZQ LQ WKH ILUVW SDUW RI WKH ZDU TXRWHG LQ &KHVVRQ f ,Q LWV UHSRUW RI WKH ULRW WKH 1HZ
PAGE 97

$ IHZ LQGLYLGXDOV DWWHPSWHG WR UHVLVW WKH ZRPHQ EXW ZLWKRXW VXFFHVV 2QH PDQ ZKR VWUXFN D IHPDOH ZDV ZRXQGHG LQ WKH VKRXOGHU E\ D VKRW IURP D UHYROYHU DQG WKH WKUHDWHQLQJ DWWLWXGH RI WKRVH DUPHG ZLWK KDWFKHWV HWF LQWLPLGDWHG RWKHUV IURP DWWHPSWLQJ IRUFH 5HEHO LRQ 5HFRUG 9, f 7KH LQWHQVLW\ RI WKH ZRPHQnV DVVDXOW RYHUZKHOPHG WKH FLW\ SROLFH 7KH JRYHUQRU FDOOHG RXW WKH 3XEOLF *XDUG DQG DFFRUGLQJ WR PRVW DFFRXQWV JDYH WKH ULRWHUV ILYH PLQXWHV WR GLVSHUVH RU ULVN EHLQJ ILUHG XSRQ 2UGHU ZDV QRW FRPSOHWHO\ UHVWRUHG XQWLO -HIIHUVRQ 'DYLV KLPVHOI DSSHDUHG RQ WKH VFHQH DQG SOHDGHG ZLWK WKH FURZG 7KH ULRW HQGHG URXJKO\ WZR KRXUV DIWHU LW EHJDQ 7KH SROLFH DUUHVWHG IRUW\IRXU ZRPHQ DQG WZHQW\QLQH PHQ IRU WKHLU SDUW LQ WKH GLVWXUEDQFH &KHVVRQ f $FFRUGLQJ WR -RKQ %HDXFDPS -RQHV ZULWLQJ LQ KLV GLDU\ WKH IROORZLQJ GD\ 7KH PRE YLVLWHG PRVW RI WKH VKRSV DQG WKH SLOODJH ZDV SUHWW\ H[WHQVLYH f 'DYLVnV SUHVHQFH DW WKH VFHQH XQGHUVFRUHG ZKDW D VHULRXV SROLWLFDO WKUHDW WKH ULRW FRQVWLWXWHG 0DQ\ SHRSOH LQ DQG DURXQG 5LFKPRQG V\PSDWKL]HG ZLWK WKH SOLJKW RI WKH ULRWHUV 1RUWK &DUROLQLDQ 6DUD 3U\RU UHFHLYHG D OHWWHU IURP D IULHQG LQ 5LFKPRQG ZKLFK GHVFULEHG DQ HQFRXQWHU ZLWK D \RXQJ ZRPDQ RQ WKH VWUHHW DV WKH ULRW FRPPHQFHG 7KH JLUO WXUQHG WR PH ZLWK D ZDQ VPLOH DQG DV VKH URVH WR MRLQ WKH ORQJ OLQH WKDW KDG QRZ IRUPHG DQG ZDV PRYLQJ VKH VDLG VLPSO\ *RRGE\ ,nP JRLQJ WR JHW VRPHWKLQJ WR HDW $QG GHYRXWO\ KRSH \RXnOO JHW LWf§DQG SOHQW\ RI LW WROG KHU 3U\RU f

PAGE 98

-RKQ %HDXFLPS -RQHV KDG D UHPDUNDEO\ VLPLODU HQFRXQWHU DW URXJKO\ WKH VDPH PRPHQW $ \RXQJ ZRPDQ VHHPLQJO\ HPDFLDWHG EXW \HW ZLWK D VPLOH DQVZHUHG WKDW WKH\ ZHUH JRLQJ WR ILQG VRPHWKLQJ WR HDW FRXOG QRW IRU WKH OLIH RI PH UHIUDLQ IURP H[SUHVVLQJ WKH KRSH WKDW WKH\ PLJKW EH VXFFHVVIXO DQG UHPDUNHG WKH\ ZHUH JRLQJ LQ WKH ULJKW GLUHFWLRQ WR ILQG SOHQW\ LQ WKH KDQGV RI WKH H[WRUWLRQHUV f (YHQ -XGLWK 0F*XLUH D VWURQJ &RQIHGHUDWH SDUWLVDQ XQGHUVWRRG WKH PRWLYDWLRQ EHKLQG WKH GLVWXUEDQFH 2K WKDW WKHVH KDUGn KHDUWHG FUHDWXUHV >VSHFXODWRUV@ FRXOG EH PDGH WR VXIIHU VKH ZURWH LQ KHU GLDU\ RQ WKH GD\ RI WKH ULRW 6WUDQJH WKDW PHQ ZLWK KXPDQ KHDUWV FDQ LQ WKHVH GUHDGIXO WLPHV WKXV JULQG WKH SRRU f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f 5DFLVP DQG MLQJRLVP HQWHUHG LQWR 3XWQDPnV WKLQNLQJ DV ZHOO ,Q KHU MXGJPHQW WKH XQVDYRU\ EHKDYLRU RI WKH ULRWHUV FRXOG EH H[SODLQHG E\ WKH IDFW WKDW WKH\ ZHUH D KHWHURJHQHRXV FURZG RI 'XWFK ,ULVK DQG IUHH QHJURHV f 7KH KHWHURJHQHLW\ RI WKH FURZG SURYLGHG D ORJLF WKDW &RQIHGHUDWH SURSDJDQGLVWV XVHG WR GLIIXVH TXHVWLRQV DERXW WKH

PAGE 99

6RXWKHUQ QDWLRQ ,Q LWV $SULO HGLWRULDO WKH 5LFKPRQG ([DPLQHU GHVFULEHG WKH ULRWHUV DV $ KDQGIXO RI SURVWLWXWHV SURIHVVLRQDO WKLHYHV ,ULVK DQG DQG@ JDOORZV ELUGV IURP DOO ODQGV EXW RXU RZQ 7KH HGLWRUV FRQIODWHG WKRVH RXWVLGH WKH ODZ SURVWLWXWHV SURIHVVLRQDO WKLHYHVf ZLWK WKRVH IURP RXWVLGH WKH &RQIHGHUDF\ WR DUJXH WKDW WKH ULRW LQ 5LFKPRQG DV ZHOO DV WKH ULRWV LQ 6DOLVEXU\ DQG HOVHZKHUH ZHUH WKH UHVXOW RI D 8QLRQ FRQVSLUDF\ ,W LV LPSRVVLEOH WR GRXEW WKDW WKH FRQFHDOHG LQVWLJDWRUV LQ HDFK FDVH ZHUH WKH VDPH +DYLQJ GRQH WKH ZRUN LQ RQH FLW\ WKH\ WRRN WKH FDUV WR WKH QH[W 7KDW WKH\ DUH HPLVVDULHV RI WKH )HGHUDO *RYHUQPHQW LW LV HTXDOO\ GLIILFXOW WR GRXEW 5LFKPRQG ([DPLQHU $SULO f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nV EHKDYLRU +LVWRULDQ 0LFKDHO % &KHVVRQ KDV DUJXHG WKDW WKH 5LFKPRQG EUHDG ULRW ZDV QRW D VSRQWDQHRXV UHVSRQVH WR GLUH HFRQRPLF

PAGE 100

FLUFXPVWDQFHV EXW UDWKHU DQ RUJDQL]HG SUHPHGLWDWHG SURWHVW DJDLQVW WKH ZDU ,QGLYLGXDO ZRPHQ PLJKW KDYH KDG YDULRXV DJHQGDV )RU H[DPSOH RQH RI WKH OHDGHUV RI WKH ULRW 0DU\ -DFNVRQ GHVFULEHG E\ D UHSRUWHU IRU WKH ([DPLQHU DV D JRRG VSHFLPHQ RI D IRUW\ \HDU ROG $PD]RQ ZLWK WKH H\H RI WKH 'HYLO KDG EHHQ XQVXFFHVVIXO LQ KHU DWWHPSW WR JHW KHU ROGHVW VRQ GLVFKDUJHG IURP WKH DUP\ 7KH NH\ SRLQW IRU &KHVVRQ ZDV WKH UDGLFDO QDWXUH RI WKH ZRPHQnV DFWLRQV %XW PDQ\ 5LFKPRQG ZRPHQ VRPH RI ZKRP ZHUH TXLWH UHVSHFWDEOH DQG VROLGO\ PLGGOHFODVV DQG VRPH ZKR ZHUH DGPLWWHGO\ OHVV JHQWHHO ZHUH QRW DFWLQJ ZLWKLQ WKHLU WUDGLWLRQDO UROHV 7KLV VXUSULVLQJ EHKDYLRU DSSHDUHG WKURXJKRXW WKH &RQIHGHUDF\ EXW PRVW HPEDUDVVLQJO\ LQ LWV FDSLWDO 0HQ DW WKH WLPH GLG QRW NQRZ ZKDW WR PDNH RI VXFK EHKDYLRU f &KHVVRQnV DQDO\VLV ORJLFDOO\ GRYHWDLOV LQWR KRZ WKH ULRW ZDV HYHQWXDOO\ WUHDWHG E\ WKH SUHVV DQG E\ JRYHUQPHQW OHDGHUV 7KH ZRPHQ RI 5LFKPRQG DQG HOVHZKHUHf GLG LQGHHG VWHS RXWVLGH WKH WUDGLWLRQDO UROHV WKDW WKH &RQIHGHUDWH QDWLRQ KDG LPSRVHG RQ WKHP 7KHLU ULRW H[SUHVVHG WKHLU RZQ ERGLO\ QHHGV DQG GHVLUHV ZKLFK WKH QDWLRQ KDG DVNHG WKHP LQ WKH VSLULW RI SDWULRWLVP WR VXSSUHVV 7KXV LW LVQnW DOO WKDW VXUSULVLQJ WKDW ZRPHQ VWROH QRW RQO\ IRRG EXW DOVR MHZHOU\ VKRH OHDWKHU ILQH IDEULF DQG RWKHU OX[XU\ LWHPV +DYLQJ EHHQ GHQLHG WKHVH LWHPV IRU VR ORQJ DQG VHQVLQJ WKDW WKH &RQIHGHUDF\ FRXOG QRW RU ZRXOG QRWf OLYH XS WR LWV SURPLVHV UHJDUGLQJ WKHLU VDIHW\ DQG FRPIRUW WKH ZRPHQ RI 5LFKPRQG WRRN PDWWHUV LQWR WKHLU RZQ KDQGV :KDW WKH ZRPHQ RI 5LFKPRQG HQJDJHG LQ RQ $SULO ZDV D NLQG RI ERGLO\ DQDUFK\ 7KH\ UHVLVWHG WKH

PAGE 101

LPSRVLWLRQV GLHWDU\ DQG RWKHUZLVH RI WKH QDWLRQ RQ WKHLU ERGLHV DQG LQVWHDG DVVHUWHG WKH OHJLWLPDF\ DQG LPPHGLDF\ RI WKHLU RZQ GHVLUHV &KHVVRQ PLJKW ZHOO EH ULJKW WKDW 0HQ DW WKH WLPH GLG QRW NQRZ ZKDW WR PDNH RI VXFK EHKDYLRU EXW LQ WKH DIWHUPDWK RI WKH ULRW PDQ\ OHDGHUV XQGHUVWRRG WKDW WKH YHU\ OHJLWLPDF\ RI WKH &RQIHGHUDF\ KDG EHHQ FKDOOHQJHG 1RW VXUSULVLQJO\ VZLIW PDQO\ UHVROYH WRRN WKH SODFH RI DQ[LHW\ DQG FRQIXVLRQ 7KH HGLWRUV RI WKH 5LFKPRQG ([DPLQHU SURFODLPHG ,W LV JUHDWO\ WR EH UHJUHWWHG WKDW WKLV PRVW YLOODLQRXV DIIDLU ZDV QRW SXQLVKHG RQ WKH VSRW VXJJHVWLQJ WKDW WKH ULRWHUV VKRXOG KDYH EHHQ VKRW RQ VLJKW $ ZHHN ODWHU WKH HGLWRUV RI WKH 5LFKPRQG :KLJ DUJXHG WKDW WKH ULRW SURYLGHG D NH\ RSSRUWXQLW\ IRU WKH 'DYLV $GPLQLVWUDWLRQ WR UHDVVHUW LWV PDQOLQHVV 7KH SHRSOH DUH PDQO\ VR VKRXOG WKHLU JRYHUQPHQW EH DQG SXW D EROG FDOP IDFH RQ HYHU\ WKLQJ +DYH ZH JRWWHQ VR GHHS LQ WKH PLUH RI D VQHDNLQJ HYDVLYH DOWHUQDWHO\ WUXFNOLQJ DQG EXOO\LQJ SROLF\ DV QRW WR EH DEOH WR WXUQ URXQG DQG IDFH
PAGE 102

1R ZLGHVSUHDG UHEHOOLRQ HYHU WRRN SODFH ZLWKLQ WKH &RQIHGHUDF\ 6WLOO DV WKH ZDU QHZV JUHZ ZRUVH DQG ZRUVH HYHQ WKH PRVW VWDXQFK EHOLHYHUV LQ WKH 6RXWKHUQ QDWLRQ JUHZ GHVSRQGHQW )RU H[DPSOH .DWH &XPPLQJ IURP D ZHOOWRGR IDPLO\ LQ 0RELOH $ODEDPD DFWHG RQ KHU SDWULRWLF LPSXOVH DQG YROXQWHHUHG IRU VHUYLFH DV D QXUVH LQ &RQIHGHUDWH DUP\ KRVSLWDOV $IWHU D \HDU DQG D KDOI RQ WKH MRE VKH ZURWH LQ KHU MRXUQDO RQ 'HFHPEHU RI KHU DQG KHU IHOORZ FLWL]HQVn GHWHUPLQDWLRQ WR EH IUHH DQG LQGHSHQGHQW ,Q WKH SDVW \HDU ZH KDYH VXIIHUHG GLVDVWHU DIWHU GLVDVWHU VKH DGPLWWHG EXW QRWKLQJ LV ZRUWK KDYLQJ ZKLFK GRHV QRW FRVW D VWUXJJOH +DUZHOO f 'HVSLWH YDULRXV PLOLWDU\ VHWEDFNV &XPPLQJ IHOW GHHS FRQILGHQFH LQ WKH PHQ RI WKH &RQIHGHUDF\ :H KDYH PDQ\ WUXH DQG GHWHUPLQHG PHQ \HW ZKR ZLOO QHYHU \LHOG DV ORQJ DV WKH OLIHEORRG VWUHDPV WKURXJK WKHLU YHLQV KDYH QR IHDU IRU RXU FDXVH RXU PDUW\UV KDYH QRW RIIHUHG XS WKHLU OLYHV LQ YDLQ f ([DFWO\ RQH \HDU ODWHU .DWH &XPPLQJ ZDV VWLOO D QXUVH &RQIHGHUDWH SURVSHFWV KDG JURZQ HYHU ZRUVH DQG WKH EXWFKHU\ RI WKH ZDU KDG GDPSHQHG &XPPLQJn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f

PAGE 103

&XPPLQJnV WRQH GUDVWLFDOO\ FKDQJHG IURP MXVW D \HDU EHIRUH 2Q 'HFHPEHU VKH DVVHUWHG KDYH QR IHDU D \HDU ODWHU KHU HQWU\ LV IXOO RI IHDU /LYLQJ GHWHUPLQHG SDWULRWV SHRSOHG KHU ILUVW HQWU\ WKH ZRXQGHG DQG G\LQJ SRSXODWH WKH ODWWHU $W WKH HQG RI &XPPLQJ SXW KHU IDLWK LQ WUXH DQG GHWHUPLQHG PHQ DW WKH HQG RI VKH GHPDQGV /RUG WXUQ QRW WK\ IDFH IURP XV DQG VDYH VDYH XV IURP WKLV WHUULEOH VFRXUJH f (YHQ DPRQJ WKH IDLWKIXO WKH EHOLHI WKDW 6RXWKHUQ PHQ FRXOG ZLQ WKH ZDU DQG SURYH WKHLU VXSHULRULW\ ZDV VOLSSLQJ $V FRQILGHQFH LQ XOWLPDWH YLFWRU\ VOLSSHG PRUH DQG PRUH ZRPHQ WULHG WR UHFODLP WKHLU PHQ IURP WKH &RQIHGHUDF\ :RPHQ KDG EHHQ HQFRXUDJHG WR ZULWH XSEHDW OHWWHUV DV D ZD\ RI OLIWLQJ XS WKH PRUDOH RI PHQ DW WKH ZDUIURQW 2QH 9LUJLQLD ZRPDQ ZURWH WR KHU KXVEDQG LQ HDUO\ 'RQWH EH XQHDV\ DERXW RXV :H ZLOO WU\ DQG WDNH RI >RXU@VHOYHV WKHEHVW ZH FDQ GRQWH PLQG ZKDW KDYH WR GR >MXVW@ VR \RX FDQ JHW EDFNH VDIH TXRWHG LQ :LOH\ &RQIHGHUDWH :RPHQ f $QRWKHU ZRPDQ ZULWLQJ WR KHU KXVEDQG IURP WKHLU KRPH LQ 1RUWK &DUROLQD DVVXUHG KLP ZRXOG QRW KDYH \RX OHDYH \RXU FRXQWU\nV VHUYLFH DV ORQJ DV VKH QHHGV \RX DQG \RX FDQ VHUYH TXRWHG LQ :LOH\ (PEDWWOHG &RQIHGHUDWHV f ,Q WKHVH DQG PDQ\ RWKHU FDVHV WKH ZRPHQ LQYROYHG GLG SUHFLVHO\ ZKDW WKH &RQIHGHUDF\ QHHGHG WKHP WR GRf§WKH\ SODFHG WKHPVHOYHV LQ WKH EDFNJURXQG DQG HPSKDVL]HG QDWLRQ RYHU VHOI 6XFK VSLULW RI VHOIVDFULILFH LQVXUHG WKDW PHQ ZRXOG UHPDLQ DW WKHLU SRVWV

PAGE 104

EHFDXVH WKH\ KDG QR H[FXVH WR OHDYH 'HVHUWHUV FRXOG WKXV EH EUDQGHG FRZDUGV DQG GHVHUYH WKH HQPLW\ RI DOO OR\DO &RQIHGHUDWH ZRPHQ 6XFK VH[XDO EODFNPDLO ZRUNHG RQO\ LI ZRPHQ DW WKH KRPHIURQW ZLOOLQJO\ VXVWDLQHG WKH ILFWLRQ RI WKHLU RZQ ZHOOn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f :KHQ PHQ XQGHUVWRRG WKDW WKH ZRPHQ EDFN KRPH ZRXOG QRW ORRN DQJULO\ DW WKHLU GHVHUWLRQ LQ RWKHU ZRUGV ZKHQ WKH PHQ QR ORQJHU KDG WR VHUYH WKH VWDWHnV LQWHUHVWV WR EH FRQVLGHUHG PHQ WKH\ WRRN DGYDQWDJH RI WKHLU RSSRUWXQLWLHV 7KH OHWWHUV IURP &RQIHGHUDWH ZRPHQ HQFRXUDJLQJ GHVHUWLRQ RIWHQ KDYH DQ DSRORJHWLF WRQH 0DQ\ ZRPHQ VHHPHG WR UHDOL]H WKDW ZKDW WKH\ DVNHG RI WKHLU KXVEDQGV ZRXOG EH FRQVLGHUHG GLVOR\DO DQG XQSDWULRWLF )RU H[DPSOH D ZRPDQ IURP 1DQVHPRQG &RXQW\ 9LUJLQLD VHQW D OHWWHU WR KHU KXVEDQG GDWHG 'HFHPEHU ZKLFK RIIHUHG KLP D GHDO RI VRUWV GRQnW ZDQW \RX WR VWRS WLJKWHQ WKHP \DQNHHV WLOO \RX NLOO WKH ODVW RQH RI WKHP EXW WU\ DQG JHW RII DQG FRPH

PAGE 105

KRPH DQG IL[ XV DOO XS VRPH DQG WKHQ \RX FDQ JR EDFN DQG ILJKW WKHP D KHHS KDUGHU WKDQ \RX HYHU IRXJKW WKHP EHIRUH -RQHV f 7KLV ZRPDQ KRSHG WKDW WKH WHPSRUDU\ QDWXUH RI KHU UHJXHVW PLJKW PHHW WKH QDWLRQDO VWDQGDUGV RI SDWULRWLF VHOIVDFULILFH
PAGE 106

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f

PAGE 107

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f /LNH VLUHQV OXULQJ WKH VKLS RI WKH &RQIHGHUDF\ RQWR WKH URFNV DQG XWWHU GHVWUXFWLRQ WKHVH ZRPHQ DXJXUHG LOO IRU WKH QDWLRQ $V VXFK DUJXHG WKH HGLWRULDO WKHVH ZRPHQ KDG WR EH FRPEDWWHG :H KDYH QR ODZV WR UHDFK VXFK D FODVV EXW SXEOLF RSLQLRQ LW FRQFOXGHG WKHQ OHW WKDW EH XVHG ZLWKRXW PHUF\ 7KH IDFW WKDW ZRPHQ ZHUH DGRUQLQJ WKHLU SHUVRQV LQGLFDWHG WKDW DW OHDVW VRPH KDG UHMHFWHG WKH DGPRQLVKPHQWV RI WKHLU QDWLRQDO JRYHUQPHQW DQG WDNHQ FRQWURO RI WKHLU RZQ ERGLHV 7KHLU VHGXFWLYH SXUSRVHV UHSUHVHQWHG D SULYLOHJLQJ RI WKHLU RZQ GHVLUHV DQG DV WKH HGLWRUV RI WKH 0RELOH 1HZV VHHPHG WR IHHO D GHUHOLFWLRQ RI WKHLU GXW\ WR WKH &RQIHGHUDF\ ,Q IDFW LQ WKH H\HV RI VRPH GLHKDUG &RQIHGHUDWHV 6RXWKHUQ ZRPHQ ZHUH FXOSDEOH IRU WKH SRRU VKRZLQJ RI WKH &RQIHGHUDWH DUP\ .DWH &XPPLQJ LQ WKH LQWURGXFWLRQ WR KHU GLDU\ DVVHUWHG WKDW YHU\ PXFK RI WKLV IDLOXUH LV WR EH DWWULEXWHG WR XV KDYH VDLG PDQ\ D WLPH WKDW LI ZH GLG QRW VXFFHHG WKH ZRPHQ RI WKH 6RXWK ZRXOG EH UHVSRQVLEOH &XPPLQJ f 6XFK VFDSHJRDWLQJ KHOSHG SURWHFW

PAGE 108

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f 6HHQ DQRWKHU ZD\ WKRXJK WKHVH VWRULHV UHSUHVHQW D UHVSRQVH RQ WKH SDUW RI &RQIHGHUDWH ZRPHQ WR WKHLU SXUSRUWHG GLVOR\DOW\ ,Q RQH LQVWDQFH D 9HUPRQW SULYDWH SDUW RI DQ RFFXS\LQJ IRUFH PDUFKLQJ WKURXJK &XOSHSHU 9LUJLQLD UHFRUGHG WKH DEXVH VXIIHUHG E\ KLV FRPPDQGLQJ RIILFHU $ ZLQGRZ ZDV UDLVHG DQG D WKLQJ WKDW SUREDEO\ FDOOHG LWVHOI >D@ ODG\ 6SDW 6JXDUH LQ WKH IDFH RI &DSWDLQ *HRUJH 'DYHQSRUW DQG VFUHDPHG 7DNH WKDW
PAGE 109

$ ODG\ FDOOHG IURP DQ XSSHU ZLQGRZ WR D OLWWOH JLUO RQ WKH VLGHZDON -XOLD FRPH LQ WKLV PLQXWH FKLOG 7KDW
PAGE 110

. -RQHV f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nV GHGLFDWLRQ UHSOD\V WKH EDVLF UKHWRULF RI WKH VFULSW RI 6RXWKHUQ ZRPDQKRRG &RQIHGHUDWH ZRPHQ ZHUH DQG UHPDLQHGf SLRXV GRPHVWLF SRVVHVVHG RI ]HDORXV IDLWK IRUWLWXGH UHYHUHQFH DQG SDWULRWLVP 0RUHRYHU 'DYLV DJDLQ DVVLJQV WKH SHGDJRJLFDO WDVN RI WKH 6RXWKHUQ QDWLRQ WR ZRPHQ HQFRXUDJLQJ WKHP WR WHDFK WKHLU FKLOGUHQ WR HPXODWH WKH GHHGV RI RXU UHYROXWLRQDU\ VLUHV

PAGE 111

'DYLVnV GHGLFDWLRQ RQFH DJDLQ FDOOV XSRQ ZRPHQ WR VXEPLW WKHPVHOYHV WR WKH GLFWDWHV RI WKHLU PHQ *LYHQ WKH WDVN RI UHFRQVWUXFWLRQ IDFLQJ WKH GHIHDWHG &RQIHGHUDWHV 'DYLVn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nV ERGLHV KDG WR EH PDGH OHVV GDQJHURXV DQG PRUH SROLWLFDOO\ PDOOHDEOH 7KH ILFWLRQ JHQHUDWHG LQ WKH SRVWZDU &RQIHGHUDF\ SURYLGHG D PHWKRGRORJ\ E\ ZKLFK WKH VXEGXLQJ RI ZRPHQ FRXOG EH DFFRPSOLVKHG 127(6 n+LVWRULDQ 'UHZ *LOSLQ )DXVW LQ DQ HVVD\ FRQVLGHULQJ WKH UROH RI ZRPHQ LQ WKH &RQIHGHUDWH ZDU HIIRUW KDV UHDFKHG WKH IROORZLQJ SURYRFDWLYH FRQFOXVLRQ +LVWRULDQV KDYH ZRQGHUHG LQ UHFHQW \HDUV ZK\ WKH &RQIHGHUDF\ GLG QRW HQGXUH ORQJHU ,Q FRQVLGHUDEOH PHDVXUH ZRXOG VXJJHVW LW ZDV EHFDXVH VR PDQ\ ZRPHQ GLG QRW ZDQW LW WR 7KH ZD\ LQ ZKLFK WKHLU LQWHUHVWV LQ WKH ZDU ZHUH SXEOLFO\ GHILQHGf§LQ D YHU\ UHDO VHQVH GHQLHGf§JDYH ZRPHQ OLWWOH UHDVRQ WR VXVWDLQ WKH FRPPLWPHQW PRGHUQ ZDU UHTXLUHG ,W PD\ ZHOO KDYH EHHQ EHFDXVH RI LWV ZRPHQ WKDW WKH 6RXWK ORVW WKH &LYLO :DU f )DXVW QRWHV WKDW 6RXWKHUQ ZRPHQ ZHUH ZULWWHQ RXW RI DQ\ VXEVWDQWLYH UROH LQ PDNLQJ RI WKH &RQIHGHUDWH QDWLRQ 7KH\ LQVWHDG DVVXPHG WKH UROH RI SRWHQWLDO YLFWLPV WR EH VDYHG E\ VWURQJ VXSHULRU 6RXWKHUQ PHQ :KHQ WKDW YLFWLPL]DWLRQ EHFDPH

PAGE 112

DQ DFWXDOLW\ DQG QR VXEVHTXHQW UHVFXH RFFXUUHG ZRPHQ URFNHG WKH VRFLDO VWUXFWXUH RI WKH &RQIHGHUDF\ E\ VSHDNLQJ RXW DUJXLQJ WKDW WKHLU QHHGV DQG ERGLHVf PDWWHUHG ,Q GRLQJ WKLV 6RXWKHUQ ZRPHQ FRQWULEXWHG WR WKH FROODSVH RI WKH P\WK RI WKH VXSHULRU 6RXWKHUQ PDQ DQG E\ DVVRFLDWLRQ WKH FROODSVH RI WKH &RQIHGHUDF\ 3XW VLPSO\ GXULQJ WKH &LYLO :DU WKH PLUURU FUDFNHG 6HH )DXVW $OWDUV RI 6DFULILFH &RQIHGHUDWH :RPHQ DQG WKH 1DUUDWLYHV RI :DU LQ 'LYLGHG +RXVHV *HQGHU DQG WKH &LYLO :DU 1HZ
PAGE 113

7KXV WKLV SHUIRUPDQFH RI 6RXWKHUQ ZRPDQKRRG ZDV FRQQHFWHG FORVHO\ WR RWKHU QDUUDWLYHV RI 6RXWKHUQ FXOWXUH QDUUDWLYHV WKDW XOWLPDWHO\ ZHUH HPSOR\HG WR DUJXH IRU DQG MXVWLI\ VHFHVVLRQ DQG WKH FUHDWLRQ RI D VHSDUDWH 6RXWKHUQ QDWLRQ ,Q SDUWLFXODU ZRPHQnV VXERUGLQDWLRQ QRW RQO\ SURYLGHG 6RXWKHUQ PHQ ZLWK WKH RSSRUWXQLW\ WR EH FKLYDOURXV DQG KRQRUDEOH EXW DOVR SURYHG WKH OHJLWLPDF\ RI D KLHUDUFKLFDOO\ RUJDQL]HG VRFLHW\ GHSHQGHQW RQ WKH VXEMHFWLRQ RI D ZKROH UDFH RI SHRSOH 6HH %XWOHU *HQGHU 7URXEOH 1HZ
PAGE 114

SDUWLFXODU VFHQH VR DV WR HQGRUVH DQG HQFRXUDJH WKHLU UHVSHFWLYH PDQnV VHQVH RI KLV RZQ EUDYHU\ DQG KRQRU -RQHV ODWHU VXJJHVWV WKDW VRPH VHQVH RI YRLFH PLJKW EH UHFRXSHG IRU 6RXWKHUQ ZRPHQ LQ ZULWLQJ EXW WKDW WKHVH ZRPHQ ZHUH IRUFHG WR VSHDN WKURXJK WKH PDVN ZKLFK FRYHUHG XS WKDW ZKLFK ZDV FRQVLGHUHG XQXWWHUDEOH LQ WKH ODUJHU ZRUOG f 6HH -RQHV 7RPRUURZ ,V $QRWKHU 'D\ %DWRQ 5RXJH /RXLVLDQD 6WDWH 8QLYHUVLW\ 3UHVV f SS ,Q 7KLV 6H[ :KLFK ,V 1RW 2QH ,ULJDUD\ GLVFXVVHV KRZ LQ KHU MXGJPHQW WKH SKDOORFHQWULF QDWXUH RI :HVWHUQ FXOWXUH UHTXLUHV DQG SURYLGHV PHFKDQLVPV IRU WKH FRPPRGLILFDWLRQ RI WKH IHPLQLQH 2QH RI WKRVH PHFKDQLVPV LV ODQJXDJH ZKLFK LV HQIRUFHG RQ ZRPHQ DQG ZKLFK WKH\ PXVW PLPLF 6RFLDLO\ >ZRPHQ@ DUH REMHFWV IRU DQG DPRQJ PHQ DQG IXUWKHUPRUH WKH\ FDQQRW GR DQ\WKLQJ EXW PLPLF D ODQJXDJH WKDW WKH\ KDYH QRW SURGXFHG QDWXUDOO\ WKH\ UHPDLQ DPRUSKRXV VXIIHULQJ IURP GULYHV ZLWKRXW DQ\ SRVVLEOH UHSUHVHQWDWLYHV RU UHSUHVHQWDWLRQV )RU WKHP WKH WUDQVIRUPDWLRQ RI WKH QDWXUDO LQWR WKH VRFLDO GRHV QRW WDNH SODFH H[FHSW WR WKH H[WHQW WKDW WKH\ IXQFWLRQ DV FRPSRQHQWV RI SULYDWH SURSHUW\ RU DV FRPPRGLWLHV f ,ULJDUD\nV VSHFXODWLRQV VHHP WR DSSO\ HVSHFLDOO\ ZHOO WR WKH FRQFHSWLRQV RI 6RXWKHUQ ZRPDQKRRG DUWLFXODWHG E\ DGYRFDWHV RI WKH &RQIHGHUDF\ :RPHQ PLPLF WKH ODQJXDJH RI WKH QDWLRQ (YHQ WKRVH PRPHQWV RI SRVVLEOH GLVUXSWLRQ ZRUN ZLWK QRW DJDLQVW WKH VFULSW RI QDWLRQ 6RXWKHUQ ZRPHQ UHPDLQ DPRUSKRXV LQ WKH VHQVH WKDW DV $QQH *RRGZ\Q -RQHV VXJJHVWV 5DWKHU WKDQ D SHUVRQ WKH &RQIHGHUDWH ZRPDQ LV D SHUVRQLILFDWLRQ HIIHFWLYH RQO\ DV VKH ZRUNV LQ RWKHUVn LPDJLQDWLRQV (IIRUWV WR MRLQ SHUVRQ DQG SHUVRQLILFDWLRQ WR PDNH VHOI LQRW V\PERO PXVW IDLO EHFDXVH WKH LGHD RI VRXWKHUQ ZRPDQKRRG VSHFLILFDOO\ GHQLHV WKH VHOI $ -RQHV f &RQIHGHUDWH ZRPHQ WKXV EHFRPH SULYDWH SURSHUW\ WR WKH H[WHQW WKDW WKH\ DUH PDGH WR HPERG\ WKH WHQHWV RI WKH 6RXWKHUQ QDWLRQ 6HH ,ULJDUD\ 7KLV 6H[ :KLFK ,V 1RW 2QH WUDQV &DWKHULQH 3RUWHU ZLWK &DURO\Q %XUNH ,WKDFD &RUQHOO 8QLYHUVLW\ 3UHVV f SS E(YDQVnV H[SUHVVLRQ RI SROLWLFDO RSLQLRQV PDUNV 0DFDUD IRU (OL]DEHWK 0RVV DV D GHSDUWXUH IURP WKH FRQYHQWLRQV RI DQWHEHOOXP ILFWLRQ E\ 6RXWKHUQ ZRPHQ )RU LQ D OLWHUDU\ WUDGLWLRQ WKDW ZDV FRQFHLYHG DV DQ RXWOHW IRU LQGLUHFW SROLWLFDO FRPPHQWDU\ 0DFDULD ZDV RYHUWO\ SROLWLFDO ,Q D WUDGLWLRQ GHVLJQHG WR UHVROYH VHFWLRQDO FRQIOLFW WKURXJK HPSKDVL]LQJ VLPLODULWLHV EHWZHHQ QRUWKHUQHUV DQG VRXWKHUQHUV 0DFDULD DUJXHG WKDW FRPSURPLVH ZDV LPSRVVLEOH ,Q D WUDGLWLRQ WKDW GHSHQGHG

PAGE 115

XSRQ DQ HQGLQJ ZLWK WKH KHURLQHnV PDUULDJH DQG DVVXPSWLRQ RI FRQYHQWLRQDO ZRPHQnV UROHV 0DFDULD HQGHG ZLWK LWV KHUR GHDG LWV KHURLQHV XQPDUULHG f 0RVV DVFULEHV WKLV LQDELOLW\ WR FRQIRUP WR WKH FRQYHQWLRQV RI DQWHEHOOXP VRXWKHUQ GRPHVWLF ILFWLRQ WR (YDQVnV DQ[LHW\ DERXW WKH IXWXUH RI WKH &RQIHGHUDF\
PAGE 116

&+$37(5 5(&2148(5,1* 2/' 7(55$,1 3$75,$5&+$/ 5(326,7,21,1* ,1 $8*867$ -$1( (9$16n6 67 (/02 7R VD\ WKDW $XJXVWD -DQH (YDQV ZDV DQ XQUHSHQWDQW &RQIHGHUDWH PLJKW EH DQ XQGHUVWDWHPHQW ,Q HDUO\ (YDQV UHVSRQGHG WR D OHWWHU IURP IHOORZ ZULWHU / 9LUJLQLD )UHQFK RI 7HQQHVVHH UHTXHVWLQJ WKDW VKH HQGRUVH D SUR8QLRQ PHPRULDO ZLWK D GHILQLWLYH UHMHFWLRQ 6RXWKHUQ@ IUHHGRP 7KRXJK DQ[LRXV

PAGE 117

WR GR KHU SDUW (YDQV WDFLWO\ DFNQRZOHGJHV WKDW &RQIHGHUDWH PHQ OLWHUDOO\ DQG ILJXUDWLYHO\ ZLHOG WKH ELJ VWLFN (YDQV LQFOXGHV LQ KHU OHWWHU D VKRUW VWDQ]D IURP D SRHP ZKLFK IXUWKHU LOOXVWUDWHV KHU ZLOOLQJ VXEPLVVLRQ 0DQ IRU WKH ILHOG DQG ZRPDQ IRU WKH KHDUWK 0DQ IRU WKH VZRUG DQG IRU WKH QHHGOH VKH 0DQ ZLWK WKH KHDG DQG ZRPDQ ZLWK WKH KHDUW 0DQ WR FRPPDQG DQG ZRPDQ WR REH\ 7KH HQG RI WKH ZDU GLG QRW OHVVHQ (YDQVnV &RQIHGHUDWH SDWULRWLVP 1HDUO\ WZR \HDUV DIWHU /HHnV VXUUHQGHU DW $SSRPDWWR[ VKH VWLOO UHIXVHG WR PHHW ZLWK D )HGHUDO RIILFHU FRPPHQGHG WR KHU DWWHQWLRQ E\ D IULHQG $ -RQHV f ,Q D OHWWHU WR %HDXUHJDUG GDWHG 0DUFK (YDQVnV ILHU\ EHOLHI LQ KHU QDWLRQ DQG KHU DQJHU RYHU WKH PLVWUHDWPHQW H[HUFLVHG DJDLQVW LW ZHUH VWLOO HYLGHQW 0RUH SLWLDEOH WKDQ 3RODQG DQG +XQJDU\ DQG TXLWH DV KHOSOHVV DV ZHUH WKH $VLD 0LQRU SURYLQFHV ZKHQ JRYHUQHG E\ WKH 3HUVLDQ 6DWUDSV ZH RI WKH SVHXGR WHUULWRULHV VLW OLNH ,VUDHO LQ WKH &DSWLYLW\ KLGLQJ WKH GD\ RI UHWULEXWLRQf§WKH 'LHV 7UDH WKDW PXVW VXUHO\ GDZQ LQ EORRG XSRQ WKH QDWLRQ WKDW RSSUHVVHG XV *ULIILWK f 7KH YDULRXV QDWLRQV (YDQV PHQWLRQV KDG VXIIHUHG RU ZHUH VXIIHULQJ WKURXJK SHULRGV LQ ZKLFK WKHLU ULJKW WR VHOIUXOH KDG EHHQ GLVVROYHG )RU (YDQV WKH &RQIHGHUDF\ VXIIHUHG VLPLODUO\ ,Q KHU PLQG DQG LQ WKH PLQGV RI PDQ\ GLHKDUG UHEHOV WKH &RQIHGHUDF\ ZDV GHIHDWHG EXW QRW GHDG
PAGE 118

FLWL]HQVKLS D SROLWLFDO OLPER WKDW GHVLJQDWHG &RQIHGHUDWHV DV QRQHQWLWLHV 6KH UHMHFWHG WKH DOWHUQDWLYH RI WKH UHXQLRQ RI WKH WZR UHJLRQV LQ WKDW VKH VWLOO YLHZHG 1RUWKHUQ VRFLHW\ DV FRUUXSW 7KH PHQ DUH HIIHPLQDWH VHOILVK PRVW XQVFUXSXORXVO\ JUDVSLQJ DQG XWWHUO\ GHYRLG RI QDWLRQDO SULGH RU GLVLQWHUHVWHG SDWULRWLVPf§WKH ZRPHQ DUH PDVFXOLQH $PD]RQLDQf§VWURQJPLQGHG LPEXHG ZLWK KHLQRXV KHUHVLHV ERWK VRFLDO DQG UHOLJLRXVf§WKH FKLOGUHQf§KHDYHQ KHOS WKHP DUH QRW FKLOGUHQ EXW PLQLDWXUH ZRPHQ RI IDVKLRQ DQG SURJUHVV *ULIILWK f 7KHVH FKDUJHV UHSULVH PDQ\ RI WKH DUJXPHQWV PDGH E\ SURn VHFHVVLRQLVWV EHIRUH WKH ZDU WR OHJLWLPL]H VHSDUDWLRQ (YDQV FOHDUO\ VRXJKW WR UHWDLQ WKH LGHD RI WKH &RQIHGHUDWH QDWLRQ JRLQJ DV IDU DV WR VLJQ KHU OHWWHU WR %HDXUHJDUG 6LQFHUHO\ \RXU IULHQG t *UDWHIXO FRXQWU\ZRPDQ 'HVSLWH (YDQVnV RZQ ZDUWLPH DGYHQWXUHV KHU ZLOOLQJQHVV WR VXEPLW WR &RQIHGHUDWH PHQ PDQLIHVWHG LWVHOI LQ KHU ILUVW SRVWZDU QRYHO 6W (OPR f 5HDGLQJ 6W (OPR LQ FRQQHFWLRQ ZLWK ERWK &KDUORWWH %URQWHnV -DQH (\UH WR ZKLFK FULWLFV FRQVLVWHQWO\ FRPSDUHG 6W (OPR DQG KHU ILUVW VXFFHVVIXO QRYHO %HXODK f VKRZV KRZ (YDQVnV WKLQNLQJ DERXW WKH UROH RI ZRPHQ LQ WKH SRVWZDU &RQIHGHUDF\ KDG UHYHUWHG EDFN WR WKH DQWHEHOOXP LGHDO RI 6RXWKHUQ ZRPDQKRRG
PAGE 119

FKDUDFWHU EXW DOVR WKH XWWHU GHYDVWDWLRQ RI KHU ERG\ ,Q WKLV ZD\ (GQDnV ZHDNQHVV VXSSRVHGO\ VHOILQIOLFWHG WKURXJK JUDVSLQJ DPELWLRQf QHFHVVLWDWHV D VWURQJ PDQf§LQ WKLV FDVH 6W (OPR 0XUUD\ (GQDnV ERGLO\ GHSULYDWLRQ GHIOHFWV JXHVWLRQV RI 6RXWKHUQ PDOH ERGLO\ GHIHFWV ,Q (GQDnV ZHDNQHVV 6W (OPR DQG E\ LQIHUHQFH 6RXWKHUQ PDQKRRG LQ JHQHUDOf VZHOOV LQ SRZHU YLULOLW\ DQG PRVW VLJQLILFDQWO\ QDWLRQDO PHDQLQJ &RQIHGHUDWHf HIILFDF\ :KLOH (YDQV UHPDLQHG XQUHSHQWDQW LQ GHIHDW HOVHZKHUH LQ WKH &RQIHGHUDF\ GHVSDLU SHUYDGHG WKH FRXQWU\VLGH WU\ WR GZHOO DV OLWWOH DV SRVVLEOH RQ SXEOLF HYHQWV -XGLWK :KLWH %URFNHQEURXJK 0F*XLUH ZURWH LQ ODWH $SULO RQO\ IHHO WKDW ZH KDYH QR FRXQWU\ QR JRYHUQPHQW QR IXWXUH f .DWH 6WRQH ZKRVH JUHDW IDLWK LQ WKH &RQIHGHUDWH FDXVH UHVRXQGHG WKURXJKRXW KHU GLDU\ DGPLWWHG KHU DQJXLVK LQ DQ HQWU\ GDWHG 0D\ 7KHUH LV D JORRP RYHU DOO OLNH WKH VKDGRZ RI 'HDWK :H KDYH JLYHQ XS KRSH IRU RXU EHORYHG &RXQWU\ DQG DOO DUH KXPLOLDWHG FUXVKHG WR WKH HDUWK $ SDVW RI JULHI DQG KDUGVKLS D SUHVHQW RI GDUNQHVV DQG GHVSDLU DQG D IXWXUH ZLWKRXW KRSH 7UXO\ RXU SXQLVKPHQW LV JUHDWHU WKDQ ZH FDQ EHDU $QGHUVRQ f :RUGV OLNH VXEPLVVLRQ DQG VXEMXJDWLRQ DSSHDU IUHTXHQWO\ LQ PDQ\ RI WKH GLDU\ HQWULHV RI ZRPHQ WKURXJKRXW WKH &RQIHGHUDF\ DIWHU QHZV RI /HHnV VXUUHQGHU UHDFKHG WKHP )DU IURP KDYLQJ (YDQVnV FRQWLQXHG HQWKXVLDVP PDQ\ ZRPHQ VLPSO\ ZHOFRPHG WKHLU PHQ KRPH DQG JRW GRZQ WR WKH EXVLQHVV RI UHFRQVWUXFWLQJ WKHLU OLYHV ,Q WKH SURFHVV WKH\ OHIW EHKLQG WKH LGHD RI QDWLRQ

PAGE 120

7KH SK\VLFDO DQG HPRWLRQDO GHYDVWDWLRQ ZUHDNHG E\ ZDU FDXVHG VRPH WR VSHFXODWH VXEWO\ DERXW WKH HIILFDF\ RI 6RXWKHUQ PHQ ,Q *KRVWV RI WKH &RQIHGHUDF\ *DLQHV 0 )RVWHU ORFDWHV WKH VRXUFH RI VXFK VSHFXODWLRQ LQ WKH LGHRORJ\ RI 6RXWKHUQ KRQRU 'HIHDW RQ WKH EDWWOHILHOG PXVW KDYH OHG VROGLHUV UDLVHG LQ D FXOWXUH WKDW FHOHEUDWHG SHUVRQDO EUDYHU\ DQG PDUWLDO VNLOOV WR TXHVWLRQ ZKHWKHU WKH\ KDG OLYHG XS WR H[SHFWDWLRQV WR TXHVWLRQ ZKHWKHU WKH\ KDG EHKDYHG KRQRUDEO\ f 7KH &RQIHGHUDWH DUP\ KDG EHHQ SODJXHG E\ KLJK OHYHOV RI GHVHUWLRQ SDUWLFXODUO\ GXULQJ WKH ODVW HLJKWHHQ PRQWKV RI WKH ZDU +RZHYHU WKH TXHVWLRQ RI ZKRP WR EODPH IRU WKH GHIHDW RI WKH &RQIHGHUDF\ H[SDQGHG WR LQFOXGH QRW RQO\ WKRVH PHQ ZKR KDG QRW IRXJKW DW DOO EXW DOVR WKRVH PHQ ZKR KDG SHUKDSV QRW IRXJKW ZHOO HQRXJK +DUPRQL]LQJ WKH WHQVLRQ EHWZHHQ WKH LGHDO RI KRQRU DQG WKH UHDOLW\ RI GHIHDW SURYHG GLIILFXOW $OO DURXQG WKHP UHWXUQLQJ VROGLHUV VDZ VLJQV RI WKHLU RZQ LQDGHTXDF\ 8QDEOH WR GHIHQG WKHLU FRXQWU\ DJDLQVW 8QLRQ LQYDVLRQ WKHVH VROGLHUV FRXOG VHH WKH GHVWUXFWLRQ RI WKH ODQGVFDSH RIWHQ FRGHG DV UDSHf DV ZHOO DV WKH GDQJHU WKDW KDG WKUHDWHQHG WKH SHRSOH PRVWO\ ZRPHQ DW WKH KRPHIURQW ,Q VKRUW WKH\ KDG IDLOHG LQ WKHLU FKLHI GXW\f§SURWHFWLRQ RI WKHLU FRXQWU\nV DQG VR PDQ\ WKRXJKWf WKHLU ZRPHQnV WHUULWRULDO LQWHJULW\ 7KH HIIHFWV RI GHIHDW VKRZHG WKHPVHOYHV LQ WKH EHKDYLRU RI PHQ WKURXJKRXW WKH &RQIHGHUDF\ 7UDYHOLQJ WKURXJK WKH 6RXWK LQ DQG :KLWHODZ 5HLG ZLWQHVVHG ILUVWKDQG WKH

PAGE 121

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f 7KLV IRUPHU :LOPLQJWRQ VRFLDOLWH FRXOG QRW DIIRUG (YDQVnV KDXJKWLQHVV WRZDUG WKH )HGHU£LV :LWK VXFK UHGXFHG FLUFXPVWDQFHV PDQ\ UHWXUQLQJ UHEHOV GHVSDLUHG RI UHWULHYLQJ WKHLU ORVW OLYHV ,Q D OHWWHU GDWHG -DQXDU\ 0DULD /RXLVD :DFNHU )OHHW UHVSRQGHG WR D OHWWHU IURP KHU VRQ E\ QRWLQJ WKDW PHQ ZHUH QRW HIIHFWLYHO\ DWWHPSWLQJ UHFRQVWUXFWLRQ FLWLQJ DQ H[DPSOH IURP D QHLJKERULQJ FRXQW\ 7KH SHRSOH LQ .LQJ :LOOLDP >&RXQW\@ DUH GRLQJ ZRUVH WKDQ LQ .LQJ DQG 4XHHQ >&RXQW\@ IHDU WKH VHFUHW LV WKH PHQ IRU WKH PRVW SDUW HUH GLVSLULWHG DQG DUH GULQNLQJ YHU\ KDUG )OHHW f 6LJQV RI ODFN KDG DOVR EHHQ LQVFULEHG RQ WKH ERGLHV RI PDQ\ RI WKH VROGLHUV 0DQ\ KDG EHHQ PDLPHG ORVLQJ OLPEV RU H\HV 2QH 9LUJLQLD ZRPDQ REVHUYHG WKDW WKH SK\VLFDO ODFN WKDW PDQ\ PHQ ODERUHG ZLWK PDGH WKHP LOOVXLWHG WR UHDVVXPH OHDGHUVKLS UROHV LQ 6RXWKHUQ VRFLHW\ WKH HPSW\ VOHHYH DQG WKH FUXWFK PDGH PHQ ZKR KDG XQIOLQFKLQJO\ IDFHG GHDWK LQ EDWWOH LPSRWHQW WR IDFH WKHLU IXWXUH JXRWHG LQ 6FRWW f

PAGE 122

&RQIODWLQJ WKH HPSW\ VOHHYH DQG WKH FUXWFK ZLWK LPSRWHQFH XQGHUVFRUHG D VWLOO GHHSHU DQ[LHW\ IHOW E\ PDQ\ &RQIHGHUDWH PHQf§WKDW GHIHDW FDUULHG ZLWK LW VH[XDO DV ZHOO DV SROLWLFDO FRQVHTXHQFHV 2Q WKH TXHVWLRQ RI PDVWHU\ DQG ORVV IRU ZKLWH PHQ LQ WKH SRVWEHOOXP 6RXWK KLVWRULDQ /HH$QQ :KLWHV DUJXHV WKDW WKH ZDU SURGXFHG D FULVLV LQ JHQGHU UHODWLRQV 6KH SRLQWV RXW WKDW RQH RI WKH UHDVRQV WKDW WKH LQVWLWXWLRQ RI VODYHU\ ZDV VR KLJKO\ SUL]HG ZDV LWV XQGHUZULWLQJ RI ZKLWH PHQnV PDQOLQHVV (LWKHU WKH EODFN PDQ LQ KLV FDSDFLW\ DV VODYH WR WKH ZKLWH PDQ ZRXOG JR RQ PDNLQJ KLV PDVWHU D PDQ :KLWHV FRQWHQGV RU WKH ZKLWH PDQ ZRXOG ORVH KLV VODYHV DQG ZLWK WKHP KLV FRQFHSW RI KLPVHOI DV D IUHH PDQ ZKLOH WKH EODFN PDQ DFKLHYHG KLV RZQ PDQKRRG DXWKRUnV HPSKDVLVf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

PAGE 123

PDUULDJH RI \RXU GDXJKWHUV WR EODFN KXVEDQGV TXRWHG LQ :KLWHV f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n DQLPDWH WKHLU VHOIUHVSHFW FRQILUP WKHLU UHVROYH DQG VXVWDLQ WKHLU SHUVRQDO KRQRU WKH\ ZLOO DW OHQJWK EHFRPH WKH EDVH VHUIV WKHLU HQHPLHV GHVLUH TXRWHG LQ )RVWHU f ,Q ORVLQJ WKH ZDU PHQ KDG ORVW WKH PRUDO DXWKRULW\ WR MXVWLI\ WKH SDWULDUFKDO RUGHULQJ RI 6RXWKHUQ VRFLHW\ 'DEQH\ DVNHG WKDW ZRPHQ ZLOOLQJO\ VXEPLW WR SDWULDUFKDO GLFWDWHV LQ RUGHU WR UHLQIODWH WKH FROOHFWLYH 6RXWKHUQ PDOH HJR ,Q GRLQJ VR 'DEQH\ VXJJHVWHG ZRPHQ ZRXOG EH GRLQJ ZKDW ZDV ZLWKLQ WKHLU GRPDLQ FDUHIXOO\ FRGHG E\ 'DEQH\ DV WKH KRPHf WR FRQILUP WKH OHJLWLPDF\ RI WKH LGHDOV RI WKH &RQIHGHUDF\ DQG WR KHOS WKHLU PHQ ILJKW EDFN DJDLQVW WKH FRORQL]LQJ HQVODYLQJ SROLWLFLDQV RI WKH 1RUWK ,Q RUGHU WR RYHUFRPH PDOH ODFN LW EHFDPH

