Staunton spectator and vindicator. [volume] (Staunton, Va.) 1896-1916, 1902-12-26
WASHINGTON LETTER.
tFrom our Regular Cores ponden.., =

Washington, Dec. 22.-The concen-
sus Of opinion. when Congress adjourn
ed on Saturday, was that the Vene-
zuelan affair was on the highroad to a
peaceful settlement and friends of the
administration were loud in their
praises OF Secretary Hays diplomacy.
1t is remarked by democratic states
men, however, that Secretary Hay
has been the gamer by fortunate hap
penings, rather than the director of
events. The ability OF Minister Bowen
has contributed very largely to the
peaceful outcome now anticipated and
the law in the case was clearly stated
some years ago by democratic Secre-
tarY of State, Mr.. Olney, who, in his
dispatch Of July 20, 1895. apropos of
the Venezuelan boundary dispute, said !,
ut 1.-THE Monroe Doctrine) does not es
tablish any general protectorate by the
United States over other American
states. 1t does not relieve any Ameri-
can state from it's obligations az fixed
by international law, nor prevent any
European power directly interested
from enforcing such obligations or
from infiictlng merited punishment
for the breach of them.n If. therefore,
any particular credit attaches to Mr..
Hay in the present instance it is be-
cause he has, according to persons in
position to know, restrained the
lingo sentiments and intentions of the
President. rather than because he has
established any new precedent or DIS
played exceptional diplomatic ability.
The President has forwarded to the
Senate the new Cuban treaty which al
lows concession of rs per cent. from
the Dingley rates to Cuba in return for
concessions from the Cuban tariff vary
ing from 20 to 40 per cent, the scale
being so arranged as to give the utmost
advantage to tho already over pro-
tected manufacturers and the least to
tho agriculturists of the country. 1t
is deemed probable that the treaty
will be ratified soon after the holidays
and that the House will be asked to
enact such legislation as may be re-
quired to make the treaty effective.
Secretary Hay is still working on
the Columbian treaty butexpects that
it will be completed when Congress
reconvenes. Under the provisions of
the convention lump snm of SIC, 0O0,-
600 will be paid to Colombia to begin
with and an annual rental thereafter.
the amount of which is still to be de-
termined. This amount constitutes
the STUN bling block to the completion
OF the treaty. Colombia demands a
rental of $500, 900 per annum and Score
tary Hay regards the amount the ex-
horbitant. Colombia's demand is
based on the claim that she now le-
ceives $3.50, 600 from the Panama Rail-
way and other revenues which bring
the total to over 100000.
Elk Secretary Gage is still endeavor
ing to dictate the financial policy of
the nation and called at the White
House recently with Mr.. John H
Rhodes, the New Y ork financier, with
the purpose of impressing bis views on
the President. Meanwhile, Represen-
tative Fowler is pressing his revised
financial bill for passage in the House,
it having been again favorably report
ed by Mr.. Fowler's committee. This
bill will greatly extend the power of |
the banks enabling them to issue cur.
rent to the amount of 25 per cent, of |
their capital without depositing United
States bonds as security therefor. Face
to face with the old democratic con
tention that the currency of the coun