New-York tribune., 1903-01-30
TIE VENEZUELAN HITCH.

Tho hitch in Venezuelan negotiations is to be
-orro+tad but If is probably not serious, and
should give rise to no grave apprehenslohS. Al
worst If can scarcely do more than cause the
submission of the dispute to The Hague instead
Of the private settling of 1t, and that woulo not
be a calamity There would be some EXPENSE
amounting TO a few thousand dolars' anu solne
few weeks delay. But, on the other hano' the
usefulness and authority of the tribunal at The
Hague would be strongly reaftirmed. ana the
form of settlement might be really more equl-
+ohla and satisfactory than that in private
adjustment So we might regard such an out
como of the present hitch with entire equanlm-
,+y There is however little reason TO look for
# The chances are that in a few days at most
the disagreement will be overcome, ana WORK
for q settlement will proceed on the accepted
lines.
The trouble is n simple one. Several other
ro,,,ors besides Great Britain. Germany and
italy have claims against Venezuela ihey
want TO have share In the pending settlement,
and Venezuela wants to give it to them. think
ing that while she is being put to settlement
she would best settle with all at the same time
and on equal terms. The three powers, now
over. object to such an arrangement and insist
upon being treated as preferred creditors Inere
is something TO say on both sides. The claims
as urgent As those of the three named, and IL
vould doubtless be easier and better for Venez-
,,eIa IN have an omnibus settlement made. On
tho other hand the three powers have been fore
ing a settlement at much expense and troubie
to themselves, while the others have been dong
nothing Having thus sown, they have rlght
TO the first reapng of the harvest so. Wnne
it would have been a generous and graceIul act
for them to let all other claimants IN on tne
oro,,nd floor" as the phrase is, they are not to
he condemned nor harshly criticised for not
doing so.
We cannot see as we have said that an
absolute impasse has been reached Inc dlln-
Guilty is one which might be compromised, or
which might be settled by the yielding OF one
side ar tbe other Either side could we'll afford
70 Weld certainly without dishonor and PROB
ably without loss or without loss sufficient to
he of material Importance. OF course, we 90
not know Just how much pressure the other
claimants NAV be putting upon Venezuela,
though il is scarcely possible that it is serious
or rnenacing Tenezuelas reply to them, III
case she Yields to the three powers, is OBVIOUS
namely that she is yielding TO force when
she cannot resist. and that their complaint con-
cerning further delay in settlement should De
made to the coercing powers. TO 1hat she couiu
add a pledge of payment to them as soon as the
three are disposed of. 1t must be remembered
that the case is not like some private bank
ruptcies in which satisfaction OF preferred
creditors takes all the assets and leaves the
other claimants without any satisfaction What'
ever. Venezuela will be able TO pay all claims
in full There is no doubt of that. The only
question is whether she shall pay them sue
cessively or simultaneously, and that question is
not of sufficient Importance to be permitted to
imperil the success of the pending negotiations.