PAGE 124

VSHFLILFDOO\ QHFHVVDU\ WR HIIDFH WKH YHU\ WKLQJ WKDW FRXOG GUDZ DWWHQWLRQ WR WKDW ODFNf§WKH IHPDOH ERG\ $V D ILHU\ SDUWLVDQ RI WKH &RQIHGHUDF\ $XJXVWD -DQH (YDQV ZDV PRUH WKDQ ZLOOLQJ WR WDNH SDUW LQ VXFK DQ HIIDFHPHQWL ,Q IDFW LQ KHU &LYLO :DU QRYHO 0DFDULD (YDQV DGYRFDWHG WKDW ZRPHQ SDUWLFXODUO\ VLQJOH ZRPHQf DOORZ WKHPVHOYHV WR EH FRQVXPHG E\ WKH FDXVH RI WKH &RQIHGHUDWH QDWLRQ 2QH RI WKH QRYHOn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£WLRQ UHGHHP P\ FRXQWU\ IURP WKDW JUHDW SULYLOHJH DP GHEDUUHG EXW \LHOG XS PRUH WKDQ VKH HYHU SRVVHVVHG JLYH P\ DOO RQ HDUWKf§P\ IDWKHU DQG \RXUVHOIf§WR RXU EHORYHG DQG VXIIHULQJ FRXQWU\ P\ HPSKDVLVf 8QDEOH WR ILJKW LQ WKH ZDU ,UHQH ILJKWV RQ KHU RZQ IURQW ,Q WZR AHDUV UHPRYHG IURP WKH ZDU LWVHOI (YDQV VHQVHG D QHZ SKDVH EHJLQQLQJ LQ WKH EDWWOH WR NHHS WKH LGHD RI WKH &RQIHGHUDF\ DOLYH ,Q WKLV EDWWOH ZRPHQ FRXOG DQG LQ IDFW KDG WR HQJDJH LQ VHOILPPRODWLRQ (YDQVnV FRQWULEXWLRQ WR WKLV EDWWO ZDV 6W (OPR

PAGE 125

6W (OPRn 7KH $UW RI 6XEPLVVLRQ VW (LPR LWVHOI LV LQ D VHQVH WKH SKRHQL[ WKDW URVH IURP WKH DVKHV RI (YDQVnV RZQ LQWHOOHFWXDO VHOILPPRODWLRQ (YDQV ZDQWHG WR ZULWH D KLVWRU\ RI WKH &RQIHGHUDF\ EXW VKH GLVFRYHUHG WKDW $OH[DQGHU 6WHSKHQV IRUPHU 9LFH 3UHVLGHQW RI WKH &RQIHGHUDF\ ZDV DOUHDG\ DW ZRUN RQ VXFK D SURMHFW ,Q D OHWWHU WR *HQHUDO 3 7 %HDXUHJDUG GDWHG 1RYHPEHU (YDQV ZURWH DERXW KHU UHDFWLRQ RQFH VKH GLVFRYHUHG 6WHSKHQVnV LQWHQWLRQVL KXPEO\ SXW P\ ILQJHUV RQ WKH WKURDW RI P\ DPELWLRXV GDULQJ GHVLJQ RI EHFRPLQJ WKH &RQIHGHUDWH ;HQRSKRQ DQG VWUDQJOHG LW FRQIHVV LW FRVW PH D VHYHUH VWUXJJOH WR UHOLQTXLVK WKH IRQG GUHDP EXW DEOHU KDQGV VQDWFKHG LW IURP P\ ZHDN ZRPDQO\ ILQJHUV DQG ZDYHG PH WR KXPEOHU SDWKV RI ODERU TXRWHG LQ )DXVW [[YLf (YDQVnV VLWXDWLRQ GLFWDWHV WKDW VKH FRPPLW D IRUP RI LQWHOOHFWXDO VXLFLGH 7KH ZHDN ZRPDQO\ ILQJHUV LQFDSDEOH RI JUDVSLQJ DQG KROGLQJ SROLWLFDO DPELWLRQ DUH QHYHUWKHOHVV VWURQJ HQRJJK WR VWUDQJOH KHU DPELWLRXV GDULQJ GHVLJQ RI EHFRPLQJ WKH &RQIHGHUDWH ;HQRSKRQ 7KRXJK VKH VWUXJJOHV WR GHQ\ KHU RZQ DPELWLRQ (YDQV GRHV ZKDW VKH FRQVLGHUV KHU GXW\ 6KH DFFHGHV WR WKH KXPEOHU SDWK ILFWLRQ WKDW LV RSHQ WR KHU (YDQVnV OHWWHU ZULWWHQ LQWHUHVWLQJO\ HQRXJK WR RQH RI WKRVH GHIHDWHG &RQIHGHUDWH JHQHUDOVf PDNHV FOHDU WKH GHELOLWDWLQJ QDWXUH IRU ZRPHQ RI WKH UHHVWDEOLVKHG SDWULDUFKDO RUGHU PHQ LQVLVWHG RQ WKH VXEPLVVLRQ RI ZRPHQ DQ LQVLVWHQFH WKDW DOVR GHPDQGHG WKDW ZRPHQ DFNQRZOHGJH WKHPVHOYHV DV ZHDN DQG KXPEOH

PAGE 126

6WLOO WKRXJK (YDQV PLJKW KDYH VWUXJJOHG WR FUXVK KHU DPELWLRQ VKH GLG LW QRQHWKHOHVV DQG KHU EOLW] RQ IHPDOH DPELWLRQ LQ 6W (OPR WDNHV WKH IRUP RI HIIDFHPHQW RI DQG DW WLPHV RXWULJKW DWWDFN RQ WKH ERG\ RI WKH QRYHO V PDLQ FKDUDFWHU (GQD (DUO (GQD D \RXQJ ZRPDQ ZKR EHFRPHV DQ HQRUPRXVO\ VXFFHVVIXO DXWKRU KDV FOHDU DXWRELRJUDSKLFDO FRQQHFWLRQV ZLWK (YDQV WKXV (GQD EHFRPHV D NLQG RI VXUURJDWH IRU (YDQV LQ WKH QRYHO $W WKH VDPH WLPH (YDQV WULHV WR ZULWH (GQDnV ERG\ RXW RI WKH WH[W FRQFOXGLQJ WKH QRYHO E\ PHUJLQJ (GQD ZLWK WKH QRYHOnV PDLQ PDOH FKDUDFWHU DQG QDPHVDNH 6W (OPR 0XUUD\ D PHUJHU WKDW KHDOV (GQD DQG PDNHV 6W (OPR D PDQ 7KH UHVXOW LV D QRYHO ZKLFK LV FRPSOLFLW ZLWK 5REHUW 'DEQH\nV EDVLF SROLWLFDO JRDO D GLVHPERGLHG ZRPDQKRRG ZKLFK SRVHV QR REVWDFOHV RU FKDOOHQJHV WR WKH IUDJLOH UHFRQVWUXFWHG SDWULDUFK\ 7KH QRYHO EHJLQV ZLWK DQ H[WHQGHG REVHUYDWLRQ RI (GQD ZKR LV WZHOYH \HDUV ROG DW WKH WLPH :KHQ (GQD ILUVW FRPHV LQWR WKH OLQH RI WKH UHDGHUnV VLJKW VKH LV FDUU\LQJ D EXFNHW RI ZDWHU RQ KHU KHDG 7KH ODUJH EODFN H\HV KHOG D VLQJXODU IDVFLQDWLRQ LQ WKHLU PLOG VSDUNOLQJ GHSWKV QRZ IXOO RI WHQGHU OLYLQJ OLJKW DQG FKLOGLVK JODGQHVV DQG WKH IOH[LEOH UHG OLSV FXUOHG LQ OLQHV RI RUWKRGR[ *UHHN SHUIHFWLRQ VKRZLQJ UHPDUNDEOH YHUVDWLOLW\ RI H[SUHVVLRQ ZKLOH WKH EURDG IXOO SROLVKHG IRUHKHDG ZLWK LWV SURPLQHQW VZHOOLQJ EURZV FRXOG QRW IDLO WR UHFDOO WR HYHQ FDVXDO REVHUYHUV WKH FDOP SRZHUIXO IDFH RI /RUHQ]R GHn 0HGLFLV ZKLFK LI RQFH ORRNHG RQ IDVWHQV LWVHOI XSRQ KHDUW DQG EUDLQ WR EH IRUJRWWHQ QR PRUH +HU KDLU EODFN VWUDLJKW ZDYHOHVV DV DQ ,QGLDQnV KXQJ DURXQG KHU VKRXOGHUV DQG JOLVWHQHG DV WKH ZDWHU IURP WKH GULSSLQJ EXFNHW WULFNOHG WKURXJK WKH ZUHDWK RI SXUSOH PRUQLQJ JORULHV DQG VFDUOHW F\SUHVV ZKLFK VKH KDG WZLQHG DERXW

PAGE 127

KHU KHDG HUH OLIWLQJ WKH FHGDU SDLO WR LWV UHVWLQJ SODFH 6KH ZRUH D VKRUWVOHHYHG GUHVV RI \HOORZ VWULSHG KRPHVSXQ ZKLFK IHOO QHDUO\ WR KHU DQNOHV DQG KHU OLWWOH EDUH IHHW JOHDPHG SHDUO\ ZKLWH RQ WKH JUHHQ JUDVV DQG UDQN GHZ\ FUHHSHUV WKDW FOXVWHUHG DORQJ WKH PDUJLQ RI WKH EXEEOLQJ VSULQJ +HU FRPSOH[LRQ ZDV XQXVXDOO\ WUDQVSDUHQW DQG HDUO\ H[HUFLVH DQG PRXQWDLQ DLU KDG URXJHG KHU FKHHNV WLOO WKH\ PDWFKHG WKH EULOOLDQW KXH RI KHU VFDUOHW FURZQ f 7KH QDUUDWRU IRFXVHV YHU\ VSHFLILFDOO\ RQ (GQDnV KHDG DQG IDFH SURYLGLQJ D FOHDU IUDPH RI UHIHUHQFH IRU HDFK GHWDLO VR WKDW KHU KHDG EHFRPHV TXLWH YLYLG +HU OLSV DUH IOH[LEOH DQG UHG DQG RI RUWKRGR[ *UHHN SHUIHFWLRQ KHU IDFH UHVHPEOHV /RUHQ]R GH 0HGLFLnV KHU KDLU LV OLNH DQ ,QGLDQnV /LWWOH DFWXDO GHVFULSWLRQ RI (GQDnV ERG\ LV RIIHUHG +HU \HOORZ KRPHVSXQ GUHVV FRYHUV LW GRZQ WR KHU DQNOHV DQG DIWHU UHDFKLQJ WKH ERWWRP RI (GQDnV ERG\ WKH UHDGHUnV JD]H LV UHGLUHFWHG WR KHU KHDGf§KHU FRPSOH[LRQ KHU FKHHNV KHU VFDUOHW FURZQ (GQDnV ODFN RI D IXOO\ GHVFULEHG ERG\ LV LPPHGLDWHO\ FRQWUDVWHG ZLWK WKH YHU\ ERGLO\ ZRUOG RI PHQ $V VKH LV ZDONLQJ VKH VWXPEOHV XSRQ WKH ODVW VHFRQGV RI D GXHO 6KH ZLWQHVVHV WKH NLOOLQJ RI D PDQ DQG WKHQ JHWV D FORVHXS YLHZ RI WKH GHDG ERG\ 7KH KD]HO H\HV VWDUHG EODQNO\ DW WKH VN\ DQG WKH KXH RI OLIH DQG H[XEHUDQW KHDOWK VWLOO JORZHG RQ WKH IXOO FKHHN EXW WKH EDOO KDG HQWHUHG WKH KHDUW DQG WKH ZDUP EORRG EXEEOLQJ IURP WKH EUHDVW GULSSHG RQ WKH JOLVWHQLQJ JUDVV f 7KH SHQHWUDWLRQ RI WKH EXOOHW QRW RQO\ GUDZV EORRG EXW DOVR GUDZV LQWR UHOLHI WKH ERG\ LWVHOI 9LROHQFH DQG GLVHDVH EHFRPH WKH SULPDU\ PRGHV IRU HQDFWLQJ WKH ERG\ LQ WKH QRYHO

PAGE 128

(YDQV EULQJV D ERG\ IXOO\ LQWR YLHZ RQO\ ZKHQ LW LV LQ D GHELOLWDWHG FRQGLWLRQ ,QGHHG (YDQV PDWHULDOL]HV (GQDnV ERG\ RQO\ ZKHQ VKH ZDQWV WR GR YLROHQFH WR LW $IWHU KHU JUDQGIDWKHU GLHV (GQD GHFLGHV WR WUDYHO WR &ROXPEXV *HRUJLD WR ORRN IRU IDFWRU\ ZRUN +RZHYHU WKH WUDLQ (GQD LV ULGLQJ FUDVKHV FDXVLQJ D JUHDW GHDO RI GDPDJH WR (GQDnV ERG\ DV KHU DWWHQGLQJ SK\VLFLDQ GHVFULEHV DP REOLJHG WR KXUW \RX D OLWWOH P\ FKLOG IRU \RXU VKRXOGHU LV GLVORFDWHG DQG VRPH RI WKH ERQHV DUH EURNHQ LQ \RXU IHHW f (GQD SDVVHV RXW IURP WKH SDLQ 6KH UHWXUQV WR FRQVFLRXVQHVV WR GLVFRYHU KHU IHHW DQG DQNOHV ZHUH WLJKWO\ EDQGDJHG f (GQDnV LQMXULHV GHVWUR\ KHU DELOLW\ WR JDLQ VRPH PHDVXUH RI VHOIVXIILFLHQF\ WKURXJK ZRUN 8QDEOH WR WDRYH DQG EHLQJ DQ RUSKDQ (GQD LV UHVFXHG E\ WKH SKLODQWKURSLF 0UV 0XUUD\ DQG WDNHQ WR WKH 0XUUD\ HVWDWH /H %RFDJH ZKHUH VKH IDOOV XQGHU WKH GRPDLQ RI WKH QRYHOnV KHUR 6W (OPR 0XUUD\ 0DQ\ FULWLFV ZKR KDYH ZULWWHQ DERXW 6W (OPR KDYH QRWHG LWV VLPLODULW\ WR -DQH (\UH 7KH QRYHOV GR KDYH VHYHUDO NH\ VLPLODULWLHV D SRRU RUSKDQ -DQH(GQDf ZKR WKURXJK HGXFDWLRQ DQG GHWHUPLQDWLRQ DGYDQFHV LQ OLIH WKH IODZHG KHUR 5RFKHVWHU6W (OPRf ZKRVH SURIHVVLRQV RI ORYH DQG SURSRVDO RI PDUULDJH DUH LQLWLDOO\ UHMHFWHG E\ WKH KHURLQH WKH FKDQJH WKDW WDNHV SODFH LQ WKH KHUR DOORZLQJ WKH PDUULDJH ILQDOO\ W RFFXU
PAGE 129

EHJLQQLQJ ZLWK WKH WLWOH RI WKH QRYHOf (YDQV UHZULWHV -DQJ (YUH SRVLWLQJ XOWLPDWH SRZHU IRU GHILQLQJ (GQDnV VHOI QRW LQ (GQDnV RZQ KDQGV EXW LQ WKH KDQGV RI PHQ 7KH PRVW REYLRXV GLIIHUHQFH EHWZHHQ WKH WZR QRYHOV LV WKHLU UHVSHFWLYH QDUUDWLYH VWUDWHJLHV -DQH (\UH LV D ILUVW SHUVRQ DFFRXQW LQ WKH ZRUGV RI -DQH KHUVHOI ,Q IDFW &KDUORWWH %URQWH QRW RQO\ LQLWLDOO\ SXEOLVKHG WKH QRYHO XQGHU WKH SVHXGRQ\P &XUUHU %HOO EXW -DQH (YUH ZDV DOVR VXEWLWOHG $Q $XWRELRJUDSK\ DQ DVFULSWLRQ WKDW PDQ\ FRQWHPSRUDU\ FULWLFV EHOLHYHG 7KH ERRN EHFDPH -DQHnV LQFDUQDWLRQ RI KHU VHOI KHU UHSUHVHQWDWLRQ RI HYHQWV XQPHGLDWHG E\ DQ\ QDUUDWRUILOWHU $QG ZLWK WKH DELOLW\ WR XVH ODQJXDJH FDPH D IRUP RI SRZHUf§WKH SRZHU WR DFKLHYH VHOIDFWXDOL]DWLRQ D VHOIDFWXDOL]DWLRQ QRW LQIRUPHG E\ DQ\ RI WKH TXDOLWLHV IDPLO\ VRFLRHFRQRPLF SRVLWLRQ SK\VLFDO DSSHDUDQFHf XVHG WR GHWHUPLQH OHJLWLPDWH VRFLDO VXEMHFWV 1DQF\ $UPVWURQJ DQG /HRQDUG 7HQQHQKRXVH FRQWHQG WKDW -DQHnV SRZHU FRQVWLWXWHV D YLROHQFH RI UHSUHVHQWDWLRQ LQ WKDW DIWHU EHLQJ DEXVHG DQG GLVFRXQWHG E\ WKRVH DURXQG KHU -DQH PXVW SHUIRUP D VLPLODU YLROHQFH ZKHQ VKH WDNHV XS WKH WDVN RI VHOIQDUUDWLYL]DWLRQ 7KH VDPH SURFHVV WKDW FUHDWHV -DQHnV nVHOIn SRVLWLRQV nRWKHUVn LQ D QHJDWLYH UHODWLRQVKLS WR WKDW VHOI 7KH YLROHQFH RI UHSUHVHQWDWLRQ LV WKH VXSSUHVVLRQ RI GLIIHUHQFH f 7KXV -DQHnV SRZHU LV UHYROXWLRQDU\ LQ WKDW VKH FDOOV LQWR TXHVWLRQ DOO WKH ROG PRGDOLWLHV RI SRZHU ZKLFK ZRUNLQJ

PAGE 130

WRJHWKHU FRQVWLWXWH QRW RQO\ VXEMHFWV EXW DOVR WKH ZD\ WKRVH VXEMHFWV VHH DQG DUH VHHQ (YDQV HPSOR\V D WKLUGSHUVRQ RPQLVFLHQW QDUUDWRU ZKR FRQVLVWHQWO\ IUDPHV (GQD DQG KHU H[SHULHQFHV /LNH -DQH (GQD EHFRPHV D ZULWHU EXW KHU &KULVWLDQ SLHW\ GLFWDWHV WKDW KHU VXEMHFW PDWWHU EH UHOLJLRQ QRW KHUVHOI 6KH HQYLVLRQV KHU ERRNV ZDQGHULQJ OLNH HYDQJHOV DPRQJ WKH SHRSOH DQG PDNLQJ VRPH PDQ ZRPDQ RU FKLOG KDSSLHU RU ZLVHU RU EHWWHUf§PRUH SDWLHQW RU PRUH KRSHIXOf§E\ WKHLU XWWHUDQFHV f 7KH QDUUDWRU DVVXUHV UHDGHUV WKDW 7KH IRQGHVW KRSH RI (GQDnV KHDUW ZDV WR EH XVHIXO LQ nKHU GD\ DQG JHQHUDWLRQnf§WR EH DQ LQVWUXPHQW RI VRPH JRRG WR KHU UDFH f :KHUHDV -DQH (\UH DLPV DW VHOIDFWXDOL]DWLRQ DQG SHUVRQDO HPSRZHUPHQW (GQD (DUO VHHNV WR EH DQ LQVWUXPHQW IRU WKH ODUJHU JRDO RI HGXFDWLQJ VRFLHW\ 7KH SRZHU RI WKH YLROHQFH RI UHSUHVHQWDWLRQ UHPDLQV ILUPO\ LQ (YDQVnV KDQGV DQG VKH XWLOL]HV WKDW SRZHU LQ VHYHUDO LQVWDQFHV $V VKH WULHV WR HQWHU WKH SURIHVVLRQ RI OLWHUDWXUH (GQD VHHNV WKH JXLGDQFH RI D KDXJKW\ EXW HPLQHQW OLWHUDU\ FULWLF WKH DSSURSULDWHO\ QDPHG 'RXJODVV 0DQQLQJ (GQD VXEPLWV D PDQXVFULSW WR 0DQQLQJ ZKRVH FRPPHQWV VHHPLQJO\ FRQGHPQ WKH PDQXVFULSW DQG (GQDnV DPELWLRQV WR GHDWK 7KH VXEMHFW \RX KDYH XQGHUWDNHQ LV EH\RQG \RXU FDSDFLW\f§ QR ZRPDQ FRXOG VXFFHVVIXOO\ KDQGOH LWf§DQG WKH VRRQHU \RX UHDOL]H \RXU RYHUHVWLPDWH RI \RXU SRZHUV WKH VRRQHU \RXU DVSLUDWLRQV ILQG WKHLU SURSHU OHYHO WKH VRRQHU \RX ZLOO VXFFHHG LQ \RXU WUHDWPHQW RI VRPH WKHPH EHWWHU VXLWHG WR \RXU IHPLQLQH DELOLW\ %XUQ WKH LQFORVHG 06 DQG ZULWH VNHWFKHV RI KRPH OLIHf§GHVFULSWLRQV RI SODFHV DQG WKLQJV \RX XQGHUVWDQG EHWWHU f

PAGE 131

,I WH[WV FRQVWLWXWH H[WHQVLRQV RI WKH DXWKRUnV VHOI 0DQQLQJnV FRPPHQWV DUH DV EUXWDO DQ DWWDFN RQ (GQD DV WKH WUDLQ ZUHFN 0DQQLQJ DGYRFDWHV D NLQG RI LQWHOOHFWXDO VHOILPPRODWLRQ ZKHQ KH DGYLVHV (GQD WR EXUQ KHU PDQXVFULSW 0DQQLQJnV SRVLWLRQ DV SURWHFWRU RI OLWHUDU\ DQG SDWULDUFKDO QRUPV FHGHV WR KLP WKH SRZHU WR XVH ODQJXDJH YLROHQWO\ DQG KH GRHV (GQDnV QHHG IRU VXEPLVVLRQ LQ RUGHU WR HQWHU WKH SURIHVVLRQ RI OHWWHUV SODFHV KHU LQ D GLVHPSRZHUHG SRVLWLRQ IURP WKH VWDUW /LNH -DQH (GQD GHFLGHV WR SUHVV DKHDG 7R DEDQGRQ KHU ULJKW WR HUXGLWLRQ IRUPHG QR SDUW RI WKH SURJUDPPH ZKLFK VKH ZDV PHQWDOO\ DUUDQJLQJ f 7KURXJK KDUG ZRUN (GQD EXLOGV XS D FRUSXV RI ZRUN -XVW DV VKH LV DERXW WR DFKLHYH KHU JUHDWHVW WULXPSK WKH SXEOLFDWLRQ RI KHU ILUVW ERRN (YDQV RQFH DJDLQ LQWHUYHQHV ZLWK DQ DWWDFN RQ (GQDnV ERG\ WKLV WLPH LQ WKH IRUP RI GLVHDVH $IWHU D GL]]\ VSHOO (GQD GLVFRYHUV WKDW VKH KDV D GDQJHURXV KHDUW FRQGLWLRQ +HU GRFWRU DGYLVHV D GUDVWLF SUHVFULSWLRQ
PAGE 132

XQFHUWDLQ WHUPV WKDW (GQD LV KHUVHOI WR EODPH IRU KHU ERGLO\ GLVWUHVVf§LQFHVVDQW PHQWDO ODERU KDV KDVWHQHG WKH DSSURDFK RI >WKH@ GLVHDVH (YDQV VXJJHVWV WKDW KDG (GQD RQO\ NQRZQ KHU SODFH D SODFH WKDW FDUULHV D GLVWLQFW VRFLRHFRQRPLF RYHUWRQH (GQD WKH FKLOG RI SRRU SDUHQWV VXIIHUV IURP KHU LQKHULWDQFHf VKH ZRXOG QRW VXIIHU VR PXFK -XVW DV (GQD LV EXLOGLQJ XS D IRUPLGLEOH ERG\ RI ZULWLQJ KHU SK\VLFDO ERG\ GHWHULRUDWHV (GQD LQLWLDOO\ LJQRUHV KHU GRFWRUn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f KLV ILUVW ZLIH %HUWKD 0DVRQ 7KH FKDQJH LQ WKHLU UHVSHFWLYH FLUFXPVWDQFHV DOVR FKDQJHV WKH UROHV WKH\ SOD\ IRU RQH DQRWKHU 1R ORQJHU DIUDLG RI EHLQJ FRQVXPHG E\ 5RFKHVWHU -DQH DJUHHV WR PDUU\ KLP ORYH \RX EHWWHU QRZ ZKHQ FDQ UHDOO\ EH XVHIXO WR \RX -DQH WHOOV KLP WKDQ GLG LQ \RXU VWDWH RI SURXG LQGHSHQGHQFH ZKHQ \RX GLVGDLQHG HYHU\ SDUW EXW WKDW RI WKH JLYHU DQG SURWHFWRU f 5RFKHVWHUnV LQMXULHV KLV QHHG WR EH KHOSHGf§WR EH OHG FRQGXFH WR -DQHnV QHZIRXQG VHQVH RI DXWRQRP\ 7KHLU PDUULDJH FDQ WDNH SODFH EHFDXVH DV

PAGE 133

1DQF\ 3HOO ZULWHV >5RFKHVWHU@ QR ORQJHU DFWV WKH UROH RI PDVWHU H[FOXVLYHO\ EHFDXVH KH KDV OHDUQHG VRPHWKLQJ DERXW WKH OLPLWV RI KLV RZQ SRZHU f ,Q 6W (OPR WKH -DQH5RFKHVWHU UHODWLRQVKLS KDV EHHQ LQYHUWHG 6W (OPR KDG EHHQ LQ QHHG RI VDYLQJ ZKHQ KH ILUVW SURSRVHG PDUULDJH WR (GQD (GQD DV \RX YDOXH \RXU VRXO P\ HWHUQDO ZHOIDUH JLYH \RXUVHOI WR PH KH EHJV *LYH \RXU SXUH VLQOHVV OLIH WR SXULI\ PLQH f 6W (OPR LV FRUUXSWf§KH KDV NLOOHG D PDQ LQ D GXHO ZDV FRPSOLFLW LQ WKH GHDWK RI WKDW PDQnV VLVWHU DQG KDG FRPPLWWHG YDULRXV RWKHU YLROHQW DFWV DJDLQVW ZRPHQ EHFDXVH KH KDG GLVFRYHUHG KLV IRUPHU ILDQFHH WR KDYH EHHQ XQIDLWKIXO (GQD RQ WKH YHUJH RI OHDYLQJ /H %RFDJH IRU 1HZ
PAGE 134

(GQD DFFHSWV )DU IURP QHHGLQJ KHOS KLPVHOI QRZ 6W (OPR LQVWHDG SURFODLPV KLV LQWHQWLRQ WR UHVFXH (GQD 7RGD\ VQDS WKH IHWWHUV RI \RXU OLWHUDU\ ERQGDJH 7KHUH VKDOO EH QR PRUH ERRNV ZULWWHQ 1R PRUH VWXG\ QR PRUH WRLO QR PRUH DQ[LHW\ QR PRUH KHDUWDFKHV $QG WKDW GHDU SXEOLF \RX ORYH VR ZHOO PXVW HYHQ KHOS LWVHOI DQG ZKLVWOH IRU D QHZ SHW KHU@ VZHHW KDQGV LQ >6W (OPRnV@ DQG WUXVW WR >KLP@ (GQD LV VR ZHDN WKDW 6W (OPR PXVW FDUU\ KHU LQWR WKH FKXUFK LQ RUGHU IRU WKHP WR EH PDUULHG

PAGE 135

1LQD %D\P LQ KHU H[WHQGHG GLVFXVVLRQ RI WKH QRYHOV RI $XJXVWD -DQH (YDQV DUJXHV WKDW (YDQVnV KHURLQHV DUH WKH VWURQJHVW PRVW EULOOLDQW DQG PRVW DFFRPSOLVKHG LQ WKH ORQJ OLQH RI ZRPDQnV KHURLQHV f VLF@ DQG DP

PAGE 136

LQFRPSHWHQW WR SURQRXQFH XSRQ LW DV D FULWLF \HW IRXQG WKH ERRN GHHSO\ LQWHUHVWLQJ DQG WKLQN LW FDOFXODWHG WR GR JRRG E\ LWV WRQH RI H[DOWHG IHPDOH KHURLVP %RQQHU f *UHHQ SURPLVHV WR IROORZ (GQDnV H[DPSOH RI VHOILPSURYHPHQW DQG UHWXUQV WR WKH VWXG\ RI KHU /DWLQ
PAGE 137

LQ WLPH WR UHVFXH %HXODK IURP WKH SK\VLFDO GHFLPDWLRQ VXUH WR DULVH IURP KHU XQFKHFNHG DPELWLRQ 0RUHRYHU ZKLOH (GQD PXVW EH FDUULHG ERGLO\ WR WKH FKDSHO E\ 6W (OPR %HXODK VKUXJV RII KHU GRXEWV PDUULHV +DUWZHOO DQG WDNHV XSRQ KHUVHOI WKH WDVN RI UHVFXLQJ KHU KXVEDQG IURP KLV DWKHLVP :KLOH FULWLFV RI %HXODK SRLQW RXW WKH VHHPLQJ LQDSSURSULDWHQHVV RI WKH QRYHOnV FRQFOXVLRQ FRPSDUHG WR (GQD (DUOnV VLWXDWLRQ RI WKH HQG RI VW (OPR %HXODK DFWXDOO\ IDUHV SUHWW\ ZHOO (YDQV XVHV %HXODK WR FKDUW SRVVLEOH IRUPDWLRQV RI VRXWKHUQ ZRPDQKRRG DQG %HXODKnV WUDQVJUHVVLRQV IURP VWDQGDUG IHPDOH EHKDYLRU KHU IOLUWDWLRQ ZLWK DWKHLVP KHU EHOLHI LQ WKH QHHG IRU ZRPHQ WR EH VHOIVXIILFLHQWf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f %HXODK XOWLPDWHO\ SD\V WKDW GHEW QRW ZLWK PRQH\ DQG QRW DV +DUWZHOOnV GDXJKWHU EXW ZLWK UHOLJLRXV SURVHO\WL]LQJ DV KLV ZLIH

PAGE 138

7R VDYH KHU KXVEDQG IURP KLV XQEHOLHI LV WKH ODERU RI IXWXUH \HDUV 6KH KDG OHDUQHG WR VXIIHU DQG WR EHDU SDWLHQWO\ DQG WKRXJK KHU SDWK ORRNV VXQQ\ DQG KHU KHDUW WKUREV ZLWK KDSS\ KRSHV WKLV RQH VKDGRZ OXUNV RYHU KHU KRPH DQG GLPV KHU MR\V f %HXODKnV PDUULDJH WR +DUWZHOO LV QRW RQO\ WKH UHSD\PHQW RI D GHEW EXW DOVR (YDQnV FRUUHFWLQJ RI DQ\ SRVVLEOH VH[XDO PLVFRQGXFW RQ WKH SDUW RI %HXODK %\ PDUU\LQJ +DUWZHOO %HXODK IXOILOOV KHU GHVWLQ\f§%HXODK LV DFWXDOO\ +HEUHZ IRU PDUULHG ZRPDQ $ -RQHV f 6KH DOVR VXVWDLQV WKH HFRQRP\ RI KHWHURVH[XDO GHVLUH GHVSLWH KHU IOLUWDWLRQV ZLWK RWKHU ZRPHQ %HXODKnV WUDQVJUHVVLYH VH[XDO GHVLUH LV VLJQDOOHG LQ KHU ILUVW PHHWLQJ ZLWK &ODUD 6DQGHUV ZKR OLNH %HXODK LV DQ RUSKDQ DQG GHSHQGHQW RQ WKH NLQGQHVV RI RWKHUV 0HHWLQJ LQ VFKRRO &ODUD OHDGV %HXODK WR KHU GHVN ZKLFK ZDV FRQVWUXFWHG IRU WZR SHUVRQV $V &ODUD WDNHV KROG RI %HXODKnV DUP 7KH WRXFK RI KHU ILQJHUV VHQW D WKULOO WKURXJK %HXODKnV IUDPH DQG VKH ORRNHG DW KHU YHU\ HDUQHVWO\ f /DWHU DIWHU %HXODK GHQRXQFHV +DUWZHOO IRU WU\LQJ WR UXOH KHU ZLWK D URG RI LURQ VKH VLWV ZLWK &ODUD DQG ILQLVKHV D GUDZLQJ RI D EHDVW WKDW VKH KDG GUHDPHG KDG WULHG WR VQDWFK DZD\ &ODUD :KHQ &ODUD DVNV KHU WR SXW WKDW SRUWUDLW DZD\ %HXODK FRPSOLHV EHJLQQLQJ WR ZRUN RQ DQ LPDJH RI 6DSSKR WKH /HVELDQ 0XVH $K &ODUD %HXODK FRQILGHV KRZ FRQQRLVVHXUV ZRXOG FDUS DW WKLV SRUWUDLW RI WKH n/HVELDQ 0XVHn 0\ JXDUGLDQ IRU RQH ZRXOG VQHHU VXSHUEO\ f %HXODK UHFRJQL]HV WKDW VRFLHW\ SDUWLFXODUO\ +DUWZHOO ZRXOG

PAGE 139

QRW DFFHSW KHU LQWHUHVW LQ D ILJXUH OLNH 6DSSKR ZKR FRQQRWHG QRW MXVW OHVELDQLVP EXW DOVR WKH VWUHQJWK DQG ZLOO RI LQGLYLGXDO ZRPHQ %HXODK FRUUHFWO\ OLQHV XS 6DSSKR DQG +DUWZHOO DV WKH FRPSHWLQJ JRGV IRU KHU VRXO /DWH LQ WKH QRYHO &ODUD 6DQGHUV LV DERXW WR PDUU\ DQG %HXODK UHFHLYHV DQ LQYLWDWLRQ WR WKH ZHGGLQJ +RZHYHU VKH GHFLGHV QRW WR DWWHQG FRXOG QRW OHDYH KRPH QRZ (XJHQHnV >KHU ORQJWLPH IULHQG IURP KHU RUSKDQDJH GD\V@ LOOQHVV KDG SUHYHQWHG P\ DFFRPSOLVKLQJ VRPH QHFHVVDU\ ZRUN DQG DV FRQVLJQ KLP WR RWKHU KDQGV WRGD\ PXVW PDNH DPHQGV IRU P\ ORQJ LQGROHQFH FDQQRW WKLQN RI JRLQJ f %HXODKnV UHIXVDO WR DWWHQG &ODUDnV ZHGGLQJ LV KHU ILQDO UHMHFWLRQ RI &ODUDnV FRQFHSWLRQ RI ZRPDQKRRG :RPDQ ZDV LQWHQGHG DV D SHW SODQW WR EH JXDUGHG DQG FKHULVKHG &ODUD FDQGLGO\ DVVHUWV LVRODWHG DQG XQFDUHG IRU VKH GURRSV ODQJXLVKHV DQG GLHV f &ODUD WKXV EHWUD\V WKH VLVWHUKRRG RI 6DSSKR E\ ORRNLQJ IRU D FDUHWDNHU %HXODK UHVSRQGV KDUVKO\ ,I \RX FRQFOXGHG WKDW \RX EHORQJ WR WKDW GHSHQGHQW IDPLO\ RI SODQWV SLW\ \RX VLQFHUHO\ DQG EHJ WKDW \RX ZLOO QRW SXW PH LQ DQ\ VXFK FDWHJRU\ f %\ UHIXVLQJ WR JR WR &ODUDnV ZHGGLQJ %HXODK UHVLVWV VHHLQJ &ODUDnV ILQDO GHJUDGDWLRQ KHU VXEPLVVLRQ WR WKH URG RI LURQ ,Q WKH PHDQWLPH %HXODK KDV VHW XS KRXVHNHHSLQJ ZLWK DQRWKHU ZRPDQ 0UV :LOOLDPV WKH UHWLUHG PLVWUHVV RI WKH RUSKDQDJH ZKHUH %HXODK KDG RQFH EHHQ D UHVLGHQW %HXODK DFWXDOO\ LQYLWHV KHUVHOI LQWR 0UV :LOOLDPVnV KRPH ZKHQ VKH OHDUQV RI KHU UHWLUHPHQW SODQV

PAGE 140

'R \RX LQWHQG WR OLYH DORQH"
PAGE 141

%HXODK FHUWDLQO\ GRHV QRW UHMHFW RXWULJKW WUDGLWLRQDO IHPDOH UROHVf§RUQDPHQWV RI WKH VRFLDO FLUFOH DQJHO JXDUGLDQV RI WKH VDFUHG KHDUWKVWRQH PLQLVWHULQJ VSLULWV $V (OL]DEHWK 0RVV QRWHV WKH LGHRORJ\ RI GRPHVWLF QRYHOLVWV SURYLGHG WKDW ZRPHQ FRXOG EH KHURLF LQ WKH GRPHVWLF VSKHUH )LUPO\ FRQYLQFHG OLNH WKH PDMRULW\ RI 9LFWRULDQ $PHULFDQV WKDW PHQ DQG ZRPHQ ZHUH IXQGDPHQWDOO\ ZLWK XQLTXH DELOLWLHV DQG REOLJDWLLRQV WKH VRXWKHUQ GRPHVWLF QRYHOLVWV VDZ QR FRQWUDGLFWLRQ LQ GHILQLQJ LQGHSHQGHQW KHURLQHV LQ GRPHVWLF WHUPV 0RVV f %HXODK GRHV QRW FRQILQH KHU LGHDO WR WKH SXUHO\ GRPHVWLF UHDOP 6KH DOVR SHUFHLYHV ZRPHQ WR KDYH D SODFH LQ D FRXQFLO RI VWDWHVPHQ DOEHLW LQ GLUH QHFHVVLW\ 1HYHUWKHOHVV %HXODKnV FRQFHSWLRQ RI DQ H[WHQGHG VSDFH IRU 6RXWKHUQ ZRPHQ FRQWUDVWV PDUNHGO\ ZLWK (GQD (DUOn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f

PAGE 142

,Q IDFW %HXODK ILQGV &ODUD 6DQGHUVnV DVVHUWLRQ WKDW ZRPHQ DUH OLNH SHW SODQWV ODXJKDEOH VR (GQDnV FRQWHQWLRQ WKDW PHQ VKRXOG QRW PDU WKH GLYLQH HFRQRP\ E\ JLYLQJ ZRPHQ SROLWLFDO IUHHGRP VHHPV DW OHDVW IURP %HXODKnV SHUVSHFWLYH HTXDOO\ ODXJKDEOH (GQD PDUNV WKH QREOH DQG WUXH ZRPHQ DV WKRVH ZKR UHMHFW DGGLWLRQDO IUHHGRPV DV WKUHDWHQLQJ DV VKH KHUVHOI GRHVf 2QFH DJDLQ %HXODK LV SHUPLWWHG PRUH ODWLWXGH LQ WHUPV RI UHWKLQNLQJ WKH WUDGLWLRQDO VSDFH RI ZRPHQ )RU (GQD *RG WKH 0DNHU SURYLGHV WKH RUJDQL]LQJ SULQFLSOH IRU QRW MXVW WHQGHU ZRPDQKRRG EXW DOVR IRU VRFLHW\ LQ JHQHUDO %HXODKnV LQYHVWLJDWLRQV LQWR PHWDSK\VLFDO WKRXJKW LQFOLQH KHU WRZDUG DWKHLVP DQ DWWLWXGH ZKLFK +DUWZHOO DQG KLV VXUURJDWHV ILJKW DJDLQVW 'HFODLPLQJ DJDLQVW %HXODKnV LQWHOOHFWXDO SULGH +DUWZHOO WHOOV KLV ZDUG LW ZLOO WDNH ORQJ \HDUV RI WULDO DQG VXIIHULQJ WR WDPH \RX f /DWHU DV %HXODK WULHV WR SURYH KHU PDWXULW\ +DUWZHOO DJDLQ ZDUQV KHU DJDLQVW D UHOLDQFH RQ LQWHOOHFW
PAGE 143

LQYRFDWLRQ ZLWK KLV ILQDO ZRUGV WR %HXODK RQ WKH VXEMHFW 9HU\ ZHOO PDUN PH WKRXJK \RXU LQWHOOHFWXDO SULGH ZLOO \HW ZUHFN \RXU KDSSLQHVV f *LYHQ KLV RZQ DWKHLVP +DUWZHOO LV KDUGO\ WU\LQJ WR EULQJ %HXODK EDFN WR &KULVWLDQLW\ +RZHYHU KH LV WU\LQJ WR UHYLYH KHU UHVSHFW IRU SDWULDUFKDO DXWKRULW\ SRVLWLQJ KLPVHOI DV WKH GHLW\ VKH QHHGV WR VXEPLW WR +DUWZHOOnV VXUURJDWHV OLNHZLVH DWWHPSW WR VKRZ %HXODK WKH HUURU RI KHU ZD\V 'U $VEXU\ IRU LQVWDQFH KROGV XS KLV ZLIH D *RGIHDULQJ &KULVWLDQ ZRPDQ DV D PRGHO WR WKZDUW PRGHUQ FRQFHSWLRQV RI ZRPDQKRRG :K\ IURP P\ ER\KRRG 6DWXUGD\ KDV EHHQ V\QRQ\PRXV ZLWK VFRXULQJ ZLQGRZZDVKLQJ SDVWU\EDNLQJ VWRFNLQJn GDUQLQJ DQG QXPHURXV RWKHU YHQHUDEOH FXVWRPV ZKLFK WKLV DJH LV UDSLGO\ GLVSHQVLQJ ZLWK 0\ ZLIH KDG D OLQJHULQJ UHYHUHQFH IRU WKH GXWLHV RI WKH GD\ DQG WULHG WR H[FXVH KHUVHOI EXW VXSSRVH WKRVH SUHWW\ ZD[ GROOV RI PLQH KDYH FRD[HG KHU LQWR UHFHLYLQJ DV WKH\ FDOO LW %HXODK P\ ZLIH LV DQ H[FHSWLRQ EXW WKH PDVV RI PDUULHG ZRPHQ QRZDGD\ LQVWHDG RI EHLQJ WKRURXJK KRXVHZLYHV DV QDWXUH LQWHQGHG WKH\ VKRXOGf DUH GHOLFDWH GRQRWKLQJ NQRZQRWKLQJ ILQH ODGLHV 7KH\ KDYH QR GXWLHV f :KDW ZRPHQ GR QRW NQRZ IRU 'U $VEXU\ LV WKHLU GXW\ WKHLU SODFH 0UV $VEXU\ WKH H[FHSWLRQ NQRZV ZKDW KHU 6DWXUGD\ GXW\ LV DQG LQ IDFW ZKDW KHU DSSURSULDWH VSKHUH LV GHVSLWH KDYLQJ EHHQ FRD[HG RXW RI LW E\ KHU GDXJKWHUV ZKRP 'U $VEXU\ WHOOLQJO\ UHIHUV WR DV WKRVH SUHWW\ ZD[ GROOV RI PLQHf 7KH PHVVDJH %HXODK UHFHLYHV IURP WKHVH TXDUWHUV LV FOHDUf§ LQWHOOHFWXDO SULGH DQ XQZLOOLQJQHVV WR VXEPLW WR GXW\ GLVUXSWV QRW RQO\ SDWULDUFKDO DXWKRULW\ EXW DOVR WKH VRFLHW\ FRQWLQJHQW RQ LW

PAGE 144

1RW VXUSULVLQJO\ DIWHU 0UV :LOOLDPVnV GHDWK %HXODK ZKR KDV P\VWHULRXVO\ DFFHSWHG *RG DJDLQ FRPHV WR WRZQ WR OLYH ZLWK WKH $VEXU\V 2QO\ D VKRUW ZKLOH ODWHU +DUWZHOO UHWXUQV IURP KLV H[LOH DQG FODLPV %HXODK D FODLP VKH WKLV WLPH VXEPLWV WR 9DULRXV UHDGHUV RI %HXODK KDYH EHHQ SHUSOH[HG E\ %HXODKnV VXGGHQ FRQYHUVLRQ EDFN WR IDLWK )RU LQVWDQFH SRHW +HQU\ 7LPURG LQ D OHWWHU WR (YDQVnV IULHQG 5DFKHO /\RQV UHPDUNHG %HXODKnV WUDQVLWLRQ IURP VFHSWLFLVP WR )DLWK LV OHIW DOPRVW XQDFFRXQWHG IRU +RZ PXFK VKRXOG OLNH WR KDYH P\ RZQ GRXEWV VHWWOHG LQ WKH VDPH VDWLVIDFWRU\ \HW PRVW LQH[SOLFDEOH PDQQHU TXRWHG LQ $ -RQHV f 5HVSRQGLQJ WR WKHVH FULWLFLVPV LQ D OHWWHU WR /\RQV GDWHG 2FWREHU (YDQV WULHG WR ILOO LQ WKH JDSV %HXODK FRQVWLWXWHG KHU 5HDVRQ WKH VROH FULWHULRQ RI WUXWK EXW IRXQG RQ DOO VLGHV LQVROYDEOH P\VWHULHVf§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f ,Q EDVLFDOO\ UHFDSLWXODWLQJ +DUWZHOOnV DUJXPHQW DJDLQVW LQWHOOHFWXDO SULGH (YDQV VKRZV ZKHUH KHU V\PSDWKLHV OD\ 2QO\ LQ UHFRJQL]LQJ WKH XOWLPDWH SXQLQHVV RI KHU RZQ LQWHOOHFW FDQ %HXODK DFFHSW KHU DSSURSULDWH SRVLWLRQ LQ 6RXWKHUQ OLIH

PAGE 145

7KH SDWULDUFKDO UHSRVLWLRQLQJ RI %HXODK LV FRPSOHWH ZKHQ +DUWZHOO UHWXUQV DQG GHPDQGV WKDW VKH GHFODUH KHU XOWLPDWH OR\DOW\ %HXODK %HQWRQ GR \RX EHORQJ WR WKH W\UDQW $PELWLRQ RU GR \RX EHORQJ WR WKDW W\UDQW *X\ +DUWZHOO" 4XLFN FKLOG GHFLGH KDYH GHFLGHG VDLG VKH +HU FKHHNV EXUQHG KHU ODVKHV GURRSHG :HOO :HOO LI DP WR KDYH D W\UDQW EHOLHYH SUHIHU WR EHORQJLQJ WR \RX" f %HXODK GRHV QRW VHHP WR TXHVWLRQ WKH ULJKWIXOQHVV RI KDYLQJ WR DFFHSW D W\UDQW WKRXJK WKH TXHVWLRQ PDUN FORVLQJ KHU ODVW VHQWHQFH DGGV VRPH PHDVXUH RI DPELJXLW\f 6KH VXEPLWV DQG DV 0 *RVKJDULDQ QRWHV +DUWZHOO IDU IURP FRPSURPLVLQJ DV 1LQD %D\P FODLPV KDV ZKDW KH KDV ZDQWHG DOO DORQJ )LUVW %HXODK PXVW VLJQLI\ WKDW VKH KDV WDNHQ WR KHDUW +DUWZHOOnV SUHVFLHQW ZDUQLQJ WR NHHS KHU KDQGV RII KLV JRGOHVV ERRNV ,Q HIIHFW VKH KDV WR DIILUP WKDW VKH DFFHSWV KHU DSSRLQWPHQW DV *RGnV DJHQW RI 025$/,7< DQG ZLOO QRZ WU\ WR FRQYHUW UDWKHU WKDQ HPXODWH WKH DYRZHG LQILGHO +DUWZHOO UHGX[ VWLOO LV 7KH RWKHU WKLQJ VKH PXVW GR LV VLW GRZQ ZKLFK LV ZKDW +DUWZHOO ZDQWHG KHU WR GR LQ WKH ILUVW SODFH *RVKJDULDQ f ,Q ERWK LQVWDQFHV %HXODK DFFHSWV D VXEVHUYLHQW SRVLWLRQLQJ 7KH ILQDO VFHQH LQ WKH QRYHO UHIOHFWV %HXODKnV VLWWLQJ GRZQ 6KH KDG ODLG KHU %LEOH RQ KLV NQHH KHU IROGHG KDQGV UHVWHG XSRQ LW DQG KHU JUD\ H\HV FOHDU DQG HDUQHVW ORRNHG XS UHYHUHQWO\ LQWR KHU KXVEDQGnV QREOH IDFH f %HXODKnV ORRNLQJ XS ZLWK UHYHUHQFH DW +DUWZHOO DW WKH HQG RI WKH QRYHO RQO\ UHSOLFDWHV KHU UHODWLRQVKLS WR KHU JXDUGLDQnV SRUWUDLW 5HFHLYLQJ WKH SRUWUDLW IURP WKH $VEXU\V

PAGE 146

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f ,Q SRVLWLRQLQJ WKLV SRUWUDLW %HXODK UHDOO\ SRVLWLRQV KHUVHOI DV ZHOO 6KH SXWV KHUVHOI XQGHU WKH FRQVWDQW JD]H RI KHU JXDUGLDQ 6KH LQ IDFW HQVKULQHV +DUWZHOO DV KHU *RG MXVW DV WKH DUWLVW ZLWK KLV UD\ RI VXQVKLQH KDG SRVLWLRQHG +DUWZHOO DV *RGOLNH 7KXV ZKHQ WKH UHDO +DUWZHOO UHWXUQV %HXODK FDQ PRUH HDVLO\ DVVXPH KHU SUDFWLFHG SRVLWLRQ
PAGE 147

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f§ORQJ DV P\ H[LOH 6ZHHW DV P\ UHYHQJH +H SXW KLV KDQG XQGHU KHU FKLQ GUHZ WKH OLSV WR KLV DQG NLVVHG WKHP UHSHDWHGO\ f 7KRXJK 6W (OPRnV UHYHQJH LV FOHDUO\ FRPLFDO WKLV GLFWLRQ UHYHDOV (GQDnV UROH DW WKH HQG RI WKH QRYHO 6KH PXVW HPERG\ WRWDO VXEPLVVLRQ 8QOLNH %HXODK (GQD KDV EHHQ SK\VLFDOO\ GHFLPDWHG E\ KHU LQWHOOHFWXDO H[HUWLRQV :LWK 6W (OPR IXOO\ UHGHHPLQJ KLPVHOI DQG UHWXUQLQJ WR /H %RFDJH OLWHUDOO\ D QHZ PDQ (GQD FDQ VHUYH QR RWKHU SXUSRVH WKDQ IXUWKHU EROVWHULQJ 6W (OPRnV PDQKRRG 8OWLPDWHO\ WKH GLVWLQFWLRQ EHWZHHQ WKH UHVSHFWLYH IDWHV RI %HXODK %HQWRQ DQG (GQD (DUO PLJKW VHHP VLPSO\ D PDWWHU RI VHPDQWLFV &OHDUO\ (YDQV QHLWKHU EHIRUH WKH ZDU QRU FHUWDLQO\ DIWHU LW FRXOG VXVWDLQ D IHPDO FKDUDFWHU RXWVLGH WKH FRQWURO RI WKH SDWULDUFK\ IRU ORQJ %XW WKH GHYDVWDWLRQ RI WKH &LYLO :DU DQG (YDQVnV FRQWLQXHG FRPPLWPHQW WR 6RXWKHUQ

