When Chile found herself in command of the then still Peruvian province of Tarapacá during the War of the Pacific and being subjected to pressure from Peru's creditors, who threatened Chile's credit in Europe if their claims were not met, the Chilean government essentially had two options: to nationalize the industry for Chile (that is to pay the Peruvian debt certificates), or to recognize the holders of the Peruvian debt certificates (which John Thomas North hurried to purchase at knock-down prices) as the owner of the assets. On June 11, 1881 Chile issued a decree in favor of the second option and to enact an export tax upon the export of saltpeter. The Chilean war debts, the impossibility to assume the financial obligations of nitrate certificates and the will to deflate European opposition to the annexation were the reasons to the decree that was criticized in Chile after the war.