New-York tribune., 1903-02-09
ONE PROTOCOL COMPLETE
OTHERS NEARLY RE4DP.
British Document Satisfactory-ho
Likelihood of DeLay.
rBr TELEGRAPH TO TIE TRIBUNE. !

fBT TELEGRAPH rRTBTNF.1
Washington, Feb. S.-By completing his prOtos
col the British Ambassador has earned the dis
tinction Of contributing the first long step
toward the final clearing UP Of the Venezuelan
situation. and the same time has distanced
his col1ea CUES. The British protocol IS COM
peted. has been read by Minister Bowen. and
is. moreover. satisfactory 70 the Representatives
of Venezuela wilo will sign il when the other
protocols are completed. Although still confined
TO his bed. Sir Michael Herbert has worked un-
interruptedly at preparing the protocol. and the
docun1e-. Iii: roIIow the lines of the negoJis-
tions. without containing any new feature which
will delay the proceedings. II will also con-
tribute the first definite step toward raising tbs
blockade The Italian note is also well along.
but in it's present form will have to undergo a
little modification before IL is signed The Ger
man note is the slowest in taking form. not be-
cause of any intentional delay on the part &C
the German Government, but because of ths
handicap Baron Won Sternburg labors under
owing to his late arrival upon the scene OF tbs
negotiations. His protocol has TO be sent to
Berlin by wire. and the task of transmitting 10
clause by clause Is long and tedious one But
in the face Of this handicap Baron Won Stern.
burg is working night and day to expedite tbs
matter.
LITTLE PROBABILITY OF DEIAT.
full and the credit for this belongs IN no small
part to the British Ambassador. The only poss
sible cause Of delay would come through the in
sertion in the protocols Of some new featurs
not already discussed Sir Michael HERBERT
through his protocol has already demonstrated
that such action is contemplated by ths
British Government There is not the slightest
reason. moreover, to expect any such action er
the part Of the Germans. and apparently only
protocols and signing them remains. It may be-
Wednesday. even Thursday, before the docu-
ments are all signed, but the delay need not
have any significance.
The discussion of secret understandings be.
tween Germany and Italy, which started yester<
day, rests rather complicated set OF cou-
ditions existing in Caracas prior to the block1
ade- The Italian Government learned that ths
British and German Foreign Offices were ex-
changing notes on the subject OF joint action in
Venezuelan waters. and after communicating
it's desire to share in the demonstration irrrneei-
ately instructed it's Venezuelan representatives
to follow the German lead in the matter Ths
Italian Minister falling to grasp the true i'm
portance Of the order, let the secret out and 10
became known in Caracas that there was Z.
secret understanding between Germany and
Italy. In due time this story reached Washing
ton and caused the talk of a secret agreement.
reason of the knowledge of the triple alliance
binding Italy and Germany, we'll Austrias
in European politics.
QUESTIONS FOR THE HAGUE
Discussion of the reference to The Hagus
raises the interesting question 20 just what
relation to the affair non-bIockading creditor
nations will have. 1t is certainly matter Of
Importance to them to defeat if possible, the
preferential scheme. and there has been a sug-
gestion that assistance would be given 70 Venez-
IeIa by some of these nations. since her treas
ury hardly permits her TO expend a sum large
enough TO secure the best legal service in pre-
sentins her case. No step has been taken in
this matter as yet. however AS soon as ths
protocols with the allies have been signed
Venezuela will have to sign others with each
of the creditor nations providing for payment
of claims through the customs receipts Of this
ports offered for that purpose Commissions.
such as have already been described will also
have 10 be decided upon. and there is still
possibility of a considerable protractton Of the
matter. but the protraction will not be fraughs
with any serious significance
The arrangements with the peace powers viii
have to be of a tentative nature, of course, pend.
ing the decision of The Hague tribunal on tbs
matter OF preferential claims If the court dis
misses these claims. the whole OF the 80 per-
cent offered by Venezuela will be set aside for
all claims OF creditor nations. proportionats
rates going to each; If. however, the claim OF
the allies is sustained, only 10 per cent will re-
main for the eight peace powers It is ths
realization of the Importance Of such a decision
to the unallied powers which has encouraged
the notion that Venezuela might fnd financial
assistance at the hands Of nations whose own
interests are identical with Venezuela's: bud
many reasons have already been assigned ia
show why this hope Of Venezuela IS likely to-
prove futile.
Pending the decision Of The Hague tribunals
however Venezuela will have an opportunity
TO recoup herself in part. as the raising or tns
blockade will at open her ports. and by
the time the decision of The Hague is reached
she will be in far better financial condition tos
meet her claims than at the present moment