PAGE 148

QDWLRQDOLVP FHPHQWHG DQG LQ IDFW KHLJKWHQHG (YDQVn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f§5XVVLDQV 3ROHV -HZV" $UH WKH\ KXPDQ EHLQJV LI WKH\ DUH QRW FLWL]HQV" f 7KH VDPH NLQG RI TXHVWLRQ FRXOG EH SRVHG UHJDUGLQJ WKH 8QLWHG 6WDWHVnV LPPLJUDWLRQ SROLF\ IRU +DLWLDQV DQG &XEDQV :KHUHDV .ULVWHYD ZDQWV WR EUHDN GRZQ QDWLRQDO EDUULHUV DQG UHFRJQL]H RXUVHOYHV DV VWUDQJH LQ RUGHU EHWWHU WR DSSUHFLDWH WKH IRUHLJQHUV RXWVLGH XV LQVWHDG RI VWULYLQJ WR EHQG WKHP WR WKH QRUPV RI RXU RZQ UHSUHVVLRQf (YDQV YHU\ PXFK ZDQWV WR PDLQWDLQ WKH LGHD RI WKH &RQIHGHUDWH QDWLRQ LQ RUGHU WR HQIRUFH WKH GLIIHUHQFH EHWZHHQ 1RUWK DQG 6RXWK WKDW VKH IHHOV VR VWURQJO\ 6HH .ULVWHYD 1DWLRQV :LWKRXW 1DWLRQDOLVP WUDQV /HRQ 6 5RXGLH] 1HZ 7KH QDWLRQ@ LV LPDJLQHG EHFDXVH WKH PHPEHUV RI HYHQ WKH VPDOOHVW QDWLRQ ZLOO QHYHU NQRZ PRVW RI WKHLU IHOORZPHPEHUV PHHW WKHP RU HYHQ KHDU RI WKHP \HW LQ WKH PLQGV RI HDFK OLYHV WKH LPDJH RI WKHLU FRPPXQLRQ f %HFDXVH SURFHHG RQ WKH LGHD WKDW D QDWLRQ LV D FRQVWUXFW DQG WKDW WKH LGHD RI QDWLRQ FDQ EH KDUERUHG HYHQ ZKHQ LW KDV QR VRYHUHLJQ EDVLV QR FHQWUDOL]HG JRYHUQPHQW IRU H[DPSOH FKXUQLQJ RXW ODZV EXUHDXFUDWLF SDSHUZRUN DQG RWKHU WH[WV FRQILUPLQJ WKH QDWLRQnV OLIHf XVH D WHUP OLNH SRVW&LYLO :DU &RQIHGHUDF\ ZKLFK PD\ VHHP LOORJLFDO DQGRU XQVXVWDLQDEOH (YDQVnV OLVW RI 1RUWKHUQ IDXOWV LV GHVLJQHG WR XQGHUVFRUH WKH QHHG IRU D 6RXWKHUQ QDWLRQ DV VKH FDQ LPDJLQH QR FRPPXQLRQ ZLWK WKH SHRSOH RI WKH 1RUWK 6HH $QGHUVRQ ,PDJLQHG &RPPXQLWLHV /RQGRQ 9HUVR f SS (OL]DEHWK 0RVV GHWDLOV (YDQVnV YDULRXV WULSV WR WKH ZDUIURQW VRPH RI ZKLFK ZHUH XQDXWKRUL]HGf LQ 'RPHVWLF

PAGE 149

1RYHOLVWV LQ WKH 2OG 6RXWK ,Q ODWH -XQH IRU H[DPSOH (YDQV ZDV SUHVHQW DW 1RUIRON 9LUJLQLD ZKHQ 8QLRQ WURRSV ILUHG RQ )RUWUHVV 0RQURH 0HVPHUL]HG (YDQV VWRRG KHU JURXQG XQWLO WKH RIILFHUV DOPRVW IRUFLEO\ UHPRYHG KHU IURP WKH OLQH RI ILUH HYHQ VR VKH FRQWLQXHG WR H[XOW LQ KHU QHDU EUXVK ZLWK GHDWK ORQJHG IRU D VHFHVVLRQ IODJ WR VKDNH GHILDQWO\ LQ WKHLU WHHWK DW HYHU\ ILUH DQG P\ ILQJHUV IDLUO\ LWFKHG WR WRXFK RII D UHG KRW EDOO LQ DQVZHU WR WKHLU FKLYDOULF FLYLOLWLHV WKH VHOIVW\OHG SDUDJRQ RI VRXWKHUQ IHPLQLQLW\ ERDVWHG WR >IULHQG 5DFKHO@ /\RQV f (YDQV FOHDUO\ H[XOWHG LQ FRPEDWf§SHUKDSV DV 0RVV KLQWV HYHQ JRW DQ HURWLF WKULOO IURP LW 6HH 0RVV SS IRU D PRUH FRPSUHKHQVLYH RYHUYLHZ RI (YDQVnV WUDYHOV DQG REVHUYDWLRQV GXULQJ WKH ZDU $QQH )LURU 6FRWW FRQWHQGV WKDW 'HIHDW DQG SRVWZDU FRQGLWLRQV LQ WKH 6RXWK XQGHUPLQHG WKH SDWULDUFK\ 6ODYHU\ ZKLFK KDG SURYLGHG WKH RULJLQDO QHHG IRU WKH LGHD ZDV JRQH DQG PDQ\ PHQ FDPH KRPH WR IDFH FRQGLWLRQV ZKLFK SURYHG XQPDQDJHDEOH f 9DULRXV KLVWRULDQV SURPLQHQW DPRQJ WKHP 6X]DQQH /HEVRFN *HRUJH 5DELH DQG *DLQHV )RVWHU GLVSXWH WKH LGHD WKDW WKH ZDU GLVUXSWHG SDWULDUFKDO SUDFWLFHV WKDW PXFK )RVWHU VXPPDUL]HV KLV FRQWHQWLRQV DQG WKRVH RI RWKHU KLVWRULDQVf QHDWO\ LQ WKH IROORZLQJ SDVVDJH :RPHQ IHOW FRQFHUQ DQG FRPSDVVLRQ IRU WKHLU ORYHG RQHV DQG ZDQWHG WR FRPIRUW QRW FRQIURQW WKHP LQ WKHLU DQJXLVK $ GHHS IHDU RI WKH IUHH EODFN PDOH HQFRXUDJHG ZKLWH IHPDOHV WR WXUQ WR WKHLU PHQ IRU SURWHFWLRQ DQG WKHUHE\ KLQGHUHG DQ\ IHPLQLQH UHYROW 7KH GHVWUXFWLRQ DQG GHVSDLU RI GHIHDW DOVR GLVFRXUDJHG WKH GHYHORSPHQW RI D ZRPHQnV PRYHPHQW IRU IHPDOHV KDG WR MRLQ ZLWK PDWHV WR VROYH PRUH EDVLF SUREOHPV RI VXUYLYDO f 0\ RZQ YLHZ WHQGV WR EH PRUH LQ OLQH ZLWK )RVWHUnV WKRXJK KH ULJKWIXOO\ DGPLWV WKDW WKH ZDU GLG PDNH PDQ\ ZRPHQ DZDUH RI WKH VRFLDO OLPLWDWLRQV RI WKHLU ZRUOG $IWHU WKH ZDU VRPH ZHUH QRW FRQWHQW WR UHWXUQ WR DQWHEHOOXP VWDQGDUGV FRQWHQG WKDW ZRPHQ ZHUH PDGH WR EHOLHYH WKHLU SDWULRWLF GXW\ ZDV WR VXEPLW LQ RUGHU WR NHHS WKH LGHD RI WKH &RQIHGHUDWH QDWLRQ DOLYH $XJXVWD -DQH (YDQV ZDV LQVWUXPHQWDO LQ FUHDWLQJ VXFK D EHOLHI 6HH 6FRWW 7KH 6RXWKHUQ /DG\ )URP 3HGHVWDO WJ 3ROLWLFV &KLFDJR 8QLYHUVLW\ RI &KLFDJR 3UHVV f SS 6HH DOVR 6X]DQQH /HEVRFN 5DGLFDO 5HFRQVWUXFWLRQ DQG WKH 3URSHUW\ 5LJKWV RI 6RXWKHUQ :RPHQ -RXUQDO RI 6RXWKHUQ +LVWRU\ 0D\ f 5DELH &LYLO :DUV :RPHQ DQG WKH &ULVLV RI 6RXWKHUQ 1DWLRQDOLVP 8UEDQD 8QLYHUVLW\ RI ,OOLQRLV 3UHVV f SS )RVWHU *KRVWV RI WKH &RQIHGHUDF\ SS

PAGE 150

,W LV KDUG WR VD\ KRZ PDQ\ PHQ VXIIHUHG IURP SV\FKRORJLFDO GLVRUGHUV FDXVHG E\ WKH ZDU ,W LV VDIH WR DVVXPH WKDW D JRRG QXPEHU RI PHQ RQ ERWK VLGHV VXIIHUHG IURP VRPH IRUP RI VKHOO VKRFN DQG LQWHUHVWLQJ LQ WKLV FRQWH[W LV WKH ZRUN RI VHYHUDO VFKRODUV RQ WKH HIIHFWV RI :RUOG :DU RQ WKH VROGLHUV ZKR IRXJKW LQ LW (ODLQH 6KRZDOWHU SRLQWV RXW WKDW VKHOO VKRFN WRRN GLIIHUHQW IRUPV GHSHQGLQJ RQ WKH FODVV DQG UDQN RI WKH PDQ EXW VKH GRHV QRWH WKDW 6H[XDO LPSRWHQFH ZDV ZLGHVSUHDG LQ DOO UDQNV f 6KH FRQFXUV ZLWK 6DQGUD *LOEHUWnV REVHUYDWLRQV DERXW KRZ PDOH SURWDJRQLVWV LQ PRGHUQLVW OLWHUDWXUH DOO VHHP XQPDQQHG )URP /DZUHQFHnV SDUDO\]HG &OLIIRUG &KDWWHUOH\ WR +HPLQJZD\nV VDGO\ HPDVFXODWHG -DNH %DUQHV WR (OLRWnV P\VWHULRXVO\ VWHULOH )LVKHU .LQJ WKH JORRPLO\ EUXLVHG PRGHUQLVW DQWLKHURHV FKXUQHG RXW E\ WKH ZDU VXIIHU VSHFLILFDOO\ IURP VH[XDO ZRXQGV DV LI KDYLQJ WUDYHOHG OLWHUDOO\ RU ILJXUDWLYHO\ WKURXJK 1R 0DQnV /DQG DOO KDYH EHFRPH QRW MXVW 1R 0HQ QRERGLHV EXW QRW PHQ XQPHQ 7KH WZHQWLHWK FHQWXU\ (YHU\PDQ WKH IDFHOHVV FLSKHU WKHLU DXWKRUV VHHP WR VXJJHVW LV QRW MXVW SXEOLFO\ SRZHUOHVV KH LV SULYDWHO\ LPSRWHQW *LOEHUW f 7KRXJK QRW DV WHFKQRORJLFDOO\ VRSKLVWLFDWHG WKH &LYLO :DU SURYHG WR EH D 1R 0DQnV /DQG IRU PDQ\ WKH XOWLPDWH UHVXOW IRU &RQIHGHUDWH PHQ EHLQJ D WUXH 1R 0DQn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nV +HDUW /LWHUDU\ 0HQ /LWHUDU\ :RPHQ DQG WKH *UHDW :DU ERWK LQ %HKLQG WKH /LQHV *HQGHU DQG WKH 7ZR :RUOG :DUV HGV 0DUJDUHW 5DQGROSK +LJRQQHW -DQH -HQVRQ 6RQ\D 0LFKHO DQG 0DUJDUHW &ROOLQV :HLW] 1HZ +DYHQ
PAGE 151

WKH 6RXWK KDYH RIWHQ KHDUG WKHP WDONLQJ DQG ODXJKLQJ DERXW WKH QXPHURXV FDVHV WKDW KDYH RFFXUUHG LQ ZKLFK ZKLWH ZRPHQ KDYH KDG FRORUHG FKLOGUHQ f 0DMRU *HRUJH 6WHDUQHV WHVWLILHG WR D VLPLODU VHW RI REVHUYDWLRQV KDYH RIWHQ EHHQ DPXVHG WKDW WKH SODQWHUV KHUH LQ 7HQQHVVHH KDYH VRPHWLPHV WR ZDWFK WKHLU GDXJKWHUV WR NHHS WKHP IURP LQWHUFRXUVH ZLWK WKH QHJURHV 7KLV WKRXJK RI FRXUVH H[FHSWLRQDO LV \HW FRPPRQ HQRXJK WR EH D VRXUFH RI XQHDVLQHVV WR SDUHQWV f +RGHV SRLQWV RXW WKDW WKHVH SRUWLRQV RI WKH WHVWLPRQ\ ZHUH H[FLVHG ZKHQ WKH ILQDO UHSRUW ZDV GHOLYHUHG WR WKH :DU 'HSDUWPHQW 8OWLPDWHO\ LW ZDV WKH FRQIODWLRQ RI SROLWLFV DQG VH[ LQ WKH PLQGV RI ZKLWH VRXWKHUQHUV WKDW ZRXOG JHQHUDWH VR PXFK RI WKH 5HFRQVWUXFWLRQHUD YLROHQFH LQ WKH 6RXWK +RGHV DVVHUWV f DQG WKLV FRQIODWLRQ JHWV GHPRQVWUDWHG LQ WKH 6RXWK &DUROLQD PLQLVWHUnV IHDU RI PLVFHJHQDWLRQ UHVXOWLQJ IURP HPDQFLSDWLRQ 6HH +RGHV :DUWLPH 'LDORJXHV RQ ,OOLFLW 6H[ :KLWH :RPHQ DQG %ODFN 0HQ LQ 'LYLGHG +RXVHV *HQGHU DQG WKH FLYLO :DU HGV &DWKHULQH &OLQWRQ DQG 1LQD 6LOEHU 1HZ
PAGE 152

TXDOLW\ RI GLVHPERGLPHQW 6HH 6LOYHUPDQ 7KH $FRXVWLF 0LUURU %ORRPLQJWRQ ,QGLDQD 8QLYHUVLW\ 3UHVV V*HUGD /HUQHU XQGHUVFRUHV WKH ZD\ LQ ZKLFK WKH FRQFHSWV RI KRQRU DQG DXWRQRP\ JR KDQGLQKDQG LQ SDWULDUFKDO VRFLHW\ 7KH YHU\ FRQFHSW RI KRQRU IRU PHQ HPERGLHV DXWRQRP\ WKH SRZHU WR GLVSRVH RI RQHVHOI DQG GHFLGH IRU RQHVHOI DQG WKH ULJKW WR KDYH WKDW DXWRQRP\ UHFRJQL]HG E\ RWKHUV %XW ZRPHQ XQGHU SDWULDUFKDO UXOH GR QRW GLVSRVH RI WKHPVHOYHV DQG GHFLGH IRU WKHPVHOYHV 7KHLU ERGLHV DQG WKHLU VH[XDO VHUYLFHV DUH DW WKH GLVSRVDO RI WKHLU NLQ JURXS WKHLU KXVEDQGV WKHLU IDWKHUV f ,Q FHGLQJ SULRULW\ IRU ZULWLQJ KLVWRU\ WR D PDQ (YDQV DIILUPV /HUQHUnV EDVLF FRQWHQWLRQ (YDQV KDV QR DXWRQRP\ DV D ZULWHU VKH RSHUDWHV XQGHU WKH DXWKRULW\ RI WKH VWDWH DQG PHQ OLNH 6WHSKHQVf ZKR HPERG\ WKDW VWDWH 6HH /HUQHU 7KH &UHDWLRQ RI 3DWULDUFK\ 1HZ
PAGE 153

UHJXODWH WKH DSSHDUDQFH DQG GLVDSSHDUDQFH RI WKH KXPDQ ERG\ L[f 7KLV FDSDFLW\ RI ZULWLQJ LV RQH WKDW (YDQV FRQVLVWHQWO\ H[SORLWV DQG LQ PDNLQJ (GQDnV ERG\ DSSHDU RQO\ WR YLFWLPL]H LW (YDQV VDGLVWLFDOO\ HQDFWV WKH SDWULDUFKDO LPSHUDWLYH RI FUHDWLQJ D QRQWKUHDWHQLQJ IHPDOH SUHVHQFH 6HH /LWHUDWXUH DQG WKH %RG\ HG (ODLQH 6FDUU\ %DOWLPRUH -RKQV +RSNLQV 8QLYHUVLW\ 3UHVV f SS YLL[[YLL X6HH 0RQWURVH 0RVHV 7KH /LWHUDWXUH RI WKH 6RXWK 1HZ
PAGE 154

$W WKH RWKHU HQG RI WKH FULWLFDO VSHFWUXP 0 *RVKJDULDQ VHHV %D\PnV UHDGLQJ DV ZLVKIXO WKLQNLQJ %D\P IRUFHV %HXODK WR EH OLPLWEUHDNLQJ (YDQV QR OHVV IRUFHV LW WR EH OLPLW HQIRUFLQJ f $QQH *RRGZ\Q -RQHV DJUHHV ZLWK *RVKJDULDQnV REVHUYDWLRQV DUJXLQJ WKDW (YDQVnV FRQFOXVLRQ LV EHIXGGOLQJ XQOHVV LW LV VHHQ DV DQ HIIRUW WR ILW %HXODK LQWR DQ DSSURYHG VWDQGDUG RI WKH 6RXWKHUQ FRPPXQLW\ 7KH HQG GRHV QRW MXVW WXUQ WKH WDEOHV LW WXUQV EDFN WKH IRUZDUG PRWLRQ RI WKH QRYHO GHQ\LQJ WKH LPSOLFDWLRQV RI WKH SUHYLRXV SDJHV UDWKHU WKDQ IXOILOOLQJ WKHP )RU LQ %HXODK (YDQV KDG DUWLFXODWHG DQ HDUO\ YHUVLRQ RI WKH VRXWKHUQ ZRPDQnV YLVLRQ RI WKH VHOI DQG WKH ZRUOG 7KH IRUFH RI QDUUDWLYH LV FHQWULIXJDO ,W SUHVHQWV SRODU RSSRVLWHV WKHQ GUDZV LQ FHQWHUV XQLILHV f 0\ RZQ YLHZ RI WKH FRQFOXVLRQ RI %HXODK LV PRUH LQ OLQH ZLWK *RVKJDULDQnV DQG -RQHVnV \HW DJDLQ %HXODKnV ILQDO SRVLWLRQLQJ VHHPV UHODWLYHO\ PLOG GHVSLWH LWV GUDPDWLF GHQLDO RI KHU DXWRQRPRXV VHOIf ZKHQ FRPSDUHG WR WKDW RI (GQD (DUO 6HH %D\P SS 0 *RVKJDULDQ 7R .LVV WKH FKDVWHQLQJ 5RG ,WKDFD &RUQHOO 8QLYHUVLW\ 3UHVV f SS DQG -RQHV SS 7KH LQFHVWXRXV RYHUWRQHV RI WKH %HXODK+DUWZHOO UHODWLRQVKLS KDYH QRW JRQH XQQRWLFHG E\ FULWLFV ,Q DQ H[WHQGHG GLVFXVVLRQ RI WKLV DVSHFW RI WKH QRYHO 0 *RVKJDULDQ VXJJHVWV WKDW WKLV WKHPH RI LQFHVW PXVW EH SUHVHQW WR JLYH %HXODK LWV HQHUJ\ DQG DW WKH VDPH WLPH WKDW WKHPH PXVW EH FRQWDLQHG LQ RUGHU WR UHWDLQ WKH QRYHOnV UHVSHFWDELOLW\ %HXODK FDQQRW H[FOXGH LWV PLGGOH ZKHUH LQFHVW PDQLIHVWV LWVHOI DV D SRVVLELOLW\f EHFDXVH LW FDQQRW H[FOXGH %HXODKnV WKH SXOVDWLRQ WKDW FRQWDPLQDWHV ZRPDQnVf§DQG ZRPDQnV ILFWLRQnVf§SXULW\ LV DOVR WKH WH[WXDO HQHUJ\ GULYLQJ ILFWLRQ WRZDUG WUXWK 7KDW LV ZK\ WKH QRYHO PXVW FRQWDLQ WKH ZRPDQO\ GHVLUH WKDW PRWLYDWHV LWV LQFHVWXRXV GHIHUHQFH WR WKH :RUG EXW WKDW LV DOVR ZK\ LW PXVW FRQWDLQ LW %HXODK QHHGV DOO RI %HXODK WR HQWLFH %HXODK EDFNf WR %HXODK f *RVKJDULDQ DUJXHV WKDW (YDQV FUHDWHV D QDUUDWLYH WKDW VHHNV WR LQGXOJH LQ WKH SUXULHQW LQ RUGHU WR SRLQW WR WKH IDOVLW\ RI WKDW QDUUDWLYH DQG WKH DSSURSULDWHQHVV RI WKH WUXH :RUGf§ 6FULSWXUH 'LVDYRZLQJ WKLV ZRUN >RI ZULWLQJ@ %HXODK DGYHUWLVHV %HXODKnV DVSLUDWLRQ WR UHSODFH WKH ILFWLWLRXV ZLWK WKH WUXH WR UHGXFH RULJLQDO DQG WKHUHIRUH HUUDQW VFULEEOLQJ WR 6FULSWXUH f ,Q RWKHU ZRUGV %HXODK PXVW JLYH XS KHU ZULWLQJ FDUHHU DQG FRPPLW KHUVHOI WR *RG+DUWZHOO VR WKDW WKH ILFWLWLRXV LQ WKLV FDVH WKH LQFHVWXDOf FDQ EH FOHDQVHG DQG UHSODFHG E\ WKH WUXWK *RVKJDULDQ WKXV UHDGV (YDQVnV

PAGE 155

FRQFOXVLRQ DV D ORJLFDO GLVDYRZDO RI WKH ILFWLRQVf WKDW PLJKW GLVUXSW DQG RYHUWXUQ WUXWKf§ZKHWKHU WKDW WUXWK JHWV UHJLVWHUHG DV 6FULSWXUH RU DV WKDW VHW RI FRQVWUXFWV HQGRUVHG E\ DQG UHTXLUHG IRU 6RXWKHUQ FRPPXQLW\ Q WKLV SRLQW GLIIHU VRPHZKDW ZLWK $QQH *RRGZ\Q -RQHV 6KH DVVHUWV 1R ORQJHU ZLOO %HXODK WHDFK RU ZULWH LQVWHDG VKH ZLOO GR nKRO\n ZRUN IXOILOOLQJ D UHVSRQVLELOLW\ WR RWKHUV WKDW FDPH ZLWK VXEPLVVLRQ WKH VXEPLVVLRQ WR &KULVW )LQDOO\ QR ORQJHU LV KHU ZRUN RI WKH LQWHOOHFW ,W LV D ZRUN RI ORYH RI WKH KHDUWf§RI LQ IDFW WKH nZRPDQnV KHDUWn f :KLOH DJUHH WKDW %HXODK LV GRLQJ WKH ZRUN RI WKH SDWULDUFK\ WR FKDUDFWHUL]H WKDW ZRUN DV QRW RI WKH LQWHOOHFW VHHPV VRPHZKDW KDUVK +DUWZHOO LQ IDFW ILQGV %HXODKnV GLVFXVVLRQ RI UHOLJLRQ LQWHUHVWLQJ DQG SHUKDSV FUHGLEOHf EHFDXVH RI KHU LQWHOOHFWXDO ULJRU 7KXV ZKLOH %HXODK PLJKW EH XVLQJ KHU LQWHOOHFW IRU D FDXVH WKDW XOWLPDWHO\ XQGHUFXWV WKH YDOXH RI WKDW LQWHOOHFW VKH LV XVLQJ LW QRQHWKHOHVV

PAGE 156

&+$37(5 7+( *(2*5$3+< 2) 6287+(51 1$7,21$/,60 7KH 6XSUHPH &RXUWnV UHMHFWLRQ RI WKH &LYLO 5LJKWV $FW RI DV XQFRQVWLWXWLRQDO RQ 2FWREHU UHPRYHG WKH ILQDO SRVWZDU IHGHUDO LQWUXVLRQ LQWR WKH 6RXWK :KLOH 1RUWKHUQ QHZVSDSHUV DQG SHULRGLFDOV JUHHWHG WKH GHFLVLRQ ZLWK UHODWLYH VLOHQFH WKH 6RXWKHUQ SUHVV UHDFWHG IDYRUDEO\ 3DUW RI WKH $WODQWD &RQVWLWXWLRQnV KHDGOLQH LQ LWV 2FWREHU FRYHUDJH RI WKH VWRU\ SURFODLPHG $ 5DGLFDO 5HOLF 5XEEHG 2XW 7KH 1HZ 2UOHDQV 3LFD\XQH FRPPHQWHG WKDW 7KH RSLQLRQ LV PDUNHG E\ D MXVW UHVSHFW IRU 6WDWH DQG LQGLYLGXDO ULJKWV DQG EHWZHHQ WKH OLQHV RQH PD\ UHDG D FRQYLFWLRQ WKDW WKH IROO\ RI SDUW\ ]HDORWV FDQQRW VHW DVLGH WKH LPPXWDEOH ODZV RI QDWXUH DQG HQWLUHO\ DEROLVK WKH GLVWLQFWLRQV RI UDFH 7KH ORJLF RI WKH &RXUWnV GHFLVLRQ GLG LQGHHG UHYROYH DURXQG WKH TXHVWLRQ RI VWDWHVn ULJKWV )RU WKH PDMRULW\ RQO\ -RKQ +DUODQ D IRUPHU VODYH RZQHU GLVVHQWHGf WKH OLPLWLQJ SRZHUV RI WKH 7HQWK $PHQGPHQW PDGH WKH LVVXH RI FLYLO ULJKWV D ORFDO PDWWHU 7KLV SUHIHUHQFH IRU WKH ORFDO DOVR PDQLIHVWHG LWVHOI LQ WKH SURGXFWLRQ RI OLWHUDWXUH 7R EH VXUH ORFDO FRORU ZULWLQJ GLG QRW JHW LQYHQWHG EHFDXVH RI WKH &LYLO 5LJKWV GHFLVLRQ QRU ZDV DOO ORFDO FRORU ZULWLQJ 6RXWKHUQ %XW WKH DPRXQW RI SRVWFLYLO :DU 6RXWKHUQ ORFDO FRORU ZULWLQJ

PAGE 157

DFFHOHUDWHG DIWHU WKH &LYLO 5LJKWV GHFLVLRQ DV WKH PRVW SURPLQHQW SUDFWLWLRQHUV RI WKH JHQUH KDG WKHLU PRVW SURGXFWLYH \HDUV GXULQJ WKH ODVW GHFDGH DQG D KDOI RI WKH WK FHQWXU\ & 9DQQ :RRGZDUG VHHV WKLV ERRP DV UHVXOWLQJ IURP WKH SURVSHFWLQJ RI 1RUWKHUQ PDJD]LQH HGLWRUV :LWK D ]HDO DSSURDFKLQJ WKDW RI WKH VSHFXODWRUV ZKR ZHUH FRPELQJ WKH 3LHGPRQW IRU PLQLQJ VWDNHV WKH OLWHUDU\ SURVSHFWRUV EHJDQ D YHULWDEOH JROG UXVK WR WKH XQH[SHFWHG FRUQHUV RI WKDW UHJLRQf§DQG PXFK WKH\ XQHDUWKHG WKDW JOLWWHUHG 6FUDWFK WKH VXUIDFH WKH\ EHOLHYHG DQG RQH ZRXOG ILQG ORFDO FRORU SLFWXUHVTXHQHVV TXDLQWQHVV 3URYLGHG ZLWK WKH GLYLQLQJ URG RI FXUUHQW OLWHUDU\ IDVKLRQ WKH\ FRXOG QRW KDYH ZLVKHG IRU ULFKHU GHSRVLWV RI WKH PDWHULDO WKH\ VRXJKW :RRGZDUG f :RRGZDUGnV H[WHQGHG PHWDSKRU FRQIODWLQJ ORFDO FRORU ZULWLQJ DQG UHVRXUFHV FXOOHG IURP WKH ODQG HPSKDVL]HV KLV VHQVH RI D FXOWXUDO H[SORLWDWLRQ RI WKH 6RXWK FRPPHQVXUDWH ZLWK WKH HFRQRPLF DQG SROLWLFDO H[SORLWDWLRQ RI WKH 5HFRQVWUXFWLRQ SHULRG 8QTXHVWLRQDEO\ VRPH ORFDO FRORU ZULWHUV ORRNHG WR FDVK LQ RQ 6RXWKHUQQHVV DV D UHVRXUFH WKDW KDG VHHPLQJO\ EHHQ GHYDOXHG E\ WKH UHVXOW RI WKH ZDU
PAGE 158

ERUURZ $ULVWRWOHnV WHUPLQRORJ\f OLNH ODQJXDJH RU SDLQW HPEHGGHG LQ D WUDGLWLRQ RI FXOWXUDO VLJQLILFDWLRQ DQG FRPPXQLFDWLRQ D ERG\ RI V\PEROLF IRUPV FDSDEOH RI EHLQJ LQYRNHG DQG UHVKDSHG WR H[SUHVV PHDQLQJV DQG YDOXHV 0LWFKHOO f 6LPSO\ SXW ODQGVFDSHV RIIHU D V\VWHP RI VLJQLILFDWLRQ WKDW FDQ EH SXW WR XVH E\ DQ DUWLVW WR H[SUHVV PHDQLQJV DQG YDOXHV 7KUHH ORFDO FRORULVWV RI QRWHf§.DWH &KRSLQ 7KRPDV 1HOVRQ 3DJH DQG *HRUJH :DVKLQJWRQ &DEOHf§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f ORFDO FRORU ZULWLQJ DV SUDFWLFHG E\ &KRSLQ 3DJH DQG &DEOH ZRUNHG WR VXEGXH DQG SROLWLFDOO\ GLVDUP SHRSOH RI FRORU ,Q WKH WHUPLQRORJ\ RI 5D\PRQG :LOOLDPV WKHVH ZULWHUV PDNH EODFNV D ODQGVFDSH GHQ\LQJ WKHP VSHFLILF LQGLYLGXDOL]HG FRQVFLRXVQHVV :LOOLDPV WDNHV WKH

PAGE 159

FRXQWU\ SHRSOH RI *HRUJH (OLRWnV PDMRU QRYHOV DV D VLQJXODU H[DPSOH RI VXFK D ODQGVFDSH QRWLQJ WKDW VXFK FKDUDFWHUV EHFRPH PHUH FRQFHSWV QRW LQGLYLGXDOL]HG FKDUDFWHUV :KHQ $GDP DQG 'LQDK DQG +HWW\ WDON LQ ZKDW LV VXSSRVHG WR EH SHUVRQDO FULVLVf§RU ODWHU LQ D PRUH JODULQJ FDVH ZKHQ )HOL[ +ROW WDONVf§ZH DUH VKLIWHG WR WKH OHYHO RI JHQHUDOLVHG DWWLWXGHV RU RI GHFODPDWLRQ $QRWKHU ZD\ RI SXWWLQJ WKLV ZRXOG EH WR VD\ WKDW WKRXJK *HRUJH (OLRW UHVWRUHV WKH UHDO LQKDELWDQWV RI UXUDO (QJODQG WR WKHLU SODFHV LQ ZKDW KDG EHHQ D VRFLDOO\ VHOHFWLYH ODQGVFDSH VKH GRHV QRW JHW PXFK IXUWKHU WKDQ UHVWRULQJ WKHP DV D DQGVFDSH :LOOLDPV DXWKRUnV HPSKDVLVf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f 7KH NQRZDEOH FRPPXQLW\ UHSUHVHQWV ZKDW SHRSOH ZLVK WR NQRZ DV RSSRVHG WR ZKDW FRXOG EH RU LV NQRZQ ,W UHOLHV RQ D ODQGVFDSH SHRSOHG ZLWK LQGHHG FRQVWUXFWHG ZLWK WKH ERGLHV RI FLSKHUVf§D ODQGVFDSH WKDW WKRVH ZKR ZLVK WR FHOHEUDWH WKH SDVW DQG LQVWDOO LW DV QRUPDWLYH RI QDWLRQDO OLIH FRQVWUXFW DV WKH\ GLVFRYHU

PAGE 160

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f§WKH &RQIHGHUDF\ WKH QDWLRQ WKDW ZDV WKH XOWLPDWH H[SUHVVLRQ RI ZKLWH VXSUHPDF\
PAGE 161

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f§D QHZ LGHD LQ WKH HLJKWLHV DQG D OHJHQG RI LQFDOFXODEOH SRWHQWLDOLWLHV f 7KH 2OG 6RXWK WKXV EHFRPHV D ZD\ WR UHVLVW WKH RXWVLGHU DQG WKH ORFDO FRORU ZULWLQJ RI &KRSLQ 3DJH DQG &DEOH VHHNV WR UHVWRUH D JHRJUDSK\ RI WKH 2OG 6RXWK ZKLFK IXUWKHU UHVLVWV 1RUWKHUQ LPSHULDOLVP %\ UHWXUQLQJ FRQWURO RI WKH SURGXFWLRQ RI JHRJUDSK\ WR ORFDO KDQGV &KRSLQ 3DJH DQG &DEOH WULHG WR PDUJLQDOL]H WKRVH DJHQGDV FRQWUROOHG HOVHZKHUH ZKLFK VHHPLQJO\ GHVLUHG RQO\ WKH H[SORLWDWLRQ RI WKH 6RXWK DQG LWV PDWHULDO UHVRXUFHV

PAGE 162

:LWK WKHLU FRXQWHUPDSSLQJ SURMHFWV &KRSLQ 3DJH DQG &DEOH FRXOG LQYHQW WKH JHRJUDSK\ QHFHVVDU\ IRU WKH UHLWHUDWLRQ RI WKH 6RXWKHUQ QDWLRQ 7KDW VXFK D JHRJUDSK\ ZDV LPDJLQDWLYH GLG QRW PDWWHU JLYHQ WKH IDFW WKDW WKH QDWLRQ LWVHOI OLNH DOO QDWLRQVf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nV 8QFOH 7RPnV &DELQ ,Q ODWH QRYHOLVW DQG FLYLO ULJKWV DFWLYLVW $OELRQ : 7RXUJHH LQ DQ HVVD\ HQWLWOHG 7KH 6RXWK DV D )LHOG IRU )LFWLRQ VXUYH\HG WKH VWDWH RI $PHULFDQ OLWHUDWXUH DQG DUULYHG DW D FXULRXV FRQFOXVLRQ 2XU OLWHUDWXUH KDV EHFRPH QRW RQO\ 6RXWKHUQ LQ W\SH EXW GLVWLQFWO\ &RQIHGHUDWH LQ V\PSDWK\ f 7RXUJHH K\SRWKHVL]HG WKDW GHIHDW LQ ZDU KDG FUHDWHG D VZLIW HQVXLQJ H[FLWDWLRQ RI WKH PHQWDO IDFXOWLHV RI 6RXWKHUQ ZULWHUV ZKR ZHUH GHWHUPLQHG WR DOOHYLDWH DV PXFK DV SRVVLEOH WKH KXPLOLDWLRQ RI GHIHDW f 7KRXJK HDFK RI WKH QRYHOV FRQVLGHUHG KHUHf§&KRSLQnV $W )DXOW f 3DJHnV 5HG 5RFN f DQG &DEOHnV -RKQ 0DUFK 6RXWKHUQHU ff§ DSSHDUHG DIWHU 7RXUJHHnV HVVD\ HDFK YHULILHV KLV

PAGE 163

REVHUYDWLRQV ,Q IDFW HDFK QRYHO H[KLELWV QRW RQO\ DQ HIIRUW WR UHYLVH WKH KLVWRULFDO SHUFHSWLRQ RI WKH &RQIHGHUDF\ EXW DOVR D VXVWDLQHG DUJXPHQW TXHVWLRQLQJ LWV DFWXDO GHIHDW 7RXUJHHnV LQWXLWLRQ WKDW WKH 6RXWK ZDV D ILHOG IRU ILFWLRQ LGHQWLILHV WKH VLJQLILFDQFH RI WKH JHRJUDSKLFDO LQ ORFDO FRORU ZULWLQJ %XW LQ ODUJH PHDVXUH ILFWLRQ EHFDPH WKH ILHOG IRU ODQGVFDSHV WKDW QDUUDWHG D SROLWLFV RI 6RXWKHUQ QDWLRQDOLVP D SROLWLFV WKDW LQFUHDVLQJ IRXQG D KRPH RXWVLGH WKH 6RXWK DV ZHOO 7KH 7HUUDLQ RI 5DFH .DWH &KRSLQnV $W )DXOW ,Q KLV FULWLFDO ELRJUDSK\ RI .DWH &KRSLQ 3HU 6H\HUVWHG VXJJHVWV WKDW &KRSLQnV ZRUN VKRXOG QRW EH FKDUDFWHUL]HG DV PHUH ORFDO FRORU 6KH ZDV QRW LQWHUHVWHG LQ D G\LQJ FLYLOL]DWLRQ DQG VKH KDG QR ZLVK WR UHVFXH WKH SDVW 6H\HUVWHG DVVHUWV f
PAGE 164

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n ZRRG WUHHV VDYH ZKHUH D QDUURZ FRQYHQLHQW RSHQLQJ KDG EHHQ FXW LQWR WKHLU PLGVW DQG ZKHUH IXUWKHU GRZQ WKH SLQH KLOOV VWDUWHG LQ DEUXSW SURPLQHQFH IURP WKH ZDWHU DQG WKH GHDG OHYHO RI ODQG RQ HLWKHU VLGH RI WKHP 7KHVH KLOOV H[WHQGHG LQ D ORQJ OLQH RI JUDGXDO GHVFHQW IDU EDFN WR WKH ZRRGHG ERUGHUV RI /DF GX %RLV DQG ZLWKLQ WKH FLUFXLW ZKLFK WKH\ IRUPHG RQ RQH VLGH DQG WKH LUUHJXODU KDOI FLUFOH RI D VOXJJLVK ED\RX RQ WKH RWKHU OD\ WKH FXOWLYDWHG RSHQ JURXQG RI WKH SODQWDWLRQf§ULFK LQ LWV H[KDXVWOHVV SRZHUV RI UHSURGXFWLRQ f 7KH ODQGVFDSH UHIOHFWV D VSHFLILF FRQVHUYDWLYH VRFLDO RUGHU LQ WKH 6RXWK 7KH SODQWDWLRQ LV JHRJUDSKLFDOO\ ORFDWHG WKLV /RXLVLDQD SODQWDWLRQ VWUHWFKHG DORQJ WKH &DQH 5LYHUf 7KH ODQGVFDSH LWVHOI LV XQGHYHORSHG VOXJJLVK ,W KDV EHHQ QHDUO\ XQWRXFKHG E\ WKH RXWVLGH ZRUOG 7KH SODQWDWLRQ UHSUHVHQWV WKH DUHD RI FXOWLYDWLRQ ERWK LQ WHUPV RI LWV VSHFLILFDOO\ RUJDQL]HG XVH RI WKH ODQGVFDSH DQG LWV GHYHORSPHQW LQ FRPSDULVRQ WR WKH UHVW RI WKH ODQGVFDSH &KRSLQ SUHVHQWV D KLHUDUFKLFDO JHRJUDSK\ LQ ZKLFK WKH SODQWDWLRQ JHWV UHVWRUHG DV WKH SULPDU\ XQLW RI VRFLDO

PAGE 165

RUJDQL]DWLRQ LQ WKH 6RXWK 7KH UHVW RI WKH ODQGVFDSH DFWV DV D EXIIHU DJDLQVW RXWVLGH LQWUXVLRQV 7KH PLVWUHVV RI 3ODFH'X%RLV 7KHUHVH /D)LUPH RUJDQL]HV UHDGHUVn SHUFHSWLRQV RI WKH ODQGVFDSH WKURXJK KHU RZQ JD]H )RU H[DPSOH ZKHQ VKH UHEXLOGV KHU PDQVLRQ DIWHU D UDLOURDG OLQH FRPHV WRR FORVH WR KHU SURSHUW\ VKH UHVLVWV WKH SRVVLELOLW\ RI WKURZLQJ RII WKH SDVW ,Q EXLOGLQJ VKH DYRLGHG WKH WHPSDWLRQV RIIHUHG E\ PRGHUQ DUFKLWHFWXUDO LQQRYDWLRQV DQG FOXQJ WR WKH VLPSOLFLW\ RI ODUJH URRPV DQG EURDG YHUDQGDV D VW\OH ZKRVH PHULWV KDG VWRRG WKH WHVW RI HDV\JRLQJ DQG FRPIRUWORYLQJ JHQHUDWLRQV f 7KH PRGHUQ UHSUHVHQWV WHPSWDWLRQ LQQRYDWLRQV WKDW PLJKW HMHFW 7KHUHVH IURP KHU SULYDWH (GHQ ,QVWHDG VKH HPEUDFHV WKH VW\OH WKDW KDG EHHQ HPEUDFHG E\ HDV\JRLQJ DQG FRPIRUW ORYLQJ JHQHUDWLRQV RI WKH SDVW 7KHUHVH WDNHV WKH UHVSRQVLELOLW\ RI KHU LQKHULWDQFH ZKLFK V\PEROLFDOO\ DPRXQWV WR WKH ZKROH RI DQWHEHOOXP LGHDOLVP YHU\ VHULRXVO\ 7KHUHVH RUJDQL]HV QRW MXVW KHU RZQ OLYLQJ VSDFH EXW DOVR WKH HQWLUH ODQGVFDSH +HU SODQWDWLRQnV OD\RXW LV EDVHG RQ UDFLDO GHSOR\PHQW ,PPHGLDWHO\ DIWHU WKH GHVFULSWLRQ RI WKH QHZ SODQWDWLRQ KRXVH WKH IRFXV VKLIWV WR WKH GHVLJQ RI WKH UHVW RI WKH SURSHUW\ ,W WRR VKRZV D FRPPLWPHQW WR HDV\n JRLQJ DQG FRPIRUWORYLQJ JHQHUDWLRQV RI WKH SDVW 7KH QHJUR TXDUWHUV ZHUH VFDWWHUHG DW ZLGH LQWHUYDOV RYHU WKH ODQG EUHDNLQJ ZLWK SLFWXUHVTXH LUUHJXODULW\ LQWR WKH V\VWHPDWLF GLYLVLRQ RI ILHOG IURP ILHOG DQG LQ WKH HDUO\ VSULQJWLPH JOHDPLQJ LQ WKHLU QHZ FRDW RI ZKLWHZDVK DJDLQVW WKH WHQGHU JUHHQ RI WKH VSURXWLQJ FRWWRQ DQG FRUQ f

PAGE 166

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f§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

PAGE 167

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f 6LJQLILFDQWO\ WKH SODQWDWLRQ PDQVLRQ DFWV DV D IUDPLQJ GHYLFH IRU 7KHUHVHnV SLFWXUH $V 5D\PRQG :LOOLDPV VXJJHVWV LQ KLV FULWLTXH RI (QJOLVK QRYHOLVWVn GHSLFWLRQV RI WKH UXUDO ODQGVFDSH DQG LWV LQKDELWDQWV FRQVWUXFWLQJ NQRZDEOH FRPPXQLWLHV UHTXLUHV D VSHFLILF YDQWDJH SRLQW )RU ZKDW LV NQRZDEOH LV QRW RQO\ D IXQFWLRQ RI REMHFWVf§RI ZKDW LV WKHUH WR EH NQRZQ ,W LV DOVR D IXQFWLRQ RI VXEMHFWV RI REVHUYHUV RI ZKDW LV GHVLUHG DQG ZKDW QHHGV WR EH NQRZQ :LOOLDPV f :KDW QHHGV WR EH NQRZQ IRU WKH SXUSRVHV RI VXVWDLQLQJ 6RXWKHUQ SROLWLFDO DXWRQRP\ LV WKH LGHD RI D FRQWHQWHG EODFN SRSXODWLRQ EHLQJ WUHDWHG IDLUO\ DQG FRPSDVVLRQDWHO\ E\ ZKLWHV 7KXV +LUDP UDNHV VORZO\ %HWV\ ZDONV OHLVXUHO\ WR WKH SRXOWU\ \DUG XQKHHGLQJ WKH VFRUFKLQJ VXQUD\V 7KHUHVHnV SLFWXUH VKRZV QRW KDUG GHPDQGLQJ ODERU EXW ODERUHUV ZRUNLQJ XQGHU QHDUO\ LGHDO FRQGLWLRQV

PAGE 168

:RUWK PHQWLRQLQJ LV WKH FXULRXV RUGHULQJ RI EHLQJV LQ WKH SLFWXUH +LUDP DQG %HWV\ DUH FOHDUO\ KXPDQ EHLQJV WKRXJK %HWV\ DORQH LV JLYHQ VRPH SK\VLFDO GHVFULSWLRQ D SLHFH RI \RXWKIXO HERQ\ KHU EXVK\ EODFN KHDGf %XW +HFWRU DOVR PHQWLRQHG LQ WKH SDVVDJH LV DFWXDOO\ RQH RI 7KHUHVHnV GRJV 7KXV ZKLOH +LUDP DQG %HWV\ RSHUDWH ZLOOLQJO\ DQG SHDFHIXOO\ LQ WKH VHUYLFH RI WKH ODQGVFDSH WKHLU FRQIODWLRQ ZLWK +HFWRU SURYLGHV D VXEWOH EXW VSHFLILF SROLWLFDO PHVVDJHf§EODFNV ZKR ZRUN VR SHDFHIXOO\ XQGHUVWDQG WKH QHFHVVLW\ RI REHGLHQFH 6XFK REHGLHQFH EHJLQV LQ VLOHQFH ZLWK QR DUWLFXODWLRQ RI GLVVHQW 7KRVH HOHPHQWV RI WKH ODQGVFDSH QRW XQGHU WKH GLUHFW FRQWURO RI WKH SODQWDWLRQ UHSUHVHQW D WKUHDW WR ZKLWH KHJHPRQ\ DQG SURGXFH D ELW RI DQ[LHW\ 7KHUHVH SHUFHLYHV WKH WUDLQ VWDWLRQ RSSRVLWH KHU SURSHUW\ DV D EURZQ DQG XJO\ LQWUXGHU ZLWKLQ KHU IDLU GRPDLQ f 7KH VWDWLRQ QRW KDYLQJ EHHQ ZKLWHZDVKHG LV XJO\ QRW SLFWXUHVTXH OLNH WKH FDELQV IRU WKH EODFN ZRUNHUV 7KH VWDWLRQnV FRORU VSHDNV RI WKH GLIIHUHQFH WKDW KDG EHHQ VR YLJRURXVO\ UHSUHVVHG RQ WKH SODQWDWLRQ SURSHU $Q HYHQ PRUH RPLQRXV LQWUXGHU DOVR HQVFRQFHV LWVHOI LQ WKH ODQGVFDSH RI 3ODFH'X%RLVf§'DYLG +RVPHUnV VDZPLOO &RPLQJ IURP 6W /RXLV +RVPHU VHHV SURILW LQ 7KHUHVHnV SURSHUW\ DQG KH DVNV IRU DQG UHFHLYHV SHUPLVVLRQ WR EXLOG KLV PLOO ,Q JUDQWLQJ SHUPLVVLRQ 7KHUHVH VHHPV WR EH RSHQLQJ XS WKH ODQGVFDSH DQG LQGHHG WKH ZKROH VRFLDO V\VWHP RI 3ODFH

PAGE 169

'X%RLV WR SRWHQWLDOO\ UHYROXWLRQDU\ UHVKDSLQJ +RZHYHU +RVPHU SURYHV DQ XQILW DJHQW RI FKDQJH +H IDOOV LQ ORYH ZLWK 7KHUHVH DQG WKH ODQG WKH WZR FRQVLVWHQWO\ JHW FRQIODWHG E\ KLPf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n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

PAGE 170

EHHQ WKH DUFKLWHFWXUDO LQJHQXLW\ ZKLFK KDG FRQWULYHG WR XQLWH VR PDQ\ GZHOOLQJV LQWR VR VPDOO D VSDFH %HIRUH HDFK VSUHDG D OHQJWK RI FORVHO\ FOLSSHG JUDVV SORW DQG HYHU\ PLQLDWXUH IURQW GRRU ZRUH LWV IDQWDVWLF ZLQGRZ IXUQLVKLQJ HDFK VHW RI GHFRUDWLRQV KDYLQJ VHHPLQJO\ ILUHG WKH QH[W ZLWK HIIRUWV RI VXUSDVVLQJ HODERUDWLRQ f 7KH SUHYLRXVO\ RSHQ VSDFHV DUH QRZ EXLOW XSRQ DQG WKH PDWHULDO XVHG SUHVVHGEULFNf FRUUHVSRQGV WR WKH FODXVWURSKRELF QDWXUH RI WKH QHLJKERUKRRG :KHUHDV 7KHUHVH KDG UHMHFWHG PRGHUQ DUFKLWHFWXUDO LQQRYDWLRQV LQ EXLOGLQJ KHU PDQVLRQ DUFKLWHFWXUDO LQJHQXLW\ LV WKH FXOSULW LQ FUHDWLQJ WKH RYHUFURZGHG FRQGLWLRQV RI WKH FLW\ +RVPHU HPHUJHV IURP D ODQGVFDSH ZKHUH KLVWRU\ KDG EHHQ HUDVHG DQG SHUVRQDO VSDFH KDG EHHQ PLQLPL]HG +RVPHUn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f

PAGE 171

7KH PLOO EHFRPHV D NLQG RI SULVRQ IRU -RFLQW 7KH FRQVWUXFWLRQ RI WKH SDVVDJH UHIOHFWV D VWUDWHJ\ RI FRQWDLQPHQW DV ZHOO DV D MXVWLILFDWLRQ IRU VXFK D VWUDWHJ\ ,Q WKH PLOO -RFLQW LV FRQILQHG WR D QDUURZ FDU RQ ZKLFK KH JRHV EDFN DQG IRUWK EDFN DQG IRUWK -RFLQWnV IUHHGRP RI PRYHPHQW LV UHVWULFWHG MXVW DV WKH FRPPDV DQG WKH UHSHWLWLRQ UHVWULFW WKH PRYHPHQW RI WKH SDVVDJH +RZHYHU ZKHQ WKH IRFXV EHFRPHV ZKHUH 7KHUHVH LPDJLQHV -RFLQW ZRXOG OLNH WR EH WKH SDVVDJH EHFRPHV D UXQRQ ZLWK QR SXQFWXDWLRQ VKRUW RI WKH FORVLQJ SHULRG WR VORZ GRZQ WKH IORZ 2XWVLGH RI WKH PLOO -RFLQW UHSUHVHQWV WKH XQFRQWDLQHG EODFNQHVV WKDW FRXOG SRWHQWLDOO\ GLVUXSW WKH UHHPHUJLQJ SROLWLFDO ODQGVFDSH RI WKH 6RXWK +H LV RSHQ UHYROW DQG +RVPHUnV VDZPLOO KHOSV FRQWDLQ WKDW UHYROW 1R VSDFH LQ WKH ODQGVFDSH RI 3ODFH'X%RLV LV VDIH RU VWDEOH IRU WKH EODFNV OLYLQJ WKHUH $Q\ UHVKDSLQJ RI WKH ODQGVFDSH FDUULHV ZLWK LW D VLPXOWDQHRXV HUDVXUH RI DQ $IULFDQ$PHULFDQ SUHVHQFH )RU H[DPSOH ODWH LQ WKH QRYHO +RVPHUnV ZLIH )DQQ\ DQG 7KHUHVHnV ROG QXUVHPDLG 0DULH /RXLVH JHW VZDOORZHG XS E\ WKH VZROOHQ &DQH 5LYHU ZKLFK HURGHV WKH ODQG XSRQ ZKLFK 0DULH /RXLVHnV FDELQ VLWV +RVPHU ZLWQHVVHV WKH GHVWUXFWLRQ IURP D EDUJH LQ WKH PLGGOH RI WKH ULYHU :KDW >KH@ VDZ ZDV WKH VHFWLRQ RI ODQG RQ ZKLFK VWRRG 0DULH /RXLVHnV FDELQ XQGHUPLQHGf§EURNHQ DZD\ IURP WKH PDLQ ERG\ DQG JUDGXDOO\ JOLGLQJ LQWR WKH ZDWHU ,W PXVW KDYH VXQN ZLWK D ILUVW DEUXSW ZUHQFK IRU WKH EULFN FKLPQH\ ZDV VKDNHQ IURP LWV IRXQGDWLRQ WKH VPRNH LVVXLQJ LQ GHQVH FORXGV IURP LWV VKDWWHUHG VLGHV WKH KRXVH WRSSOLQJ DQG WKH URRI FDYLQJ f

