The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1902-01-08
The Sick Man of America.

AS the Sultan is '' the sick man OF
Europe so President Castro, of Ven
ezuela, bids fair to become the sick
man of the Western hemisphere. At
all events, Castro is initiating the
Sultan in getting into debt, and in
inventing excuses for not paying.
Both are in such position that the
payment of one debt, so far from
bringing relief, simply makes other
creditors more importunate.
Allusion has already been made IN
these columns to the $40, 900, 600 rail
road debt for which bonds were issued
in 1895. The interest on this is two
or three years in arrear, and of course
there must ultimately be provisions
for paying the principal, though the
payment of the interest due is the
matter in which Castro is Immediately
interested. Not all his, however, is
due to Germans, as about one-thlrd OF
the money was advanced by British
and French capitalists. The British
creditors are quite as anxious to be
paid as the Germans, and hopes are
expressed that Great Britain will take
steps to enforce payment.
But, Germany has also claims
againstssVenezuela for losses incurred
by German subjects as result of the
civil wars in which Venezuela has in
dulged. Civil war is favorite diver
sion in Spanish-American countries,
and is largely done on credit. Even
in this war, it is far from economical.
Military cheiftains are prompt IN
levying forced loans, and are not
scrupulous as to wehther the invol-
untary lenders are citizens or foreign
ers. The career of the leader is often
very short, but the country remains,
and is held responsible for what was
done during the strife. If the Govern
ment de facto were not made response
BILE in such cases there would be no
redress, for Government de jure is
altogether exceptional. Nevertheless,
when the bills come in the adventurer
| in power thinks it very hard that he
should have to pay for the fun that
some other adventurer has had before
him.
There are other claims, however,
growing out of contracts entered into
by the Government of Venezuela with
German merchants for supplies for the
Government itself. Taken altogether,
the sum demanded must be very con-
siderable and it is quite probable that
Castro has the ready money with
which to liquidate them. Meantime
he has rebellion to cope with, which
may prove formidable enough to call
for his undivided attention and all the
material and fnanrial resources which
he can command. 1t is intimated
that Germany may await the outcome
of the existing insurrection. In any
event Germany can only deal with the
Government in power at any partlcu-
lar time, and as reliance will be had
upon the revenues that may be request
ed the personality of the men in power
is not so important. Castro's threats
to make a vigorous resistance can
hardly be taken very seriously, as his
ability to do so is very doubtful
1t is apparent that the patience of
Germany is quite worn out by the
policy of delay which Castro has
adopted. The example Of France in
sending warships to Turkish waters
to enforce French demands is now
likely to be followed by Germany. So
far as may be judged from the indica-
tions this course will be generally ap-
proved by other countries, some OF
which have claims of their own which
they desire to see paid. So long as
the Monroe doctrine is not violated
the Government of the United States
can afford to remain quiet, and of this
Germany has been advised. If the
Germans get their money or security
for its payment there are other nations
which will probably be pressing Vene-
zuela for settlement. Neither Castro
nor Abdul Hamid can fairly expect to
live for an indefinite time at the ex-
pense of the people of other countries.
-Courier-Journal.
IreIand's Industrial Revival.