Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1902-12-01
TO SATISFY ALL.
Steps Taken to Discharge vene-
zuela's Financial Burdens
In Manner Which Will Re Satisfactory
to All Creditors.
important Action in the Matter Begun
in London.

London. Nov. 29.-The Associated
Press learns that important steps were
taken in London. Friday, with the view
of satisfying all the financial and diplo-
matte claims of foreign powers and
bOndholders against Venezuela. It is
maintained that If the contemplated
action meets with approval. Germany
and Great Britain will have no cause
to take the vigorous steps now con-
templated. The details of the suggest
ed settlement have not yet been COM
municated to the European govern
ments. Their gist will first be made
known to the United States govern
ment. probably. Saturday. The med
ium Of such communication is one of the
most important Anglo-American bank
ers. VeneZuela's propositions were
mentioned to Ambassador Choate, FRI
day. but pending the result of the d.
rect representations at Washington, no
action will be taken by the embassy
towards suggesting that Venezuela be
given time to submit her proposals.
The new development in the crisis.
which is regarded as hourly growing
more serious. is due to the arrival in
Europe Of secret delegation from
the Venezuelan government empower
ed to deal with the outstanding liabil-
tiles Of that republic. Until a suitable
plan was arranged it was considered
inadvisable to communicate with the
foreign ministers at Caracas. with
whom relations have become SO
strained.
Such a plan has now, in the belief Of
~ AL nv~vsvyA NJ
upofhcially. through the Anglo-Ameri-
can banker. the attitude of the United
States will be ascertained. Besides the
state department will be put in posi-
ton to be able to judge of the value of
Venezuela's offer and her good faith in
the matter. 1t is explained that Presi-
dent Castro has hitherto had no op-
portunity of taking up the question OF
national finances. but while he was
himself engaged in suppressing the
revolution he sent to Europe the secret
delegation referred to with the view of
accomplishing what was regarded as
impossible Of execution at Caracas.
Secrecy was also regarded to be i'm
perative in view of President CasurO's
belief that if it had been known that
Venezuela contemplated a new finan-
cial settlement he would have been in
undated with claims of every descrip-
ton and the dealings with the bond
holders would have become twice as
difficult.
The details of the plan which will be
communicated to the state department
are carefully guarded, but The Associa-
ted Press is in a position to announce
that the main feature is a unificatiOn OF
all the outstanding government and
government guaranteed loans upon a
basis of security greater than has
been hitherto offered. It is strenuously
denied that the present movement Is
due to any desire on the part Of Ven
ezuela ito spar for time" with Great
Britain or Germany. and in proof OF
this it is pointed out that the secret
mission left Venezuela before her rela-
tions with Great Britain and Germany
had assumed the present acute aspect.
Should the United States government
gives its moral support, the plan will
be submitted to. American bankers.
The Venezuelan delegation believes that
it is not too late to secure the neces-
sary facilities from Europe to bring
about a settlement satisfactory to all
parties concerned.