PAGE 172

7KH ULYHU OLWHUDOO\ VZHHSV WKH FDELQ DQG LWV RFFXSDQWV IURP WKH VFHQH 6LJQLILFDQWO\ WKLV YLHZ RI WKH ODQGVFDSH LV VHHQ QRW WKURXJK 7KHUHVHnV H\HV EXW WKURXJK +RVPHUnV :KDW KH VHHV DQG ZKDW HVFDSHV KLV JD]H KLJKOLJKW KLV DGRSWLRQ RI WKH UDFLDO KLHUDUFK\ LQ WKH ODQGVFDSH $V +RVPHU FRQWLQXHV WR ZDWFK KH VHHV WKH GUXQNHQ )DQQ\ HPHUJH IURP WKH ZUHFNDJH 7KH OHDQLQJ KRXVH ZDV KDOI VXEPHUJHG ZKHQ )DQQ\ DSSHDUHG DW WKH GRRU OLNH D ILJXUH LQ D GUHDP VHHPLQJ D QDWXUDO SDUW RI WKH DZIXOQHVV RI LW P\ HPSKDVLVf )DQQ\ D ZUHFN RI D ZRPDQ VHHPV WR EH PHHWLQJ D V\PEROLFDOO\ DSSURSULDWH HQG +RVPHU LQLWLDOO\ WDNHV QR DFWLRQ +H RQO\ JD]HG RQ f %XW KH LV TXLFNO\ URXVHG WR DFWLRQ DQG DWWHPSWV DOEHLW XQVXFFHVVIXOO\ WR VDYH )DQQ\ +RVPHUnV DFWLRQV LQGLFDWH WKDW )DQQ\ GRHV QRW QDWXUDOO\ PHUJH ZLWK WKH ODQGVFDSH +HU DSSHDUDQFH LQ WKH ZUHFNDJH RI WKH FDELQ KLJKOLJKWV WKH IDFW WKDW VKH GHVHUYHV D UHVFXH HIIRUW 2Q WKH RWKHU KDQG )DQQ\nV FRPSDQLRQ LQ WKH FDELQ 0DULH /RXLVH QHYHU FRPHV LQWR +RVPHUnV OLQH RI VLJKW 2QH VHQWHQFH HQGV KHU SUHVHQFH LQ WKH QRYHO 2I 0DULH /RXLVH WKHUH ZDV QR VLJQ :KDW PDNHV 0DULH /RXLVHnV QRQDSSHDUDQFH DOO WKH PRUH TXHVWLRQDEOH LV WKH IDFW WKDW KHU LQLWLDO DSSHDUDQFH LQ $W )DXOW KLJKOLJKWHG KHU FRQVLGHUDEOH JLUWK 6KH LV GHVFULEHG DV FRDO EODFN DQG VR HQRUPRXVO\ IDW WKDW VKH PRYHG ZLWK HYLGHQW GLIILFXOW\ f
PAGE 173

RWKHUZLVH QHYHU JHWV UHFRYHUHG 0DULH /RXLVHnV EODFNQHVV LQ HIIHFW HIIDFHV KHU ERGLO\ SUHVHQFH $ ERG\ VR PXFK LQ HYLGHQFH OLWHUDOO\ EHFRPHV SDUW RI WKH ODQGVFDSH VZHSW DZD\ OLNH WKH ODQG WKDW KDG VXSSRUWHG WKH FDELQ 7KH ZKLWH ERG\ RI )DQQ\ RFFXSLHV WKH VFHQH WKHUH LV QR VLJQ RI 0DULH /RXLVH EHFDXVH VKH KHUVHOI LV UHGXFHG WR RQO\ D VLJQ DQ XQVWDEOH SUHVHQFH ZKRVH YHU\ H[LVWHQFH UHTXLUHV D UHDGHU LQ WKH SURSHU SROLWLFDO SRVLWLRQ +DYLQJ DGRSWHG 7KHUHVHnV YLHZ RI WKH ODQGVFDSH +RVPHU FDQQRW GLVWLQJXLVK EODFNQHVV IURP WKH ODQGVFDSH LWVHOI 0DULH /RXLVHnV H[LVWHQFH OLNH -RFLQWnV DQG DOO RI WKH EODFN FKDUDFWHUV LQ WKH QRYHO LV DV WHQXRXV DV WKDW RI WKH ODQG REOLWHUDWHG E\ QDWXUH 'HVSLWH WKH FRQYHUJHQFH RI 7KHUHVHnV DQG +RVPHUnV UHVSHFWLYH YLHZV RI WKH ODQGVFDSH DQG WKHLU PDUULDJH D FXULRXV VHSDUDWLRQ RI WKHLU LQGLYLGXDO VSKHUHV JHWV HQIRUFHG DW WKH HQG RI WKH QRYHO +RVPHU GHFLGHV WR VSHQG OHVV WLPH DW WKH VDZPLOO EXW KH DOVR UHMHFWV 7KHUHVHnV VXJJHVWLRQ WKDW KH KHOS KHU UXQ WKH SODQWDWLRQ 1R QR 0DGDPH 7KHUHVH KH ODXJKHG ,nOO QRW URE \RX RI \RXU RFFXSDWLRQ ,nOO SXW QR EXQJOLQJ KDQG LQWR \RXU FRQFHUQV NQRZ D VRXQG SLHFH RI WLPEHU ZKHQ VHH LW EXW VKRXOG KDUGO\ EH DEOH WR WHOO D VDPSOH RI 6HD ,VODQG FRWWRQ IURP WKH YHULHVW ORZ PLGGOLQJ f &KRSLQ ELRJUDSKHU 3HJJ\ 6NDJJV PDNHV WKH SRLQW WKDW LQ EHLQJ OHIW WR UXQ WKH SODQWDWLRQ RQ KHU RZQ 7KHUHVH UHWDLQV D VSDFH ZKHUH VKH FDQ IXOO\ H[SUHVV KHU DXWRQRP\ $QG VR 7KHUHVH ILQGV LW SRVVLEOH WR VDWLVI\ KHU QHHG IRU ORYH ZLWKRXW OLNH WKH RWKHU ZRPHQ LQ $W )DXOW VDFULILFLQJ WKH

PAGE 174

IXOILOOPHQW RI RQH RI KHU RWKHU QHHGV WKRVH IRU D SODFH ZKHUH VKH IHHOV WKDW VKH EHORQJV DQG IRU D VHQVH RI KHUVHOI DV D GLVFUHWH LQGLYLGXDO LQ FRQWURO RI KHU RZQ OLIH 6NDJJV f
PAGE 175

7KH SDUDOOHOV EHWZHHQ WKH )DQQ\+RVPHU PDUULDJH DQG WKH UHXQLRQ RI WKH 1RUWK DQG 6RXWK DIWHU WKH &LYLO :DU DUH FOHDU )RUFHG UHXQLRQV EDVHG RQ DQ XQLQWHOOLJHQW FRGH RI ULJKWHRXVQHVV SURGXFH RQO\ GLVPD\ 7KH XQLRQ EHWZHHQ 7KHUHVH /D)LUPH DQG 'DYLG +RVPHU SURYLGHV D PRGHO RI QRQn LQWHUIHUHQFH WKDW ZKLWH 6RXWKHUQHUV KRSHIXO RI UHFRQVWLWXWLQJ WKH 6RXWKHUQ QDWLRQ FRXOG KHDUWLO\ HQGRUVH 5HPDSSLQJ 'L[LH 3DJH DQG &DEOH 7KHUHVH /D)LUPHnV RZQHUVKLS RI 3ODFH'X%RLV XQGHUVFRUHV D VLJQLILFDQW SRLQW DERXW WKH VHPLRWLFV RI ODQGVFDSHf§WKRVH ZKR SRVVHVV WKH ODQG KDYH WKH SRZHU WR PDNH LW VLJQLI\ $V (GZDUG 6DLG SRLQWV RXW RZQHUVKLS LWVHOI GHULYHV LQ ODUJH PHDVXUH IURP VLJQLILFDWLRQ 7KH PDLQ EDWWOH LQ LPSHULDOLVP LV RYHU ODQG RI FRXUVH EXW ZKHQ LW FDPH WR ZKR RZQHG WKH ODQG ZKR KDG WKH ULJKW WR VHWWOH DQG ZRUN RQ LW ZKR NHSW LW JRLQJ ZKR ZRQ LW EDFN DQG ZKR SODQV LWV IXWXUHf§WKHVH LVVXHV ZHUH UHIOHFWHG FRQWHVWHG DQG HYHQ IRU D WLPH GHFLGHG LQ QDUUDWLYH 6DLG &XOWXUH DQG ,PSHULDOLVP [LL[LLLf 7KHUHVH LV DEOH WR QDUUDWH KHU SODQWDWLRQf§LQFOXGLQJ LWV UDFLDO GLYLVLRQVf§DQG FRQYLQFH 'DYLG +RVPHU WR UHDG WKDW QDUUDWLRQ DV DXWKRULWDWLYH EHFDXVH VKH RZQV WKH ODQG 7KXV ZHUH OHJLWLPDWH WLWOH WR 3ODFH'X%RLV WR EH FDOOHG LQWR JXHVWLRQ 7KHUHVHnV QDUUDWLYH ZRXOG EH DV ZHOO 7KRPDV 1HOVRQ 3DJH DQG *HRUJH :DVKLQJWRQ &DEOH .DWH &KRSLQnV FRQWHPSRUDULHV SURGXFH WKHLU RZQ QRYHOV DERXW ODQG RZQHUVKLS DQG WKH QDUUDWLYHV HPHUJLQJ IURP SRVVHVVLRQ 3DJHnV 5HG 5RFN SXEOLVKHG LQ WKRXJK 3DJH KDG FRPSOHWHG DQ

PAGE 176

LQLWLDO GUDIW RI WKH QRYHO DV HDUO\ DV f DQG &DEOHn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f§D FRQIOLFW WKDW KDV D GHFLGHGO\ 1RUWK YV 6RXWK WRQHf§DUH UHVROYHG LQ IDYRU QRW MXVW RI HDFK QRYHOnV PDLQ KHUR EXW DOVR RI WKH 6RXWK LWVHOI 3DJH DQG &DEOH HDFK FUHDWH D PDS RI WKH 6RXWK ZKLFK GHVSLWH LGHQWLI\LQJ QHZ WHUULWRU\ DFWXDOO\ IXQFWLRQV DV *UDKDP +XJJDQ VXJJHVWV DOO WUDGLWLRQDO PDSV SURGXFHG LQ WKH :HVWHUQ ZRUOG KDYH IXQFWLRQHG DV D YLVXDO SDUDGLJP IRU WKH RQWRORJLFDO DQ[LHW\ DULVLQJ IURP IUXVWUDWHG DWWHPSWV WR GHILQH D QDWLRQDO FXOWXUH +XJJDQ f 3XW VLPSO\ 3DJH DQG &DEOH VNHWFK WKH LPDJLQDU\ JHRJUDSKLFDO ERXQGDULHV RI WKH 6RXWKHUQ QDWLRQ ,Q VL[ \HDUV EHIRUH WKH SXEOLFDWLRQ RI 5HG 5RFN 7KRPDV 1HOVRQ 3DJH SXEOLVKHG DQ HVVD\ HQWLWOHG 7KH :DQW RI D +LVWRU\ RI WKH 6RXWKHUQ 3HRSOH ,Q LW 3DJH EHPRDQV WKH IDFW WKDW WKH KLVWRU\ RI WKH 6RXWK LQFOXGLQJ LQWHUSUHWDWLRQV RI WKH &RQIHGHUDF\nV PRWLYHV ZDV EHLQJ ZULWWHQ DOPRVW

PAGE 177

H[FOXVLYHO\ E\ 1RUWKHUQHUV SHRSOH ZKR KDG QR VSHFLDO V\PSDWK\ IRU WKH 6RXWK ,W LV WR WKLV VHFWLRQ KHUHWRIRUH LQKHUHQWO\ LQFDSDEOH RI FRPSUHKHQGLQJ KHU WKDW WKH 6RXWK KDV OHIW WKH ZULWLQJ RI WKH KLVWRU\ RI KHU FLYLOL]DWLRQ ,W PD\ DSSHDU WR EH QRW D PDWWHU RI LPSRUWDQFH ZKR ZULWHV WKH VWRU\ RI WKLV FRXQWU\ 0DQLIHVWO\ WKH 6RXWK KDV UHJDUGHG LW ,W LV KRZHYHU D VDG IDOODF\ 7KH :DQW RI D +LVWRU\ f 3DJHnV UHIHUHQFH WR WKLV FRXQWU\ LV XQFOHDU KH FRXOG PHDQ WKH 8QLWHG 6WDWHV DV D ZKROH RU VLPSO\ WKH 6RXWK ,Q DQ\ HYHQW 3DJH ZRUULHG WKDW WKH 6RXWK ZRXOG JR GRZQ LQ KLVWRU\ DV WKH EUHHGHU RI W\UDQWV WKH GHIHQGHU RI VODYHU\ WKH IRPHQWRU RI WUHDVRQ f 3DJHnV IHDUV DERXW ZKR ZRXOG EH WHOOLQJ WKH VWRU\ RI WKH 6RXWK UHIOHFW D NHHQ SHUFHSWLRQ DERXW WKH UROH RI QDUUDWLYH LQ WKH SURFHVV RI FXOWXUDO VHOIDVVHUWLRQ $V (GZDUG 6DLG FODLPV 7KH SRZHU WR QDUUDWH RU WR EORFN RWKHU QDUUDWLYHV IURP IRUPLQJ DQG HPHUJLQJ LV YHU\ LPSRUWDQW WR FXOWXUH DQG LPSHULDOLVP DQG FRQVWLWXWHV RQH RI WKH PDLQ FRQQHFWLRQV EHWZHHQ WKHP &XOWXUH DQG ,PSHULDOLVP [LLLf $V ORQJ DV 6RXWKHUQHUV GLG QRW QDUUDWH WKHPVHOYHV 3DJH IHDUHG WKH\ ZRXOG DOZD\V EH LPSRVHG XSRQ E\ WKH 1RUWK +H FKDOOHQJHG 6RXWKHUQ LQWHOOHFWXDOV WR SURGXFH D KLVWRU\ RI WKHLU RZQ WR FRQIURQW 1RUWKHUQ LQWHOOHFWXDO LPSHULDOLVP DQG GLVFRYHU WUXWK DPLG DOO WKH KHDSV RI IDOVHKRRG WKRXJK WKH\ ZHUH SLOHG XSRQ LW OLNH 3HOLRQ RQ 2VVD f 5HG 5RFN LV 3DJHnV PRVW GLUHFW DWWHPSW WR JLYH YRLFH WR WKH 6RXWKHUQ YLHZ RI 5HFRQVWUXFWLRQ ,Q KLV SUHIDFH WR WKH

PAGE 178

QRYHO 3DJH PDNHV FOHDU WKDW PRUH WKDQ VLPSO\ WKH SHUVSHFWLYH LQ KLV QRYHO KDV FKDQJHG 7UDGLWLRQDO JHRJUDSK\ FDQQRW EH FDOOHG XSRQ WR GHVFULEH WKH VHWWLQJ RI WKH QRYHO ,QVWHDG VD\V 3DJH ORFDWLQJ 5HG 5RFN WKH SODQWDWLRQ RZQHG E\ RQH RI WKH PDLQ FKDUDFWHUV -DFTXHOLQ *UD\ UHTXLUHV D QHZ NLQG RI PDS 7KH 5HJLRQ ZKHUH WKH *UD\V DQG &DU\V OLYHG OLHV WRR IDU IURP WKH FHQWUHV RI PRGHUQ SURJUHVV WR EH ODLG GRZQ RQ DQ\ PDS WKDW ZLOO EH DFFHVVLEOH $QG DV KH ZKR PDSV DQ XQGLVFRYHUHG FRXQWU\ PD\ SODFH ZKDW ERXQGDULHV KH ZLOO LW QHHG RQO\ EH VDLG WKDW LW OLHV LQ WKH 6RXWK VRPHZKHUH LQ WKDW YDJXH UHJLRQ SDUWO\ LQ RQH RI WKH ROG 6RXWKHUQ 6WDWHV DQG SDUWO\ LQ WKH \HW YDJXHU ODQG RI 0HPRU\ I5HG 5RFN YLLf /LNH 3ODFH'X%RLV 5HG 5RFN OLHV WRR IDU IURP WKH FHQWUHV RI PRGHUQ SURJUHVV 3DJH DV WKH KLVWRULDQ IRU WKH *UD\V DQG &DU\V WKH VXEWLWOH RI WKH QRYHO LV $ &KURQLFOH RI 5HFRQVWUXFWLRQf LV WKH PDSSHU UHDGLO\ DGPLWWLQJ WKDW KH LQVWDOOV WKH ERXQGDULHV (PSRZHUHG LQ WKLV ZD\ 3DJH FDQ WHOO WKH VWRU\ KH FKRRVHV WR WHOO 3DJHnV FKURQLFOH UHTXLUHV KLV LPDJLQDWLYH JHRJUDSK\ 3DJH OLWHUDOO\ FUHDWHV D QHZ SODFH LQ RUGHU WKDW KH PLJKW FUHDWH D QHZ QDUUDWLYH *HRUJH :DVKLQJWRQ &DEOH DOVR PDSV RXW D QHZ SODFH LQ -RKQ 0DUFK 6RXWKHUQHU &DEOH RULJLQDOO\ LQWHQGHG WR WLWOH WKH QRYHO :LGHZRRG WKH QDPH RI -RKQ 0DUFKnV SODQWDWLRQ 7XUQHU f SDUDOOHOLQJ 3DJHnV HPSKDVLV RQ SODFH (YHQ &DEOHnV HYHQWXDO WLWOH UHIOHFWV D FRPPLQJOLQJ RI FKDUDFWHU DQG SODFH -RKQ 0DUFK 6RXWKHUQHU LV D QRYHO FRQVLVWHQWO\ SUHRFFXSLHG ZLWK ODQG DQG SODFH &DEOH SURYLGHV KLV P\WKLFDO VHWWLQJ ZLWK WKH YHU\ ILUVW VHQWHQFH

PAGE 179

,Q WKH 6WDWH RI 'L[LH &RXQW\ RI &OHDUZDWHU DQG WKHUHIRUH LQ WKH YHU\ KHDUW RI ZKDW ZDV RQFH WKH 6RXWKHUQ &RQIHGHUDF\ OLHV WKDW QRWHG VHDW RI JRYHUQPHQW RI RQH FRXQW\ DQG VKLSSLQJ SRLQW IRU WKUHH 6XH] -RKQ 0DUFK f &DEOH OLNH 3DJH SURYLGHV D YDJXH JHRJUDSKLFDO DQFKRULQJf§ WKH YHU\ KHDUW RI ZKDW ZDV RQFH WKH n6RXWKHUQ &RQIHGHUDF\n %XW DV LV FOHDU IURP WKH LPDJLQHG FRPPXQLW\ WKDW &DEOH QDPHV KH WRR ZLOO EH UHO\LQJ RQ WKH YDJXHU ODQG RI 0HPRU\ &DEOH KDG VHW KLV EHVW NQRZQ QRYHOV DQG VKRUW VWRULHV LQ DQG DURXQG 1HZ 2UOHDQV EXW QRZ VRXJKW DQ LPDJLQDWLYH JHRJUDSK\ IRU WHOOLQJ WKH OLIH VWRU\ RI D 6RXWKHUQHU &DEOHnV P\WKLF WRZQ RI 6XH] FDQQRW EH IRXQG RQ D WUDGLWLRQDO PDS )RU H[DPSOH LQ QRWLQJ WKH SUR[LPLW\ RI WKH 6ZDQHH 5LYHU WR 6XH] &DEOH DVVHUWV WKDW WKH ULYHU KH LV WDONLQJ DERXW LV WKDW WUXH 6ZDQHH 5LYHU QRW RI WKH PDSV EXW ZKLFK IORZV IRUHYHU nIDU IDU DZD\n WKURXJK WKH QXPEHUV RI LPSHULVKDEOH VRQJ f 7UDGLWLRQDO PDSV OLNH WUDGLWLRQDO KLVWRULHV FDQQRW VLJQLI\ WKH KLGGHQ DQG GHQLJUDWHG QDUUDWLYHV RI WKH 6RXWK 0DSV HQVXUH QR SHUPDQHQFH LQGHHG WKH 6RXWKHUQ &RQIHGHUDF\ DFFRUGLQJ WR PDSV QR ORQJHU H[LVWHG 6RQJV DQG QRYHOV OLNH WKH RQH &DEOH ZDV ZULWLQJ FRXOG SURYH LPSHULVKDEOH PRVWO\ EHFDXVH WKHLU QDUUDWLYHV FRXOG EH UHLWHUDWHG RYHU DQG RYHU 7KXV LPDJLQDWLYH JHRJUDSK\ RQFH HPEHGGHG LQ WKH PLQGV RI UHDGHUV ZRXOG KDYH D SHUPDQHQFH WKDW QR ZDU RU KLVWRU\ FRXOG HYHU HUDVH 7KH LPDJLQHG 6RXWKHUQ

PAGE 180

&RQIHGHUDF\ DQG LWV KLVWRU\ UHTXLUHG WKH ERG\ WKDW VXFK D JHRJUDSK\ DV PDSSHG RXW E\ 3DJH DQG &DEOH FRXOG SURYLGH /LNH .DWH &KRSLQ ERWK 3DJH DQG &DEOH FUHDWH ODQGVFDSHV WKDW DUH WKHPVHOYHV QDUUDWLYH VSDFHV YHQXHV WKDW HQGRUVH 6RXWKHUQ QDWLRQDOLVP %\ FUHDWLQJ WKHLU RZQ KRPHODQGV HDFK ZULWHU DYDLOV KHUKLPVHOI RI D PHDQV WKDW KDV D WUHPHQGRXV LPSDFW RQ WKH FRQVWUXFWLRQ RI D QDWLRQDO LGHQWLW\ $V : 7 0LWFKHOO DVVHUWV ODQGVFDSH FUHDWHV NQRZDEOH VXUURXQGLQJV DQG HQWLFHV YLHZHUV LQWR NQRZLQJ /DQGVFDSH GRHVQnW PHUHO\ VLJQLI\ RU V\PEROL]H SRZHU UHODWLRQV LW LV DQ LQVWUXPHQW RI FXOWXUDO SRZHU SHUKDSV HYHQ DQ DJHQW RI SRZHU WKDW LV RU IUHTXHQWO\ UHSUHVHQWV LWVHOI DVf LQGHSHQGHQW RI KXPDQ LQWHQWLRQV /DQGVFDSH DV D FXOWXUDO PHGLXP WKXV KDV D GRXEOH UROH ZLWK UHVSHFW WR VRPHWKLQJ OLNH LGHRORJ\ LW QDWXUDOL]HV D FXOWXUDO DQG VRFLDO FRQVWUXFWLRQ UHSUHVHQWLQJ DQ DUWLILFLDO ZRUOG DV LI LW ZHUH VLPSO\ JLYHQ DQG LQHYLWDEOH DQG LW DOVR PDNHV WKDW UHSUHVHQWDWLRQ RSHUDWLRQDO E\ LQWHUSHOODWLQJ LWV EHKROGHU LQ VRPH PRUH RU OHVV GHWHUPLQDWH UHODWLRQ WR LWV JLYHQQHVV DV VLJKW DQG VLWH 7KXV ODQGVFDSH ZKHWKHU XUEDQ RU UXUDO DUWLILFLDO RU QDWXUDOf DOZD\V JUHHWV XV DV VSDFH DV HQYLURQPHQW DV WKDW ZLWKLQ ZKLFK ZH ILJXUHG DV WKH ILJXUHV LQ WKH ODQGVFDSHf ILQGf§RU ORVHRXUVHOYHV 0LWFKHOO f %\ GHSOR\LQJ VSHFLILF FRQYHQWLRQV RI ODQGVFDSH DUWLVWV FDQ FUHDWH DVVRFLDWLRQV WKDW EHFRPH LPSHULVKDEOH 3DJH DQG &DEOH ERWK XWLOL]H WKH PHGLXP RI ODQGVFDSH WR DUJXH IRU WKH OHJLWLPDF\ DQG GHVLUHDELOLW\ RI 6RXWKHUQ QDWLRQDOLVWLF LGHQWLW\ 3DJH EHJLQV %HG 5RFN ZLWK D VSHFLILF GHVFULSWLRQ RI WKH ODQGVFDSH DURXQG WKH *UD\ SODQWDWLRQ 7KH RULJLQ RI WKH SODQWDWLRQnV QDPH 5HG 5RFN LQ IDFW KDV D EDVLV LQ WKH VXUURXQGLQJ ODQGVFDSH

PAGE 181

$V HYHU\ERG\ LQ WKH FRXQWU\ NQHZ ZKR NQHZ DQ\WKLQJ LW WRRN LWV QDPH IURP WKH JUHDW UHG VWDLQ DV ELJ DV D EODQNHW ZKLFK DSSHDUHG RQ WKH KXJH ERZOGHU >VLF@ LQ WKH JURYH EHVLGH WKH IDPLO\ JUDYH\DUG DW WKH IDU HQG RI WKH 5HG 5RFN JDUGHQV $QG DV ZDV HJXDOO\ ZHOO NQRZQ RU HTXDOO\ ZHOO EHOLHYHG ZKLFK DPRXQWHG DOPRVW WR WKH VDPH WKLQJ WKDW VWDLQ ZDV WKH EORRG RI WKH ,QGLDQ FKLHI ZKR KDG VODLQ WKH ZLIH RI WKH ILUVW -DFTXHOLQ *UD\ ZKR FDPH WR WKLV SDUW RI WKH ZRUOG I5HG 5RFN f %HIRUH KH KDG HYHU EXLOW KLV PDQVLRQ WKH ILUVW -DFTXHOLQ *UD\ KDG OLWHUDOO\ ZULWWHQ RQ WKH ODQGVFDSH XVLQJ WKH EORRG RI WKH PXUGHURXV ,QGLDQ FKLHI IRU KLV LQN 7KDW ZULWLQJ OHG WR WKH QDPH RI WKH *UD\ SODQWDWLRQ DQG VHUYHG DV D SHUSHWXDO PHPRULDO RI WKH VZLIW YHQJHDQFH RI WKH -DFTXHOLQ *UD\V f -DFTXHOLQ *UD\n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nV PLQGV FOHDUO\ XQWHQDEOH IRU WKHUH QHYHU FRXOG KDYH EHHQ DQ\ JODFLHU WKHUHf§JODFLHUV DV WKH\ NQHZ IURP WKHLU JHRJUDSKLHV EHLQJ FRQILQHG WR 6ZLW]HUODQG DQG WKH ZRUOG KDYLQJ EHHQ FUHDWHG RQO\ VL[ WKRXVDQG \HDUV DJR f +LV VFKRROPDWHV UHMHFW 6WHYH $OOHQnV VFLHQWLILF H[SODQDWLRQ EHFDXVH WKHLU H[SHULHQFH RI WKH ODQG KDG EHHQ JURXQGHG LQ WKH OHJHQG RI WKH ,QGLDQNLOOHU 7KHLU JHRJUDSKLHV DGG VFLHQWLILF EDFNLQJ WR WKH VWRU\ RI WKH ILUVW -DFTXHOLQ *UD\ 7KH ODQGVFDSH SURYLGHG WKH FDQYDV XSRQ ZKLFK WKH OHJHQG FRXOG EH ZULWWHQ DQG DW WKH VDPH WLPH WKH OHJHQG EHFDPH

PAGE 182

QDWXUDOL]HG DQG SDVVHG GRZQ ,Q LWV FRQVWDQW UHLWHUDWLRQ WKH OHJHQG EHFRPHV WUXH MXVW DV NQRZOHGJH DQG EHOLHI JHW FRQIODWHG E\ WKH QDUUDWRU RI WKH QRYHO 7R VXVWDLQ WKH ,QGLDQNLOOHU OHJHQG WKH *UD\V PXVW UHWDLQ SRVVHVVLRQ RI WKH ODQG 7KRXJK WKH UHDVRQV IRU WKH ,QGLDQnV DFW RI PXUGHU DUH QHYHU H[SODLQHG KLV EORRG VLJQLILHV QRW RQO\ WKH VSRW RI KLV GHDWK EXW DOVR WKH PRPHQW WKDW KLV FODLP WR WKH ODQG HQGHG -DFTXHOLQ *UD\nV WULXPSK SHUPLWV 5HG 5RFN WR EHJLQ DQG WKH FLUFXODWLRQ RI WKH ,QGLDQ NLOOHU OHJHQG PHUHO\ UHLQIRUFHV WKH *UD\Vn FODLP WR WKH ODQG (GZDUG 6DLG KDV UHPDUNHG XSRQ WKH IDFW WKDW SRVVHVVLRQ RI ODQG RIWHQ HQJHQGHUV VWRULHV DERXW WKH RZQHG WHUUDLQ ,Q IDFW LQ 6DLGnV YLHZ WKH QDUUDWLYHV DUH QHFHVVDU\ IRU DFTXLULQJ DQG PDLQWDLQLQJ FRQWURO RYHU ODQG 7KH JHRJUDSKLFDO VHQVH PDNHV SURMHFWLRQVf§LPDJLQDWLYH FDUWRJUDSKLF PLOLWDU\ HFRQRPLF KLVWRULFDO RU LQ D JHQHUDO VHQVH FXOWXUDO ,W DOVR PDNHV SRVVLEOH WKH FRQVWUXFWLRQ RI YDULRXV NLQGV RI NQRZOHGJH DOO RI WKHP LQ RQH ZD\ RU DQRWKHU GHSHQGHQW XSRQ WKH SHUFHLYHG FKDUDFWHU DQG GHVWLQ\ RI D SDUWLFXODU JHRJUDSK\ &XOWXUH DQG ,PSHULDOLVP f 1DUUDWLYHV RU SURMHFWLRQV PDS RXW D SLHFH RI ODQG 7KHVH QDUUDWLYHV PDNH WKH ODQG NQRZDEOH DQG VKRZ FOHDUFXW SRVVHVVLRQ $W WKH VDPH WLPH VXFK QDUUDWLYHV FDQFHO RXW RU GHQ\ OHJLWLPDF\ WR RWKHU SRVVLEOH QDUUDWLYHV -DFTXHOLQ *UD\nV WULXPSK ZLSHG RXW DQ\ SRVVLEOH QDUUDWLYH RI WKH ,QGLDQ DQG WKH PRUH HPEHGGHG WKH ,QGLDQNLOOHU OHJHQG EHFDPH WKH PRUH HDVLO\ DOWHUQDWLYH UHDGLQJV RI WKH ODQGVFDSH OLNH 6WHYH $OOHQnV FRXOG EH GLVPLVVHG

PAGE 183

7KH PDMRU WHQVLRQ LQ WKH QRYHO WKXV EHFRPHV WKH TXHVWLRQ RI RZQHUVKLS RI WKH ODQG $IWHU WKH ZDU WKH GHIHDWHG UHEHOV IHDU WKDW WKH\ PLJKW ORVH FRQWURO RI WKHLU ODQG DQG KHQFH WKHLU GHVWLQ\ 7KH 8QLRQ FRPPDQGHU RI WKH 5HG 5RFN UHJLRQ -RQDGDE /HHFK KLWV XSRQ D SODQ WR UHSRVVHVV ODQG IURP GHVWLWXWH RZQHUV DQG GLVWULEXWH LW DPRQJ IUHH EODFNV :KHQ RQH ODQGRZQHU REMHFWV WR WKH SODQ DV UREEHU\ /HHFK VHHNV WR FKDQJH WKH WHUPV RI WKH GHEDWH
PAGE 184

RQ WKH ULJKW D WKLQ JUHHQ PDQWOH WKDW RQO\ KDOI FORWKHG WKH UHG VKRXOGHU RI D ULVH DORQJ WKH HDVWHUQ VN\ ZDV FRWWRQ WKH VRPHWLPH UR\DO FODLPDQW XQVFHSWUHG EXW VWLOO SRWHQW DQG IXOO RI EHDXW\ &-RKQ 0DUFK f 7KH ODQGVFDSH UHIOHFWV WKH FRQGLWLRQ RI WKH 6RXWKf§EUXLVHG DQG WRUQ UDYLVKHG 7KH LQYDGLQJ DUP\ KDG UDSHG WKH ODQGVFDSH EXW WKH SRWHQWLDO IRU UHJHQHUDWLRQ UHPDLQV &RWWRQ WKH HFRQRPLF EDFNERQH RI WKH 2OG 6RXWK WKRXJK XQVFHSWUHG LQ ZDU UHPDLQV SRWHQW DQG IXOO RI EHDXW\ 7KH ODQGVFDSH UHIOHFWV WKH DWWLWXGH RI RQH UHWXUQLQJ VROGLHU ZHnYH JRW VWXII HQRXJK OHIW WR PDNH D FRXQWU\ RI \HW f 7KH 0DUFK SODQWDWLRQ :LGHZRRG EHFRPHV D NH\ FRPSRQHQW RI YDULRXV VFKHPHV RI UHFRQVWUXFWLRQ LQ 6XH] %XW -RKQnV IDWKHU -XGJH 3RZKDWDQ 0DUFK UHDGV KLV HVWDWH LQ D ZD\ WKDW LV FRQWUDU\ WR WKH YLVLRQV RI GHYHORSHUV -XGJH 0DUFK DUWLFXODWHV KLV UHDGLQJ ZKHQ KH H[SODLQV WR -HII-DFN 5DYHQHO 6XH]nV QHZVSDSHU HGLWRU WKDW KH DQG -RKQ HVFKHZ WUDGLWLRQDO ERRN OHDUQLQJ IRU ZKDW WKH\ ILQG LQ WKH ODQG :HnUH RQO\ VFKRROPDWHV WRJHWKHK VLUf§LQ WKH VFKRRO RI 1DWXUH VLU
PAGE 185

\HDUQV WR GHYHORS 6XH] EXW WR EULQJ WKHLU GHYHORSPHQW SODQ WR IUXLWLRQ WKH\ QHHG :LGHZRRG *DUQHW RIIHUV KLV YLVLRQ IRU 6XH] ZKLOH VKRZLQJ D \RXQJ 1RUWKHUQ EXVLQHVVPDQ DQG SRWHQWLDO LQYHVWRU +HQU\ )DLU DURXQG &OHDUZDWHU &RXQW\ *DUQHW HQWKXVLDVWLFDOO\ GHVFULEHV WKH SRWHQWLDO RI WKH ODQG 7KHUHnV HQRXJK PLQHUDO ZHDOWK LQ :LGHZRRG DORQH WR PDNH 6XH] D 3LWWVEXUJ >VLF@ DQG ZDWHUSRZHU HQRXJK WR PDNH KHU D 0LQQHDSROLV DQG ZHnUH JRLQJ WR PDNH KHU ERWK VLU 7KH PRQRORJXH EHFDPH DQ DYDODQFKH RI FRDO UHG KHPDWLWH PDUEOH PLFD PDQJDQHVH WDU WLPEHU WXUSHQWLQH OXPEHU OHDG RFKUH DQG EDU\WHV ZLWK VLJQV RI VLOYHU JROG DQG GLDPRQGV -RKQ 0DUFK f *DUQHWn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

PAGE 186

DLQnW VR PRUWDO PXFK EXW WKH\nYH EHHQ RQ VR ORQJ ZHnG DOPRVW EH DIUDLG WR WDNH WKHP RII 7KH\nUH GULHG RQ VLUf§JURZQ LQ f 7KXV WKH RQO\ QDUUDWLYHV DERXW :LGHZRRG UDWKHU WKDQ SURFODLPLQJ WKH 0DUFKHVn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nV QRYHO -RKQnV PDUULDJH WR %DUEDUD *DUQHW WKH GDXJKWHU RI RQH RI WKH ODQG GHYHORSHUV KHOSV -RKQ ZLQ EDFN WKH ODQG WKDW LV ULJKWIXOO\ KLV 1R RQH XQGHUVWRRG EHWWHU WKDQ 7KRPDV 1HOVRQ 3DJH ZKDW 1RUWKHUQ ERRN HGLWRUV ZDQWHG LQ 5HFRQVWUXFWLRQ ILFWLRQ +LV QRZIDPRXV DGYLFH WR DVSLULQJ QRYHOLVW *UDFH .LQJ RIIHUHG D VSHFLILF IRUPXOD IRU JHWWLQJ SXEOLVKHG -XVW ULS RSHQ DQG LQVHUW D ORYH VWRU\ ,W LV WKH HDVLHVW WKLQJ WR GR LQ WKH ZRUOG *HW D SUHWW\ JLUO DQG QDPH KHU -HDQQH WKDW QDPH DOZD\V WDNHV 0DNH KHU IDOO LQ ORYH

PAGE 187

ZLWK D )HGHUDO RIILFHU DQG \RXU VWRU\ ZLOO EH SULQWHG DW RQFH .LQJ f ,Q 5HG 5RFN 3DJH YDULHV WKLV IRUPXOD D ELW EXW KH GRHV XVH ORYH VWRULHV DQG PDUULDJH WR YDOLGDWH 6RXWKHUQ YDOXHV -XVW DV WKH PDUULDJH RI 7KHUHVH /D)LUPH DQG 'DYLG +RVPHU LQ $W )DXOW UHSUHVHQWV WKH FXOPLQDWLRQ RI +RVPHUn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
PAGE 188

-DFTXHOLQ *UD\ WKH JUHDWJUHDW JUDQGVRQ RI WKH ,QGLDQ NLOOHUf LV DEOH WR UHJDLQ FRQWURO RI 5HG 5RFN SODQWDWLRQ 5XWK :HOFKnV IDWKHU D PDMRU LQ WKH 8QLRQ DUP\ GXULQJ WKH ZDU KDG SUHYLRXVO\ SXUFKDVHG D SDUW RI 5HG 5RFN IURP +LUDP 6WLOO WKH *UD\Vn IRUPHU SODQWDWLRQ RYHUVHHU EXW ILQGLQJ RXW WKDW WKH SODQWDWLRQ KDG EHHQ DFTXLUHG WKURXJK GXELRXV PHDQV 0DMRU :HOFK WXUQHG KLV SRUWLRQ EDFN RYHU WR -DFTXHOLQ *UD\ $W WKH HQG RI WKH QRYHO 5XWKnV HIIRUWV WR VDYH 6WHYH DUH UHZDUGHG E\ -DFTXHOLQ 7KH GD\ DIWHU KHU PDUULDJH 5XWK UHFHLYHG D GHHG ZKLFK KDG MXVW EHHQ UHFRUGHG FRQYH\LQJ WR KHU WKH SDUW RI 5HG 5RFN ZKLFK 0DMRU :HOFK KDG ERXJKW RI 6WLOO DQG UHVWRUHG WR -DFTXHOLQ DQG ZLWK WKH GHHG D OHWWHU IURP -DFTXHOLQ DVNLQJ KHU DV 6WHYHnV ZLIH WR DFFHSW LW IURP KLP DQG >KLV EURWKHU@ 5XSHUW DV D ZHGGLQJ SUHVHQW f -DFTXHOLQ KDG EHHQ DVNHG E\ KLV IDWKHU QHYHU WR VHOO DQ\ ODQG /DQGKROGLQJ LV RQH RI WKH VDIHJXDUGV RI D JHQWU\ WKH HOGHU *UD\ WHOOV KLV VRQ EHIRUH KHDGLQJ RII WR ZDU 2XU SHRSOH IRU VL[ JHQHUDWLRQV KDYH QHYHU VROG DQ DFUH DQG QHYHU NQHZ D PDQ ZKR VROG ODQG WKDW WKURYH f 7KXV LQ GHHGLQJ D SRUWLRQ RI 5HG 5RFN WR 5XWK -DFTXHOLQJ PDNHV D V\PEROLF JHVWXUH 5XWK LV DFFHSWHG LQWR WKH 6RXWKHUQ JHQWU\f§KHU FUHGHQWLDOV DV D WUXH 6RXWKHUQHU DW KHDUW DUH DIILUPHG 2Q WKH VXUIDFH WKH PDUULDJH RI 5XWK :HOFK DQG 6WHYH $OOHQ VHHPV WR DFNQRZOHGJH WKH UHXQLRQ RI UHJLRQV %XW WKDW UHXQLRQ LV FOHDUO\ JURXQGHG LQ 6RXWKHUQ WHUUDLQ DQG 6RXWKHUQ YDOXHV *HRJUDSK\ DOVR SOD\V D VLJQLILFDQW UROH LQ WKH URPDQFH EHWZHHQ DQG HYHQWXDO PDUULDJH RI -RKQ 0DUFK DQG %DUEDUD *DUQHW 7KH WZR ILUVW EHFRPH DWWUDFWHG WR RQH DQRWKHU ZKLOH

PAGE 189

LQ 1HZ (QJODQG 7KHLU FRPPRQ KHULWDJH JLYHV WKHP D WUDQVFHQGHQW VHQVH RI WKH 6RXWK WKDW RYHUSRZHUV WKHLU FXUUHQW ORFDWLRQ %XW 0U 0DUFK ZKDW LV LW LQ WKH 6RXWK WKDW ZH 6RXWKHUQHUV ORYH VR" 0U )DLU DVNHG PH WKLV PRUQLQJ DQG ZKHQ FRXOGQnW H[SODLQ KH ODXJKHG 2I FRXUVH GLGQnW FRQIHVV P\ KXPLOLDWLRQ LQWLPDWHG WKDW LW ZDV VLPSO\ VRPHWKLQJ D 1RUWKHUQHU FDQnW XQGHUVWDQG :DVQnW WKDW ULJKW" &HUWDLQO\ 7KH\ FDQnW XQGHUVWDQG LW 7KH\ VHHP WR WKLQN WKH 6RXWK ZH ORYH LV D FHUWDLQ UHJLRQ DQG HYHU\WKLQJ DQG HYHU\ERG\ ZLWKLQ LWV ERUGHUV KDYH D PLJKW\ GLP LGHD ZKHUH LWV 1RUWKHUQ ERUGHU LV VLWXDWHG :K\ VR ZH DOO KDYH 2XU 6RXWK LVQnW D PDWWHU RI ERXQGDULHV RU VNLHV RU ODQGVFDSHV 'RQnW \RX DQG ILQG LW DOO KHUH QRZ VLPSO\ EHFDXVH ZHnYH ERWK JRW WKH WUXH IHHOLQJf§WKH RQH KHDUWEHDW IRU LW" %DUEDUDnV RQO\ DQVZHU ZDV D VWURQJHU KHDUWEHDW ,WnV QRW UHVXPHG 0DUFK D 6RXWK RI FOLPDWH OLNH D
PAGE 190

VRFLDO FLYLO SROLWLFDO HFRQRPLF URPDQWLFf§WKDW LQWHUSHOODWH 6RXWKHUQHUV OLNH -RKQ DQG %DUEDUD :KLOH -RKQ 0DUFK HVFKHZV JHRJUDSK\ DQG ODQGVFDSHV DV WKH ERXQGLQJ SULQFLSOH RI 6RXWKHUQQHVV ERWK KH DQG %DUEDUD FRQVLVWHQWO\ UHVRUW WR WKH UHJLVWHU RI JHRJUDSK\ WR DIILUP WKHLU OR\DOW\ WR WKH 6RXWK (YHQ DV WKH\ WDON DERXW D 6RXWK QRW ERXQGHG E\ JHRJUDSK\ %DUEDUD UHVRUWV WR WKH ODQG WR SURFODLP 6RXWKHUQ GLVWLQFWLYHQHVVf§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

PAGE 191


PAGE 192

GUXJJHG E\ WKH HQGOHVV SURILWHHULQJ WKDW DFFRPSDQLHV 1RUWKHUQ VFKHPHV RI GHYHORSPHQW KDYH SHUPLWWHG WKHLU WRZQ WR ORVH LWV 6RXWKHUQ LGHQWLW\ /HG E\ 0DMRU *DUQHW WKH\ ZLOOLQJO\ DFFHGH WR D UHVLJQLILFDWLRQ RI WKHLU WRZQ DQG WKH VXUURXQGLQJ ODQGVFDSH *DUQHW WKH IRUPHU &RQIHGHUDWH KDV ORVW KLV SODFHf§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f§KH VFUDWFKHV 6RXWKHUQHU RQ WKDW VLJQ DQG -RKQ 0DUFK EHFRPHV D SURIHVVLRQDO 6RXWKHUQHU +LV SODFH EHFRPHV KLV SURIHVVLRQ D NLQG RI FRXQWHUFDSLWDOLVW UHVLVWDQFH WR WKH LGHD WKDW SURIHVVLRQ GHWHUPLQHV SODFH -RKQnV PDUULDJH WR %DUEDUD *DUQHW DIWHU VKH V\PEROLFDOO\ UHMHFWV +HQU\ )DLUnV SURSRVDOf IXUWKHU HQIRUFHV WKH SULPDF\ RI SODFH 7KH PDUULDJH XQLWHV WKH WZR ODUJHVW HVWDWHV LQ &OHDUZDWHU &RXQW\ SXWWLQJ WKH ODQG EDFN XQGHU 6RXWKHUQ FRQWURO -RKQ FDQ WKXV EHJLQ KLV

PAGE 193

UHGHPSWLRQ RI 6XH] IURP WKH SLOODJLQJ IRUFHV RI FDSLWDOLVP ZKLFK KDG EHHQ PDUVKDOOHG E\ 0DMRU *DUQHW 3DJHnV DQG &DEOHn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
PAGE 194

127(6 nRQO\ D SDUWLDO OLVWLQJ RI WKHVH DXWKRUV DQG WKHLU ZRUNV XQGHUVFRUHV WKH GRYHWDLOLQJ RI WKH JHQUH RI ORFDO FRORU DQG WKH KLVWRULFDO PRPHQW 0DUN 7ZDLQ FRPSOHWHG +XFNOHEHUU\ )LQQ LQ DIWHU D IRXU\HDU EDWWOH ZLWK ZULWHUnV EORFN RYHU KRZ WR FORVH WKH QRYHO *HRUJH :DVKLQJWRQ &DEOHnV 7KH *UDQGLVVLPHV ZDV SXEOLVKHG LQ WKH \HDU WKH 6XSUHPH &RXUW DJUHHG WR KHDU WKH &LYLO 5LJKWV FDVHV &DEOHnV PRVW SURGXFWLYH SHULRG FOLPD[HG LQ ZLWK WKH SXEOLFDWLRQ RI -RKQ 0DUFK 6RXWKHUQHU ZKLFK LV GHDOW ZLWK PRUH H[WHQVLYHO\ LQ WKLV HVVD\ .DWH &KRSLQ SXEOLVKHG H[WHQVLYHO\ LQ WKH ODVW GHFDGH RI WKH QLQHWHHQWK FHQWXU\ $W )DXOW f %D\RX )RON f $ 1LJKW LQ $FDGLH f DQG KHU EHVW NQRZQ ZRUN 7KH $ZDNHQLQJ f 7KRPDV 1HOVRQ 3DJH KDG D GUDIW RI KLV PRVW SURPLQHQW QRYHO 5HG 5RFN FRPSOHWHG LQ HDUO\ ILQDOO\ SXEOLVKLQJ LW LQ ,Q WKH PHDQWLPH KH SXEOLVKHG KLV PRVW IDPRXV VKRUW VWRU\ 0DUVH &KDQ LQ DV ZHOO DV ,Q 2OH 9LUJLQLD f DQG 7ZR /LWWOH &RQIHGHUDWHV f 7KLV OLVW LV KDUGO\ H[KDXVWLYH 6HH 7KH +LVWRU\ RI 6RXWKHUQ /LWHUDWXUH HGV /RXLV 5XELQ -U HW DO %DWRQ 5RXJH /RXLVLDQD 6WDWH 8QLYHUVLW\ 3UHVV f SS IRU YDULRXV DFFRXQWV RI SRVWEHOOXP 6RXWKHUQ ZULWLQJ :LOOLDPVnV WHUP NQRZDEOH FRPPXQLWLHV FDQ SURILWDEO\ EH FRPSDUHG WR %HQHGLFW $QGHUVRQnV WHUP IRU QDWLRQV LPDJLQHG FRPPXQLWLHV )RU $QGHUVRQ QDWLRQV DUH LPDJLQHG EHFDXVH WKH PHPEHUV RI HYHQ WKH VPDOOHVW QDWLRQ ZLOO QHYHU NQRZ PRVW RI WKHLU IHOORZPHPEHUV PHHW WKHP RU HYHQ KHDU RI WKHP \HW LQ WKH PLQGV RI HDFK OLYHV WKH LPDJH RI WKHLU FRPPXQLRQ f 7KLV LPDJLQHG IHOORZVKLS DOORZV WKH FUHDWLRQ RI NQRZDEOH FRPPXQLWLHV LQ WKDW JLYHQ WKH ODFN RI IDPLOLDULW\ WKDW PHPEHUV RI D QDWLRQ KDYH ZLWK HDFK RWKHU ILFWLRQDOL]HG KLVWRULHV DQG ODQGVFDSHV ZRUN WR FUHDWH D VHQVH RI FRPPXQLW\ WKDW DOORZV LQGLYLGXDOV WR ELQG WKHPVHOYHV WRJHWKHU :LOOLDPVnV GLVFXVVLRQ RI NQRZDEOH FRPPXQLWLHV WKHQ LGHQWLILHV RQH RI WKH FKLHI PHFKDQLVPV LQ WKH FUHDWLRQ RI QDWLRQ 0RUHRYHU LW LGHQWLILHV WKH IDFW WKDW WKH DFWXDOLWLHV RI YDULRXV JURXSV LQ WKH FDVH RI *HRUJH (OLRW FRXQWU\ SHRSOH LQ WKH FDVH RI 6RXWKHUQ ZKLWH ORFDO FRORULVWV OLNH .DWH &KRSLQ EODFNVf PXVW EH VDFULILFHG HUDVHG RU DW WKH YHU\ OHDVW GLVWRUWHG LQ RUGHU WR FUHDWH DQ LPDJLQHG FRPPXQLW\ 6HH $QGHUVRQ ,PDJLQHG &RPPXQLWLHV /RQGRQ 9HUVR %RRNV SDUWLFXODUO\ SS 7KH GHVLUH IRU D UHWXUQ WR VXFK D SDVW GLG QRW PDQLIHVW LWVHOI RQO\ LQ ORFDO FRORU ILFWLRQ ,Q WKH 1RYHPEHU LVVXH RI 1RUWK $PHULFDQ 5HYLHZ /RXLVLDQD KLVWRULDQ &KDUOHV *D\DUUH ODPHQWHG WKH SDVVLQJ RI WKH VODYHPDVWHU UHODWLRQVKLS EHFDXVH EODFNV KDG JDLQHG PXFK IURP ZKLWHV

PAGE 195

,Q WKH 6RXWK WKH SRSXODWLRQ ZDV GLYLGHG LQWR WZR SDUWVf§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f $V IUHH SHRSOH EODFNV KDG WR VHHN WKHLU RZQ UHSXWDWLRQ DQG VRFLDO SODFH DQG IRU *D\DUUH HPDQFLSDWLRQ KDV PDGH WKH WZR UDFHV PRUH GLVWLQFW DQG DQWDJRQLVWLF f *D\DUUH DGYRFDWHG D UHWXUQ WR ZKLWH VXSUHPDF\ LQ RUGHU WR SURWHFW EODFNV ZKR >GLG@ QRW NQRZ ZKDW RIIHUHG FDSDFLW\ ILWQHVV RU DGDSWDWLRQ PHDQV f 6HH *D\DUUH 7KH 6RXWKHUQ 4XHVWLRQ LQ 1RUWK $PHULFDQ 5HYLHZ &;;9 1RYHPEHU f &KRSLQ GLUHFWO\ FRQIURQWV 6WRZH LQ $W )DXOW $V 7KHUHVH /D)LUPHnV QHSKHZ *UHJRLUH H[SODLQV VRPH RI WKH OHJHQGV RI 3ODFH'X%RLV WR 'DYLG +RVPHUnV VLVWHU 0HOLFHQW KH PHQWLRQV RQH RI WKH IRUPHU RZQHUV RI WKH SODQWDWLRQ 0DF)DUODQH DQG KLV UHSXWDWLRQ 7KH PHDQHVW ZnLWH PDQ WKHW HYHU OLYHG VHHPV OLNH 8VHG WR RZQ WKLV SODFH ORQJ EHIRn WKH /DILUPHV JRW LW 7KH\ VD\ KHn V WKH SHUVRQ WKDW 0UV :n DWn V KHU QDPH ZURWH DERXW LQ 8QFOH 7RPnV &DELQ f 0DF)DUODQHnV SUHYLRXV RZQHUVKLS JHWV VHW LQ FRQWUDVW WR 7KHUHVHnV PRUH OHLVXUHO\ PRGHO RI PDQDJHPHQW WKH PRGHO RI WKH 6RXWK WKDW &KRSLQ ZLVKHV WR FLUFXODWH WR UHIXWH 0UV :DWnV KHU QDPH 5REHUW $UQHU VXJJHVWV WKDW WKLV UHIHUHQFH VKRZV &KRSLQ JUDSSOLQJ ZLWK JXLOW RYHU WKH EUXWDOLW\ RI WKH 6RXWKHUQ SDVW $ JXLOW WKDW KDV QRW EHHQ H[SLDWHG DQG WKDW WUDQVIRUPV WKH ZLOGHUQHVV LQWR DQ RYHUULSH DQG WHUULI\LQJ ZDVWHODQG >WKDW@ EURRGV RYHU WKH 6RXWKHUQ ODQGVFDSH $UQHU f
PAGE 196

