The sun., 1895-03-29
Venczucln's Position Onicially dc.
fined.

| We havo before us the message communi-
Gated on Feb 20 to the National Congress
| of Venezuela by Gen. JOAQUIN CREsro,
President OF that republic In this docu-
mcnt Is set forth an authoritative declara-
| tion of the attitude Of the Caracas Govern
ment in relation to it's boundary dispute
with British Guiana, and its guarantee Of
interest on tho money invested by subjects
Of the German empire in certain NeEeH-
uelan railways A temperate and concili
atory tone pervades the statement which Mt
the same time exhibits proper sense of
the dignity OF an American commonwealth,
and of its rightful claim to just and
equitable treatment.
Let us glance first at what the message
says about the railway guarantees. 1t is
| pointed out that former Venezuelan Govern
ments made most liberal concessions to the
companies undertaking to build various
railways this liberality being due partly
to wish to further the progress Of the
country, and partly to reliance on the esti
mates Of the earning power of the projected
lines. Foreign capitalists demanded and
obtained grants Of land, exemptions from
customs duties, and subscriptions on the
part of the Caracas Government to fifth,
and in some cases to fourth, Of the capital
stock. Eventually, on representations that
such a warranty was needed only for the
purpose Of reassurng European investors,
the Government was induced to guarantee
the payment Of the stipulated interest on
moneys invested. The result has been that
the Venezuela eNchequer has had to bear, in
the case Of some railways, the whole of the
iptarasf ri I'm md n ba ,,f ptharu N
large part OF it, besides buying that part of
the capital stock for which it subscribed.
That these railway contracts have placed
the Caracas Government in very grave fis-
cal straits is undeniabe: but not on that
account does President CREsPU recommend
the reputation or even the postponement of
any of its obligations. On the contrary, he
urges the Congress- in the name OF the ma
tional credit, to see to it that all obligations
are punctually met, and he announces that
comprehensive fiscal project, involving
doubtless a refunding of the public debt,
will be presently laid before the Chambers
With regard to the boundary question,
President CREsPo shows that the efforts to
settle it are unremitting, and are marked by
an energy commensurate to the Importance
OF its bearing on the republics future. Not
only has England been necessarily pressed to
permit the frontier of British Guiana to be
defined by arbitrators, but the intercession
of other powers to that end has been ear
nestly solicited. Pope LEO Kill, for in
stance. has been requested to mediate. and
he has willingly consented to appeal to Eng
land on behalf OF Nenezuelas proposal that
the territorial dispute shall be referred to
an internat tonui tribunal. 1t is evident,
however, that President CREsPO counts most
upon the friendly offices which the CLEvE-
LAND Administration is bound to extend in
compliance with resolution of the Fifty
third Congress. We trust that his reliance
on the fidelity of orr present Executive to
the MONROE doctrine will be justified by
the event; but SO long rs Mr.. CLEVELAND
remains President of the United States, it
will he well for Venezuela to take measures
for self-drfrnce. THIS rs We learn from her
Chief Magistrate, She las resolved to do
Troops have been despatched to The frontier,
III order that, pending the regulation of
the boundary by an impartial tribunal the
inhabitants of British Guiana may be pre-
vented from making any furthct encroach-
ments upon Venezuelan territory.