+HOHQ 7D\ORU H[SDQGV RQ WKLV SRLQW ZKHQ VKH GLVFXVVHV WKH ZD\ LQ ZKLFK EODFN FKDUDFWHUV LQ $W )DXOW XOWLPDWHO\ UHFHGH LQWR WKH EDFNJURXQG RI WKH QRYHO %\ WKH QRYHOnV FRQFOXVLRQ WKH EODFN FKDUDFWHUV KDYH DOO UHWUHDWHG LQWR TXDLQW SHUVSHFWLYH D EDFNJURXQG WR IUDPH WKH ZKLWH PDUULDJH WKDW UHVWRUHV VRFLDO RUGHU DQG D UDFLDO KDUPRQ\ WKDW GHSHQGV RQ WKH VSHHFKOHVVQHVV RI WKH EODFN FRPPXQLW\ f 7KDW VSHHFKOHVVQHVV LQ IDFW JHWV HQIRUFHG WKURXJKRXW WKH HQWLUH QRYHO 7D\ORU DVVHUWV WKDW WKH SDWURQL]LQJ DWWLWXGH WRZDUG EODFNV FDQ EH FRQQHFWHG WR WKH DWWLWXGHV RI 1RUWKHUQHUV OLNH +RVPHU DQG WKDW 7KHUHVH DGRSWV VXFK DQ DWWLWXGH DIWHU KHU PDUULDJH %XW 7KHUHVHnV RZQ GHPHDQRU WHQGV WR EH LPSHULRXV DQG WKH RUJDQL]DWLRQ RI WKH ODQGVFDSH DW 3ODFH'X%RLV ZRXOG DUJXH UHIOHFWV DQ DQWHEHOOXP 6RXWKHUQ DWWLWXGH WRZDUG EODFNV WKDW LV VKDUHG E\ 1RUWKHUQHUV OLNH +RVPHU 6HH 7D\ORU *HQGHU 5DFH DQG 5HJLRQ LQ WKH :ULWLQJV RI *UDFH .LQJ 5XWK 0F(QHU\ 6WXDUW DQG .DWH &KRSLQ %DWRQ 5RXJH /RXLVLDQD 6WDWH 8QLYHUVLW\ 3UHVV f SS 7KH WDPLQJ RI WKH UDFLDO RWKHU LQ &KRSLQnV QRYHO IROORZV D SDWWHUQ GRFXPHQWHG E\ 7RQL 0RUULVRQ LQ YDULRXV WH[WV RI $PHULFDQ OLWHUDWXUH 0RUULVRQ FDOOV WKLV UHSUHVVLRQ WKH V\FRSKDQF\ RI ZKLWH LGHQWLW\ DVVHUWLQJ WKDW IRU ZKLWHV WR HQMR\ IXOO\ WKHLU IUHHGRP WKH\ QHHGHG D SRSXODWLRQ RI XQIUHH WR GLVSODFH WKHLU DQ[LHWLHV RQWR &RPPHQWLQJ RQ WKH HIIHFW RI $IULFDQ VODYHU\ RQ WKH JHQUH RI URPDQFH 0RUULVRQ DUJXHV %ODFN VODYHU\ HQULFKHG WKH FRXQWU\nV FUHDWLYH SRVVLELOLWLHV )RU LQ WKDW FRQVWUXFWLRQ RI EODFNQHVV DQG HQVODYHPHQW FRXOG EH IRXQG QR RQO\ WKH QRWIUHH EXW DOVR ZLWK WKH GUDPDWLF SRODULW\ FUHDWHG E\ VNLQ FRORU WKH SURMHFWLRQ RI WKH QRWPH 7KH UHVXOW ZDV D SOD\JURXQG IRU WKH LPDJLQDWLRQ :KDW URVH XS RXW RI FROOHFWLYH QHHGV WR DOOD\ LQWHUQDO IHDUV DQG WR UDWLRQDOL]H H[WHUQDO H[SORLWDWLRQ ZDV DQ $PHULFDQ $IULFDQLVPf§D IDEULFDWHG EUHZ RI GDUNQHVV RWKHUQHVV DODUP DQG GHVLUH WKDW LV XQLTXHO\ $PHULFDQ f $V ZKLWH 6RXWKHUQHUV LQ WKH DIWHUPDWK RI WKH &LYLO :DU WULHG WR UHNLQGOH 6RXWKHUQ QDWLRQDOLVP WKH\ UHVRUWHG WR D YHUVLRQ RI $PHULFDQ $IULFDQLVP )UHH EODFNV FOHDUO\ HPERGLHG UHFXUULQJ SURRI RI 6RXWKHUQ GHIHDW LQ ZDU 0RUHRYHU WKH IUHHGRP DFFRUGHG EODFNV ZRUNHG WRZDUG HUDVLQJ WKH PHQRW PH GLFKRWRP\ EHWZHHQ EODFNV DQG ZKLWHV 7KHUHVHnV VHUYDQWV UHSUHVHQW ERWK DQ HIIRUW WR DOOD\ LQWHUQDO IHDUV E\ VXEGXLQJ DQ\ GLVUXSWLYH SROLWLFDO FRPSRQHQW WR EODFNQHVV DQG D UDWLRQDOL]DWLRQ IRU H[WHUQDO H[SORLWDWLRQf§+LUDP DQG %HWV\ LW VHHPV DUH IDU EHWWHU RII RQ 3ODFH'X%RLV ZKHUH WKHLU

PAGE 197

OLYHV DUH UHODWLYHO\ HDV\ WKDQ RXW LQ WKH ZRUOG ZKHUH WKH\ FRXOG EH KDUPHG RU WDNHQ DGYDQWDJH RI 6HH 0RUULVRQ 3OD\LQJ LQ WKH 'DUN 1HZ
PAGE 198

H[SHQGDEOH f :KLOH HYLGHQFH RI &KRSLQnV GLVGDLQ IRU +RVPHU DQG 7KHUHVHnV VFKHPH VHHPV VSRWW\ LQ WKH WH[W WKRXJK VKH GLG ZULWH DQ H[SODQDWRU\ OHWWHU WR RQH RI $W )DXOWnV FULWLFV TXRWHG ODWHU LQ WKH FKDSWHU FRQGHPQLQJ 7KHUHVHnV HIIRUWV WR SOD\ *RG ZLWK WKH OLYHV RI +RVPHU DQG )DQQ\f WKH XQHDVH WKDW )DQQ\nV GHDWK SURGXFHV LV LQ P\ MXGJPHQW GLUHFWO\ UHODWHG WR WKH XQHDVH &KRSLQ IHHOV FRQIODWLQJ KHU XOWLPDWH IDWH ZLWK WKDW RI D EODFN ZRPDQ 6HH +RWFKNLVV &RQIXVLQJ WKH ,VVXH :KRnV n$W )DXOWn" /RXLVLDQD /LWHUDWXUH 6SULQJ f )RU FRPSRVLWLRQ DQG SXEOLFDWLRQ KLVWRU\ RI 5HG 5RFN VHH :D\QH 0L[RQ 6RXWKHUQ :ULWHUV DQG WKH 1HZ 6RXWK 0RYHPHQW &KDSHO +LOO 8QLYHUVLW\ RI 1RUWK &DUROLQD 3UHVV S f*URXSLQJ &DEOH ORQJ FRQVLGHUHG D OLEHUDO 6RXWKHUQHU ZLWK 3DJH ZKR FOHDUO\ VRXJKW WR SURWHFW 6RXWKHUQ FRQVHUYDWLYH WUDGLWLRQV PLJKW VHHP ZURQJKHDGHG
PAGE 199

&DEOH KHLJKWHQHG VXFK VXVSLFLRQV E\ PRYLQJ KLV IDPLO\ QRUWK WR &RQQHFWLFXW LQ -XO\ 0\ ZLIHnV KHDOWK DQG P\ RZQ VXSHULRU ZRUNLQJSRZHU ZHUH WKH LQGXFHPHQWV WKDW OHG WR WKH FKDQJH RI UHVLGHQFH &DEOH KLPVHOI DVVHUWHG %LNOH f 6LJQLILFDQWO\ LQ HDUO\ &DEOH KDG ZULWWHQ DQ HVVD\ HQWLWOHG 0\ 3ROLWLFV LQ ZKLFK KH WULHG WR GHIHQG KLV 6RXWKHUQ KHULWDJH ,Q LW &DEOH GHWDLOHG KLV RZQ UHFRUG RI OR\DOW\ WR WKH &RQIHGHUDF\ +LV SROLWLFDO EHOLHIV DW WKH WLPH RI VHFHVVLRQ PDWFKHG WKRVH RI DQ\ WUXH 6RXWKHUQHU $W VL[WHHQ ZDV IRU 8QLRQ 6ODYHU\ DQG D :KLWH 0DQnV *RYHUQPHQW 6HFHVVLRQ ZKHQ LW FDPH VHHPHG D GUHDGIXO WKLQJ DQG ZRQGHUHG DW PHQ DQG ZRPHQ HYHQ LI LW ZDV D QHFHVVLW\ UHMRLFLQJ LQ LW
PAGE 200

&DEOHn V ZKLWH PHQ PXVW EH LQ FRQWURO 7KH\ PXVW GRPLQDWH DQG WUDQVIRUP WKH ODQG DQG PXVW VXEMXJDWH WKH ZDWHUnV SRZHU IRU WKHLU RZQ SXUSRVHV 7KH\ VXFFHVVIXOO\ FRQWDLQ RU LJQRUH WKH SULPLWLYH YLROHQW IRUFH UHSUHVHQWHG E\ ZDWHU f 0HQNH FRQWUDVWV WKH ODQG ZKLFK VKH VXJJHVWV &DEOH SHUFHLYHV DV UHDGLO\ DYDLODEOH IRU PDOH GRPLQDWLRQ DQG FRQWURO ZLWK WKH ZDWHU ZKLFK LQ LWV IOXLGLW\ UHSUHVHQWV FKDRV WKH SRWHQWLDOO\ GLVDVWURXV UHVXOWV RI D GLVRUGHUHG VRFLHW\ f ,QGHHG HDUO\ LQ WKH QRYHO -RKQ WULHV WR GHYHORS D SODQ RI FRORQL]DWLRQ IRU :LGHZRRG ZKLFK ZRXOG DOORZ KLP WR GHYHORS WKH SURSHUW\ +DYLQJ ORVW KLV ODQG -RKQ WXUQV KLV DWWHQWLRQ WRZDUG %DUEDUD *DUQHW UHSUHVHQWHG LQ WKH QRYHO DV DQRWKHU 6RXWKHUQ UHVRXUFH -RKQnV UHDFTXLVLWLRQ RI KLV ODQG DV ZHOO DV VRPH DGGLWLRQDO WHUULWRU\f ZLWK KLV PDUULDJH WR %DUEDUD QRW RQO\ UHLQIRUFHV WKH FRQIODWLRQ RI IHPDOH DQG ODQG EXW DOVR JLYHV &DEOH DQRWKHU YHQXH IRU HPSKDVL]LQJ -RKQnV DQG KLV RZQf 6RXWKHUQQHVVf§D 6RXWKHUQ PDQ ZLQV WKH KDQG RI D 6RXWKHUQ ZRPDQ IURP D 1RUWKHUQ PDQ QR OHVVf DQG UHDFTXLUHV KLV 6RXWKHUQ SDWULPRQ\ XSRQ ZKLFK KH LQWHQGV WR UHGHSOR\ 6RXWKHUQ YDOXHV 6HH 0HQNH &KRSLQnV 6HQVXDO 6HD DQG &DEOHnV 5DYLVKHG /DQG 6H[WV 6LJQV DQG *HQGHU 1DUUDWLYH &URVV 5RDGV $ -RXUQDO 2I 6RXWKHUQ &XOWXUH )DOO:LQWHU f

PAGE 201

&+$37(5 <28 &$1n7 .,// 0( %87 21&( 7+( &+$//(1*( 2) $)5,&$1$0(5,&$1 7(;78$/,7< (DUO\ LQ )UDQFHV +DUSHUn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f 7KH JHQHUDO UHFRJQL]HV WKDW ZKDW GLIIHUHQWLDWHG KLP IURP ,ROD WKH FKLOG RI D OHJDOO\ EODFN PRWKHU DQG D ZKLWH IDWKHUf ZDV KLV $PHULFDQ FLWL]HQVKLS /DFNLQJ VXFK D UHFRXUVH ,ROD EHFDPH VLPSO\ DQRWKHU ERG\ EUXWDOL]HG E\ 6RXWKHUQ QDWLRQDOLVP UXOHG RYHU E\ YDULRXV ZKLWH W\UDQWV ZKR SHUFHLYHG WKHPVHOYHV WR EH VXSHULRU +DUSHU WKXV VNHWFKHV RXW ERWK WKH FDXVH RI WKH SUHYLRXV RSSUHVVLRQ RI EODFNV DQG WKH VROXWLRQ IRU HQGLQJ VXFK RSSUHVVLRQf§IXOO $PHULFDQ FLWL]HQVKLS *XDUDQWHHG FLWL]HQVKLS E\ WKH WK $PHQGPHQW $IULFDQ$PHULFDQV ZLWQHVVHG WKH HURVLRQ

PAGE 202

RI WKHLU FLYLO ULJKWV ,ROD /HUR\ ZDV SXEOLVKHG LQ WKH VDPH \HDU WKDW O\QFKLQJV RI EODFN PHQ UHDFKHG WKHLU SHDN +DYLQJ KDG WKH SROLWLFDO JDLQV RI 5HFRQVWUXFWLRQ UROOHG EDFN $IULFDQ $PHULFDQV QHHGHG QHZ VWUDWHJLHV IRU SROLWLFDO HPSRZHUPHQW 7KURXJK WKH SHUVRQ RI ,ROD /HUR\ +DUSHU WULHG WR LPSDUW VXFK VWUDWHJLHV $OVR ZULWLQJ LQ 7KRPDV 1HOVRQ 3DJH SXEOLVKHG D VKRUW XQWLWOHG VNHWFK LQ WKH 6HSWHPEHU +DUSHUnV 1HZ 0RQWKO\ 0DJD]LQH 6HW LQ WKH SRVWZDU 6RXWK WKH VWRU\ GHSLFWHG WKH HGXFDWLRQ RI WKH PDLQ FKDUDFWHU 8QFOH -DFN 6FRWW D IRUPHU VODYH $JDLQVW KLV HPSOR\HUnV ZLVKHV 8QFOH -DFN OHDYHV KLV MRE LQ WKH VWDEOH RI &RORQHO 7ULJJnV SODQWDWLRQ IRU DQ RSSRUWXQLW\ LQ WKH FODVVURRP +RZHYHU 8QFOH -DFN MXVW DV TXLFNO\ UHWXUQV WR WKH VWDEOH DIWHU EHLQJ ZKLSSHG E\ WKH VFKRROPLVWUHVV 0LVV %DUU IRU QRW OHDUQLQJ KLV JUDPPDU OHVVRQV JRW nQRXJK HGLFDWLRQ -DFN WHOOV KLV PDVWHU WHOO \RX GH IDFn 0DUVH &RQQ LV WRR ROH WR EH ZKXSW E\ D RRPDQ DQn D SRn ZKLWH RRPDQ DW GDW f 8QFOH -DFNnV HGXFDWLRQ SURYHV WR EH PRUH SDLQIXO WKDQ KLV IRUPHU VHUYLWXGH DQG KH EULVWOHV WRR DW WKH JHQGHU DQG FODVV EDUULHUV YLRODWHG E\ KLV H[SHULHQFH LQ WKH FODVVURRP (QFRXUDJHG WR JR E\ KLV FLWLILHG ZLIH 8QFOH -DFN SUHIHUV WR UHVWRUH WKH ROG SUHZDU UHODWLRQVKLS ZLWK &RORQHO 7ULJJ DQG IRUHJR OHDUQLQJ KRZ WR UHDG $W WKH HQG RI WKH VWRU\ 8QFOH -DFNnV KRVWLOLW\ WR HGXFDWLRQ PDQLIHVWV LWVHOI LQ D VKRUW FRQYHUVDWLRQ ZLWK KLV

PAGE 203

VRQ -RKQQLH ,QIRUPHG E\ -RKQQLH WKDW 0LVV %DUU KDV RUGHUHG DOO RI KHU VWXGHQWV WR SXUFKDVH D JHRJUDSK\ WH[WERRN 8QFOH -DFN KHVLWDWHV IRU D PRPHQW DQG WKHQ RIIHUV D GLIIHUHQW UHDGLQJ PDWHULDO VD\ ER\ \RX WHOO GH WHDFKHU VD\ \RX EHWWHU VWLFN WR \RXn DE DEV DQn \RXn HE HEV DQn OHW JHRJnDSK\ DORQH
PAGE 204

-DFN 6FRWW SRVVHVVHV RQO\ D NQRZOHGJH RI KRZ WR PRYH LQ WKH JHRJUDSK\ RI &RORQHO 7ULJJnV SODQWDWLRQ +LV PRYHPHQWV DUH FRQGLWLRQHG E\ WKH ZRUN KH PXVW GRf§DW WKH VSULQJ WKH ZRRGSLOH WKH PLOO DQG WKH FRUQILHOG )DU IURP EHLQJ DQ HOHPHQW WKDW SURPRWHV KLV RZQ QDUUDWLYL]DWLRQ WKH JHRJUDSK\ WKDW 8QFOH -DFN NQRZV FRQILQHV KLP
PAGE 205

OLWHUDWXUH WR ZKLWH ZULWHUV EODFNV ORVW RXW RQ RSSRUWXQLWLHV IRU VHOIH[SUHVVLRQ DQG OHJLWLPDWLRQ LQ WKH H\HV RI DQ LQFUHDVLQJO\ VNHSWLFDO SUHGRPLQDQWO\ ZKLWH UHDGLQJ SXEOLF 7KXV LQ ZULWLQJ WKHLU UHVSHFWLYH QRYHOV +DUSHU &KHVQXWW DQG *ULJJV KDG D SHGDJRJLFDO PRWLYH LQ PLQG WRRf§UHIXWLQJ WKH VWHUHRW\SHV VR GHHSO\ HPEHGGHG LQ WKH QDWLRQDO FRQVFLRXVQHVV DQG LQ GRLQJ VR PDNLQJ D FRKHUHQW FDVH IRU $IULFDQ$PHULFDQ LQWHJUDWLRQ LQWR PDLQVWUHDP $PHULFDQ VRFLHW\ 3DJHnV H[DPSOH RI 8QFOH -DFN 6FRWW VKRZV KLV GHVLUH WR UHWXUQ WR DQ DQWHEHOOXP RUJDQL]DWLRQ RI WKH QDWLRQf§ZKLWHV IXOO\ LQ FKDUJH RI WKH PHDQV RI SURGXFWLRQ HFRQRPLF DV ZHOO DV FXOWXUDO ZLWK EODFNV LQKDELWLQJ DQ LQIHULRU VRFLDO SRVLWLRQ GHSHQGHQW XSRQ WKHLU VXSHULRUV 3DJH IROORZV WKURXJK RQ WKLV LGHD RI VRFLDO RUGHU LQ 5HG 5RFN H[SHOOLQJ EODFNV DQG SRRU ZKLWHV IURP WKHLU LOOJRWWHQ SRVLWLRQV RI SRZHU DFTXLUHG GXULQJ 5DGLFDO 5HFRQVWUXFWLRQ DQG UHWXUQLQJ WKH ODQGHG DULVWRFUDF\ WR LWV UXOH
PAGE 206

DGYRFDWHV WKH 6RXWKHUQ QDWLRQ DV DQ DSSURSULDWH PRGHO IRU WK FHQWXU\ $PHULFDQ QDWLRQKRRG WKH RQO\ PRGHO LQ IDFW WKDW FRXOG SURWHFW WKH LQWHJULW\ RI WKH ZKLWH UDFH DQG WKH LQVWLWXWLRQV WKDW UDFH KDG FUHDWHG WR UXOH ZLWK 7KH FRPSHWLWLRQ EHWZHHQ WKHVH WZR YLVLRQV RI $PHULFDQ QDWLRQKRRG FRXOG KDUGO\ EH FDOOHG IDLU 7KH 6XSUHPH &RXUWnV GHFLVLRQ LQ 3OHVVY Y )HUJXVRQ LQ FRPSOHWHG WKH SROLWLFDO GLVHPSRZHUPHQW RI EODFNV EHJXQ LQ ZLWK WKH &RXUWn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f )RU QHRSODQWDWLRQ ZKLWH ZULWHUV EODFN GLG QRW TXDOLI\ DV FLWL]HQV +RZHYHU SDWHQWO\ IDOVH VXFK UHSUHVHQWDWLRQV RI IUHH EODFNV PLJKW EH WKH\ KHOSHG WR SURGXFH D NQRZOHGJH DERXW

PAGE 207

$IULFDQ$PHULFDQV WKDW FRUUHVSRQGHG WR WKH LQFUHDVLQJ KRVWLOLW\ LQ WKH FRXUWV DQG LQ SXEOLF RSLQLRQ WR FLYLO ULJKWV SURWHFWLRQ IRU WKH IRUPHU VODYHV $V 7RXUJHH VXPPHG XS $ERXW WKH 1HJUR DV D PDQ ZLWK KRSHV IHDUV DQG DVSLUDWLRQV OLNH RWKHU PHQ RXU OLWHUDWXUH LV YHU\ QHDUO\ VLOHQW f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nQKHDG :LOVRQ IRU LQVWDQFHf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f %\ DGGLQJ WKHLU YRLFHV WKHVH $IULFDQ$PHULFDQ ZULWHUV KRSH WR VXEYHUW WKH UDFLVW ORJLF RI $ LV RSSRVHG WR % +DUSHU DQG

PAGE 208

&KHVQXWW JR VR IDU DV WR HPSOR\ PXODWWRHV DV WKHLU UHVSHFWLYH PDLQ FKDUDFWHUV GLUHFWO\ SRLQWLQJ DW WKH PLVFHJHQDWLRQ SUDFWLFHG E\ ZKLWH VODYHKROGHUV EXW ZKLFK KDG EHHQ FRQYHQLHQWO\ IRUJRWWHQ E\ UDELG VHJUHJDWLRQLVWV 6HJUHJDWLRQLVWV LQVLVWHG WKDW ZKLWH PDQnV JRYHUQPHQWf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f *UDG\ IHDUHG WKDW fDPDOJDPDWLRQf PLJKW IXHO D QHZ FLYLO ZDU RQH WR EH IRXJKW DORQJ UDFLDO UDWKHU WKDQ UHJLRQDO OLQHV )RU VHJUHJDWLRQLVWV OLNH *UDG\ WKH KHDOWK DQG YLDELOLW\ RI WKH QDWLRQ UHJXLUHG WKH SXULW\ RI f$QJOR6D[RQ EORRGf 7KH VXSSOHPHQWDO IXQFWLRQ RI $IULFDQ$PHULFDQ WH[WXDOLW\ SXW LQWR TXHVWLRQ WKH QHZO\ SODFHG ERXQGDULHV RI WKH QDWLRQ E\ SURYLGLQJ D YLDEOH DOWHUQDWLYH SROLWLFDO YRLFH RULJLQDWLQJ IURP WKH fRXWVLGHf 7KHVH WH[WV UHVLVWHG WKH DWWHPSW WR LPSOHPHQW UDFLDO ERUGHUV WKDW ZRXOG GHILQH WKH $PHULFDQ QDWLRQ

PAGE 209

DV QHFHVVDULO\ ZKLWH +RPL %KDEKD H[WUDSRODWLQJ IURP WKH LGHD RI 'HUULGHDQ VXSSOHPHQWDULW\ SRLQWV RXW WKDW D QDWLRQ EHFDXVH LW LV XVXDOO\ GHILQHG DV WKH QHJDWLRQ RI DQRWKHU VSDFH QHHGV D KRPRJHQHRXV QDUUDWLYH WKDW VSHDNV ZLWK RQH YRLFH &RXQWHUQDUUDWLYHV RI WKH QDWLRQ WKDW FRQWLQXDOO\ HYRNH DQG HUDVH LWV WRWDOL]LQJ ERXQGDULHVf§ERWK DFWXDO DQG FRQFHSWXDOf§GLVWXUE WKRVH LGHRORJLFDO PDQRHXYUHV WKURXJK ZKLFK LPDJLQHG FRPPXQLWLHV DUH JLYHQ HVVHQWLDOLVW LGHQWLWLHV )RU WKH SROLWLFDO XQLW\ RI WKH QDWLRQ FRQVLVWV LQ D FRQWLQXDO GLVSODFHPHQW RI LWV LUUHGHHPDEO\ SOXUDO PRGHUQ VSDFH ERXQGHG E\ GLIIHUHQW HYHQ KRVWLOH QDWLRQV LQWR D VLJQLI\LQJ VSDFH WKDW LV DUFKDLF DQG P\WKLFDO SDUDGR[LFDOO\ UHSUHVHQWLQJ WKH QDWLRQnV PRGHUQ WHUULWRULDOLW\ LQ WKH SDWULRW DWDYLVWLF WHPSRUDOLW\ RI 7UDGLWLRQDOLVP 4XLWH VLPSO\ WKH GLIIHUHQFH RI VSDFH UHWXUQV DV WKH 6DPHQHVV RI WLPH WXUQLQJ 7HUULWRU\ LQWR 7UDGLWLRQ WXUQLQJ WKH 3HRSOH LQWR 2QH %KDEKD f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f§ZKLWH UDFLDO VXSHULRULW\f§ZDV JHWWLQJ HUDVHG

PAGE 210

,Q IDFW 7KRPDV 'L[RQ VHHPV WR KDYH XQGHUVWRRG WKH QHFHVVLW\ RI XQLI\LQJ WKH ZKLWH UDFH WR VXVWDLQ WKH LGHD RI WKH 6RXWKHUQ QDWLRQ 7KH /HRSDUGn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nV OLIH 7KHUH LV HQRXJK 1HJUR EORRG KHUH WR PDNH PXODWWR WKH ZKROH 5HSXEOLF 'L[RQ 7KH /HRQDUGnV 6SRWV f 'XUKDPnV VROXWLRQ WR WKH HURVLRQ RI UDFLDOQDWLRQDO ERXQGDULHV LV VLPSOHVHSDUDWH WKH UDFHV LQWR WZR GLIIHUHQW QDWLRQV &DQ \RX ESLOG LQ D 'HPRFUDF\ D QDWLRQ LQVLGH D QDWLRQ RI WZR KRVWLOS UDFHV" 'XUKDP DVNV UKHWRULFDOO\ :H PXVW GR WKLV RU EHFRPH PXODWWR DQG WKDW LV GHDWK f :KHQ &KDUOLH *DVWRQ DQQRXQFHV DV KLV SROLWLFDO SODWIRUP WKH UHVWRUDWLRQ RI D ZKLWH PDQnV JRYHUQPHQW KH XQLWHV WKH $QJOR6D[RQ UDFH $JDLQ WKH $QJOR6D[RQ UDFH ZDV IXVHG LQWR D VROLG PDVV 7KH UHVXOW >RI WKH HOHFWLRQ@ ZDV D IRUHJRQH FRQFOXVLRQ f 'L[RQ WKXV ZRUNV WR UHVWRUH WKH QDUUDWLYH RI QDWLRQ WKDW SRVLWV HVVHQWLDOLVW LGHQWLWLHV DQG WUDQVIRUPV 7HUULWRU\ LQWR 7UDGLWLRQ DQG IXVHV WKH 3HRSOH LQWR 2QH &DOOLQJ RQ WKH UDFLVW SUHGLVSRVLWLRQ RI WKH FRXQWU\ DQG LQ

PAGE 211

IDFW FLWLQJ WKH PLQLQJ RI WKH 0DLQH DV WKH KLVWRULFDO PRPHQW ZKHQ WKH GLVSDUDWH IDFWLRQV RI WKH ZKLWH UDFH UHXQLWHGf 'L[RQ DWWHPSWV WR H[WHQG 6RXWKHUQ QDWLRQDOLVP WR WKH ZKROH QDWLRQ PDNLQJ WKH SROLWLFDO DV ZHOO DV WKH OLWHUDU\ UHDOP &RQIHGHUDWH LQ V\PSDWK\ 7KRXJK RWKHU ZULWHUV MRLQHG KLP QRQH ZDV DV ZLOGO\ SRSXODU DV 'L[RQ 7KURXJK WKH VXFFHVV RI 7KH /HRSDUGnV 6RRWV DQG 7KH &ODQVPDQ ERWK VHOOLQJ RYHU D PLOOLRQ FRSLHVf DV ZHOO DV : *ULIILWKnV SRSXODU %LUWK RI D 1DWLRQ EDVHG RQ 'L[RQn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

PAGE 212

RQ WKH SURSHU SODFH RI WKH $IULFDQ $PHULFDQ DQG ZKHWKHU WKH ODWWHU SRUWLRQ RI WKH DSSHOODWLRQ KDG DQ\ PHDQLQJ ZKDWVRHYHU 5HDGLQJ /HVVRQV )UDQFHV +DUSHU DQG &KDUOHV : &KHVQXWW ([FHSW IRU D IRXUWK YHUVLRQ RI R GHFDGHV DIWHU WKH &LYLO :DU %HOO f %HJLQQLQJ LQ WKH PLGnV DQG FRQWLQXLQJ WKURXJK WKH WXUQ RI WKH FHQWXU\ PDMRU QRYHOV E\ SURPLQHQW EODFN ZULWHUV GLG JHW SXEOLVKHG 7KHVH QRYHOV ZHUH PRUH WKDQ UHVSRQVHV WR WKH ZULWLQJV RI ZKLWH QRYHOLVWV 7KH\ FRQVWLWXWHG VSHFLILF HIIRUWV RQ WKH SDUW RI EODFNV WR LQVLQXDWH WKHPVHOYHV LQWR WKH QDUUDWLYH RI QDWLRQ %\ GHWDLOLQJ ERWK WKH IORXULVKLQJ $IULFDQ$PHULFDQ FXOWXUH DQG WKH HIIRUWV RQ WKH SDUW RI ZKLWHV WR VXSSUHVV NQRZOHGJH RI WKDW FXOWXUH EODFN ZULWHUV PDGH WKH FDVH IRU WKHLU UDFHnV ULJKW WR FLWL]HQVKLS +D]HO &DUE\ EHJLQV KHU DQDO\VLV RI )UDQFHV +DUSHUn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f

PAGE 213

&DUE\n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nV &RQJUHVV RI 5HSUHVHQWDWLYH :RPHQ LQ &KLFDJR LQ 0D\ +DUSHU WROG KHU DXGLHQFH WKDW ZRPHQ QHHGHG SROLWLFDO SRZHU EHFDXVH WKH\ KDG D SHGDJRJLFDO IXQFWLRQ WR SHUIRUP IRU WKH QDWLRQ ,Q FRPLQJ LQWR KHU SROLWLFDO HVWDWH ZRPDQ ZLOO ILQG D PDVV RI LOOLWHUDF\ WR EH GLVSHOOHG ,I NQRZOHGJH LV SRZHU LJQRUDQFH LV DOVR SRZHU 7KH SRZHU WKDW HGXFDWHV ZLFNHGQHVV PD\ PDQLSXODWH DQG GDVK DJDLQVW WKH SLOODUV RI DQ\ VWDWH ZKHQ WKH\ DUH XQGHUPLQHG DQG KRQH\FRPEHG E\ LQMXVWLFH +DUSHU :RPDQnV 3ROLWLFDO )XWXUH f +DUSHU UHFRJQL]HG WKDW LOOLWHUDF\ SRVHG D PDMRU REVWDFOH WR WKH PRUDO DGYDQFH RI $PHULFD DQG ZLWK WKLV DVVHUWLRQ +DUSHU SURYLGHV DQRWKHU DQVZHU WR WKH JXHVWLRQ :K\ ZULWH D QRYHO" ,Q IRUFLQJ KHU DXGLHQFH WR SDUWLFLSDWH LQ ,ROD /HUR\ E\

PAGE 214

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nV (UUDQG &KHVQXWW SHUFHLYHG WKDW DV D EODFN PDQ ZKR JUHZ XS LQ WKH 6RXWK KH ZDV SRVLWLRQHG WR ZULWH DERXW WKH VDPH PDWHULDO LQ D PRUH DXWKRULWDWLYH ZD\ ,Q D MRXUQDO HQWU\ GDWHG 0D\ &KHVQXWW QRWHG WKDW KLV SXUSRVH LQ ZULWLQJ ZRXOG LQYROYH QRW MXVW PRQH\ EXW VRFLDO FKDQJH DV ZHOO 7KH REMHFW RI P\ ZULWLQJV ZRXOG EH QRW VR PXFK WKH HOHYDWLRQ RI WKH FRORUHG SHRSOH DV WKH HOHYDWLRQ RI WKH ZKLWHVf§IRU FRQVLGHU WKH XQMXVW VSLULW RI FDVWH ZKLFK LV VR LQVLGLRXV DV WR SHUYDGH D ZKROH QDWLRQ DQG VR SRZHUIXO DV WR VXEMHFW D ZKROH UDFH DQG DOO FRQQHFWHG ZLWK LW WR VFRUQ DQG VRFLDO RVWUDFLVPf§, FRQVLGHU WKLV D EDUULHU WR WKH PRUDO SURJUHVV RI WKH $PHULFDQ SHRSOH DQG ZRXOG EH RQH RI WKH ILUVW WR KHDG D GHWHUPLQHG

PAGE 215

RUJDQL]HG FUXVDGH DJDLQVW LW 1RW D ILHUFH LQGLVFULPLQDWH RQVODXJKW QRW DQ DSSHDO WR IRUFH IRU WKLV LV VRPHWKLQJ WKDW IRUFH FDQ EXW VOLJKWO\ DIIHFW EXW D PRUDO UHYROXWLRQ ZKLFK PXVW EH EURXJKW DERXW LQ D GLIIHUHQW PDQQHU &KHVQXWW 7KH -RXUQDOV f /LNH +DUSHU ZLWK KHU VFHQH RI WKH 8QLRQ JHQHUDO TXHVWLRQLQJ WKH YDOXH RI KLV FLWL]HQVKLS &KHVQXWW VDZ UDFLVP DV DIIOLFWLQJ QRW MXVW EODFNV EXW ZKLWHV DV ZHOO +H VWDNHV RXW DV RQH RI KLV JRDOV WKH ZULWLQJ RI ILFWLRQ WKDW FRQGXFHV WR WKH PRUDO SURJUHVV RI WKH $PHULFDQ SHRSOH )DU IURP DGYRFDWLQJ YLROHQW UHYROXWLRQ &KHVQXWW SUHIHUV OLWHUDWXUH DV DQ DJHQW RI VRFLDO FKDQJH EHFDXVH RI LWV DELOLW\ WR HIIHFW VXEWOH LQFUHPHQWDO FKDQJH 7KH QHJURnV SDUW LV WR SUHSDUH KLPVHOI IRU VRFLDO UHFRJQLWLRQ DQG HTXDOLW\ DQG LW LV WKH SURYLQFH RI OLWHUDWXUH WR RSHQ WKH ZD\ IRU KLP WR JHW LWf§WR DFFXVWRP WKH SXEOLF PLQG WR WKH LGHD DQG ZKLOH DPXVLQJ WKHP WR OHDG WKHP RQ LPSHUFHSWLEO\ XQFRQVFLRXVO\ VWHS E\ VWHS WR WKH GHVLUHG VWDWH RI IHHOLQJ I7KH -RXUQDOV f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

PAGE 216

TXRWD RI JRRG FLWL]HQVKLS WR WKH EHVW ZHOIDUH RI WKH QDWLRQ ,/ f /LNH &KHVQXWW +DUSHU ZDQWHG WR DSSHDO WR ERWK EODFN DQG ZKLWH UHDGHUV 6KH ZLVKHV WR LQFXOFDWH D VWURQJHU VHQVH RI MXVWLFH DQG D PRUH &KULVWOLNH KXPDQLW\ LQ ZKLWHV DQG WR HQFRXUDJH $IULFDQ $PHULFDQV WR HPEUDFH HYHU\ RSSRUWXQLW\ GHYHORS HYHU\ IDFXOW\ DQG XVH HYHU\ SRZHU *RG KDV JLYHQ WKHP +HU IXQGDPHQWDO SURMHFW LQYROYHV D UHGHILQLWLRQ RI FLWL]HQVKLS DQG E\ LPSOLFDWLRQ RI QDWLRQ WR LQFOXGH $IULFDQ $PHULFDQV 7KH KLVWRU\ RI WKH WLWOH FKDUDFWHU RI +DUSHUnV QRYHO UHIOHFWV WKH HPEHGGHG WUDGLWLRQV LQ WKH 6RXWK WKDW SUHYHQWHG EODFN FLWL]HQVKLS ,GDnV IDWKHU (XJHQH PDQXPLWV RQH RI KLV VODYHV 0DULH LQ RUGHU WR PDUU\ KHU +LV FRXVLQ $OIUHG /RUUDLQH FKDVWLVHV (XJHQH IRU KLV DQWLVRFLDO EHKDYLRU :K\ (XJHQH ZKDW KDV FRPH RYHU \RX" 7DONLQJ RI WKH YLUWXH RI WKHVH TXDGURRQ JLUOV
PAGE 217

LPPLQHQW DQG DV KH WHOOV 0DULH (XJHQHnV V\PSDWKLHV DUH GLVWLQFWO\ XQ6RXWKHUQ 0\ KHDUW LV ZLWK WKH 8QLRQ GRQnW EHOLHYH LQ VHFHVVLRQ 7KHUH KDV EHHQ QR FDXVH VXIILFLHQW WR MXVWLI\ D UXSWXUH 7KH 1RUWK KDV PHW XV WLPH DQG DJDLQ LQ WKH VSLULW RI FRQFHVVLRQ DQG FRPSURPLVH ;/ f 3HUKDSV XQVXUSULVLQJO\ (XJHQHnV YLHZ GLIIHUV JUHDWO\ IURP /RUUDLQHnV 2QFH DJDLQ (XJHQH JLYHV KLV FRXVLQ UHDVRQ WR IHDU WKDW WKH /HUR\ IDPLO\ UHSUHVHQWV DQ XQDFFHSWDEOH FKDOOHQJH WR WKH QRZ IRUPLQJ 6RXWKHUQ QDWLRQ 7KXV DW (XJHQHnV GHDWK ,ROD DQG KHU IDPLO\ DUH UHFRGHG DV EODFN E\ /RUUDLQH DQG VROG LQWR VODYHU\ /RUUDLQH WHOOV 0DULH WKDW WKH ODZ LV RQ KLV VLGH -XGJH 6WDUNLQV KDV GHFLGHG WKDW \RXU PDQXPLVVLRQ LV XQODZIXO \RXU PDUULDJH D EDG SUHFHGHQW DQG LQLPLFDO WR WKH ZHOIDUH RI VRFLHW\ DQG WKDW \RX DQG \RXU FKLOGUHQ DUH UHPDQGHG WR VODYHU\ ;/ f %\ XVLQJ WKH ODZ /RUUDLQH UHVWRUHV WKH VRFLDO EDODQFH QHFHVVDU\ IRU WKH QHZO\ IRUPHG 6RXWKHUQ QDWLRQ +H VXFFHHGV LQ UHGHSOR\LQJ EODFNQHVV E\ JHWWLQJ 0DULH DQG KHU FKLOGUHQ VROG DV VODYHV GHVSLWH WKH IDFW WKDW DV RQH RI /RUUDLQHnV FRKRUWV DGPLWV RI ,ROD 6KH LV MXVW DV ZKLWH DV ZH DUH DV JRRG DV DQ\ JLUO LQ WKH ODQG DQG EHWWHU HGXFDWHG WKDQ WKRXVDQGV EI ZKLWH JLUOV ;/ f 7KH ODZnV FDSDFLW\ WR UHVLJQLI\ ,ROD DQG KHU IDPLO\ UHSUHVHQWV QRW RQO\ WKH SROLWLFDO GLVHPSRZHUPHQW RI EODFNV LQ WKH 6RXWKHUQ QDWLRQ EXW DOVR WKH WH[WXDO PHFKDQLVPV WKDW FUHDWH WKH SDUDPHWHUV RI UHDGLQJ IRW WKDW QDWLRQ ,ROD DQG KHU IDPLO\ DUH UHDG DV EODFN EHFDXVH RI WKH ODZ WKDW FRQGLWLRQV WKDW UHDGLQJ

PAGE 218

+DUSHU VHHNV WR FKDOOHQJH WKH ODZ E\ JHWWLQJ KHU UHDGHUV WR VHH LWV DUELWUDULQHVV DQG E\ LQIHUHQFH WKH DUELWUDULQHVV RI WKH ERXQGDULHV SXW LQ SODFH E\ WKDW ODZ VXFK DV UDFH DQG QDWLRQ +DUSHU SRLQWV RXW KRZHYHU WKDW WKH 6RXWKHUQ QDWLRQ ZDV QRW DORQH LQ LWV UHDGLQJ RI WKH LQIHULRULW\ RI EODFNQHVV (YHQ LQ WKH 1RUWK OLJKWVNLQQHG EODFNV DUH DGYLVHG WR SDVV DQG DXWKRU WKHPVHOYHV DV ZKLWH ,RODnV 8QFOH 5REHUW -RKQVRQ KDYLQJ HVFDSHG IURP VODYHU\ DQG MRLQHG WKH 8QLRQ DUP\ LV JLYHQ VXFK HQFRXUDJHPHQW E\ KLV FRPPDQGLQJ RIILFHU LQ RUGHU WR JDLQ WKH RSSRUWXQLWLHV WKDW ZLOO EH GHQLHG KLP DV D EODFN PDQ -RKQVRQ VDLG D \RXQJ RIILFHU &DSWDLQ 6\ELO RI 0DLQH ZKR KDG EHFRPH DWWDFKHG WR 5REHUW ZKDW LV WKH XVH RI \RXU VD\LQJ \RXnUH D FRORUHG PDQ ZKHQ \RX DUH DV ZKLWH DV DP DQG DV EUDYH D PDQ DV WKHUH LV DPRQJ XV :K\ QRW TXLW WKLV FRPSDQ\ DQG WDNH \RXU SODFH LQ WKH DUP\ MXVW WKH VDPH DV D ZKLWH PDQ" NQRZ \RXU FKDQFHV IRU SURPRWLRQ ZRXOG EH EHWWHU ;/ f 5REHUW KDV D SODFH ZDLWLQJ IRU KLPf§D SODFH WKDW UHTXLUHV KLP WR GHQ\ KLV EODFNQHVV
PAGE 219

2SSRUWXQLWLHV WR SDVV SUHVHQW WKHPVHOYHV WR RWKHU PHPEHUV RI WKH /HUR\ IDPLO\ ,GDnV EURWKHU +DUU\ OLYLQJ LQ WKH 1RUWK DW WKH WLPH RI KLV IDWKHUnV GHDWK GHFLGHV WR MRLQ WKH 8QLRQ DUP\ DV ZHOO EXW OLNH KLV 8QFOH 5REHUW KH UHIXVHV WR SDVV DV ZKLWH GHVSLWH WKH DGYLFH RI KLV FROOHJH PHQWRU DQG WKH HQOLVWPHQW RIILFHU )RU WKH RIILFHU +DUU\nV LQVLVWHQFH RQ KLV EODFNQHVV LV D QHZ H[SHULHQFH +H KDG VHHQ FRORUHG PHQ ZLWK IDLU FRPSOH[LRQV DQ[LRXV WR ORVH WKHLU LGHQWLW\ ZLWK WKH FRORUHG UDFH DQG SRVH DV ZKLWH PHQ EXW KHUH ZDV D PDQ LQ WKH IOXVK RI KLV HDUO\ PDQKRRG WR ZKRP FRXOG FRPH GUHDPV RI SURPRWLRQ IURP D VLPSOH SULYDWH WR D VXFFHVVIXO JHQHUDO GHOLEHUDWHO\ WXUQLQJ KLV EDFN XSRQ HYHU\ JLOGHG KRSH DQG GD]]OLQJ RSSRUWXQLW\ WR FDVW KLV ORW ZLWK WKH GHVSLVHG DQG KDWHG QHJUR ,, f ,GD WRR KDV KHU FKDQFHV WR SDVVf§WR PDUU\ D SURPLQHQW 1RUWKHUQ GRFWRU WR REWDLQ MREV DQG HDUQ SURPRWLRQV :KDW LV VLJQLILFDQW LV ERWK WKH FRQVLVWHQW UHIXVDO RI WKH /HUR\ IDPLO\ WR SDVV DQG WKH FRQVLVWHQW GHPDQG IURP WKHLU QDWLRQ WKDW LV $PHULFDf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

PAGE 220

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nV LQKHUHQW WUDQVLWLRQDO UDFLDO DQG FODVV VWDWXV WR FRQVWUXFW HPDQFLSDWRU\ UHVRFLDOL]DWLRQ JURXQGHG LQ YLUWXH HGXFDWLRQ DQG KDUG ZRUN 7DWH f 7DWHnV KLVWRULFDO UHDGLQJ SODFHV PXODWWRQHVV DW WKH SRLQW RI WUDQVLWLRQ 7DWH GHQLHV WKDW +DUSHU ZDV PRWLYDWHG WR PDNH ,ROD D PXODWWR LQ RUGHU WR DSSHDO WR ZKLWH UHDGHUV ,QVWHDG ,GDnV FRPPLWPHQW WR VHOI DQG JURXS GHYHORSPHQW WUDQVIRUP>V@ WKH ROG UDFLVW LGHRORJLFDO LPSHUDWLYHV LQWR QHZ VWRULHV RI $IULFDQ$PHULFDQ VXFFHVV f $FFRUGHG HGXFDWLRQDO SULYLOHJHV EHFDXVH RI KHU OLJKW VNLQ ,ROD PDNHV WKH LVVXH RI

PAGE 221

VNLQ FRORU DOPRVW PRRW E\ FKRRVLQJ WR XSOLIW WKH EODFN UDFH UDWKHU WKDQ SDVVLQJ DQG OLYLQJ DV D ZKLWH ZRPDQ 2WKHU FULWLFV DUH QRW DV VDQJXLQH DERXW +DUSHUV XVH RI PXODWWRHV )RU H[DPSOH 9DVKWL /HZLV DUJXHV WKDW +DUSHU XQNQRZLQJO\ SHUSHWXDWHV DQ LPDJH RI EODFN ZRPHQ LQ WKLV FRXQWU\ WKDW VXJJHVWV WKDW WKRVH ZKR KDYH GDUN VNLQ DQG ZKRVH KDLU LV QRW VWUDLJKW DUH QRW RQO\ XJO\ EXW DOVR QHYHU H[SHULHQFH WUDJHG\ LQ WKHLU OLYHV /HZLV f %DUEDUD &KULVWLDQ VXJJHVWV WKDW ZKLWH ZRPHQ FRPSRVHG WKH ODUJHVW VHJPHQW RI +DUSHUnV UHDGHUVKLS DQG WKDW WKHVH UHDGHUV FRXOG LGHQWLI\ ZLWK WKH EHDXWLIXO ZRPDQ ZKR ORRNHG DV ZKLWH DV WKH\ GLG &KULVWLDQ f ,Q D GLIIHUHQW HVVD\ RQ ,ROD /HURY &KULVWLDQ FRQWHQGV WKDW +DUSHUnV FKRLFH RI WKH JHQUH RI URPDQFH DQG WKH H[SHFWDWLRQV RI UHDGHUV RI WKDW JHQUH IRUFHG KHU KDQG LQ WHUPV RI KHU DUWLVWLF FKRLFHV ,I +DUSHU ZHUH WR ZULWH D VXFFHVVIXO URPDQFH RQH WKDW ZRXOG DZDNHQ KHU FRXQWU\PHQ WR D PRUH &KULVWLDQOLNH KXPDQLW\ VKH ZRXOG KDYH WR FRQVWUXFW VXFK DQ LGHDO DQG GLVFDUG KHU NQRZOHGJH RI EODFN ZRPHQnV OLYHV LQ 2QH UHDVRQ IRU WKLV LV WKDW EODFN ZRPHQ ZHUH QRW EHDXWLIXO DFFRUGLQJ WR WKH QRUPV RI WKH GD\ DQRWKHU LV WKDW PRVW EODFN ZRPHQ EHFDXVH WKH\ KDG WR ZRUN ZHUH LQ FRQWDFW ZLWK WKH VXOOLHG ZRUOG DQG FRXOG VFDUFHO\ EH SXUH LQ WKHLU DWWLWXGH WRZDUG OLIH )LQDOO\ UHILQHPHQW RU WKH VWDWH RI EHLQJ ZHOOEUHG FRXOG KDUGO\ EH FODLPHG VLQFH WKH PDMRULW\ RI WKHP KDG EHHQ VODYHV &KULVWLDQ 7KH 8VHV RI +LVWRU\ f :KDW FULWLFV OLNH /HZLV DQG &KULVWLDQ VHQVH DERXW 7ROD /HUR\ LV WKDW LW SHUPLWWHG D FRXQWHUUHDGLQJ WKDW GHIHQGHG WKH UDFLVW DUJXPHQW RI FLYLOL]LQJ ZKLWH EORRG 7KH FRQFHVVLRQV +DUSHU KDG WR PDNH JLYHQ KHU H[SHFWHG UHDGHUVKLS FRPSURPLVHG

PAGE 222

WKH SUR$IULFDQ$PHULFDQ VHQWLPHQWV WKDW WKH QRYHO VWULYHV WR FRQYH\ ,Q DQ RGG ZD\ WKHVH FULWLFV DUJXH WKRXJK +DUSHU GRHV QRW DOORZ KHU PDLQ FKDUDFWHUV WR JHW ZKLWH VKH DV D QRYHOLVW KDG WR ,Q GHIHQGLQJ +DUSHUnV FKRLFH +D]HO &DUE\ DUJXHV WKDW WKH ILJXUH RI WKH PXODWWR PXVW EH VHHQ DV D PHGLDWLQJ SUHVHQFH 7KH PXODWWR EULGJHV WKH JDS EHWZHHQ WZR VHHPLQJO\ GLVSDUDWH ZRUOGV $IWHU WKH IDLOXUH RI 5HFRQVWUXFWLRQ VRFLDO FRQYHQWLRQV GLFWDWHG DQ LQFUHDVLQJ DQG PRUH DEVROXWH GLVWDQFH EHWZHHQ EODFN DQG ZKLWH DV LQVWLWXWLRQDOL]HG LQ WKH -LP &URZ ODZV ,Q UHVSRQVH WKH PXODWWR ILJXUH LQ OLWHUDWXUH EHFDPH D PRUH IUHTXHQWO\ XVHG OLWHUDU\ FRQYHQWLRQ IRU DQ H[SORUDWLRQ DQG H[SUHVVLRQ RI ZKDW ZDV LQFUHDVLQJO\ VRFLDOO\ SURVFULEHG &DUE\ f 7KH KDUGVKLSV ,ROD HQFRXQWHUV SODFHG LQ KHU SDWK E\ ZKLWH FKDUDFWHUV ZKHQ ,ROD DGPLWV KHU EODFN EORRG LQGLFW ZKLWH UHDGHUV DV ZHOO DV VXFFHVVIXO EODFNVf DFFRUGLQJ WR &DUE\ UDWKHU WKDQ PDNH WKHP V\PSDWKHWLF WR ,ROD DV &KULVWLDQ VXJJHVWV ,ROD GLVWLQJXLVKHV KHUVHOI DV D FDSDEOH DFWRU LQ WKH ZKLWH ZRUOG DQG WKURXJK KHU +DUSHU VKRZV WKH LQGLVFULPLQDWH GLVFULPLQDWLRQ RI UDFLDO SUHMXGLFH )RU &DUE\ WKH PXODWWR LV D PHGLDWLYH SUHVHQFH EHFDXVH LW SURYLGHV D VWDUWLQJ SRLQW IRU FRPLQJ WR JULSV ZLWK WKH UHODWLRQVKLS EHWZHHQ EODFN DQG ZKLWH 7KH PXODWWR ILJXUH GXOOV WKH HGJHV RI UDFLDO RSSRVLWLRQ
PAGE 223

HDFK RI WKH PXODWWR FKDUDFWHUV LV DGYLVHG WR SDVV VR DV WR EH DEOH WR SDUWDNH RI WKH EHQHILWV RI $PHULFDQ FLWL]HQVKLS +DUSHU H[SRVHV WKH DUELWUDU\ QDWXUH RI WKH PHFKDQLVPV RI SRZHU ZKLFK SURYLGH WKH FRQWRXUV RI $PHULFD ,Q WKLV ZD\ +DUSHU DVNV D TXHVWLRQ YHU\ PXFK OLNH WKH RQH SRVHG E\ $OELRQ 7RXUJHH LQ KLV OHJDO EULHI IRU +RPHU 3OHVV\ ,V QRW WKH TXHVWLRQ RI UDFH VFLHQWLILFDOO\ FRQVLGHUHG YHU\ RIWHQ LPSRVVLEOH RI GHWHUPLQDWLRQ" 2OVHQ f 0XODWWRQHVV WKXV LV QR PHUH ODUN RQ WKH SDUW RI +DUSHU QRU LV LW D FRQFHVVLRQ WR WKH VXSHULRULW\ RI ZKLWHQHVV 5DWKHU WKH PXODWWR GLVDOORZV D VLQJXODU UHDGLQJ WKH WURSH LV WKH YHU\ HPERGLPHQW RI 'HUULGHDQ VXSSOHPHQWDULW\ 7KH ILJXUH RI WKH PXODWWR D WKLUG WHUP LQ D SUHYLRXVO\ ELQDU\ GHEDWH EHOLHV VLPSOLVWLF UDFLDO DQG E\ H[WHQVLRQ QDWLRQDOf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f DOWHUQDWLYHV WR WKHLU WUDGLWLRQDO UHDGLQJV DQG KHQFH WKHLU LGHD RI WKH $PHULFDQ QDWLRQ

PAGE 224

:KHQ &KDUOHV : &KHVQXWW ORRNHG DW WKDW VDPH QDWLRQ LQ KH SHUFHLYHG WKDW +DUSHUn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f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nV SXEOLFDWLRQ LQ 2FWREHU

PAGE 225

&KHVQXWW DVVHUWHG WKDW n7KH 0DUURZ RI 7UDGLWLRQn LV WKH SOHD RI DQ DGYRFDWH FDQ RQO\ KRSH WKDW LW LV EDVHG XSRQ WKH HYLGHQFH DQG WKDW LW ZLOO PDNH RXW D FDVH EHIRUH DQ LPSDUWLDO MXU\ TXRWHG LQ $QGUHZV f +LPVHOI D ODZ\HU &KHVQXWW SRVLWLRQV KLV QRYHO DV D OHJDO DUJXPHQW IRU EODFN FLYLO ULJKWV (YHU\ SKDVH RI WKH VRXWKHUQ ZKLWH YLHZ KDV EHHQ DEO\ SUHVHQWHG LQ ILFWLRQ KH FRQWHQGHG LQ WKH VDPH QHZVSDSHU SLHFH DQG WKRXJKW LW RQO\ IDLU WKDW WKH 1HJURnV VLGH VKRXOG EH JLYHQ D KHDULQJ *LYHQ WKDW ILYH \HDUV HDUOLHU WKH 6XSUHPH &RXUWnV 3OHVVY Y )HUJXVRQ GHFLVLRQ KDG VHHPLQJO\ FORVHG WKH GRRU RQ VXFK OHJDO DUJXPHQWV &KHVQXWWn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f &KHVQXWWnV DQQRXQFHG LQWHQWLRQ FORVHO\ DOLJQV KLV QRYHO ZLWK RWKHU W\SHV RI UHVLVWDQFH OLWHUDWXUH %DUEDUD +DUORZ VXJJHVWV WKDW 5HVLVWDQFH OLWHUDWXUH FDOOV DWWHQWLRQ WR LWVHOI DQG WR OLWHUDWXUH LQ JHQHUDO DV D SROLWLFDO DQG SROLWLFL]HG

PAGE 226

DFWLYLW\ 7KH OLWHUDWXUH RI UHVLVWDQFH VHHV LWVHOI IXUWKHUPRUH DV LPPHGLDWHO\ DQG GLUHFWO\ LQYROYHG LQ D VWUXJJOH DJDLQVW DVFHQGDQW RU GRPLQDQW IRUPV RI LGHRORJLFDO DQG FXOWXUDO SURGXFWLRQ +DUORZ f 'HVSLWH KLV FDXWLRXV IRUPXODWLRQV &KHVQXWW FOHDUO\ EHOLHYHG LQ WKH LQWHUYHQWLRQDU\ FDSDFLW\ RI OLWHUDWXUH ,Q QDPLQJ 3DJH DQG +DUULV DV KLV ULYDOV &KHVQXWW ZDV WDNLQJ RQ WZR RI WKH EHVWVHOOLQJ DXWKRUV RI WKH WLPH DQG KHQFH WZR PDMRU IRUFHV RI LGHRORJLFDO DQG FXOWXUDO SURGXFWLRQ SDUWLFXODUO\ RQ TXHVWLRQV RI UDFH &KHVQXWW WDNHV DV KLV VWDUWLQJ SRLQW IRU WKH QRYHO DQ DFWXDO HYHQWf§WKH UDFH ULRW WKDW RFFXUUHG LQ :LOPLQJWRQ 1RUWK &DUROLQD RQ 1RYHPEHU GXULQJ ZKLFK DQJU\ ZKLWHV RYHUWKUHZ WKH ORFDO JRYHUQPHQW HVSHFLDOO\ WKH EODFN RIILFHU KROGHUV (VWLPDWHV UDQJHG EHWZHHQ HLJKW DQG WKLUW\ GHDG EODFNV
PAGE 227

SURPLQHQW ODZ\HUf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f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

PAGE 228

Q 1DWLRQDOLVP DQG 6H[XDOLW\ UDFLVP SHUPLWV D UHDFWLRQDU\ FULWLTXH RI KLV KLVWRULFDO FKDQJH DV ZHOO DV D MXVWLILFDWLRQ RI D VHHPLQJO\ GLVFUHGLWHG SDVW 7KH FRQVFLRXVQHVV RI FKDQJH RI WKH QHZ VSHHG RI WLPH RI WKH SRVVLEOH ORVV RI FRQWURO RYHU RQHnV OLIH ZHUH EDVLF LVVXHV WR ZKLFK UDFLVP DGGUHVVHG LWVHOI 7KURXJK LWV DSSHDO WR KLVWRU\ DQG QDWXUH LW DWWHPSWHG WR PDNH WLPH VWDQG VWLOO WR SURYLGH PHQ DQG ZRPHQ QRW RQO\ ZLWK D XVDEOH UDFLDO SDVW EXW DOVR ZLWK D SLHFH RI HWHUQLW\ WKDW ZRXOG JLYH WKHP VXSSRUW 7KH RXWVLGHU IXOILOOHG D FUXFLDO IXQFWLRQ DV WKH DQWLW\SHf§D ZDUQLQJ RI ZKDW WKH IXWXUH PLJKW KROG LI VRFLHW\ UHOD[HG LWV FRQWUROV DQG DEDQGRQHG LWV TXHVW IRU UHVSHFWDELOLW\ 0RVVH f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

PAGE 229

&RQVWDQW O\QFKLQJV HPSKDVL]HG KLV LPSRWHQFH DQG EUHG HYHU\ZKHUH D JURZLQJ FRQWHPSW IRU KLV ULJKWV 0O f 7KH ERG\ RI WKH EODFN PDQ EHFRPHV WKH WH[W WKDW SURYHV WKH OHJLWLPDF\ RI WKH SDVW :LWK IUHHGRP $IULFDQ $PHULFDQV KDG EHFRPH GHJHQHUDWH ERWK PRUDOO\ DV FULPLQDOVf DQG SK\VLFDOO\ 8VLQJ WKHVH VWDWLVWLFV WR VKRZ WKH EHQLJQ LQIOXHQFH RI VODYHU\ ZKLWHV UHFXUUHG WR D XVDEOH UDFLDO SDVW WKDW ERWK SURYLGHG D PRGHO IRU HIIHFWLYH IXWXUH QDWLRQKRRG DQG GHPRQVWUDWHG WKH IROO\ RI UDGLFDO KLVWRULFDO FKDQJHf§LQ WKLV FDVH HPDQFLSDWLRQ (YHQ WKH O\QFKLQJV RI EODFN PHQ VRFLHW\nV OLWHUDO DQG YLROHQW ZULWLQJ RI GLVFLSOLQH RQ WKH ERGLHV RI WKH RWKHU JHW UHDG DV SURRI RI EODFN GHJHQHUDF\ DQG D MXVWLILFDWLRQ IRU UHVWULFWLQJ WKH ULJKWV RI WKH UDFH LQ LWV HQWLUHW\ 6XFK D FKDUDFWHUL]DWLRQ RI EODFN DOVR SHUPLWWHG XQVFUXSXORXV ZKLWHV WR XVH EODFNQHVV DV D FRYHU IRU WKHLU RZQ PLVGHHGV 7KH FDVH RI 7RP 'HODPHUH LQ 7KH 0DUURZ RI 7UDGLWLRQ SURYLGHV D FDSVXOH YHUVLRQ RI WKH ZD\ LQ ZKLFK LQ &KHVQXWWnV YLHZ UDFLDO GLVWLQFWLRQ JHWV PDQLSXODWHG WR YHULI\ UDFLDO KLHUDUFK\ 7RP GUHVVHV XS LQ EODFNIDFH SRVLQJ DV KLV JUDQGIDWKHUnV PDQVHUYDQW 6DQG\ &DPSEHOO GHVFULEHG E\ WKH HOGHU 'HODPHUH DV D JHQWOHPDQ LQ HERQ\f DQG NLOOV DQG UREV 3ROO\ 2FKLOWUHH WR SD\ JDPEOLQJ GHEWV 7RPnV SHUIRUPDQFH VXFFHVVIXOO\ GLYHUWV VXVSLFLRQ IURP KLPVHOI DQG WKRXJK WKHUH LV HYLGHQFH WR LQGLFDWH 6DQG\nV LQQRFHQFH &DSWDLQ 0F%DQH DQRWKHU RI 0DMRU &DUWHUHWnV UDFHEDLWLQJ SDUWQHUV DUJXHV IRU WKH QHHG WR FDUU\ RXW WKH H[HFXWLRQ DQ\ZD\

PAGE 230

%XUQ WKH QLJJHU UHLWHUDWHG 0F%DQH :H VHHP WR KDYH WKH ULJKW QLJJHU EXW ZKHWKHU ZH KDYH RU QRW EXUQ D QLJJHU ,W LV DQ DVVDXOW XSRQ WKH ZKLWH UDFH LQ WKH SHUVRQ RI ROG 0UV 2FKLOWUHH FRPPLWWHG E\ WKH EODFN UDFH LQ WKH SHUVRQ RI VRPH QLJJHU ,W ZRXOG MXVWLI\ WKH ZKLWH SHRSOH LQ EXUQLQJ DQ\ QLJJHU 7KH H[DPSOH ZRXOG EH DOO WKH PRUH SRZHUIXO LI ZH JRW WKH ZURQJ RQH ,W ZRXOG VHUYH QRWLFH RQ WKH QLJJHUV WKDW ZH VKDOO KROG WKH ZKROH UDFH UHVSRQVLEOH IRU WKH PLVGHHGV RI HDFK LQGLYLGXDO 0( f 0F%DQHnV EDOG UDFLVP UHYHDOV KLV SHUFHSWLRQ RI EODFNQHVV DV D FDWFKDOO IRU GHJHQHUDF\ )RU 0F%DQH DV IRU &DUWHUHW DQG WKH RWKHU ZKLWH VXSUHPDFLVWV RI :HOOLQJWRQ LQGLYLGXDO QLJJHUV DUH LQWHUFKDQJHDEOH 7KH EODFN UDFH FRPPLWWHG WKH FULPHV DJDLQVW 3ROO\ 2FKLOWUHH LQ WKH SHUVRQ RI VRPH QLJJHU :KDW PDNHV 0F%DQHn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

PAGE 231

RI :HOOLQJWRQ WKH ILFWLRQDO VHWWLQJ IRU WKH QRYHO ([DPLQLQJ DQ DG IRU VNLQ EOHDFK ZKLFK DSSHDUV LQ WKH ORFDO EODFNUXQ QHZVSDSHU *HQHUDO %HOPRQW RQH RI WKH WRZQ DJLWDWRUV IRU ZKLWH VXSUHPDF\ UHPDUNV XSRQ WKH UDPLILFDWLRQV IRU KLV VHJUHJDWLRQLVW FDPSDLJQ LI VXFK D SRWLRQ DFWXDOO\ ZRUNHG :HnG EHWWHU KXUU\ RU WKHUHnOO EH QR QHJURHV WR GLVIUDQFKLVH ,I WKH\ GRQnW VWRS WLOO WKH\ JHW WKH FRORU WKH\ GHVLUH DQG WKH VWXII ZRUNV DFFRUGLQJ WR FRQWUDFW WKH\nOO DOO EH ZKLWH P f 7KH SRVVLEOH HUDVXUH RI WKH FRORU OLQH ZRXOG GHVWUR\ WKH EDVLV IRU WKH VLJQLILFDWLRQ RI WKH *HQHUDOnV SROLWLFDO YLHZV ,I WKH VNLQ EOHDFK ZHUH VXFFHVVIXO WKH GLVWLQFWLRQ EHWZHHQ LQVLGH DQG RXWVLGH WKH QDWLRQ ZRXOG EH ORVW :LWK WKH ORVV RI GLVWLQFWLYH RWKHUQHVV XSRQ ZKLFK D ODZ UHJXODWLQJ WKH ERUGHUV RI WKH QDWLRQ FRXOG EH EDVHG *HQHUDO %HOPRQW DQG KLV FRPSDWULRWV ZRXOG ORVH WKHLU EHVW FODLP WR SROLWLFDO SULYLOHJH :KHQ 0DMRU &DUWHUHW WKH SXEOLVKHU RI :HOOLQJWRQnV ZKLWH UXQ QHZVSDSHU DQG FRKRUW RI *HQHUDO %HOPRQW GLVFRYHUV WKDW KLV PDQVHUYDQW -HUU\ /HWORZ KDV EHHQ XVLQJ WKH DGYHUWLVHG VNLQ EOHDFK KH LPPHGLDWHO\ PRYHV WR SXW -HUU\ EDFN LQ KLV SURSHU SODFH -HUU\ VDLG &DUWHUHW VWHUQO\ ZKHQ KLUHG \RX WR ZRUN IRU WKH &KURQLFOH \RX ZHUH EODFN 7KH ZRUG nQHJURn PHDQV nEODFNn 7KH EHVW QHJUR LV D EODFN QHJUR RI WKH SXUH W\SH DV LW FDPH IURP WKH KDQG RI *RG ,I \RX ZLVK WR JHW DORQJ ZHOO ZLWK WKH ZKLWH SHRSOH WKH EODFNHU \RX DUH WKH EHWWHUf§ ZKLWH SHRSOH GR QRW OLNH QHJURHV ZKR ZDQW WR EH ZKLWH $ PDQ VKRXOG EH FRQWHQW WR UHPDLQ DV *RG PDGH KLP DQG ZKHUH *RG SODFHG KLP 0, f

PAGE 232

0DMRU &DUWHUHW DWWHPSWV WR UHVWRUH WKH RQHWRRQH FRUUHVSRQGHQFH RI VLJQLILHU WR VLJQLILHGf§EODFN HTXDOV QHJUR +H LQYRNHV *RG WZLFH LQ WKH SDVVDJH WHOOLQJ -HUU\ LQ HIIHFW WKDW WDPSHULQJ ZLWK KLV EODFNQHVV LV WDPSHULQJ ZLWK *RGnV SODFHPHQW &DUWHUHW KLPVHOI VHHNV WR SODFH -HUU\f§ WKH EODFNHU \RX DUH WKH EHWWHU +H QHHGV -HUU\ WR DFFHSW WKDW SODFH VR WKDW KLV LPDJLQHG FRPPXQLW\ DQG KLV SROLWLFDO HJRPDQLD FDQ EH VXVWDLQHG :KDW PDNHV &DUWHUHWnV DQ[LHW\ LURQLF LV WKH IDFW WKDW &KHVQXWW FKDUDFWHUL]HV -HUU\ /HWORZ DV D ZKLWH PDQnV QLJJHU 6HQVLQJ WKDW KLV HPSOR\HU DQG KLV IULHQGV DUH DERXW WR FUDFN GRZQ RQ :HOOLQJWRQnV EODFN SRSXODWLRQ -HUU\ GHFLGHV WHU NHHS P\ PRXI VKHW DQn VWDQn LQ ZLG GH $QJU\6D[RQ UDFH 0; f $V QRYHOLVW -RKQ :LGHPDQ QRWHV LQ KLV UHDSSUDLVDO RI 7KH 0DUURZ RI 7UDGLWLRQ ,Q D SHUYHUVH GLVSOD\ RI VXEWHUIXJH DQG LPDJLQDWLRQ -HUU\ DQG WKH ZKLWH PHQ OLWHUDOO\ FUHDWH RQH DQRWKHU HDFK WLPH WKH\ PHHW :LGHPDQ f -HUU\nV VXEVHUYLHQFH UHLQIRUFHV &DUWHUHWnV RZQ IHHOLQJ RI VXSHULRULW\ DV ZHOO DV KLV GLVJXVW ZLWK EODFNV LQ JHQHUDO -HUU\ LQ WXUQ OHDUQV ZKDW &DUWHUHW DQG KLV IULHQGV H[SHFW RI KLP DQG WKHQ SHUIRUPV DFFRUGLQJO\ -HUU\ HQDFWV D NLQG RI EODFNIDFH PLQVWUHOV\ LQ ZKLFK KLV SHUIRUPDQFH DV REVHTXLRXV GDUN\ YHULILHV IRU ZKLWHV WKH WHQHWV RI WKHLU RZQ SROLWLFV &DUWHUHWnV SROLWLFV RI FRXUVH GHULYH LQ ODUJH PHDVXUH IURP 6RXWKHUQ QDWLRQDOLVP
PAGE 233

DUJXHV 6RXWKHUQ QDWLRQDOLVP DV SUDFWLFHG E\ WKH &DUWHUHWV RI WKH ZRUOG ZDV EHLQJ RIIHUHG DV DQ DSSURSULDWH PRGHO IRU WKH $PHULFDQ QDWLRQ )RU H[DPSOH ZKHQ D JURXS RI 1RUWKHUQHUV YLVLW :HOOLQJWRQ WR H[SORUH EXVLQHVV RSSRUWXQLWLHV JHQHURXV KRVWV QRQH RI ZKRP DUH QDPHGf OHDG FDUHIXOO\ RUFKHVWUDWHG WRXUV %\ FRQWUROOLQJ WKHLU JXHVWVn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f 'XULQJ WKHLU WRXUV WKH 1RUWKHUQHUV KDG QR RSSRUWXQLW\ WR PHHW RU WDON DORQH ZLWK DQ\ FRORUHG SHUVRQ LQ WKH FLW\ H[FHSW WKH VHUYDQWV DW WKH KRWHO 0O f 7KH SHUVSHFWLYH RIIHUHG WR WKLV 1RUWKHUQ DXGLHQFH V\PEROLF RI WKH ODUJHU UHDGLQJ DXGLHQFH LQ WKH 1RUWK WKDW KDG HPEUDFHG WKH ZRUNV RI +DUULV 3DJH DQG ODWHU 'L[RQf LV SXUHO\ ZKLWH 7KH PDQLIHVWDWLRQV RI EODFNQHVV WKDW WKLV DXGLHQFH LV SULY\ WRf§UHSRUWV RI EODFN EUXWDOLW\ FKXUFK FHOHEUDWLRQV ODERUHUVf§HQGRUVH WKH ZKLWH 6RXWKHUQ SRLQW RI YLHZ 7KH YLVLWRUV DFFHSW WKH GLVWLQFWLRQ EHWZHHQ QHJUR DQG 6RXWKHUQHU DFFHSWLQJ WKDW EODFNV DUH RXWVLGH RI WKH SULYLOHJHV RI FLWL]HQVKLS ,Q IDFW WKDW

PAGE 234

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
PAGE 235

RI IHHGLQJ DQ DSSHWLWH IRU FRQVXPDEOH RWKHUQHVV %URGKHDG f &KHVQXWWnV GUHDP RI EHFRPLQJ D SURIHVVLRQDO ZULWHU FRXOG EH DFKLHYHG RQO\ LI KH SDUWLFLSDWHG LQ WKH GHJUDGDWLRQ RI WKH EODFN UDFHf§VRPHWKLQJ WKDW +DUSHU IRU H[DPSOH QHYHU DOORZHG DQ\ RI KHU PXODWWR FKDUDFWHUV LQ 7ROD /HURY WR GR &KHVQXWW UHMHFWV WKLV SDWK ,Q %URGKHDGnV IRUPXODWLRQ &KHVQXWW WXUQHG KLV DWWHQWLRQ PRUH GLUHFWO\ WR LVVXHV RI UDFH ,Q KLV ILUVW QRYHO 7KH +RXVH %HKLQG WKH &HGDUV SXEOLVKHG LQ DQG WKHQ DJDLQ D \HDU ODWHU ZLWK 7KH 0DUURZ RI 7UDGLWLRQ &KHVQXWW GRFXPHQWV WKH PHFKDQLVPV HQIRUFLQJ D VWULFW FRORU OLQH DQG WKH LPSDFW XSRQ HGXFDWHG EODFN SURIHVVLRQDOV 'X%RLVnV 7DOHQWHG 7HQWK RI WKDW OLQH %URGKHDG DUJXHV WKDW &KHVQXWW VKLIWV KLV IRFXV IURP EHLQJ D FRPPHUFLDOO\ VXFFHVVIXO DXWKRU WR EHLQJ D NLQG RI KLVWRULDQ ,Q HPEUDFLQJ WKLV QHZ VXEMHFW &KHVQXWW SURSRVHG D QHZ ZRUN IRU KLPVHOI DV D ZULWHU +H VWURYH WR EH WKH KLVWRULDQ RI DQ XQUHFRUGHG SKDVH RI EODFN H[SHULHQFH DQG VR WR EULQJ WKH YDULHJDWLRQV RI $PHULFDQ UDFLDO OLIH WR SXEOLF DFNQRZOHGJHPHQW $QG &KHVQXWW FOHDUO\ ZLVKHG WR IRXQG KLV OLWHUDU\ LGHQWLW\ RQ WKLV PLVVLRQ %URGKHDG f /LNH +DUSHU WKHQ &KHVQXWW ZLVKHG WR JLYH YRLFH WR WKDW $IULFDQ$PHULFDQ KLVWRU\ WKDW WUDGLWLRQDO KLVWRULRJUDSK\ KDG RYHUORRNHG RU GLVFDUGHG %URGKHDG SRLQWV RXW WKDW WKLV IRFXV FRVW &KHVQXWW WKH VWDWXV RI PDMRU ZULWHU EHFDXVH WKH PDWHULDO KH ZLVKHG WR ZULWH DERXW ZDV WRR FRQWURYHUVLDO %XW IRU &KHVQXWW WKLV LV D WLPH RI OLWHUDU\ EORFNDJHf§QRW EHFDXVH KH ODFNHG SURMHFWV RU WKH ZLOO WR PDNH WKHP SXEOLF EXW EHFDXVH

PAGE 236

WKH RUJDQV RI RIILFLDO OLWHUDU\ FXOWXUH UHIXVHG WKRVH SURMHFWV SXEOLF OLIH f &KHVQXWWnV UROH DV KLVWRULDQ VHHPV SDUWLFXODUO\ DSW EHFDXVH 7KH +DUURZ RI 7UDGLWLRQ VKRZV KRZ SRWHQWLDOO\ GHDGO\ DQ $IULFDQ$PHULFDQ FRXQWHUKLVWRU\ FDQ EH WR ZKLWH VXSUHPDF\ :KDW PDNHV -RVK *UHHQ VXFK D UDGLFDO IRUFH LQ WKH QRYHO LV QRW PHUHO\ KLG GHPDQG IRU UDFLDO MXVWLFH EXW WKH KLVWRU\ KH UHPHPEHUV WKDW LQIRUPV WKDW GHPDQG $IWHU KHDULQJ -RVKnV VWRU\ RI KGZ KLV IDPLO\ KDG EHHQ PDVVDFUHG LQ DQ DWWDFN E\ WKH .X .OX[ .O£Q :LOOLDP 0LOOHU UHDOL]H>V@ WRR IRU D PRPHQW WKH FRQWLQXLW\ RI OLIH KRZ LQVHSDUDEO\ WKH SUHVHQW LV ZRYHQ ZLWK WKH SDVW KRZ FHUWDLQO\ WKH IXWXUH ZLOO EH EXW WKH RXWFRPH RI WKH SUHVHQW 0, f 0LOOHU UHFRJQL]HV WKDW PRVW $IULFLQ$PHULFDQV DUH QRW YLQGLFWLYH ZKLFK LV DQRWKHU ZD\ RI VD\LQJ WKDW WKH\ DUH DKLVWRULFDO $EVRUEHG LQ WKH FRQWHPSODWLRQ RI WKHLU GRXEWIXO SUHVHQW DQG WKHLU XQFHUWDLQ IXWXUH WKH\ JDYH OLWWOH WKRXJKW WR WKH SDVWf§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f

PAGE 237

7KXV &KHVQXWW DUWLFXODWHV D NH\ SDUW RI KLV SOHDf§WKH QHHG IRU D PRUH FRPSOHWH LQFOXVLYH KLVWRULFDO PHPRU\ RQH WKDW $IULFDQ$PHULFDQV WKHPVHOYHV SDUWLFLSDWHG LQ :KHQ 0LOOHU DGYLVHV -RVK WR IRUJLYH DQG IRUJHW DV WKH %LEOH VXJJHVWV -RVK VFRIIV ,nYH KHDUHG GH SUHDFKHUV VD\ LW WLPH DQn WLPH DJnLQ %XW LW nSHDUV WHU PH GDW GLV IHUJLWIXOQLVV DQn IHUJLYHQLVV LV PLJKW\ RQHVLGHG 0, f
PAGE 238

UHODWLRQ WR WKH &DUWHUHWV 7KH\ HDFK SURWHFW WKH OLWHUDO HPERGLPHQW RI WKH 1HZ 6RXWK WKH 6RXWK ZKLFK UHWDLQHG LWV ROG YDOXHV DQG DWWLWXGHV WRZDUG $IULFDQ$PHULFDQV %HFDXVH RI &KHVQXWWV RZQ SURIHVVLRQDO VWDWXV PDQ\ FULWLFV RI 7KH 0DUURZ RI 7UDGLWLRQ KDYH VXJJHVWHG WKDW &KHVQXWW HPSOR\V :LOOLDP 0LOOHU DV D PRGHO EODFN IRU HIIHFWLQJ UDFLDO UDSSURFKHPHQW )RU LQVWDQFH (ULF 6XQGTXLVW FRQVLGHUV 7KH 0DUURZ RI 7UDGLWLRQ D FRQFLOLDWRU\ QRYHO DUJXLQJ WKDW ZLWK WKH H[FHSWLRQ RI WKH 0LOOHUVn VRQ WKH RWKHU $IULFDQ $PHULFDQ FKDUDFWHUV ZKR DUH NLOOHG DUH GHOLEHUDWHO\ VDFULILFHG E\ &KHVQXWW LQ KLV RZQ DFW RI LGHRORJLFDO KHDOLQJ 6XQGTXLVW f 6XJJHVWLQJ WKDW &KHVQXWW XQGHUFXWV WKH SROLWLFDO SRZHU RI WKH IRON FKDUDFWHUV 6XQGTXLVW UHDGV 7KH 0DUURZ RI 7UDGLWLRQ DV DQ DUWLFXODWLRQ RI D QHZ SROLWLFV RI EODFNQHVV ,Q D ERRN JRYHUQHG WKURXJKRXW E\ VWDUN SRODULWLHV WKHUH VHHPV OLWWOH URRP IRU SDUDGR[ WKH QHZ $IULFDQ $PHULFDQ RUGHU LI LW LV WR KDYH D SODFH LQ VRFLHW\ DW DOO ZLOO RI QHFHVVLW\ SDVV EH\RQGf§ IRUVDNH SHUKDSVf§WKH ZRUOG RI WKH IRON DQG LWV VXUYLYDOV RI VODYH FXOWXUH 6XQGTXLVW f 7KRXJK HVFKHZLQJ D VLPSOH DVVRFLDWLRQ EHWZHHQ 0LOOHU DQG &KHVQXWW 6XQGTXLVW VHHV WKH FKRLFH RI 0LOOHU RYHU -RVK *UHHQ DV &KHVQXWWnV ORJLFDO FRQFHVVLRQ WR SROLWLFDO UHDOLW\ %XW LW LV FHUWDLQ WKDW &KHVQXWW LQWHQGHG KLV QRYHO WR EH FRQFLOLDWRU\ WKDW KH LQWHQGHG LW WR FRQWDLQ DQ DQJXLVKHG FU\ RI ULJKWHRXV SURWHVW PRGHUDWHG E\ WKH KRSHIXO YRLFH RI FRPSURPLVH f

PAGE 239

6XQGTXLVWnV LQWHUSUHWDWLRQ FRQIOLFWV ZLWK %URGKHDGnV FKDUDFWHUL]DWLRQ RI &KHVQXWW DV KLVWRULDQ &KHVQXWW PXVW VDFULILFH VRPH $IULFDQ$PHULFDQV WR VDYH RWKHUV +H PXVW HQDFW WKH NLQG RI HUDVXUH RI KLVWRULFDO PHPRU\ ZLWK VXFK D VDFULILFH WKDW HOVHZKHUH LQ WKH QRYHO KH SRLQWV WR DV D FKLHI FDXVH RI $IULFDQ$PHULFDQ GLVHPSRZHUPHQW 3URJUHVV UHTXLUHV UHSOLFDWLRQ DQG KHQFH 0LOOHU UHSODFHV 0DPP\ -DQH LQ WKH SURGXFWLRQ SURFHVV RI WKH 1HZ 6RXWK 6XQGTXLVWnV LQWHUSUHWDWLRQ SRLQWV XS WKH FKRLFHV &KHVQXWW IDFHG DV KH WULHG WR FRQVWUXFW D KLVWRULFDO QDUUDWLYH DERXW $IULFDQ $PHULFDQV )DU IURP HQGRUVLQJ 0LOOHU DV D PRGHO RI FRPSURPLVH &KHVQXWW UHVLJQV KLPVHOI WR 0LOOHU DV WKH RQO\ KHUR ZKR FRXOG VXUYLYH WKH SROLWLFDO UHDOLW\ RI WKH 1HZ 6RXWK &KHVQXWW HQGV WKH QRYHO EHIRUH 0LOOHU DFWXDOO\ WHQGV WR 'RGLH &DUWHUHWf§D VPDOO SURWHVW RI WKH XOWLPDWH FORVXUH WKDW KH NQHZ 6RXWKHUQ VRFLHW\ ZLWK WKH WDFLW EOHVVLQJ RI WKH 1RUWKf GHPDQGHG RI $IULFDQ $PHULFDQV 6XQGTXLVWnV LQWHUSUHWDWLRQ FHOHEUDWHV WKH YHU\ FRPSURPLVH WKDW &KHVQXWW ZLVKHG WR KLJKOLJKW DV WKH PRVW LQVLGLRXV UHPDLQLQJ YHVWLJH RI WUDGLWLRQnf§WKH UHTXLUHG VXEVHUYLHQFH RI EODFNV WR WKH GRPLQDQW ZKLWH VRFLDO RUGHU 6XQGTXLVWnV DVVHUWLRQ WKDW &KHVQXWWnV SROLWLFV SDVV EH\RQG WKH IRON FXOWXUH KLJKOLJKWV WKH FXOWXUDO PDQJOLQJ $IULFDQ$PHULFDQV KDG WR HQGXUH WR JDLQ D SODFH LQ WKH QDWLRQDO QDUUDWLYH *LYHQ WKDW 6XQGTXLVWnV XOWLPDWH JRDO LV WR SDVV &KHVQXWW LQWR WKH $PHULFDQ OLWHUDU\ FDQRQ WKH

PAGE 240

HOLVLRQV UHTXLUHG IRU VXFK D PRYH FDVW D VLJQLILFDQW OLJKW RQ WKH HPEHGGHG ELJRWULHV RI FDQRQPDNHUV ,Q D VHQVH 6XQGTXLVWnV LQWHUSUHWDWLRQ GHPRQVWUDWHV KRZ WKH $PHULFDQ OLWHUDU\ FDQRQ UHSOLFDWHV DQG LQIRUPV WKH UDFLVP RI WKH ODUJHU FXOWXUHf§WKDW LW LV LQ D YHU\ VSHFLILF VHQVH VWLOO &RQIHGHUDWH LQ V\PSDWK\ &KHVQXWW TXDOLILHV IRU FDQRQL]DWLRQ EHFDXVH KH WKURZV RII SDUW RI KLV FXOWXUH KHULWDJH 3XW DQRWKHU ZD\ WKH FDQRQ UHTXLUHV D UHJXODWHG EODFNQHVV MXVW DV WKH 6RXWKHUQ QDWLRQ GLG WKRXJK WKHVH LGHDV RI EODFNQHVV DUH VWDUNO\ GLIIHUHQWf 7KH 0DUURZ RI 7UDGLWLRQ DUJXHV WKDW WKH H[FOXVLRQ IURP QDUUDWLYHPDNLQJ OHDGV WR DQ H[FOXVLRQ RI QDWLRQDO YRLFH IRU EODFNV %\ UHIXVLQJ WR JUDQW UHDGHUO\ VDQFWLRQ WR $IULFDQ$PHULFDQ WH[WV WKDW UHIXVH WR SDVV FDQRQPDNHUV DOVR UHVWULFW WKH FLUFXODWLRQ RI EODFN QDUUDWLYHV IXUWKHU GHYDOXLQJ WKH GHYHORSPHQW RI EODFN YRLFHV WR LQWHUYHQH LQ DQG VXSSOHPHQW WKH QDUUDWLRQ RI QDWLRQ &KHVQXWWnV QRYHO GHOLEHUDWHO\ RIIHUV XS :LOOLDP 0LOOHU DV D PRGHO $IULFDQ $PHULFDQ IRU WK FHQWXU\ $PHULFD EHFDXVH RI KLV LQDGHTXDFLHV $FFHSWLQJ WKDW PRGHO DW IDFH YDOXH HLWKHU WR SUDLVH &KHVQXWW DV 6XQGTXLVW GXHV RU WR ULGLFXOH KLP DV /HURL -RQHV 5REHUW %RQH 5LFKDUG :ULJKW DQG RWKHUV KDYHf LV WR PLVV WKH SRLQW RI &KHVQXWWnV SDURGLH DFFHSWDQFH RI WKH FRORU OLQH +DUSHU DQG &KHVQXWW WKHQ ERWK VHW DERXW SURMHFWV RI KLVWRULFDO UHYLVLRQ ,Q GRLQJ VR WKH\ HDFK KRSH WR HIIHFW PHDQLQJIXO FKDQJH LQ WKH ZD\ WKDW WKH SXEOLF UHDG EODFNQHVV

PAGE 241

7KH\ SHUFHLYH WKHLU WDVN WR EH LQWHUYHQLQJ LQ WKH GLVFXUVLYH PHFKDQLVPV WKDW SURGXFHG WKH FRPSRVLWH QDUUDWLYH RI WKH $PHULFDQ QDWLRQ (DFK HYLQFHV VRPH DQ[LHW\ DERXW WKH ILWQHVV RI WKH 7DOHQWHG 7HQWK WR UHPDLQ IDLWKIXO WR WKHLU KHULWDJHf§ ERWK ,ROD /HUR\ DQG :LOOLDP 0LOOHU FRPH RII DW WLPHV LQ WKHLU UHVSHFWLYH QRYHOV DV XQHQOLJKWHQHG HOLWLVWV %XW WKH ODUJHU SUREOHP WKH\ IDFHG ZDV UHVLJQLI\LQJ EODFNQHVV LQ RUGHU WR FKDQJH WKH PLQGV RI D SUHGRPLQDQWO\ ZKLWH UHDGLQJ SXEOLF 7KH VXEMHFW RI \RXU H[FHOOHQW ZRUN LV QRW RQH WKDW ZLOO FRPPHQG LW WR WKH JHQHUDO SXEOLF ZURWH &KLFDJRnV VWDWH DWWRUQH\ DQG ORQJWLPH &KHVQXWW FRQILGDQWH &KDUOHV 'HQHHQ RQ 1RYHPEHU UHJDUGLQJ 7KH 0DUURZ RI 7UDGLWLRQ 7KH WUXWKV \RX SRUWUD\ DUH XQZHOFRPH RQHV TXRWHG LQ $QGUHZV f 6R LW SURYHG WR EH :LWK WKH HPHUJHQFH RI 7KRPDV 'L[RQ WKH TXHVWLRQ RI WKH FRQWRXUV RI WKH QDWLRQ HVSHFLDOO\ UHJDUGLQJ UDFH DQG FLWL]HQVKLS VHHPHG WR EH VHWWOHG
PAGE 242

'L[RQnV 7KH 7HRRDUGnV 6SRWV f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nV 6RRWV WKH 5HYHUHQG -RKQ 'XUKDP DUWLFXODWHV WKH VLPSOH SUHPLVH XQGHU ZKLFK 'L[RQ RSHUDWHV &DQ \RX EXLOG LQ D 'HPRFUDF\ D QDWLRQ LQVLGH D QDWLRQ RI WZR KRVWLOH UDFHV" :H PXVW GR WKLV RU EHFRPH PXODWWR DQG WKDW LV GHDWK 'L[RQ OV f 'L[RQnV DWWDFN RQ $IULFDQ $PHULFDQV VHUYHV WZR SXUSRVHV )LUVW LW XQGHUVFRUHV KLV FRQFHSWLRQ RI QDWLRQ DV UDFLDOO\ ERXQGHGf§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

PAGE 243

&RQIHGHUDF\f§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f 7KLV PDS ZLWK LWV EODFN GRWV ZRXOG VHHP WR VLJQLI\ WKH EHJLQQLQJ VWDJHV RI D PRYHPHQW WRZDUG LQWHJUDWLRQ $ EODFN SUHVHQFH JHWV UHJLVWHUHG LQ D V\PEROLF UHSUHVHQWDWLRQ RI WKH LPDJLQHG FRPPXQLW\ RI $PHULFD
PAGE 244

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f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f

PAGE 245

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nV 6SRWV 7KRPDV 'L[RQ DOVR EURDFKHV WKH TXHVWLRQ RI PDSSLQJ WKH SRVWZDU ZRUOG 7KH QRYHO RSHQV DV WKH &LYLO :DU HQGV DQG 'L[RQ QRWHV 7KH HDUWK KDG EHHQ EDSWLVHG LQ WKH EORRG RI ILYH KXQGUHG WKRXVDQG KHURLF VROGLHUV DQG D QHZ PDS RI WKH ZRUOG KDG EHHQ PDGH /6 f
PAGE 246

EOLJKW RI LWV VKDGRZ RYHU IXWXUH JHQHUDWLRQV D YHULWDEOH %ODFN 'HDWK IRU WKH ODQG DQG LWV SHRSOH /e f 7KH YDULRXV LPDJHV RI GDUNQHVV RYHUVKDGRZHG VKDGRZ %ODFN 'HDWKf FUHDWH WKH LPSUHVVLRQ RI D SHUYDVLYH EODFNQHVV GUDPDWLFDOO\ FKDQJLQJ WKH VRFLDO DQG SROLWLFDO ODQGVFDSH RI WKH 6RXWK ,Q D VHQVH WKHVH LPDJHV IXQFWLRQ LQ PXFK WKH VDPH ZD\ DV WKH EODFN GRWV RQ WKH 6WRZH 8QLYHUVLW\ PDS H[FHSW WKDW IRU 'L[RQ WKLV EODFNQHVV IDU IURP EHLQJ FRQILQHG WKUHDWHQV WR RYHUZKHOP WKH SURVWUDWH 6RXWK %ODFNQHVV EHFRPHV D NLQG RI FRQWDJLRQ WKDW RQO\ WKH XQLW\ RI WKH $QJOR6D[RQ UDFH FDQ FRPEDW 7KH /HRSDUGnV 6SRWV EHFRPHV 'L[RQnV RZQ HIIRUW DW D NLQG RI UHPDSSLQJ EXW XQOLNH *ULJJV 'L[RQ GLG QRW KDYH WR FUHDWH DQHZ WKH ERUGHUV RI WKLV LGHDO QDWLRQ 5DWKHU LW KDG DOUHDG\ H[LVWHG DQG LQ IDFW H[LVWHG VWLOO LQ WKH PLQGV RI PDQ\ 6RXWKHUQHUVf§WKH &RQIHGHUDWH 6WDWHV RI $PHULFD 'L[RQ FRQFHLYHV RI QDWLRQ DV D UDFLDOO\ ERXQGHG FRPPXQLW\ WKDW FHDVHV WR H[LVW LI DQG ZKHQ WKRVH ERXQGDULHV JHW YLRODWHG 'L[RQ WKXV DSSHDUV WR FURVV RQH ERUGHU WKH 1RUWK6RXWK GLFKRWRP\f WR HQIRUFH DQRWKHU EODFNZKLWHf DV KH DSSHDOV WR WKH $QJOR6D[RQ UDFH WR XQLI\ ,Q IDFW 'L[RQ VLPSO\ GHSOR\V WKH LPDJLQHG 6RXWKHUQ QDWLRQ DV WKH DQWLGRWH WR WKH LQIHFWLRQ RI WKH IUHHGPHQ UHOHDVHG E\ WKH UHVXOW RI WKH &LYLO :DU DQG DV D VXEVWLWXWH YHUVLRQ RI $PHULFDQ QDWLRQKRRG 7KH FKLHI SUHPLVH HQDFWHG LQ 7KH /HRSDUGnV 6SRWV LV WKH XWWHU IROO\ RI WKH QHZ PDS DQG WKH QHFHVVLW\ RI UHWXUQLQJ WR WKH ROG

PAGE 247

$V :DOWHU %HQQ 0LFKDHOV SRLQWV RXW 'L[RQnV ILFWLRQ IXQFWLRQV LQ D ZD\ VLPLODU WR /RWKURS 6WRGGDUGnV UDFLDO PDSV LQ KLV ERRN 7KH 5LVLQJ 7LGH RI &RORU DJDLQVW :KLWH :RUOG 6XSUHPDF\ 6WRGGDUGnV PLVVLRQ LQ 7KH 5LVLQJ 7LGH ZDV WR WHDFK ZKLWH PHQ WKH LPSRUWDQFH RI D n WUXH UDFHFRQVFLRXVQHVVn EHIRUH LW ZDV WRR ODWH 0LFKDHOV DVVHUWV EHIRUH WKDW LV WKH ZKLWH ZRUOG ZDV RYHUUXQ E\ EURZQV EODFNV UHGV DQG \HOORZV 0LFKDHOV f 'L[RQnV PDSSLQJ WRR VHUYHV D SHGDJRJLFDO SXUSRVH ,Q IDFW 7KH /HRSDUGnV 6SRWV SURSKHVLHV D GHVWDELOL]DWLRQ RI WKH QDWLRQ IURP WKH LQILOWUDWLRQ RI LWV ERUGHUV E\ IRUHLJQHUV ,Q D FRQYHUVDWLRQ ZLWK D FOHUJ\PDQ IURP %RVWRQ -RKQ 'XUKDP DUJXHV WKDW WKH 6RXWK SURYLGHV D EXOZDUN DJDLQVW LQYDVLRQ ,nYH VWXGLHG \RXU JUHDW FLWLHV %HOLHYH PH WKH 6RXWK LV ZRUWK VDYLQJ $JDLQVW WKH SRVVLEOH GD\ ZKHQ D IORRG RI IRUHLJQ DQDUFK\ WKUHDWHQV WKH IRXQGDWLRQV RI WKH 5HSXEOLF DQG PHQ VKDOO ODXJK DW WKH IDLWKV RI \RXU IDWKHUV DQG XQGLJHVWHG ZHDOWK EH\RQG WKH GUHDPV RI DYDULFH URWV \RXU VRFLHW\ XQWLO LW PRFNV DW KRQRXU ORYH DQG *RGf§DJDLQVW WKDW GD\ ZH ZLOO SUHVHUYH WKH 6RXWK /6 f 'XUKDP HQYLVLRQV WKH 6RXWK DV WKH UHSRVLWRU\ RI KRQRXU ORYH DQG *RG LQ WKH SURFHVV UHSOD\LQJ PXFK RI WKH UKHWRULF RI VHFHVVLRQLVWV 0RUH VLJQLILFDQWO\ WKH 6RXWK ZLOO DOVR DFW DV D UHSHOODQW RI IRUHLJQ DQDUFK\ 7KXV OLNH /RWKURS 6WRGGDUG 'L[RQ FRQVWUXFWV WZR PDSVf§RQH WKDW FKDUWV RXW D IXWXUH RI IRUHLJQ GLVVLSDWLRQ LQ ZKLFK $PHULFD EHFRPHV SURJUHVVLYHO\ OHVV $PHULFDQ DQG RQH WKDW UHDIILUPV WKH ERUGHUV RI UDFH DQG ZKLWH VXSUHPDF\

PAGE 248

'L[RQ KLPVHOI SURFODLPHG WKDW 7KH /HRSDUGnV 6RRWV UHIOHFWHG WKH EHOLHIV RI PRVW ZKLWH 6RXWKHUQHUV 'HIHQGLQJ KLV QRYHO DJDLQVW FULWLFLVP WKDW LW ZDV KLVWRULFDOO\ VXVSHFW 'L[RQ ZURWH D VKRUW SLHFH SXEOLVKHG LQ WKH $XJXVW 1HZ 6RXWKHUQ ZKLWHV@ DUH VR VLWXDWHG JHRJUDSKLFDOO\ WKDW WKH\ FRQWURO HQRXJK YRWHV WR HOHFW WKH 3UHVLGHQW ZLWK WKH DLG RI EXW WZR 1RUWKHUQ 6WDWHV f 7KH PDS 'L[RQ PRVW DVVLGXRXVO\ DGYRFDWHV PLJKW ZHOO GHIHQG WKH LQWHJULW\ RI WKH $QJOR6D[RQ UDFH EXW LW DOVR FOHDUO\ UHSODFHV WKH 6RXWK LQ D SRVLWLRQ RI SROLWLFDO HPLQHQFH /DWH LQ ,PSHULXP LQ ,PSHULR WKH 3UHVLGHQW RI WKH ,PSHULXP %HUQDUG %HOJUDYH GHQRXQFHV ZKLWHV DV D UDFH RI W\UDQWV ORRNLQJ WR ORUG RYHU EODFNV >:KLWHV@ KDYH DSSDUHQWO\ FKRVHQ RXU UDFH DV DQ HPSLUH DQG HDFK $QJOR6D[RQ UHJDUGV KLPVHOI DV D SHWW\ NLQJ DQG VRPH JDQJ RU FRPPXQLW\ RI QHJURHV DV KLV VXEMHFWV ,, f $V %HOWRQ 3LHGPRQW GLVFRYHUV

PAGE 249

ZKLWH W\UDQQ\ HQDFWV LWVHOI PRVW GLUHFWO\ RQ WKH ERGLHV RI $IULFDQ$PHULFDQV VXEMHFWLQJ WKHP RQFH DJDLQ WR FRORQL]DWLRQ %ODFN ERGLHV IRUP WKH WHUUDLQ XSRQ ZKLFK ZKLWHV PDS RXW WKHLU RZQ VHQVH RI SRZHU DQG VXSHULRULW\ %HOWRQn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
PAGE 250

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nOO EH GXUQHG LI WKDW DLQnW WKH ILQHVW ORRNLQn GDUNH\ HYHU SXW P\ H\H RQ ,I FRXOG JHW KLV ERG\ WR GLVVHFW ,nG JLYH RQH RI WKH ILQHVW NHJV RI ZKLVNH\ LQ P\ FHOODU ,, f =DFNODQG FRQILGHV WKLV GHVLUH WR WKH ORFDO SRVWPDVWHU WKH KHDG RI D JURXS FDOOHG WKH 1LJJHU 5XOHUV )URP WKH PRPHQW %HOWRQ DUULYHV LQ &DGHYLOOH DQ\ DXWRQRP\ WKDW KH SHUFHLYHG KLPVHOI WR KDYH RYHU KLV RZQ SHUVRQ LPPHGLDWHO\ HQGV +H LV PDGH WKH HPSLUH WKDW =DFNODQG DQG KLV FURQLHV DWWHPSW WR UXOH RYHU (YHQWXDOO\ WKURXJK UHSHDWHG RIIHQVHV LQFOXGLQJ XUJLQJ \RXQJ EODFN PHQ WR YRWHf %HOWRQ JHWV LQWR WURXEOH ZLWK WKH 1LJJHU 5XOHUV +H LV VKRW KDQJHG DQG OHIW IRU GHDG KLV ERG\ KDQGHG RYHU WR =DFNODQG IRU GLVVHFWLRQ
PAGE 251

'U =DFNODQG FXW RII WKH KDLU LQ WKH QHLJKERUKRRG RI WKH ZRXQG LQ WKH UHDU RI %HOWRQnV KHDG DQG EHJDQ FXWWLQJ WKH VNLQ WU\LQJ WR WUDFH WKH EXOOHW %HOWRQ GLG QRW ZLQFH 7KH QLJJHU LV GHDG RU HOVH KH ZRXOG VKRZ VRPH VLJQ RI OLIH %XW ZLOO WU\ SULFNLQJ KLV SDOP 7KLV ZDV GRQH EXW ZKLOH WKH SDLQ ZDV H[FHHGLQJO\ H[FUXFLDWLQJ %HOWRQ VKRZHG QR VLJQ RI IHHOLQJ ;; f 7KLV GLVVHFWLRQ VFHQH DFWV DV DQ DOOHJRU\ RI *ULJJVnV SHUFHSWLRQ RI UDFH UHODWLRQV %ODFNV PXVW DFFHSW VXFK LQFLVLRQV WKHLU ERGLHV DSSURSULDWHG DQG SUREHG ZKLOH WKH\ OLNH %HOWRQ PXVW >VKRZ@ QR VLJQ RI IHHOLQJ ,Q RUGHU WR HVFDSH IURP =DFNODQG %HOWRQ HQDFWV D FRXQWHUSHQHWUDWLRQf§KH VWDEV WKH FRURQHU WR GHDWK ZLWK KLV RZQ NQLIH 7R HIIHFW KLV HVFDSH %HOWRQ VXEVWLWXWHV =DFNODQGnV ERG\ IRU KLV RZQ RQ WKH GLVVHFWLRQ WDEOH DWWDFKLQJ D VKRUW QRWH 'RFWRUV KDYH VWHSSHG RXW IRU D VKRUW ZKLOH 'RQnW WRXFK WKH QLJJHU XQWLO FRPH ;, f %HOWRQ FRPPLWV WKH PRVW XQSDUGRQDEOH RI FULPHVf§NLOOLQJ D ZKLWH PDQ
PAGE 252

DERXW ZKDW ZKLWHV WKLQN RI KLV SHRSOH %HOWRQ FURVVGUHVVHV WDNLQJ D MRE DV D PDLG IRU D SURPLQHQW 5LFKPRQG IDPLO\ +RZHYHU KH VRRQ GLVFRYHUV WKDW WKH ERUGHUV RI EODFN ZRPHQnV ERGLHV DUH DV OLWWOH UHVSHFWHG DV WKRVH RI EODFN PHQnV 0LGQLJKW FDUULDJH ULGHV ZHUH RIIHUHG DQG UHIXVHG 7ULSV WR GLVWDQW FLWLHV ZHUH SURSRVHG EXW GHFOLQHG 0RQH\ ZDV RIIHUHG IUHHO\ DQG ODYLVKO\ EXW WR QR DYDLO %HOWRQ GLG QRW \LHOG WR WKHP +H EHFDPH WKH F\QRVXUH RI DOO H\HV +H VHHPHG VR KDUG WR UHDFK WKDW WKH\ EHJDQ WR GRXEW KLV VH[ ;, f (YHQWXDOO\ VHYHUDO RI KLV VXLWRUV NLGQDS %HOWRQ DQG GLVFRYHU KLV WUXH VH[ :KDW %HOWRQ GLVFRYHUV GXULQJ WKLV PRPHQW RI WUDQVYHVWLVP KRZHYHU LV WKDW IRU ZKLWH PHQ EODFN ZRPHQ E\ GHILQLWLRQ DUH HDVLO\ SHQHWUDEOH ,Q DQ RGG ZD\ %HOWRQ FRQILUPV WKLV UDFLVW ORJLF E\ SURYLQJ WR EH D PDQ $ QRUPDO EODFN ZRPDQ ZRXOG KDYH VXEPLWWHG ZKLOH %HOWRQnV WUXH JHQGHU GRHV FDXVH VRPH RXWUDJH LQ 5LFKPRQGnV SURPLQHQW VRFLDO FLUFOHV WKH IDFW WKDW WKH WUXWK DERXW EODFN ZRPHQ GLG QRW JHW FKDOOHQJHG HDVHV DQ\ GHILQLWLRQDO DQ[LHW\ 7KH DWWDFNV RQ %HOWRQ OHDG KLP WR VHH WKH QDWLRQ DV FRQVSLULQJ DJDLQVW KLV DQG KLV IDPLO\nV ERGLO\ LQWHJULW\ )RU H[DPSOH ZKHQ KLV QHZERUQ VRQnV VNLQ UHPDLQV ZKLWH %HOWRQ FRQFOXGHV LQFRUUHFWO\ DV LW WXUQV RXWf WKDW KLV ZLIH $QWRLQHWWH KDV EHHQ XQIDLWKIXO 5DWKHU WKDQ EODPH KHU WKRXJK %HOWRQ EODPHV WKH QDWLRQ IRU WKH VXSSRVHG ZKLWH LQFXUVLRQ +LV IHHOLQJV WRZDUG KLV ZLIH ZHUH PRUH RI SLW\ WKDQ UHSURDFK /LNH WKH PXOWLWXGH KH VXSSRVHG WKDW KLV IDLOXUH WR SURSHUO\ VXSSRUW KHU KDG WHPSWHG KHU WR UXLQ +H ORYHG KHU VWLOO LI DQ\WKLQJ PRUH SDVVLRQDWHO\ WKDQ HYHU %XW DK ZKDW ZHUH KLV IHHOLQJV LQ WKRVH GD\V

PAGE 253

WRZDUG WKH IODJ ZKLFK KH KDG ORYHG VR GHDUO\ ZKLFK KDG IORDWHG SURXGO\ DQG XQGLVWXUEHG ZKLOH FRORU SUHMXGLFH XSKHOG E\ LW VHQW DV KH WKRXJKW FUXHO ZDQW ZLWK GUDZQ VZRUG WR VWDE KLV IDPLO\ KRQRU WR GHDWK ;; f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n VHH >RXU WURRSV@ WDOO GHV SOD\LQn WHU P\VHOI 'HQ PDNH GDW EDQMHU PRDQ HQ FU\ HQ WDON DERXW GH IRONV ZD\ GRZQ LQ 'L[LH 'H ER\V FUHHS XS FORVHU WZHOO GH\ ULJKW DW P\ HOERZ HQ VHH nHP FU\LQn VRPH XQ nHPf§GHQ nJLQ nHU MXN HQ ZD\ VKH JR SOXFNHW\ SOXQFN HQ GH\ nJLQ WHU GDQFH DQG ODXJK 6RPHWLPHV GH\ FXVV PH ODN GH\ PDG HQ ODP PH RQ GH EDFN :KHQ GH\ KLW PH KDUG GHQ NQRZ GH\ UHDG\ WHU JLPPH DOO GH\ JRW ;e f 1HOVH XVHV KLV ERG\ DV D PHDVXUH RI WKH SUHSDUHGQHVV RI WKH WURRSV 7KH PRUH SDLQ WKH\ LQIOLFW RQ KLP WKH PRUH UHDG\ KH SHUFHLYHV WKHP WR EH $V D IXUWKHU PHDVXUH RI 1HOVHnV

PAGE 254

VXEPLVVLRQ RI KLV SHUVRQ WR WKH FDXVH RI WKH 6RXWK DIWHU WKH ZDU HQGV DQG WKH HOGHU *DVWRQ KDV EHHQ NLOOHG 1HOVH VWLOO UHWXUQV 6RXWK SDVVLQJ WKURXJK 8QLRQ OLQHV WR GR VR LQ RUGHU WR SXW KLPVHOI XQGHU WKH FRPPDQG RI 0UV *DVWRQ DQG \RXQJ &KDUOLH 7KH HQG RI WKH ZDU KRZHYHU XQOHDVKHV WKH WKUHDW RI EODFN SHQHWUDWLRQ RQ WKH 6RXWK LQ WKH SHUVRQ RI WKH EODFN UDSLVW 7ZR GLIIHUHQW VFHQHV ERWK LQYROYLQJ GDXJKWHUV RI 7RP &DPS D GLVDEOHG &RQIHGHUDWH YHWHUDQ KLJKOLJKW 'L[RQnV XVH RI WKH LPDJH RI WKH EODFN UDSLVW 7KH ILUVW LQYROYHV &DPSnV GDXJKWHU $QQLH ZKR LV NLGQDSSHG E\ GUXQNHQ EODFN 8QLRQ WURRSV RQ KHU ZHGGLQJ QLJKW ,Q WKH IUDFDV WKDW IROORZV $QQLH LV VKRW WR GHDWK E\ RQH RI WKH ZKLWH PHQ SXUVXLQJ KHU DQG KHU NLGQDSSHUV 1HYHUWKHOHVV 7RP &DPS H[SUHVVHV KLV JUDWLWXGH WR WKH PHQ ZKR KHOSHG VDYH KLV GDXJKWHU 7RP \RX GRQnW NQRZ KRZ EURNH XS ZH DOO DUH RYHU WKLV 3RRU FKLOG ZH GLG WKH EHVW ZH FRXOG ,WnV DOO ULJKW ER\V
PAGE 255

V\PEROLFDOO\ QDPHG 'LFN D FKLOGKRRG IULHQG RI &KDUOLH *DVWRQ )ORUD VXIIHUV ZKDW IRU KHU IDWKHU LV WKH XOWLPDWH LQGLJQLW\f§ SHQHWUDWLRQ E\ D EODFN PDQ )ORUD OD\ RQ WKH JURXQG ZLWK KHU FORWKHV WRUQ WR VKUHGV DQG VWDLQHG ZLWK EORRG +HU EHDXWLIXO \HOORZ FXUOV ZHUH PDWWHG DFURVV KHU IRUHKHDG LQ D GDUNUHG OXPS EHVLGH D ZRXQG ZKHUH KHU VNXOO KDG EHHQ FUXVKHG 7KH VWRQH OD\ DW KHU VLGH WKH FULPVRQ PDUN RI KHU OLIH VKRZLQJ RQ LWV MDJJHG HGJHV :LWK WKDW VWRQH WKH EUXWH KDG WULHG WR VWULNH WKH GHDWK EORZ 6KH ZDV O\LQJ RQ WKH HGJH RI WKH KLOO ZLWK KHU KHDG XS WKH LQFOLQH ,W ZDV WRR SODLQ WKH WHUULEOH FULPH WKDW KDG EHHQ FRPPLWWHG /e f 7KH PRUH REYLRXV ZRXQG IURP WKH MDJJHG URFN WHOOV RI WKH RWKHU SHQHWUDWLRQ WKDW )ORUD KDV VXIIHUHG 6KH GLHV VKRUWO\ DIWHU EHLQJ GLVFRYHUHG DQG KHU IDWKHU PDGH PDG ZLWK JULHI TXLFNO\ IROORZV 'LFNn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nV UHJLPH 1RZ VFDUFHO\ D GD\ SDVVHG LQ WKH 6RXWK ZLWKRXW WKH UHFRUG RI VXFK DQ DWURFLW\ VZLIWO\ IROORZHG E\ D

PAGE 256

O\QFKLQJ DQG O\QFKLQJ WKXV KDG EHFRPH WKH SXQLVKPHQW IRU DOO JUDYH FULPHV /e f ,Q &KDUOLHnV PLQG RQO\ ZLWK WKH DGYHQW RI 5DGLFDO 5HFRQVWUXFWLRQ GLG WKH EODFN UDSLVW HPHUJH DQG ZLWK KLV DSSHDUDQFH WKH O\QFK PRE HPHUJHG DV ZHOO )UHHG IURP WKH IHWWHUV LPSRVHG E\ WKH 6RXWKHUQ QDWLRQ EODFNV KDG EHFRPH WRR DJJUHVVLYH LQ WKHLU H[SORUDWLRQV &KDUOLH WKXV GHWHUPLQHV WR UXQ IRU SROLWLFDO RIILFH RQ D SODWIRUP RI UHVWRULQJ RUGHU UDFLDO DQG FDUWRJUDSKLFf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f 7KH ,PSHULXP WKH UHVXOW RI %HOWRQnV FRQVSLUDF\ UHOLHV IRU LWV ERUGHUV QRW RQ DQ\ VSHFLILF JHRJUDSK\ WKRXJK ODWHU %HOWRQ VXJJHVWV WDNLQJ RYHU WKH VWDWH RI 7H[DV DV D KRPHODQGf EXW UDWKHU RQ WKH ERGLHV RI EODFNV ZKR KDG EHHQ ZULWWHQ RXW RI 8QLWHG 6WDWHV FLWL]HQVKLS 7KH ,PSHULXP DOORZV IRU EODFNV WR UHFODLP WKHLU ERGLHV ZKLFK KDG EHHQ DSSURSULDWHG DQG PDSSHG

PAGE 257

RXW E\ ZKLWH VXSUHPDFLVWV VHHNLQJ D SXUH QDWLRQ 7R HQG WKH IRUHLJQQHVV RU DOLHQ VWDWXV RI EODFNV %HOWRQ DQG KLV FRn FRQVSLUDWRUV VHHN WR FKDQJH WKH GHILQLWLRQ RI WKH SODFH WKH\ RFFXS\ 7KHLU QDWLRQ WKXV EHFRPHV D VWUDWHJ\ RI GHFRORQL]DWLRQf§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f§EXW IURP WKH -DPHV WR WKH 5LR *UDQGH WKH FKLOGUHQ RI WKH &RQIHGHUDF\ UXVKHG ZLWK HDJHU IOXVKHG IDFHV WR GHIHQG WKH IODJ WKHLU IDWKHUV KDG RQFH IRXJKW /e f 7KH JRDO RI WKH ZDU LV WR ZLSH WKH HPSLUH RI 6SDLQ IURP WKH PDS RI WKH :HVWHUQ ZRUOG /e f WKXV UHVWRULQJ $QJOR 6D[RQ SULPDF\ 7KH GLVWLQFWLRQ EHWZHHQ 1RUWK DQG 6RXWK GLVDSSHDUV WKRXJK 'L[RQ HPSKDVL]HV WKH UROH RI WKH FKLOGUHQ

PAGE 258

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e f %HUQDUGnV GHVLUH WR WXUQ WKH ,PSHULXP LQWR D PDFKLQH IRU DUPHG UHVLVWDQFH OHDGV KLP WR RUGHU DQG SDUWLFLSDWH LQ WKH H[HFXWLRQ RI KLV ORQJWLPH IULHQG %HOWRQ 3LHGPRQW 7KLV H[HFXWLRQ KRZHYHU WXUQV RXW WR EH WKH EHJLQQLQJ RI WKH HQG RI WKH ,PSHULXP )HDULQJ WKH FRQVHTXHQFHV RI %HUQDUGnV PHJDORPDQLD %HUO 7URXW ZKRVH SHUVRQDO SDSHUV IRUP WKH EDVLV RI WKH QRYHOnV QDUUDWLYH EHWUD\V WKH VHFUHW RI WKH ,PSHULXPnV H[LVWHQFH WR WKH QDWLRQDO JRYHUQPHQW DW :DVKLQJWRQ & 7URXW DUJXHV WKDW :KHQ >%HOWRQ 3LHGPRQW@ IHOO WKH VSLULW RI FRQVHUYDWLVP LQ WKH 1HJUR UDFH IHOO ZLWK KLP ;; f :LWK D IUHH KDQG %HUQDUG SUHVHQWHG D GDQJHU WR WKH HQWLUH ZRUOG 6WLOO 7URXWnV UHDVRQLQJ H[SRVHV VRPH FODVV VHQWLPHQW DV ZHOO +HQFHIRUWK %HUQDUG %HOJUDYHnV LQIOXHQFH ZRXOG EH VXSUHPH %RUQ RI GLVWLQJXLVKHG SDUHQWV UHDUHG LQ OX[XU\ JUDWLILHG DV WR HYHU\ ZKLP VXFFHVVIXO LQ HYHU\

PAGE 259

XQGHUWDNLQJ LGROL]HG E\ WKH SHRSOH SURXG EULOOLDQW DVSLULQJ GHHPLQJ QRWKLQJ LPSRVVLEOH RI DFKLHYHPHQW ZLWK 9LRODnV WLQ\ KDQG SURWUXGLQJ IURP WKH JUDYH SRLQWLQJ KLP WR PRYH IRUZDUG %HUQDUG %HOJUDYH 3UHVLGHQW RI WKH ,PSHULXP ,Q ,PSHULR ZDV D PDQ WR EH IHDUHG ;, f 7URXW IHDUV WKH FUHDWLRQ RI D FXOW RI SHUVRQDOLW\ DURXQG %HUQDUG SHUPLWWLQJ SRVVLEO\ XQQHFHVVDU\ EORRGVKHG %XW 7URXW DOVR GUDZV D FOHDU GLVWLQFWLRQ EHWZHHQ %HOWRQ 3LHGPRQW WKH VSLULW RI FRQVHUYDWLVP DQG %HUQDUG %HUQDUGnV SULYLOHJHG XSEULQJLQJ 7URXW VHHPV WR DUJXH PDNHV KLP D GDQJHURXV UDGLFDO 7KH LGHD RI QDWLRQ LV FRRSWHG FKDUWLQJ QRW D QHZ H[SDQVLYH FRPPXQLW\ EXW UDWKHU D PHFKDQLVP IRU SHUVRQDO UHYHQJH JDUEHG LQ UDFLDO XQLW\ 3XW VLPSO\ %HUQDUGnV QDWLRQ PDSV RXW D IDU WRR UDGLFDOL]HG FRQFHSWLRQ RI EODFNQHVV 7URXWnV EHWUD\DO LV DQ HIIRUW WR UHVWRUH WKH FRQVHUYDWLVP ZKLFK KDG DSSDUHQWO\ GLHG ZLWK %HOWRQ 3LHGPRQW DQG FULWLFV RI ,PSHULXP LQ ,PSHULR UHDG WKLV HQGLQJ DV VLJQDOLQJ *ULJJVnV RZQ DFFRPPRGDWLRQLVW VWDQFH 7URXWnV ORJLF DQG LQ WKH PLQGV RI VRPH *ULJJVnV WRRf FRPHV GDQJHURXVO\ FORVH WR WKH ZKLWH SUHMXGLFH DJDLQVW XSSLW\ EODFNV
PAGE 260

WKRVH ULJKWV IRU ZKLFK WKH\ RUJDQL]HG WKH ,PSHULXP ZKLFK P\ EHWUD\DO KDV QRZ GHVWUR\HG XUJH WKLV EHFDXVH ORYH RI OLEHUW\ LV VXFK DQ LQYHQWLYH JHQLXV WKDW LI \RX GHVWUR\ RQH GHYLFH LW DW RQFH FRQVWUXFWV DQRWKHU PRUH SRZHUIXO ,, f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nV EHWUD\DO RI WKH ,PSHULXP PDNHV KLP WKH LGHDO QDUUDWRU WR FRQYH\ $IULFDQ$PHULFDQ SROLWLFDO XQUHVW )RU KDYLQJ IUDPHG WKH VWRU\ E\ ERWK KLV RZQ LQWURGXFWRU\ GLVDYRZDO RI LW DQG D FRQFOXGLQJ UHDIILUPDWLRQ RI KLV GLVHQFKDQWPHQW >7URXW@ LV VXIILFLHQWO\ FUHGHQWLDOHG DV FLYLOL]HG WR OHW WKH VWRU\ HPHUJH XQVFDWKHG LWV LQKHUHQWO\ DQJU\ IRUFH UHODWLYHO\ LQWDFW +HGLQ f +HGLQ VXJJHVWV WKDW 7URXW LV D QDUUDWRU ZKR FDQ SDVV IRU ZKLWH LQ RUGHU WR NHHS WKH WDOH EODFN f )RU LQVWDQFH 7URXW FDQ ZDUQ UHDGHUV RI SRWHQWLDOO\ GHYDVWDWLQJ GHYLFHV RI EODFN QDWLRQDOLVP ZLWKRXW VHHPLQJ WKUHDWHQLQJ KLPVHOI )RU +HGLQ 7URXWnV FRQVHUYDWLVP DFWXDOO\ IDFLOLWDWHV DQ

PAGE 261

DUWLFXODWLRQ RI $IULFDQ$PHULFDQ SROLWLFV %\ H[WHQVLRQ 7URXW SLFNV XS %HOWRQ 3LHGPRQWnV PDSSLQJ SURMHFW E\ DWWHPSWLQJ DOEHLW E\ VWHDOWKf WR LQMHFW EODFNQHVV LQWR WKH ZKLWH QDWLRQ +RZHYHU WR VHH %HUQDUG %HOJUDYH DV VROHO\ WKH HPERGLPHQW RI EODFN UDGLFDOLVP LV WRR OLPLWLQJ +H LV *ULJJVnV GLUHFW FULWLTXH RI WKH FDUWRJUDSK\ RI UDFH /LNH WKH ZKLWH QDWLRQf§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f 9LRODnV IHDU RI PLVFHJHQDWLRQ PLUURUV WKDW RI ZKLWH VHJUHJDWLRQLVWV ZKR LQVLVWHG WKDW UDFLDO LQWHUPLQJOLQJ ZRXOG PHDQ WKH GHDWK RI WKH $QJOR6D[RQ UDFH ,Q VKRUW %HUQDUG %HOJUDYH LV *ULJJVnV SDURGLH GHSLFWLRQ RI WKH ZKLWHV ZKR VRXJKW WR PDNH $PHULFD D SXUH QDWLRQ %HUO 7URXWnV GHQXQFLDWLRQ RI %HUQDUGnV UDGLFDOLVP LV DW WKH VDPH WLPH DQ LPSOLFLW FULWLTXH RI DQ\ PDSSLQJ SURMHFW ZKLFK UHOLHV XSRQ UDFH )LQDOO\ *ULJJV SURSRVHV QR VSHFLILF ERXQGDULHV IRU KLV LGHD RI QDWLRQ \HW WKDW LV WKH SRLQW 7KH SURGXFWLRQ RI ERXQGDULHV QHFHVVDULO\ UHTXLUHVSURGXFHV DQ LQVLGH DQG DQ RXWVLGH FLWL]HQV DQG RWKHUV *ULJJVnV PDS WKHQ VHHNV

PAGE 262

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f *ULJJVn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f§ZKLWHQHVV ,Q FKDOOHQJLQJ WKH UDFLDO SUHPLVHV RI QDWLRQf§ERWK $PHULFD DQG WKH ,PSHULXPf§*ULJJV RIIHUV D VXSSOHPHQWDU\ YLHZ RI WKH PDS

PAGE 263

ZKLFK SHUPLWV QDWLRQ WR EH H[SDQVLYH LQFOXVLYH DQG XQFKDUWDEOH DW OHDVW LQ WUDGLWLRQDO FDUWRJUDSKLF WHUPV :KHUHDV *ULJJV GLVDYRZV WKH ,PSHULXP DQG WKH VHSDUDWLVP VXFK D FRQFHSWLRQ RI QDWLRQ HQWDLOV 'L[RQ HPEUDFHV WKH LGHD RI D UDFLDOO\ ERXQGHG ZKLWH PDQnV QDWLRQ ZKHQ &KDUOLH *DVWRQ JHWV HOHFWHG *RYHUQRU RI 1RUWK &DUROLQD *DVWRQ FRQWHPSODWHV D OLPLWHG UROH IRU EODFNV LQ WKH 6RXWKf§DV DJULFXOWXUDO ZRUNHUV +RZHYHU *DVWRQnV VXUURJDWH IDWKHU -RKQ 'XUKDP DUJXHV WKDW DQ\ HIIRUW WR HGXFDWH EODFNV LV VXUH WR IDLO DQG QRW ZRUWK WKH HIIRUW 7KH PRUH \RX HGXFDWH WKH PRUH LPSRVVLEOH \RX PDNH KLV SRVLWLRQ LQ D GHPRFUDF\ (GXFDWLRQ &DQ \RX FKDQJH WKH FRORXU RI KLV VNLQ WKH NLQN RI KLV KDLU WKH EXOJH RI KLV OLSV WKH VSUHDG RI KLV QRVH RU WKH EHDW RI KLV KHDUW ZLWK D VSHOOLQJ ERRN" 7KH 1HJUR LV WKH KXPDQ GRQNH\
PAGE 264

6LJQLILFDQWO\ 'XUKDP UHFXUV WR WKH VLWH RI WKH EODFN ERG\ IRU SURRI RI KLV FODLPV )DU IURP HVSRXVLQJ D FUDFNSRW UDGLFDOLVP 'XUKDP FOHDUO\ H[SUHVVHV 7KRPDV 'L[RQnV FRQFHSWLRQ RI QDWLRQ DV WKH HPERGLPHQW RI ZKLWH VXSHULRULW\ ,Q DQ HVVD\ ZKLFK DSSHDUHG LQ 7KH 6DWXUGD\ (YHQLQJ 3RVW VKRUWO\ EHIRUH WKH SXEOLFDWLRQ RI KLV VHFRQG QRYHO 7KH &ODQVPDQ LQ 'L[RQ GHQRXQFHG WKH ZRUN RI %RRNHU 7 :DVKLQJWRQnV 7XVNHJHH ,QVWLWXWH DV PDNLQJ $IULFDQ $PHULFDQV XQILW IRU WKHLU SODFH LQ $PHULFD 7KDW SODFH 'L[RQ KRSHG ZRXOG VRRQ EH HOVHZKHUH DV KH VXJJHVWHG VSHQGLQJ PRQH\ WR FRORQL]H EODFNV LQ /LEHULD )RU 'L[RQ WKH FRQWRXUV RI WKH QDWLRQ KDG EHHQ PDSSHG E\ ZKLWH PHQ DQG IRU WKDW UHDVRQ WKH\ KDG WKH ULJKW WR GHWHUPLQH ZKR FRXOG UHVLGH ZLWKLQ LWV ERUGHUV 2QH WKRXJKW ZRXOG EXUQ LQWR WKH VRXO RI HYHU\ \RXQJ $PHULFDQ DQG ZKR WKLQNV RI D 1HJUR ZKHQ KH VD\V $PHULFDQ"ff§WKLV 2XU 5HSXEOLF LV JUHDW QRW E\ UHDVRQ RI WKH DPRXQW RI GLUW ZH SRVVHVV RU WKH VL]H RI RXU FHQVXV UROO EXW EHFDXVH RI WKH JHQLXV RI WKH UDFH RI SLRQHHU ZKLWH IUHHPHQ ZKR VHWWOHG WKLV FRQWLQHQW GDUHG WKH PLJKW RI NLQJV DQG EOD]HG WKH ZD\ WKURXJK RXU ZLOGHUQHVV IRU WKH WUHPEOLQJ IHHW RI OLEHUW\ %RRNHU 7 :DVKLQJWRQ DQG WKH 1HJUR f 'L[RQ UHFXUV WR WKH ROG PDS WKDW GUDZQ E\ SLRQHHU ZKLWH IUHHPHQ WR DUJXH IRU WKH UHPRYDO RI WKH $IULFDQ$PHULFDQ IURP WKH PDS RI WXUQRIWKHFHQWXU\ $PHULFD 7KH /HRSDUGnV 6SRWV DUJXHV IRU WKH FUHDWLRQ RI WZR QDWLRQVf§RQH ZKLWH DQG RQH EODFNf§XQGHU WKH DVVXPSWLRQ WKDW WKH EODFN QDWLRQ ZRXOG RI LWV RZQ LQHSWLWXGH DQG GHJHQHUDF\ GLVLQWHJUDWH

PAGE 265

'L[RQnV GLFKRWRPRXV FDUWRJUDSK\ DOVR ZRUNV WR WKH EHQHILW RI ZKLWH PDQOLQHVV 7KH $QJOR6D[RQ LV HQWHULQJ WKH QHZ FHQWXU\ ZLWK WKH LPSHULDO FURZQ RI WKH DJHV RQ KLV EURZ DQG WKH VFHSWHU RI WKH LQILQLWH LQ KLV KDQGV &KDUOLH *DVWRQ SURFODLPV DV KH DQQRXQFHV KLV FDQGLGDF\ IRU JRYHUQRU /e f 'L[RQ FRQIODWHV WKH FDSDFLW\ WR UXOH WR EH LPSHULDO ZLWK SKDOOLF FDSDFLW\ WKH VFHSWHU RI WKH LQILQLWHf ,Q WKLV ZD\ 'L[RQnV FRQFHSW RI QDWLRQ QRW RQO\ UHLQIRUFHG WKH LGHD RI ZKLWH VXSUHPDF\ EXW DOVR GHPRQVWUDWHG ZKLWH PDQOLQHVV 'L[RQ GHQRXQFHG RSSRUWXQLVWV SROLWLFLDQV ZHDNPLQGHG RSWLPLVWV RU IHPDOH PHQ ZKR GLVDJUHHG ZLWK KLP WKDW EODFNV SRVHG DQ\ WKUHDW DW DOO %RRNHU 7 :DVKLQJWRQ DQG WKH 1HJUR f 7KH 6SDQLVK$PHULFDQ :DU ZKLFK 'L[RQ VDZ DV WKH HYHQW WKDW XQLILHG WKH $QJOR6D[RQV RI WKH 1RUWK DQG WKH 6RXWK KDG SURYLGHG WKH 8QLWHG 6WDWHV ZLWK FRORQLHV DQG SHRSOH RI FRORU WR UXOH RYHU 'L[RQnV RZQ YLVLRQ RI QDWLRQ SODFHG EODFNV LQ D VLPLODU SRVLWLRQ 7KH GHYDVWDWLRQ ZURXJKW DJDLQVW 6RXWKHUQ PHQ URXWHG LQ WKH &LYLO :DU FRXOG EH UHSDLUHG E\ VXFK D YLVLRQ RI QDWLRQ UHVWRULQJ WKHP DV FLWL]HQ NLQJV LQ WKH ZRUGV RI &KDUOLH *DVWRQ 127(6 /DXUHQ %HUODQW VXJJHVWV WKDW +DUSHU LQFRUSRUDWHV SROLWLFDO VHOILPSHDFKPHQWV E\ ZKLWHV OLNH WKH *HQHUDOnV WR UHLQYHQW D WUXO\ $IULFDQ $PHULFDQFHQWHUHG $PHULFDQ FLWL]HQVKLS f ,QFRUSRUDWLQJ YDULRXV HOHPHQWV RI $IULFDQ$PHULFDQ FXOWXUH ZKLFK ZHUH FRQVLVWHQWO\ PLQLPL]HG E\ ZKLWHV +DUSHU FUHDWHV WKH FRQGLWLRQV IRU WKH UHXQLRQ RI EODFN FRPPXQLW\ 2QFH XQLILHG WKLV FRPPXQLW\ WKURXJK GHEDWH DQG OLWHUDU\ DFFRPSOLVKPHQW FDQ FUHDWH D VSDFH IRU LWVHOI LQ WKH $PHULFDQ QDWLRQ $OO RI WKHVH VSHHFKHV DQG WKH FRQYHUVDWLRQV DERXW WKHP IRFXV RQ XSOLIWLQJ WKH UDFH DQG UHWKLQNLQJ KLVWRU\

PAGE 266

DQG WKH FRQGLWLRQV RI XSOLIWLQJ UHTXLUH LPDJLQLQJ D MXVW $PHULFD DQ $PHULFD ZKHUH QHLWKHU UDFH QRU VH[XDOLW\ H[LVWV DV D PRGH RI GRPLQDWLRQ f 7KRXJK %HUODQW LV QRW DV FRQFHUQHG ZLWK LVVXHV RI QDWLRQDOLVP KHU GLVFXVVLRQ RSHQV XS RQH RI WKH NH\ GLVFXUVLYH VWUDWHJLHV RI +DUSHUnV QRYHO +DUSHU WULHV WR XQLI\ WKH EODFN FRPPXQLW\ DURXQG WKH PRPHQWV RI LWV KLVWRU\ WKDW KDG EHHQ GLVFDUGHG DQG WKHQ RQFH WKDW XQLW\ KDG EHHQ DFFRPSOLVKHG VKH SXVKHV IRU D OLWHUDWXUH RI UDFLDO XSOLIW WKDW VWDNHV RXW D FODLP IRU IXOO $PHULFDQ FLWL]HQVKLS IRU $IULFDQ $PHULFDQV 6HH %HUODQW 7KH 4XHHQ RI $PHULFD *RHV WR :DVKLQJWRQ &LW\ +DUULHW -DFREV )UDQFHV +DUSHU $QLWD +LOO LQ 6XEMHFWV t &LWL]HQV 1DWLRQ 5DFH DQG *HQGHU IURP 2URRQRNR WR $QLWD +LOO HGV 0LFKDHO 0RRQ DQG &DWK\ 1 'DYLGVRQ 'XUKDP 'XNH 8QLYHUVLW\ 3UHVV f SS ,Q 7KH 2OG 6RXWK DOVR SXEOLVKHG LQ 3DJH LQFOXGHG DQ HVVD\ HQWLWOHG 7KH 5DFH 4XHVWLRQ LQ ZKLFK KH DUJXHG WKDW KLVWRU\ SURYHG WKDW EODFNV ZHUH XQHGXFDEOH 6LQFH WKH GDZQ RI KLVWRU\ WKH 1HJUR KDV EHHQ LQ RQH SODFH RU DQRWKHU LQ (J\SW LQ 5RPH LQ RWKHU (XURSHDQ FRXQWULHV EURXJKW LQ FRQWDFW ZLWK FLYLOL]DWLRQ \HW KH KDV IDLOHG WR UHFHLYH WKH YLWDOL]LQJ FXUUHQW XQGHU ZKLFK RWKHU UDFHV KDYH ULVHQ LQ JUHDWHU RU OHVV GHJUHH f 3DJH WKXV MXVWLILHV WKH GHSLFWLRQ RI 8QFOH -DFN 6FRWW DW OHDVW LQGLUHFWO\ ,Q D ODWHU FROOHFWLRQ RI HVVD\V HQWLWOHG 7KH 1HJUR 7KH 6RXWKHUQHUnV 3UREOHP f 3DJH DFWXDOO\ EHPRDQV WKH ORVV RI WKH ROGWLPH QHJUR ,QGHHG KH KDV EHFRPH VR UDUH WKDW HYHQ QRZ ZKHQ D JUD\ DQG ZULQNOHG VXUYLYRU LV IRXQG KH LV UHJDUGHG DV DQ H[FHSWLRQDO FKDUDFWHU DQG KH ZLOO VRRQ EH DV H[WLQFW DV WKH GRGR f 6HH 3DJH 7KH 1HJUR 7KH 6RXWKHUQHUnV 3UREOHP 1HZ HG@ WKH VLJQLILHU WR D SUHH[LVWHQW VLJQLILHG DQG WKXV >PDGH@ WKH ZRUG PHUHO\ UHIOHFWLYH UDWKHU WKDQ FRQVWLWXWLYH RI UHDOLW\ f $QGUHZV SUDLVHV ZULWHUV OLNH &KDUOHV &KHVQXWW DQG -DPHV :HOGRQ -RKQVRQ IRU HVFDSLQJ WKH GLFWDWHV RI 7XVNHJHH UHDOLVP DQG PDNLQJ ODQJXDJH DQ HIIHFWLYH WRRO IRU FUHDWLQJ DQG UHILQLQJ UHDOLW\ ([WUDSRODWLQJ IURP $QGUHZVnV DUJXPHQW ZRXOG FRQWHQG WKDW WKH VNHWFK RI 8QFOH -DFN 6FRWW UHIOHFWV 3DJHnV DQ[LHW\ DERXW WKH GLVUXSWLYH SRWHQWLDOLW\ RI $IULFDQ$PHULFDQ ZULWLQJ %\ UHMHFWLQJ HGXFDWLRQ 8QFOH -DFN SOD\V ULJKW LQWR

PAGE 267

WKH KDQGV RI 6RXWKHUQ QDWLRQDOLVWV OLNH 3DJH MXVW DV VRPH DFFXVHG %RRNHU 7 :DVKLQJWRQ RI GRLQJ ZLWK KLV DFFRPPRGDWLRQLVPf 3DJH DQG HVSHFLDOO\ 7KRPDV 'L[RQ WULHG WR FUHDWH LPDJHV RI EODFNV WKDW ZRXOG UHLQIRUFH UDFLVW VWHUHRW\SHV DQG LQYDOLGDWH WKH DUJXPHQWV RI $IULFDQ$PHULFDQ ZULWHUV 3XW VLPSO\ WKH RYHUW UDFLVP RI 'L[RQ ZDV PRUH WKDQ PHUH EOXVWHUf§LW ZDV SDUW RI D FDOFXODWHG VWUDWHJ\ WR LQVXUH WKH SUHGRPLQDQFH RI ZKLWH WH[WXDOLW\ QRYHOV ODZV HWFf 6HH $QGUHZV 7KH 5HSUHVHQWDWLRQ RI 6ODYHU\ DQG WKH 5LVH RI $IUR$PHULFDQ /LWHUDU\ 5HDOLVP LQ 6ODYHU\ DQG WKH /LWHUDU\ ,PDJLQDWLRQ HGV 'HERUDK ( 0F'RZHOO DQG $UQROG 5DPSHUVDG %DOWLPRUH 7KH -RKQV +RSNLQV 8QLYHUVLW\ 3UHVV f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f )RU (UQHVW WZR NLQGV RI SHGDJRJ\ DUH DYDLODEOH LQ 7ROD /HUR\ )LUVW +DUSHU DUWLFXODWHV GLUHFWO\ WKH QHHG IRU EODFNV WR EHFRPH OLWHUDWH VR WKDW WKH\ FDQ IXOO\ SHUIRUP WKHLU FLYLF DQG FXOWXUDO REOLJDWLRQV 6HFRQGO\ +DUSHU VHHNV WR LQVWUXFW KHU ZKLWH UHDGHUV PRUDOO\ VKRZLQJ WKHP WKH LQMXVWLFH RI UDFLDO GLVFULPLQDWLRQ 8OWLPDWHO\ (UQHVW FODLPV +DUSHU ZDQWV EODFNV WR EHFRPH FRPSRQHQWV LQ WKH UXOLQJ FXOWXUDO IRUPXOD f 6HH (UQHVW )URP 0\VWHULHV WR +LVWRULHV &XOWXUDO 3HGDJRJ\ LQ )UDQFHV ( : +DUSHUnV 7ROD /HUR\ $PHULFDQ /LWHUDWXUH 6HSWHPEHU f -,Q 'HUULGDnV IRUPXODWLRQ ZULWLQJ LWVHOI LV VXSSOHPHQWDU\ RI VSHHFK DQG ZULWLQJ LV DFWXDOO\ MXVW D VHULHV RI VXSSOHPHQWV LQWHUVHFWLQJ DQG LQWHUDFWLQJ ZLWK RQH DQRWKHU )RU 'HUULGD WKH VXSSOHPHQW VHUYHV WZR GLVWLQFW DQG VHHPLQJO\ FRQWUDGLFWRU\ IXQFWLRQV 7KH VXSSOHPHQW DGGV LWVHOI LW LV D VXUSOXV D SOHQLWXGH HQULFKLQJ DQRWKHU SOHQLWXGH WKH IXOOHVW PHDVXUH RI SUHVHQFH ,W FXPXODWHV DQG DFFXPXODWHV SUHVHQFH ,W LV

PAGE 268

WKXV WKDW DUW WHFKQH LPDJH UHSUHVHQWDWLRQ FRQYHQWLRQ HWF FRPH DV VXSSOHPHQWV WR QDWXUH DQG DUH ULFK ZLWK WKLV HQWLUH FXPXODWLQJ IXQFWLRQ %XW WKH VXSSOHPHQW VXSSOHPHQWV ,W DGGV RQO\ WR UHSODFH ,W LQWHUYHQHV RU LQVLQXDWHV LWVHOI LQWKH SODFHRI LI LW ILOOV LW LV DV LI RQH ILOOV D YRLG ,I LW UHSUHVHQWV DQG PDNHV DQ LPDJH LW LV E\ WKH DQWHULRU GHIDXOW RI D SUHVHQFH &RPSHQVDWRU\ DQG YLFDULRXV WKH VXSSOHPHQW LV DQ DGMXQFW D VXEDOWHUQ LQVWDQFH ZKLFK WDNHVWKHfSODFH $V VXEVWLWXWH LW LV QRW VLPSO\ DGGHG WR WKH SRVLWLYLW\ RI D SUHVHQFH LW SURGXFHV QR UHOLHI LWV SODFH LV DVVLJQHG LQ WKH VWUXFWXUH E\ WKH PDUN RI DQ HPSWLQHVV 'HUULGD f :KHQ 3DJH RU 'L[RQ GHSLFW $IULFDQ $PHULFDQV DV DQ DEVHQFH ZULWLQJ E\ +DUSHU RU &KHVQXWW ILOO D YRLG :KHQ 3DJH RU 'L[RQ PDS RXW WKH LGHQWLW\ RI WKHLU QDWLRQ DV DOO ZKLWH WKHVH $IULFDQ$PHULFDQ WH[WV VXSSOHPHQW WKH HPSWLQHVV DQG GHPDQG D UHFRQILJXUDWLRQ RI WKDW QDWLRQDO WH[WXDOLW\ 7KXV UDWKHU WKDQ VHH WKHVH VHWV RI WH[WV LQ FRPSHWLWLRQ ZLWK RQH DQRWKHU WKHUHE\ VHWWLQJ XS DQRWKHU GLFKRWRP\f VXJJHVW WKDW WKH\ VXSSOHPHQW RQH DQRWKHU GHVSLWH WKH EHVW HIIRUWV RI 3DJH DQG 'L[RQ WR FDVW RII WKH $IULFDQ$PHULFDQ SUHVHQFH 7KH DUJXPHQW FRXOG EH PDGH WKDW JLYHQ WKH SRRU VDOHV RI WKHVH $IULFDQ$PHULFDQ QRYHOV SDUWLFXODUO\ ZKHQ FRPSDUHG WR 'L[RQnV SRSXODULW\f WKH LGHD RI WKH VXSSOHPHQW LV D QRQ VHTXLWXU LQ WKDW UHDGHUV ZRXOG QRW VHH WKH VXSSOHPHQWLQJ SUHVHQFH RI WKHVH WH[WV
PAGE 269

WKH\ DUH QRW QHFHVVDU\ WKDW LV WKH\ QHHG QRW EH NQRZQf WR VXSSOHPHQW WKH WH[WV RI WKH ZKLWH ZULWHUV 6HH 'HUULGD 4e *UDPPDWRORDY WUDQV *D\DWUL &KDNUDYRUW\ 6SLYDN %DOWLPRUH 7KH -RKQV +RSNLQV 8QLYHUVLW\ 3UHVV f SS $PRQJ WKH PRUH YRFDO FULWLFV RI WXUQRIWKHFHQWXU\ EODFN ZULWHUV OLNH +DUSHU &KHVQXWW DQG *ULJJV DUH 5REHUW %RQH DQG 5LFKDUG :ULJKW ,Q KLV VWXG\ 7KH 1HJUR 1RYHO LQ $PHULFD %RQH GHULGHV WKH QRYHOV RI WKH 7DOHQWHG 7HQWK : ( % 'X%RLVnV WHUP IRU HGXFDWHG EODFNVf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f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f :ULJKWnV XVH RI WKH WHUP DPEDVVDGRUV QLFHO\ SRLQWV XS WKH LPSHULDOLVWLF LPSRVLWLRQ SXW XSRQ $IULFDQ$PHULFDQ FXOWXUH E\ $PHULFDQ 3XEOLF 2SLQLRQ DQG JLYHQ WKH LQHIILFDF\ RI WKH DFFRPPRGDWLRQLVW VWDQFH VXFK FULWLFLVP DV %RQHnV DQG :ULJKWnV SHUKDSV KDYH PHULW
PAGE 270

f&RPPHQWLQJ RQ WKLV H[WHQGHG MRXUQDO HQWU\ 5LFKDUG %URGKHDG QRWHV WKDW %RRNHU 7 :DVKLQJWRQnV EHOLHI LQ WKH VHOIn LQWHUHVWHGQHVV RI HGXFDWHG EODFNV LV EHOLHG E\ &KHVQXWWnV DPELWLRQV IRU KLV ZULWLQJ &KHVQXWW KHUH VHL]HV WKH LGHD WKDW LI WKH IRUPV RI OLWHUDU\ H[SUHVVLRQ PXVW EH IRXQG LQ D GRPLQDQW FXOWXUH WKH\ FDQ VWLOO EH XVHG LQ WKH LQWHUHVW RI VXERUGLQDWHG SHRSOHV +H JUDVSV WKDW LI ZULWLQJ PXVW EH GLUHFWHG WR 1RUWKHUQ ZKLWH DXGLHQFHV LW FDQ QHYHUWKHOHVV DLP WR IXUWKHU EODFN FDXVHV ZLWK WKRVH DXGLHQFHVf§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f &KHVQXWWnV HIIRUW WR ZULWH WR WKDW GLVWDQW FXOWXUH FRQVWLWXWHG D NLQG RI SHGDJRJ\ LQ ZKLFK &KHVQXWW OLNH +DUSHU DUJXHG DOEHLW VXEWO\ IRU IXOO $IULFDQ$PHULFDQ FLWL]HQVKLS 6HH %URGKHDG &XOWXUH RI /HWWHUV 6FHQHV RI 5HDGLQJ DQG :ULWLQJ LQ 1LQHWHHQWK&HQWXU\ $PHULFD &KLFDJR 8QLYHUVLW\ RI &KLFDJR 3UHVV f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f 7R SDVV LV WR DVVHUW WKH VXSHULRULW\ RI ZKLWHQHVV 3DVVLQJ SHUPLWV D IXOO\ ZKLWH UHDGLQJ RI D SHUVRQ DQG VXFK D UHDGLQJ HOLGHV D IXOO NQRZOHGJH RI WKH FULPHV FRPPLWWHG DJDLQVW IRUPHUO\ HQVODYHG EODFNV 0XODWWRHV OLNH 5REHUW ,ROD DQG +DUU\ DUH WKH OLWHUDO HPERGLPHQW RI PLVFHJHQDWLRQ SHUSHWUDWHG E\ ZKLWH PHQ DQG DV VXFK WKH\ FRQWUDGLFW WKH UDFLVW ORJLF RI VHJUHJDWLRQ 7KH\ FRXOG IXQFWLRQ DV VXFK D FRQWUDGLFWLRQ RQO\ LI WKH\ ZLOOLQJO\ UHVLVW WKH SUHVVXUH WR

PAGE 271

SDVV DQG DVVHUW WKHLU EODFNQHVV 3DVVLQJ ZRXOG SHUPLW DQ HUDVXUH RI WKDW KLVWRU\ DQG LQ WKH SURFHVV EXR\ DUJXPHQWV IRU ZKLWH VXSHULRULW\ 3XW VLPSO\ IRU +DUSHU WKH LQGLYLGXDOV ZKR FKRRVH WR SDVV SDUWLFLSDWH LQ LQGHHG XQGHUZULWH WKH GHJUDGDWLRQ RI DOO $IULFDQ $PHULFDQV DQG WKH\ LQDGYHUWHQWO\ SURYLGH DQ DIILUPDWLRQ RI WKH ODZ WKDW H[FOXGHV DOO $IULFDQ $PHULFDQV IURP WKH QDWLRQ 6HH 0XOOHQ 2SWLF :KLWH %ODFNQHVV DQG WKH 3URGXFWLRQ RI :KLWHQHVV 'LDFULWLFV 6XPPHU)DOO f f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f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f 6SLOOHUV QRWHV WKH VLJQLILFDQFH RI UDFLDO GLVWLQFWLRQ LQ WKH TXHVWLRQ RI $PHULFD DQG IRU KHU WKH PXODWWRD DV D VDQLWL]HG YHUVLRQ RI EODFN IDLOV WR KDYH DQ\ SROLWLFDO HIILFDF\ DQG LQ IDFW DFWXDOO\ GRHV D GLVVHUYLFH WR $IULFDQ $PHULFDQV E\ HYDFXDWLQJ WKHLU KLVWRU\ IURP WKH QDWLRQDO DGYHQWXUH
PAGE 272

PXODWWR PLJKW EH D VKDGRZ D FRQWDLQDEOH RWKHUQHVV EXW VLJQLILFDQWO\ WKH VXEWLWOH RI +DUSHUnV QRYHO LV 6KDGRZV 8SOLIWHG ,Q WKLV ZD\ +DUSHU FDQ EH VHHQ DV DWWHPSWLQJ WR SURYLGH VRPH PDWHULDOLW\ IRU WKDW VKDGRZ D PDWHULDOLW\ WKDW 6SLOOHUV VXJJHVWV WKH WHUP PXODWWRD ZDV GHVLJQHG WR GHQ\ DQG UHSUHVV 6HH 6SLOOHUV 1RWHV RQ DQ DOWHUQDWLYH PRGHOf§ QHLWKHUQRU LQ 7KH 'LIIHUHQFH :LWKLQ )HPLQLVP DQG &ULWLFDO 7KHRU\ HGV (OL]DEHWK 0HHVH DQG $OLFH 3DUNHU 3KLODGHOSKLD -RKQ %HQMDPLQV f SS :RPHQ RI PL[HG UDFH KDG EHHQ D VWDSOH RI PXFK DQWHEHOOXP ZULWLQJ $V $QQD 6KDQQRQ (OIHQEHLQ VKRZV LQ KHU VWXG\ :RPHQ RQ WKH &RORU /LQH SURDEROLWLRQ ZULWHUV XVHG WKH WUDJLF RFWRURRQ WR KLJKOLJKW WKH KRUURUV RI VODYHU\ 7R WKH 1RUWKHUQ DQWHEHOOXP DXGLHQFH IRU ZKRP VKH ZDV FUHDWHG DQ DXGLHQFH WKDW KDG VKXGGHUHG DW WKH YLVLEOH WHVWLPRQ\ JLYHQ E\ KHU UHDOOLIH VLVWHUV DW DQWLVODYHU\ UDOOLHV WKLV VWDSOH FKDUDFWHU ZDV SURRI RI WKH 1RUWKnV PRUDO VXSHULRULW\ ZKLFK QHHGHG RQO\ WR EH WDSSHG WR SXW DQ HQG WR VODYHU\ (OIHQEHLQ f 7HOOLQJO\ WKH DXGLHQFH LV LQYLWHG WR UHDG WKH RFWRURRQ DV VKH JHQHUDOO\ UHDGV KHUVHOIf§DV VRPHKRZ WDLQWHG E\ EODFN EORRG ,Q DOPRVW DOO RI WKHVH VWRULHV (OIHQEHLQ FRQWHQGV WKH LQJHQXH XSRQ GLVFRYHULQJ KHU nWDLQWn FROODSVHVf§QHYHU WR PRYH XQGHU KHU RZQ YROLWLRQ DJDLQ f 7KXV WKRXJK WKH SROLWLFDO SXUSRVH RI WKH WUDJLF RFWRURRQ LV WR DUJXH DJDLQVW VODYHU\ WKH ILJXUH DOVR WDFLWO\ XQGHUVFRUHV WKH SHUFHSWLRQ RI EODFN LQIHULRULW\ (OIHQEHLQ TXRWHV D VSHFLILF SDVVDJH IURP 'LRQ %RXFLFDXOWnV SOD\ 7KH 2FWRURRQ ZKLFK KLJKOLJKWV WKH RFWRURRQ =RHnV UHDGLQJ RI KHUVHOI 2I WKH EORRG WKDW IHHG P\ KHDUW RQH GURS LQ HLJKW LV EODFNf§EULJKW UHG DV WKH UHVW PD\ EH WKDW RQH GURS SRLVRQV DOO WKH IORRG WKRVH VHYHQ EULJKW GURSV JLYH PH ORYH OLNH \RXUVf§KRSH OLNH \RXUVf§DPELWLRQ OLNH \RXUVf§ OLIH KXQJ ZLWK SDVVLRQV OLNH GHZGURSV RQ WKH PRUQLQJ IORZHUV EXW WKH RQH EODFN GURS JLYHV PH GHVSDLU IRU ,nP DQ XQFOHDQ WKLQJf§IRUELGGHQ E\ WKH ODZVf§,nP DQ 2FWRURRQ TXRWHG LQ (OIHQEHLQ f =RH DFFHSWV WKH FRQIODWLRQ RI EODFN EORRG DQG ILOWK VKH IXUWKHU UHFRJQL]HV WKDW WKH ODZ PDNHV KHU D QRQHQWLW\f§,nP DQ XQFOHDQ WKLQJ =RHnV DFFHSWDQFH RI KHU WDLQW FRQWUDVWV GUDVWLFDOO\ ZLWK ,ROD /HUR\nV YLHZ RI KHU PXODWWRQHVV 7KH EHVW EORRG LQ P\ YHLQV LV $IULFDQ EORRG ,ROD WHOOV KHU 8QFOH 5REHUW ODWH LQ WKH QRYHO DQG DP QRW DVKDPHG RI LW ;/ f 6HH (OIHQEHLQ :RPDQ RQ WKH &RORU /LQH %DWRQ 5RXJH /RXLVLDQD 6WDWH 8QLYHUVLW\ 3UHVV f SS

PAGE 273

f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f ,Q WKHLU GHVSHUDWLRQ WR UHFODLP WKDW SRZHU DQG VWDWXV ZKLFK WKH\ EHOLHYHG ZHUH ULJKWO\ WKHLUV 6RXWKHUQ ZKLWHV GLG QRW VHH RU PRUH VLJQLILFDQWO\ GLG QRW FDUHf WKDW WKHLU DFWLRQV EHOLHG WKHLU RZQ FODLPV WR FLYLOL]DWLRQ 3DUW RI &KHVQXWWnV SXUSRVH LQ 7KH 0DUURZ RI 7UDGLWLRQ LV WR VKRZ KRZ E\ EHLQJ LQ FRQWURO RI WKH SURFHVV E\ ZKLFK RWKHUQHVV LV FRGHG DQG UHDG ZKLWHV ZHUH DEOH WR FRYHU XS WKHLU RZQ VDYDJHU\ DQG GLVSODFH LW RQWR $IULFDQ $PHULFDQV ZKRVH SRVLWLRQ LQ WKH FXOWXUH GLG DOO IRU WKHP WR VWDJH DQ HIIHFWLYH FRXQWHUQDUUDWLYH 6XQGTXLVW VHHV 7RP 'HODPHUHnV PDVTXHUDGH DV KLV JUDQGIDWKHUn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f 7KDW LV WKH 1HZ 6RXWK UHTXLUHG SUHFLVHO\ ZKDW WKH 2OG 6RXWK KDG KDGf§D SRSXODWLRQ RI EODFNV WR EH UXOHG RYHU WKDW FRQILUPHG WKH HIILFDF\ RI 6RXWKHUQ ZKLWH PHQ 6HH 6XQGTXLVW 7R :DNH WKH 1DWLRQV &DPEULGJH 7KH %HONQDS 3UHVV RI +DUYDUG 8QLYHUVLW\ 3UHVV f SS f(ULF /RWW KDV QRWHG LQ KLV VWXG\ RI EODFNIDFH PLQVWUHOV\ WKDW RQH VLJQLILFDQW IXQFWLRQ RI PLQVWUHO VKRZV ZDV WR SURGXFH EODFN ERGLHV SULPDULO\ PDOH ERGLHVf WR EH JD]HG XSRQ LQ RUGHU

PAGE 274

WR HVWDEOLVK DQG MXVWLI\ WKH UDFLDO KLHUDUFK\ ZKLFK SRVLWHG ZKLWH VXSHULRULW\ DW LWV FRUH %ODFN ILJXUHV ZHUH WKHUH WR EH ORRNHG DW VKDSHG WR WKH GHPDQGV RI GHVLUH WKH\ ZHUH VFUHHQV RQ ZKLFK DXGLHQFH IDQWDV\ FRXOG UHVW VHFXULQJ ZKLWH VSHFWDWRUVn SRVLWLRQ DV VXSHULRU FRQWUROOLQJ QRW WR VD\ RZQLQJ ILJXUHV %HKLQG DOO RI WKH FLUFXPORFXWLRQ JRLQJ RQ LQ GHVFULSWLRQV RI EODFNIDFH SHUIRUPDQFH WKHQ ZH PXVW EHJLQ WR JOLPSVH WKH ZKLWH PDOH WUDIILF LQ UDFLDO GHJUDGDWLRQ ZKRVH FDUGLQDO SULQFLSOH ZDV \HW D VXSUHPH GLVRUGHUO\ FRQGXFWf§ D UHYHDOLQJO\ HTXLYRFDO PHDQV RI UDFLDO FRQWDLQPHQW /RWW f $V ORQJ DV EODFNV FRXOG EH GLVWLQJXLVKHG DV GHJUDGHG DQG GLVRUGHUO\ /RWW DUJXHV WKHLU HQVODYHPHQW FRXOG EH MXVWLILHG $IWHU VODYHU\ VXFK GHSLFWLRQV RI GHJUDGDWLRQ VWLOO VHUYHG D VLJQLILFDQW SXUSRVHf§WKH MXVWLILFDWLRQ RI WKH UHJXODWLRQ RI EODFN VRFLDO DQG SROLWLFDO ULJKWV -HUU\ /HWORZ WKXV EHFRPHV LQ &KHVQXWWnV IRUPXODWLRQ D ZKLWH PDQnV QLJJHU EHFDXVH KH QRW RQO\ DFFHSWV ZKDWHYHU UROH 0DMRU &DUWHUHW ZDQWV KLP WR SOD\ EXW DOVR EHFDXVH KH UHSUHVHQWV QR SRVVLEOH WKUHDW RI GLVUXSWLRQ WR WKH UDFLDO KLHUDUFK\ H[FHSW DFFLGHQWDOO\ DV ZLWK KLV XVH RI WKH VNLQ EOHDFKf 6HH /RWW /RYH DQG 7KHIW 7KH 5DFLDO 8QFRQVFLRXV RI %ODFNIDFH 0LQVWUHOV\ 5HSUHVHQWDWLRQV 6XPPHU f %URGKHDG KLPVHOI QRWHV WKH VXEYHUVLYH QDWXUH RI &KHVQXWWnV FRQMXUH VWRULHV HVSHFLDOO\ WKH ZD\V LQ ZKLFK WKH\ H[SRVH WKHLU RZQ DUWLILFLDOLW\ ,Q WKLV ZD\ &KHVQXWW KRSHG WR GHFRQVWUXFW VRPH RI WKH P\WKRORJ\ LQYROYHG LQ WKH ZRUN RI -RHO &KDQGOHU +DUULV DQG 7KRPDV 1HOVRQ 3DJH EXW DV %URGKHDG PDNHV FOHDU &KHVQXWWnV DXGLHQFH ODFNHG WKH VDYY\ WR VHH KLV SDURGLH VLJQLI\LQJf 2Q WKH TXHVWLRQ RI DXGLHQFH 5D\PRQG +HGLQ K\SRWKHVL]HV WKDW D PLVXQGHUVWDQGLQJ ZKLWH UHDGHU LV DFWXDOO\ WKH DXGLHQFH WKDW &KHVQXWW QHHGV EHFDXVH VXFK D UHDGHU FDQ EH D YHKLFOH WKURXJK ZKRVH JDSV LQ SHUFHSWLRQ WKH WDOHV FDQ VHHS GDPDJHG EXW UHFRYHUDEOH f +HGLQ DUJXHV WKDW WKHVH PLVUHDGHUV FDUU\ ZLWK WKHP WKH VHHGV RI D VXEYHUVLYH FRXQWHUUHDGLQJ HYHQ WKRXJK &KHVQXWW FDQQRW DQWLFLSDWH DQ DXGLHQFH FDSDEOH RI FRPSUHKHQGLQJ LW ,Q &KHVQXWWnV LQFRUSRUDWLRQ LQWR KLV WDOHV RI WKH FRPSOH[ XQVSRNHQ QHJRWLDWLRQV EHWZHHQ WHOOHU DQG DXGLHQFH DQG LQ KLV XVH RI WKRVH QHJRWLDWLRQV WR VXJJHVW WKH UHODWLRQVKLS EHWZHHQ UDFH DQG UHODWLYH QDUUDWLYH SRVVLELOLWLHV KLV ILFWLRQ SURYLGHV D UHOHYDQW JORVV RQ WKH VWDWXV RI EODFN VWRU\ DQG YRLFH DW WKH WXUQ RI WKH FHQWXU\ +LV VWRULHV DUH H[SHULPHQWV LQ ILQGLQJ RU FUHDWLQJ D UHDGHUVKLS ZKRVH H[LVWHQFH KH KDG QR UHDVRQ WR VXSSRVH LV WKHUH WKH\ DVN VRPHRQH RXW WKHUH ZKR FDQ

PAGE 275

VHH DQG DFFHSW PRUH WKDQ WKH FKDUDFWHUV LQ KHUH LQ WKH $PHULFD NQRZ WRR ZHOO" f (YHQ +HGLQ KDV WR FRQFHGH KRZHYHU WKDW &KHVQXWWnV VWUDWHJ\ RI FUHDWLQJ D UHDGHUVKLS ZLOOLQJ WR DFFHSW GHSLFWLRQV RI EODFNV RWKHU WKDQ WUDGLWLRQDO SODQWDWLRQ GDUNLHV &KHVQXWWnV RZQ KRSH DV H[SUHVVHG LQ KLV MRXUQDOf PHW ZLWK OLPLWHG VXFFHVV ,Q WKH VDPH ZD\ WKDW +DUSHU HPSOR\HG D WUDGLWLRQDO JHQUH URPDQFHf WR WU\ WR FUHDWH D UHDGHUVKLS IRU $IULFDQ $PHULFDQ KLVWRU\ DQG FXOWXUH &KHVQXWW WRR XWLOL]HG D SRSXODU JHQUH UHJLRQDOLVP RU ORFDO FRORUf WR GR WKH VDPH WKLQJ :KHQ KLV HIIRUWV VHHPHG WR IDLO KH WXUQHG WR WKH PRUH UDGLFDO IRUP RI WKH VRFLDO SURWHVW QRYHO HVSHFLDOO\ ZLWK 7KH 0DUURZ RI 7UDGLWLRQ 6HH +HGLQ 3UREDEOH 5HDGHUV 3RVVLEOH 6WRULHV 7KH /LPLWV RI 1LQHWHHQWK&HQWXU\ %ODFN 1DUUDWLYH LQ 5HDGHUV LQ +LVWRU\ HG -DPHV / 0DFKRU %DOWLPRUH 7KH -RKQV +RSNLQV 8QLYHUVLW\ 3UHVV f SS $V +HOHQ &KHVQXWW SRLQWV RXW LQ KHU ELRJUDSK\ RI KHU IDWKHU 7KH 0DUURZ RI 7UDGLWLRQnV SXEOLFDWLRQ LQ 2FWREHU FRLQFLGHG ZLWK 3UHVLGHQW 7KHRGRUH 5RRVHYHOWnV LQYLWDWLRQ WR %RRNHU 7 :DVKLQJWRQ WR KDYH GLQQHU DW WKH :KLWH +RXVH DQ LQYLWDWLRQ URXQGO\ FULWLFL]HG LQ WKH 6RXWKf +RXJKWRQ 0LIIOLQ DQG &RPSDQ\ 0DUURZnV SXEOLVKHU SXW RQ D ELJ SXEOLFLW\ EOLW] EXW WKH VDOHV RI WKH QRYHO ZHUH VWLOO GLVDSSRLQWLQJ &KHVQXWW H[SUHVVHG KLV IUXVWUDWLRQ LQ D OHWWHU WR WKH SXEOLVKHUV GDWHG 'HFHPEHU DP EHJLQQLQJ WR VXVSHFW WKDW WKH SXEOLF DV D UXOH GRHV QRW FDUH IRU ERRNV LQ ZKLFK WKH SULQFLSDO FKDUDFWHUV DUH FRORUHG SHRSOH RU ZULWWHQ ZLWK D VWULNLQJ V\PSDWK\ ZLWK WKDW UDFH DV FRQWUDVWHG ZLWK WKH ZKLWH UDFH ,I D QRYHO ZKLFK LV JHQHUDOO\ DFNQRZOHGJHG WR EH LQWHUHVWLQJ GUDPDWLF ZHOO FRQVWUXFWHG ZHOO ZULWWHQf§ ZKLFK JXDOLWLHV KDYH EHHQ SUHWW\ JHQHUDOO\ DVFULEHG WR 7KH 0DUURZ RI 7UDGLWLRQ RI ZKLFK LQ DGGLWLRQ ERWK WKH DXWKRU DQG SXEOLVKHUV KDYH JRRG KRSHVf§FDQQRW VHOO FRSLHV ZLWKLQ WZR PRQWKV DIWHU LWV SXEOLFDWLRQ WKHUH PXVW EH VRPHWKLQJ UDGLFDOO\ ZURQJ VRPHZKHUH DQG GR QRW NQRZ ZKHUH LW LV XQOHVV LW EH LQ WKH VXEMHFW TXRWHG LQ + &KHVQXWW f ,Q IDFW WKH SRRU VDOHV RI 7KH 0DUURZ RI 7UDGLWLRQ DV ZHOO DV WKH KXJH SRSXODULW\ RI D ZULWHU OLNH 7KRPDV 'L[RQ EDVLFDOO\ HQGHG &KHVQXWWnV FDUHHU DV D IXOOWLPH ZULWHU +H ZHQW EDFN WR KLV VWHQRJUDSK\ EXVLQHVV LQ &OHYHODQG WR VXSSRUW KLV IDPLO\ 6HH +HOHQ 0 &KHVQXWW &KDUOHV :DGGHOO &KHVQXWW 3LRQHHU RI WKH &RORU /LQH &KDSHO +LOO 7KH 8QLYHUVLW\ RI 1RUWK &DUROLQD 3UHVV f SS

PAGE 276

0DUMRULH *HRUJH DQG 5LFKDUG 6 3UHVVPDQ GRLQJ D -XQJLDQ UHDGLQJ RI 7KH 0DUURZ RI 7UDGLWLRQ VXJJHVW WKDW -RVK *UHHQ DQG -DQHW 0LOOHU UHSUHVHQW D VKDGRZ SUHVHQFH RI ELWWHUQHVV LQ WKH WH[W WKDW &KHVQXWW FRXOG QRW UHSUHVV ,Q WKHLU YLHZ &KHVQXWWnV XVH RI :LOOLDP 0LOOHU DV D NLQG RI KDUPRQL]LQJ SUHVHQFH GRHV QRW RIIVHW WKH VKDGRZ HYHQ WKRXJK -RVK *UHHQ JHWV NLOOHG RII LQ WKH ULRW %HFDXVH RI WKH SUHVVXUHV IURP ZKLWH VRFLHW\ &KHVQXWW ZDV VR VWURQJO\ FRPPLWWHG WR KLV UDWLRQDO PRXWKSLHFH 0LOOHU WKDW KH KDG QR ZD\ WR H[SUHVV GLUHFWO\ WKH SUHVVXULQJ QHHGV RI KLV RZQ VKDGRZf§WKH LQHYLWDEOH DQJHU RYHU WKH UHSUHVVLRQ RI EODFNV %XW &KHVQXWWnV LUUHSUHVVLEOH VKDGRZ HPHUJHV LQ WKH -RVK *UHHQ ZKRP 0LOOHU DQG &KHVQXWW FDQQRW UHDOO\ GLVPLVV DQG LQ WKH -DQHW ZKR DV DQ DOWHU HJR H[SUHVVHV &KHVQXWWnV GHHS VHDWHG GHVLUH IRU UHFRJQLWLRQ HTXDOLW\ DQG LQGHSHQGHQFH *HRUJH t 3UHVVPDQ f 7KLV YLHZ UXQV FRXQWHU WR SUHGRPLQDQW FULWLFDO RSLQLRQ ZKLFK SHUFHLYHV -RVK *UHHQ DV WKH EODFN FRXQWHUSDUW WR 0F%DQH WKH\ V\PEROLFDOO\ NLOO RQH DQRWKHU GXULQJ WKH FOLPDFWLF VFHQH RI WKH ULRWf ERWK H[WUHPHV WKDW QHHG WR EH HOLPLQDWHG WR SURGXFH D EHWWHU SRVVLELOLW\ IRU UDFLDO KDUPRQ\ 6HH *HRUJH DQG 3UHVVPDQ &RQIURQWLQJ WKH 6KDGRZ 3V\FKR3ROLWLFDO 5HSUHVVLRQ LQ &KHVQXWWnV 7KH 0DUURZ RI 7UDGLWLRQ 3K\ORQ f f0LOOHUnV IRUJHWWLQJ PLJKW ZHOO IRUP SDUW RI D VWUDWHJ\ E\ &KHVQXWW RI KLJKOLJKWLQJ WKH LOORJLFDOLW\ RI FLWL]HQVKLS DQG QDWLRQDO LGHQWLW\ +RPL %KDEKD KDV DUJXHG WKDW VXFK DQ LGHQWLILFDWLRQV HQIRUFLQJ D KRPRJHQHLW\ RI WKLQNLQJ DQG EHLQJ LQ WKH QDWLRQ UHTXLUHV D IRUJHWWLQJ RI FHUWDLQ GLVFRXUVHV ZKLFK PLJKW GLVUXSW WKH QDWLRQDO QDUUDWLYH ,W LV WKURXJK WKLV V\QWD[ RI IRUJHWWLQJf§RU EHLQJ REOLJHG WR IRUJHWf§WKDW WKH SUREOHPDWLF LGHQWLILFDWLRQ RI D QDWLRQDO SHRSOH EHFRPHV YLVLEOH 7KH QDWLRQDO VXEMHFW LV SURGXFHG LQ WKDW SODFH ZKHUH WKH GDLO\ SOHELVFLWHf§WKH XQLWDU\ QXPEHUf§FLUFXODWHV LQ WKH JUDQG QDUUDWLYH RI WKH ZLOO +RZHYHU WKH HTXLYDOHQFH RI ZLOO DQG SOHELVFLWH WKH LGHQWLW\ RI SDUW DQG ZKROH SDVW DQG SUHVHQW LV FXW DFURVV E\ WKH REOLJDWLRQ WR IRUJHW RU IRUJHWWLQJ WR UHPHPEHU %KDEKD f 7KH FRQWLQXLW\ RI WKH KLVWRU\ RI WKH QDWLRQ DV ZHOO DV WKH VWUXFWXULQJ SULQFLSOH RI WKDW KLVWRU\ IRU WKH QDWLRQ UHOLHV XSRQ DQ H[FOXGLQJ RI VRPH KLVWRULHV VRPH SDUWV WKDW GR QRW FRQGXFH WR ZKROHQHVV &KHVQXWWnV FKRLFH RI FORVXUH VWDUNO\ GLVSOD\V WKH IRUJHWWLQJ WKDW :LOOLDP 0LOOHU DQG DOO $IULFDQ $PHULFDQVf PXVW HQGXUH DQG SDUWLFLSDWH LQ LQ RUGHU WR FUHDWH DQG UHFUHDWH WKH QDWLRQ 0LOOHUnV FKLOG PXVW EH IRUJRWWHQ

PAGE 277

DQG 'RGLH &DUWHUHW PXVW EH VDYHGf IRU WKLV QDUUDWLYL]DWLRQ RI QDWLRQ WR FRQWLQXH 6HH %KDEKD 'LVVHPL1DWLRQ WLPH QDUUDWLYH DQG WKH PDUJLQV RI WKH PRGHUQ QDWLRQ LQ 1DWLRQ DQG 1DUUDWLRQ HG +RPL %KDEKD /RQGRQ 5RXWOHGJH f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f§RU QLJKWPDUHVf§RI $PHULFDQ FXOWXUDO P\WKRORJ\ DV WKH PDQLIHVW FRQWHQW RI $PHULFDQ OLIH f 7KH WUDQVYHVWLWH IRUFHV D UHFRQVLGHUDWLRQ RI WKH FXOWXUDO PDSSLQJ RI WKH QDWLRQ 7KH WHUULWRU\ WKDW KDG SUHYLRXVO\ EHHQ WKRXJKW VHFXUH QRZ GHPDQGV D UHFRQILJXUDWLRQ RI LWV SHUFHLYHG ERUGHUV %HOWRQnV FURVVGUHVVLQJ H[SRVHV WKH KDUGHQHG WD[RQRPLF ERUGHUV RI WKH PDS WKDW *ULJJV FRQWHVWHG LQ 7XPHULXP LQ 7PQHULR *ULJJV XVHV WKLV PRPHQW RI WUDQVYHVWLVP WR H[SRVH KRZ GHSHQGHQW WKH ERUGHUV RI QDWLRQ DV FRQFHLYHG E\ ZKLWHV DUH RQ WKH IDWDO OLPLWDWLRQ RI FODVVLILFDWLRQ DV VHJUHJDWLRQ 6HH *DUEHU 9HVWHG ,QWHUHVWV &URVV'UHVVLQJ t &XOWXUDO $Q[LHW\ 1HZ
PAGE 278

DWWHPSWHG E\ *ULJJV 6HH %HUODQW 7KH 4XHHQ RI $PHULFD *RHV WR :DVKLQJWRQ &LW\ +DUULHW -DFREV )UDQFHV +DUSHU $QLWD +LOO LQ 6XEMHFWV DQG &LWL]HQV 1DWLRQ 5DFH DQG *HQGHU IURP 2URRQRNR WR $QLWD +LOO HGV 0LFKDHO 0RRQ DQG &DWK\ 1 'DYLGVRQ 'XUKDP 'XNH 8QLYHUVLW\ 3UHVV f SS ")RU KLVWRULFDO SHUVSHFWLYH RQ 'L[RQnV XVH RI WKH LPDJH RI WKH EODFN UDSLVW VHH -DPHV .LQQH\ 7KH 5KHWRULF RI 5DFLVP 7KRPDV 'L[RQ DQG WKH n'DPQHG %ODFN %HDVWn $PHULFDQ 7LWHUDUY 5HDOLVP $XWXPQ f 7KH FRQIODWLRQ RI SROLWLFDO DQG VH[XDO DJJUHVVLRQ RQ WKH SDUW RI EODFNV IRUPV WKH EDVLV RI 0DUWKD +RGHVn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f§DQG VHL]HG RSSRUWXQLWLHVf§QHYHU EHIRUH DYDLODEOH WR WKHP (YHU\ IRUP RI SRZHU H[HUFLVHG E\ EODFN PHQ ZKHWKHU LQ WKH SROLWLFDO DUHQD RI VWDWH FRQYHQWLRQV FRQFHUQHG ZLWK VXIIUDJH DQG OHJDO HTXDOLW\ RU LQ WKH GRPHVWLF VSKHUH RYHU EODFN ZRPHQ PHDQW D SDUDOOHO ORVV RI SRZHU IRU ZKLWH PHQ f &KDUOLH *DVWRQnV GHVLUH WR UHVWRUH D ZKLWH PDQnV JRYHUQPHQW JHWV FRGHG DV EHQHILFLDO WR ERWK ZKLWHV DQG EODFNVf§ZKLWHV JHW UHVWRUHG WR IXOO SROLWLFDO SRZHU DQG EODFNV E\ RQFH DJDLQ VXEPLWWLQJ WR WKH VXSHULRULW\ RI WKH $QJOR6D[RQ JHW SURWHFWHG IURP WKH NLQG RI O\QFK PREV WKDW H[HFXWHG 'LFN 6HH +RGHV 7KH 6H[XDOL]DWLRQ RI 5HFRQVWUXFWLRQ 3ROLWLFV :KLWH :RPHQ DQG %ODFN 0HQ LQ WKH 6RXWK DIWHU WKH &LYLO :DU LQ $PHULFDQ 6H[XDO 3ROLWLFV 6H[ *HQGHU DQG 5DFH 6LQFH WKH &LYLO :DU HGV -RKQ & )RQW DQG 0DXUD 6KDZ 7DQWLOOR &KLFDJR 8QLYHUVLW\ RI &KLFDJR 3UHVV f SS &ULWLFV OLNH %HUQDUG : %HOO DQG $UOHQH (OGHU DJUHH ZLWK VXFK DQ LQWHUSUHWDWLRQ )RU %HOO ,PSHULXP LQ ,PSHULR YLHV ZLWK >0DUWLQ 'HODQH\nV@ %DNH DV WKH PRVW WKHPDWLFDOO\ UDGLFDO $IUR$PHULFDQ QRYHO RI WKH QLQHWHHQWK FHQWXU\ f WKRXJK %HOO FRQFHGHV WKDW *ULJJVnV ILQDO VROXWLRQ WR WKH TXHVWLRQ RI UDFH UHODWLRQV LV PRUH PRGHUDWH f (OGHU QRWLQJ WKDW WKH PRUH PRGHUDWH %HOWRQ 3LHGPRQW JHWV H[HFXWHG E\ DJHQWV RI WKH ,PSHULXP VXJJHVWV WKDW *ULJJVnV QRYHO LV D FDXWLRQDU\

PAGE 279

WDOH IRU $IULFDQ$PHULFDQ UHDGHUV 7KH KRSH IRU UDFLDO XQLW\ DQG SUJUHVV VHHPV WKHUHIRUH IDUWKHU DZD\ WKDQ HYHU EHFDXVH RI WKH %ODFNVn RZQ EOLQGQHVV LQ DOORZLQJ KDWUHG RI ZKLWHV WR GXSH WKHP LQWR IROORZLQJ D VHOIVHUYLQJ XQWUXVWZRUWK\ OHDGHU f 1HYHUWKHOHVV (OGHU DVVHUWV WKDW *ULJJV XUJHV &KULVWLDQ IRUEHDUDQFH VDFULILFH DQG KRSH 6HH %HOO 7KH $IUR$PHULFDQ 1RYHO DQG 7WV 7UDGLWLRQV $PKHUVW 8QLYHUVLW\ RI 0DVVDFKXVHWWV 3UHVV SS DQG (OGHU 7KH +LQGHUHG +DQG :HVWSRUW &RQQHFWLFXW *UHHQZRRG 3UHVV f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f *ULJJV VHHPV WR XQGHUVWDQG WKDW WR SURSHUO\ FKDUW WKH $IULFDQ $PHULFDQ SUHVHQFH LQ $PHULFD D QHZ NLQG RI PDS KDG WR EH FUHDWHGf§RQH WKDW IDFLOLWDWHG LPPHGLDWH IDFHWRIDFH FRQWDFWV DQG IRUFHG D UHFRJQLWLRQ RI WKH SHRSOH LQ WKH ODQGVFDSHf§VRPHWKLQJ WKDW WKH 6WRZH 8QLYHUVLW\ PDS ZLWK LWV EODFN GRWV DYRLGHG GRLQJ ,Q WKLV ZD\ *ULJJV VHHNV D PDS WKDW DOORZV IRU D FXOWXUDOO\ DQG KLVWRULFDOO\ ORFDWHG FULWLTXH RI FRORQLDO GLVFRXUVH ZKLOH DW WKH VDPH WLPH SURGXFLQJ WKH PRPHQWXP IRU D SURMHFWLRQ DQG H[SORUDWLRQ RI nQHZ WHUULWRULHVn RXWODZHG RU QHJOHFWHG E\ GRPLQDQW GLVFRXUVHV +XJJDQ f 6HH +DUOH\ 0DSV NQRZOHGJH DQG SRZHU LQ 7KH ,FRQRJUDSK\ RI /DQGVFDSH HGV 'HQLV &RVJURYH t 6WHSKHQ 'DQLHOV &DPEULGJH &DPEULGJH 8QLYHUVLW\ 3UHVV f SS DQG *UDKDP +XJJDQ 'HFRORQL]LQJ WKH 0DS 3RVW&RORQLDOLVP 3RVW6WUXFWXUDOLVP DQG WKH &DUWRJUDSKLF &RQQHFWLRQ $ULHO f 7KH LVVXH RI PDQOLQHVV LV PXOWLOD\HUHG *DLO %HGHUPDQ GLVFXVVHV WKH FKDQJLQJ FRQFHSWLRQ RI PDQOLQHVV LQ WKH 6RXWK DW WKH WXUQ RI WKH FHQWXU\ LQ FRQQHFWLRQ ZLWK WKH LVVXH RI O\QFKLQJ ([DPLQLQJ WKH UKHWRULF HPSOR\HG E\ ,GD % :HOOV LQ KHU FDPSDLJQ DJDLQVW O\QFKLQJ %HGHUPDQ SRLQWV RXW WKDW ZKHQ :HOOV DWWDFNHG ZKLWH O\QFKHUV DV XQPDQO\ D QHZ FRQFHSWLRQ

PAGE 280

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nV FORVHQHVV WR QDWXUH 7KH PDVFXOLQH VWUHQJWK RI WKH QDWXUDO PDQ ZDV WKH VRUW RI VWUHQJWK ZKLFK DOO PHQ KDGf§FLYLOL]HG DQG VDYDJH +HUH ZDV D VWUHQJWK EDVHG QRW RQ PDQO\ VHOIFRQWURO EXW RQ PDVFXOLQH LQVWLQFW f ,Q %HGHUPDQnV PLQG WKLV UKHWRULF RI WKH QDWXUDO PDQ FRXQWHUPDQGHG :HOOVnV FKDUJHV RI WKH XQPDQOLQHVV RI O\QFKHUV E\ RIIHULQJ DQ DOWHUQDWLYH YHUVLRQ RI PDVFXOLQLW\ ZKLFK VWLOO EHVSRNH RI SRZHU 0\ RZQ DUJXPHQW H[WUDSRODWLQJ IURP %HGHUPDQnV FRQWHQWLRQV LV WKDW QDWLRQ UHSUHVHQWHG WKH XOWLPDWH H[SUHVVLRQ RI FLYLOL]HG DQG KHQFH ZKLWH PDQOLQHVV )RU 'L[RQ QDWLRQ ZDV D FRQFHSW WRWDOO\ DOLHQ WR SHRSOH RI FRORU DQG KH IUHTXHQWO\ DQG IRQGO\f FLWHG 6DQWR 'RPLQJR DQG +DLWL DV H[DPSOHV RI WKH ZD\ LQ ZKLFK QDWLRQV FRXOG QRW EH FRQVWUXFWHG E\ EODFNV 6HH %HGHUPDQ 0DQOLQHVV t &LYLOL]DWLRQ &KLFDJR 8QLYHUVLW\ RI &KLFDJR 3UHVV f SS

PAGE 281

&21&/86,21 -XGJLQJ WKH FRPSHWLWLRQ EHWZHHQ *ULJJVnV DQG 'L[RQnV UHVSHFWLYH FRQFHSWV RI QDWLRQ VROHO\ RQ WKH EDVLV RI QXPEHU RI ERRNV VROG 'L[RQ ZDV WKH FOHDU ZLQQHU *ULJJVnV SULYDWH SXEOLVKLQJ KRXVH PDUNHWHG WR D YHU\ VPDOO EODFN UHDGLQJ SXEOLF ,Q IDFW ,PSHULXP LQ ,PSHULR ZDV ODUJHO\ LJQRUHG E\ EODFN DV ZHOO DV ZKLWH DXGLHQFHV 'L[RQ ZRUNLQJ ZLWK KLV ROG IULHQG :DOWHU +LQHV 3DJH RQH KDOI RI 'RXEOHGD\ 3DJH 3XEOLVKHUV VROG FRSLHV RI 7KH /HRSDUGnV 6SRWV LQ WKH ILUVW WKUHH PRQWKV (YHQWXDOO\ PRUH WKDW D PLOOLRQ FRSLHV RI WKH QRYHO ZHUH VROG &RRN f 'L[RQnV QH[W QRYHO 7KH FODQVPDQ VROG QHDUO\ DV ZHOO DQG 'L[RQ SURGXFHG D VWDJH SOD\ DQG WKH VFULSW IRU ZKDW EHFDPH : *ULIILWKnV ILOP %LUWK RI D 1DWLRQ IURP WKDW ERRN &OHDUO\ WKHQ 'L[RQnV VHJUHJDWLRQLVW LGHDV IRXQG D ODUJH V\PSDWKHWLF DXGLHQFH DQG FLUFXODWHG ZLGHO\ LQ WXUQRIWKHFHQWXU\ $PHULFDQ FXOWXUH ,Q IDFW 'L[RQnV HIIRUWV WR UHLPDJLQH WKH 6RXWKHUQ SDVW DQG UHPDS WKH 6RXWKHUQ QDWLRQ UHFHLYHG VXSSRUW IURP XQH[SHFWHG TXDUWHUV ,Q DQ DGGUHVV DW )LVN 8QLYHUVLW\ LQ 1DVKYLOOH LQ -XQH &KDUOHV ( 6WRZH VRQ RI +DUULHW %HHFKHU 6WRZH ORRNHG EDFN RQ VODYH WLPHV ZLWK PRUH IRQGQHVV WKDQ KLV PRWKHU HYHU HYLQFHG 6RPHWLPHV WKH TXHVWLRQ LV DVNHG :HUH QRW WKH VODYHV EHWWHU RII XQGHU VODYHU\ WKDQ WKH\ DUH QRZ XQGHU

PAGE 282

IUHHGRP" ; WKLQN D FDQGLG DQVZHU WR WKDW TXHVWLRQ GHPDQGV XV WR VD\ WKDW VRPH ZHUH EHWWHU RII XQGHU VODYHU\ WKDQ WKH\ DUH XQGHU IUHHGRP 7KH DEROLWLRQ RI VODYHU\ DFWHG RQ WKH FRORUHG UDFH OLNH D ZHGJH IRUFLQJ VRPH GRZQ DQG VRPH XS +RQHVW &RQIHVVLRQ *RRG IRU WKH &RXQWU\ f 6WRZH FRQFHGHG WKDW VRPH EODFNV KDG ULVHQ EXW KH UHLQWHUSUHWV KLV PRWKHUnV PRVW IDPRXV ZRUN WR DUJXH WKDW VODYHU\ KDG QRW EHHQ FRPSOHWHO\ HYLO &HUWDLQO\ VXFK NLQGO\ IHHOLQJ EHWZHHQ PDVWHU DQG VODYH VKRZV WKDW WKHUH PXVW KDYH EHHQ VRPHWKLQJ JRRG LQ WKH LQVWLWXWLRQ RI VODYHU\ f (YHQ 'L[RQnV FRQFHSWLRQ RI WKH QHFHVVLW\ IRU WZR QDWLRQV IRXQG UKHWRULFDO UHVRQDQFH ODWHU LQ WKH WK FHQWXU\ ,Q -XQH 3UHVLGHQW /\QGRQ -RKQVRQ WROG D FRPPHQFHPHQW DXGLHQFH DW +RZDUG 8QLYHUVLW\ WKDW UDFLDO DQG HFRQRPLF VWUDWLILFDWLRQ KDG FUHDWHG VHSDUDWH $PHULFDQ QDWLRQV ,Q IDU WRR PDQ\ ZD\V $PHULFDQ 1HJURHV KDYH EHHQ DQRWKHU QDWLRQ GHSULYHG RI IUHHGRP FULSSOHG E\ KDWUHG WKH GRRUV RI RSSRUWXQLW\ FORVHG WR KRSH 5DLQZDWHU DQG
PAGE 283

VFRXUJH *ULJJV FODLPHG LQ WKH $IWHUZRUG WR KLV IRXUWK QRYHO 7KH +LQGHUHG +DQG SXEOLVKHG LQ DV D GLUHFW UHVSRQVH WR 7KH /HRSDUGnV 6RRWV *ULJJV RIIHUHG D SRVVLEOH HSLWDSK IRU 'L[RQnV JUDYH 7KLV PLVJXLGHG VRXO LJQRUHG DOO RI WKH JRRG LQ WKH DVSLULQJ 1HJUR PDGH HYHU\ YLFLRXV RIIVKRRW WKDW KH SLFWXUHG W\SLFDO RI WKH HQWLUH UDFH SUHVHQWHG DOO PLVWDNHV LQGHSHQGHQW RI WKHLU HQYLURQPHQWV DQG SURYRFDWLRQV LJQRUHG RU PLQLPL]HG DOO WKH HYLO LQ WKH PRUH YLFLRXV HOHPHQW RI ZKLWHV VDLG DQG GLG DOO WKLQJV ZKLFK KH GHHPHG QHFHVVDU\ WR OHDYH EHKLQG KLP WKH JUHDWHVW KHULWDJH RI KDWUHG WKH ZRUOG KDV HYHU NQRZQ +XPDQLW\ FODLPV KLP QRW DV RQH RI KHU FKLOGUHQ I7KH +LQGHUHG +DQG f *ULJJV ZRXOG ZULWH RQO\ RQH PRUH QRYHO 8QIHWWHUHG SXEOLVKHG LQ EHIRUH GHYRWLQJ KLV IXOO DWWHQWLRQ WR KLV PLQLVWU\ 'HVSLWH 'L[RQnV VXFFHVV *ULJJV PDLQWDLQHG KLV HIIRUW DW UHVLVWDQFH WR WKH HQG $V $UOHQH (OGHU KDV VXJJHVWHG *ULJJVnV SROLWLFDO QDUUDWLYHV WKHQ VHW WKH VWDJH IRU PRGHUQ UDFLDO DQDO\VLV DQG V\PEROLF LQWHUSUHWDWLRQV RI WKH $IULFDQ$PHULFDQV 0RUHRYHU WKH\ SURYLGH %ODFN OLWHUDWXUHnV ILUVW SRUWUDLW RI LQGHSHQGHQW %ODFNV ZKR DUH QHLWKHU WUDGLWLRQDO ILJXUHV QRU FRXQWHUVWHUHRW\SHV (OGHU f ,Q WKLV ZD\ GHVSLWH KLV ODFN RI FRPPHUFLDO VXFFHVV *ULJJV SURYHG WR EH 'L[RQnV FKLHI LGHRORJLFDO ULYDO LQ WXUQRIWKH FHQWXU\ $PHULFDQ OLWHUDWXUH *ULJJV GLG QRW ZULWH PHUHO\ LQ RSSRVLWLRQ WR ZKLWH VXSUHPDFLVWV OLNH 'L[RQ ,QVWHDG KH ZURWH WR FRQYLQFH $IULFDQ $PHULFDQV RI WKHLU UHVSRQVLELOLWLHV LI WKH\ ZHUH WR DVVXPH D OHJLWLPDWH VSDFH LQ $PHULFDQ QDWLRQDO OLIH 7KH IXWXUH SURJUHVV RI WKH 1HJUR UDFH FDOOV IRU DQ DZDNHQLQJ RQ

PAGE 284

WKH SDUW RI SHRSOH WR WKH QHFHVVLW\ RI FXOWLYDWLQJ WKH KDELW RI UHDGLQJ DQG D VWLPXODWLRQ RI WKH DUW RI PDNLQJ OLWHUDWXUH DV LQGLVSHQVDEOH DLGV WR WKH GHYHORSPHQW RI WKH VSLULW RI SDWULRWLVP *ULJJV ZURWH LQ KLV DXWRELRJUDSK\ /LIHnV 'HPDQGV TXRWHG LQ (OGHU f /LNH +DUSHU DQG &KHVQXWW *ULJJV UHFRJQL]HG WKDW WKH FRORQL]DWLRQ RI EODFNV FRXOG EH SHUSHWXDWHG RQO\ LI WKH\ GLG QRW SURGXFH FRXQWHUQDUUDWLYHV WR UHVLVW WKH FLUFXODWLRQ RI VWHUHRW\SHV DQG XQWUXWKV E\ ZULWHUV OLNH 'L[RQ 7KH LJQRULQJ RI EODFN SROLWLFDO YRLFHV KDG DQG WR D ODUJH H[WHQW VWLOO KDVf DV LWV FXOWXUDO FRPSDQLRQ WKH LJQRULQJ RI EODFN OLWHUDU\ YRLFHV 7KH SROLWLFDO DUWLFXODWLRQV RI +DUSHU &KHVQXWW DQG *ULJJV PRVW SDUWLFXODUO\ WKHLU UHVSHFWLYH FRQFHSWLRQV RI QDWLRQ LQIRUP DQG FRQWH[WXDOL]H WKH SROLWLFDO EDWWOHV WKDW $IULFDQ$PHULFDQV FRQWLQXH WR ZDJH DOPRVW RQH KXQGUHG \HDUV ODWHU 127(6 GLVFXVVLQJ WKH KLVWRULRJUDSK\ RI WKH 5HFRQVWUXFWLRQ SHULRG 9HUQRQ / :KDUWRQ SRLQWV RXW WKDW 'L[RQnV QRYHOV IUHTXHQWO\ ZHUH VWDQGDUG DVVLJQHG UHDGLQJV LQ KLVWRU\ FODVVHV LQ KLJK VFKRRO DQG FROOHJH DW WKH WXUQ RI WKH FHQWXU\ ,Q DGGLWLRQ :KDUWRQ DVVHUWV WKDW WKH VWDQGDUG KLVWRU\ RI WKH GD\ &ODXGH %RZHUVnV 7KH 7UDJLF (UD ZDV DV YLROHQW DQG H[WUHPH DV WKH ILFWLRQ RI 'L[RQ DQG >' :@ *ULIILWK ,W EHFDPH D QDWLRQDO EHVWVHOOHU DQG D VHOHFWLRQ RI WKH /LWHUDU\ *XLOG RI $PHULFD f 6HH 9HUQRQ / :KDUWRQ 5HFRQVWUXFWLRQ LQ :ULWLQJ 6RXWKHUQ +LVWRU\ HGV $UWKXU 6 /LQN DQG 5HPEHUW : 3DWULFN %DWRQ 5RXJH /RXLVLDQD 6WDWH 8QLYHUVLW\ 3UHVV f SS

PAGE 285

:25.6 &,7(' $EERWW 0DUWLQ HG $ 6RXWKHUQHU 9LHZV WKH 6RXWK /HWWHUV RI +DUYH\ 0 :DWWHUVRQ 9LUJLQLD 0DJD]LQH RI +LVWRU\ DQG %LRJUDSK\ 2FWREHU f $OWKXVVHU /RXLV ,GHRORJ\ DQG ,GHRORJLFDO 6WDWH $SSDUDWXVHV LQ &RQWHPSRUDU\ &ULWLFDO 7KHRU\ HG 'DQ /DWLPHU 1HZ
PAGE 286

%DNHU 5D\ 6WDQQDUG 7KH &DSWXUH 'HDWK DQG %XULDO RI -A :LONHV %RRWK &KLFDJR 7KH 3RRU 5LFKDUG 3UHVV %D\P 1LQD :RPDQnV )LFWLRQ $ *XLGH WR 1RYHOV %Y DQG $ERXW :RPHQ LQ $PHULFD 8UEDQD 8QLYHUVLW\ RI ,OOLQRLV 3UHVV %HGHUPDQ *DLO 0DQOLQHVV DQG &LYLOL]DWLRQ &KLFDJR 7KH 8QLYHUVLW\ RI &KLFDJR 3UHVV %HOO %HUQDUG : 7KH $IUR$PHULFDQ 1RYHO DQG 7WV 7UDGLWLRQV $PKHUVW 8QLYHUVLW\ RI 0DVVDFKXVHWWV 3UHVV %HUODQW /DXUHQ 7KH 4XHHQ RI $PHULFD *RHV WR :DVKLQJWRQ &LW\ +DUULHW -DFREV )UDQFHV +DUSHU $QLWD +LOO LQ 6XEMHFWV t &LWL]HQV 1DWLRQ 5DFH DQG *HQGHU IURP 2URRQRNR WR $QLWD +LOO HGV 0LFKDHO 0RRQ DQG &DWK\ 1 'DYLGVRQ 'XUKDP 'XNH 8QLYHUVLW\ 3UHVV f %KDEKD +RPL 'LVVHPL1DWLRQ 7LPH 1DUUDWLYH DQG WKH 0DUJLQV RI WKH 0RGHUQ 1DWLRQ LQ 1DWLRQ DQG 1DUUDWLRQ HG +RPL %KDEKD /RQGRQ 5RXWOHGJH f %LNOH /XF\ /HIILQJZHOO *HRUJH : &DEOH 1HZ
PAGE 287

*HQGHU 7URXEOH )HPLQLVP DQG WKH 6XEYHUVLRQ RI ,GHQWLW\ 1HZ
PAGE 288

&RQIHGHUDWH :RPHQ DQG WKH :DU 6RXWKHUQ /LWHUDU\ 0HVVHQJHU $SULO f &RRN 5D\PRQG $OOHQ )LUH IURP WKH )OLQW 7KH $PD]LQJ &DUHHU RI 7KRPDV 'L[RQ :LQVWRQ6DOHP -RKQ ) %ODLU 3XEOLVKHU &XPPLQJ .DWH .DWH 7KH -RXUQDO RI D &RQIHGHUDWH 1XUVH %DWRQ 5RXJH /RXLVLDQD 6WDWH 8QLYHUVLW\ 3UHVV 'DYLV -HIIHUVRQ 7KH 5LVH DQG )DOO RI WKH &RQIHGHUDWH *RYHUQPHQW 1HZ
PAGE 289

(GLWRUnV 7DEOH 6RXWKHUQ /LWHUDU\ 0HVVHQJHU -XQH f (GLWRULDO 1RWHV (WF 'H%RZnV 5HYLHZ $XJXVW f (OGHU $UOHQH $ 7KH +LQGHUHG +DQG &XOWXUDO ,PSOLFDWLRQV RI (DUO\ $IULFDQ$PHULFDQ )LFWLRQ :HVWSRUW &RQQHFWLFXW *UHHQZRRG 3UHVV (OIHQEHLQ $QQD 6KDQQRQ :RPHQ RQ WKH &RORU /LQH &KDUORWWHVYLOOH 8QLYHUVLW\ 3UHVV RI 9LUJLQLD (UQHVW -RKQ )URP 0\VWHULHV WR +LVWRULHV &XOWXUDO 3HGDJRJ\ LQ )UDQFHV ( : +DUSHUnV ,ROD /HUR\ $PHULFDQ 7LLWHUDWXUH 6HSWHPEHU f (YDQV $XJXVWD -DQH %HXODK %DWRQ 5RXJH /RXLVLDQD 6WDWH 8QLYHUVLW\ 3UHVV 0DFDUD RU $OWDUV RI 6DFULILFH %DWRQ 5RXJH /RXLVLDQD 6WDWH 8QLYHUVLW\ 3UHVV VW )LPR 1HZ
PAGE 290

)OHHW %HWV\ HG *UHHQ 0RXQW DIWHU WKH :DU 7KH &RUUHVSRQGHQFH RI 0DULD /RXLVD :DFNHU )OHHWf§DQGf§KHU )DPLO\ &KDUORWWHVYLOOH 8QLYHUVLW\ 3UHVV RI 9LUJLQLD )RVWHU *DLQHV *KRVWV RI WKH &RQIHGHUDF\ 1HZ
PAGE 291

*UHHQEHUJ .HQQHWK 6 7KH 1RVH WKH /LH DQG WKH 'XHO LQ WKH $QWHEHOOXP 6RXWK $PHULFDQ +LVWRULFDO 5HYLHZ f *ULIILWK %HQ : -U HG $ /DG\ 1RYHOLVW 9LHZV WKH 5HFRQVWUXFWLRQ $Q $XJXVWD -DQH (YDQV /HWWHU *HRUJLD +LVWRULFDO 4XDUWHUO\ 0DUFK f *ULJJV 6XWWRQ 7PSHULXP LQ ,PSHULR 6DOHP 1HZ +DPSVKLUH $\HU &RPSDQ\ 3XEOLVKHUV ,QF +DUOH\ % 0DSV .QRZOHGJH DQG 3RZHU LQ 7KH ,FRQRJUDSK\ RI /DQGVFDSH HGV 'HQLV &RVJURYH DQG 6WHSKHQ 'DQLHOV &DPEULGJH &DPEULGJH 8QLYHUVLW\ 3UHVV f +DUORZ %DUEDUD 5HVLVWDQFH /LWHUDWXUH 1HZ
PAGE 292

:DUWLPH 'LDORJXHV RQ ,OOLFLW 6H[ :KLWH :RPHQ DQG %ODFN 0HQ LQ 'LYLGHG +RXVHV *HQGHU DQG WKH &LYLO :DU HGV &DWKHULQH &OLQWRQ DQG 1LQD 6LOEHU 1HZ
PAGE 293

.LQJ *UDFH 0HPRULHV RI D 6RXWKHUQ :RPDQ RI /HWWHUV 1HZ
PAGE 294

0F.LQQH\ -RKQ DQG /LQGD %URRNRYHU %RXUTXH 7KH &KDQJLQJ 6RXWK 1DWLRQDO ,QFRUSRUDWLRQ RI D 5HJLRQ $PHULFDQ 6RFLRORJLFDO 5HYLHZ -XQH f 0F0LOODQ 0DOFROP F 7KH $ODEDPD &RQIHGHUDWH 5HDGHU 8QLYHUVLW\ RI $ODEDPD 3UHVV 0HPRULHV RI WKH :DU 'H%RZnV 5HYLHZ )HEUXDU\ f 0HQNH 3DPHOD *OHQQ &KRSLQnV 6HQVXDO 6HD DQG &DEOHnV 5DYLVKHG /DQG 6H[WV 6LJQV DQG *HQGHU 1DUUDWLYH &URVV5RDGV $ -RXUQDO RI 6RXWKHUQ &XOWXUH )DOO:LQWHU f W )LVVXUH DV $UW LQ .DWH &KRSLQnV $W )DXOW /RXLVLDQD /LWHUDWXUH 6SULQJ f 0HULZHWKHU (OL]DEHWK $YHU\ 5HFROOHFWLRQV RI
PAGE 295

1RUWKHUQ 0LQG DQG &KDUDFWHU 6RXWKHUQ /LWHUDU\ 0HVVHQJHU 1RYHPEHU f 2OVHQ 2WWR + 7KH 7KLQ 'LVJXLVH 7XUQLQJ 3RLQW LQ 1HJUR +LVWRU\ 3OHVV\ Y )HUJXVRQ 1HZ WKH 8QLYHUVLW\ RI 1RUWK &DUROLQD $UFKLYHV RI WKH 6RXWKHUQ )RONOLIH &ROOHFWLRQ@ RI WKH 0DQXVFULSWV 'HSDUWPHQW 8QLYHUVLW\ RI 1RUWK &DUROLQD &KDSHO +LOO 3DJH 7KRPDV 1HOVRQ 7KH 1HDUR 7KH 6RXWKHUQHUnV 3UREOHP 1HZ
PAGE 296

5DLQZDWHU /HH DQG :LOOLDP /
PAGE 297

6FKXOW] -DQH ( 0XWH )XU\ 6RXWKHUQ :RPHQnV 'LDULHV RI 6KHUPDQnV 0DUFK WR WKH 6HH LQ $UPV DQG WKH :RPDQ :DU *HQGHU DQG /LWHUDU\ 5HSUHVHQWDWLRQ HGV +HOHQ 0 &RRSHU $GULHQQH $XVODQGHU 0XQLFK DQG 6XVDQ 0HUULOO 6TXLHU &KDSHO +LOO 8QLYHUVLW\ RI 1RUWK &DUROLQD 3UHVV f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
PAGE 298

7DWH &ODXGLD 'RPHVWLF $OOHJRULHV RI 3ROLWLFDO 'HVLUH 7KH %ODFN +HURLQHnV 7H[W DW WKH 7XUQ RI WKH &HQWXU\ 1HZ
PAGE 299

(PEDWWOHG &RQIHGHUDWHV $Q ,OOXVWUDWHG +LVWRU\ RI 6RXWKHUQHUV DW :DU 1HZ
PAGE 300

%,2*5$3+,&$/ 6.(7&+ 'DYLG 5XVVHOO ZDV ERUQ LQ :DUUHQ 2KLR LQ +H UHFHLYHG KLV % $ LQ OLWHUDWXUH DQG KLVWRU\ IURP 1HZ &ROOHJH LQ 6DUDVRWD )ORULGD LQ +H HDUQHG KLV 0 $ LQ (QJOLVK IURP WKH 8QLYHUVLW\ RI )ORULGD LQ +H LV VLQJOH ZLWK WZR FDWV 2VFDU DQG 0LUH

PAGE 301

, FHUWLI\ WKDW KDYH UHDG WKLV VWXG\ DQG WKDW LQ P\ RSLQLRQ LW FRQIRUPV WR DFFHSWDEOH VWDQGDUGV RI VFKRODUO\ SUHVHQWDWLRQ DQG LV IXOO\ DGHTXDWH LQ VFRSH DQG TXDOLW\ DV D GLVVHUWDWLRQ IRU WKH GHJUHH RI 'RFWRU RI 3KLORVRSK\ FHUWLI\ WKDW KDYH UHDG WKLV VWXG\ DQG WKDW LQ P\ RSLQLRQ LW FRQIRUPV WR DFFHSWDEOH VWDQGDUGV RI VFKRODUO\ SUHVHQWDWLRQ DQG LV IXOO\ DGHJLL6WA LQ VFRSH DQG TXDOLW\ DV D GLVVHUWDWLRQ IRU WKH GHJUHH $QQH $VVRFLDWH 3URIHVVRU (QJOLVK FHUWLI\ WKDW KDYH UHDG WKLV VWXG\ DQG WKDW LQ P\ RSLQLRQ LW FRQIRUPV WR DFFHSWDEOH VWDQGDUGV RI VFKRODUO\ SUHVHQWDWLRQ DQG LV IXOO\ DGHTXDWH LQ VFRSH DQG TXDOLW\ DV D GLVVHUWDWLRQ IRU WKH GHJUHH RI 'RFWRU RI 3KLORVRSK\ 0DOLQL 6FKXHOOHU $VVRFLDWH 3URIHVVRU RI (QJOLVK FHUWLI\ WKDW KDYH UHDG WKLV VWXG\ DQG WKDW LQ P\ RSLQLRQ LW FRQIRUPV WR DFFSHWDEOH VWDQGDUGV RI VFKRODUO\ SUHVHQWDWLRQ DQG LV IXOO\ DGHTXDWH LQ VFRSH DQG TXDOLW\ DV D GLVVHUWDWLRQ IRU WKH GHJUHH RI 'RFWRU RI 3KLORVRSK\ \%URn %HUWUDP :\DW\ %URZQ 5LFKDUG 0LOEDXHU 3URIHVVRU RI +LVWRU\ 7KLV GLVVHUWDWLRQ ZDV VXEPLWWHG WR WKH *UDGXDWH )DFXOW\ RI WKH 'HSDUWPHQW RI (QJOLVK LQ WKH &ROOHJH RI /LEHUDO $UWV DQG 6FLHQFHV DQG WR WKH *UDGXDWH 6FKRRO DQG ZDV DFFHSWHG DV SDUWLDO IXOILOOPHQW RI WKH UHTXLUHPHQWV IRU WKH GHJUHH RI 'RFWRU RI 3KLORVRSK\ 'HFHPEHU 'HDQ *UDGXDWH 6FKRRO

PAGE 302

/'  ‘ II£; 81,9(56,7< 2) )/25,'$ OOOOOOOOOOOOO