Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-02-05
FOLLY OF THE ALLIES.
The New Way of Collecting Old Debts
Not a HowIinq Success.

The New Way of Collecting Old Debt.
Not HowIins Success.
New York, Feb. 4.-The Eevenine
Post prints the following editorial Oh
the Venezuelan situation under the u
tie "a New Way to Collect Old Debts:
Repeated and disappointing delays
| in the Venezuelan negotiations, culml-
mating today in news of what is prac-
tically a deadlock between Minister
Bowen and the allies, are vexing, but
not necessarily alarming. AS we I'M
| destand the situation an agreement te
refer the whole matter to The Hague
tribunal will be fallen back upon IN
case the direct Intervention or MT
Bowen as pleniuotentiary OF VeneZueia
should wholly fail Chancellor Won
Bulow in his speech in the relcnstae
of Jan. 90. spoke of President Castro
| having "recognized In principle the
| demands of the three powers. ana OF
| having given his assent to the pre-
| liminary conditions for reference OF the
dispute to the court Of arbitration an
The Hague There, we infer, the case
| will go if no short cut settlement Can
be had at Washington.
While this is happily true, we think
! however, that a review OF the Whole
| affair down to the present VIII ho'
fheighten ones idea Of the wisdom WIN
which it has been managed by England
and Germany. Their new way OF col
| lecting old debts has not proved II
lee,ting old debts, manu- militari, mas
Il not proved itself great success. IL Is
i not likely to be followed by fortunate
precedent.
Reduced to ordinary commercial ter
anthology, their plan has been first 70
destroy a good part OF the assets VI
their debtor and then to incur heaVS
expenses of litigation that they arecei-
tain to lose by the whole transactioh'
no matter what they may be able 20 re-
cover in the end If any one says Una.
there was national dignity to be VIM
dicated as we'll as payments TO pc eA-
acted. we would ask what evidence
there is that English or German ma
tional vanity has been fiattered by the
mortifying incidents Of the Venezuelan
blockade?
1t was begun as war which was
not a war; and rapidly developed one
unpleasant feature after another. IL IL
:rritated Venezuela little, 1t lrrltateo
Englishmen and Germans and Amerl-
cans a great deal. That blockade Can
scarcely be called enormously success
ful. which most worries the blockaoiils
nations. 1t is the duty of govern
ment to read correctly, If not the lu-
ture ono statesman can be called upon
ia he a prophet) at least the immedlate
results of its own action; and this nell
ther the British nor the German gov
eminent appears to have done.
Who can imagine Lansdowne, ana
Won Bulow, striking hanos 10 coeise
Venezuela. If the thing We're all to do
over again, and If they couid Ioresee
the unhappily consequences winch lhes.
now so clearly see?
The truth is that this method Oh re
sorting to forcible reprisals or poorly
disguised war in order to collect claim
lie dubious business at best. Lord
Palmerston headed England in the
wrong direction In this matter, ana
subsequent prime ministers were COM
pelled to retrace his hasty steps. Thus
Lord Salisbury made the statement IN
1850 that, while he would not go SO lar
as to say that the government would
never Interfere in behalf of an unpaid
holder of foreign bonds, yet that such
interference was wrong in principle.
1t would be hardly fair If any body
of capitalists should have it in their
power to pledge the people OF this
country to exertions of such an extern
siye character They would be get
ting the benefit OF an English guar
antee without paying the price of it.
1t is also apt to be the case that
when you go to collecting debts at the
lannon's mouth all sorts OF snauy
claims are put into your hands. me
British claims have been made pupilc
and for the most part relate to seizures
of British vessels or to acts OF violence
against British subjects. Yet some OF
these. as Professor Holland Of the chat:
of international law at Oxford has
pointed out, are scarcely justified undo
rules affecting civil war, adopted
the Institute de Droit international.
OF the German claims we have
never seen complete list, but one of
them has certainly a queer look. This
has to do with a railway contract for
line Ill miles long which cost moro
than $15,O0O,000 to build (three times
the estimates), runs thru the sparsely
settled country, and swallows up so
per cent of the gross receipts in oper-
ating expenses. To enforce by pike
and gun guarantee of per cent in
terest on capital sunk in such an en-
terprise seems trifie unreasonable, to
put it mildly as possible.
AS If to emphasize the blunder in
the Anglo German way of collecting
the Venezuelan debts, full account
is now given of the success of the
French in submitting their claims to
arbitration, getting a just award, and
having the money in sight.
Mr.. Bowen was not far wrong in say
ing that to compel such creditors to
in after those who had plunged
into an opera bouffe war would be an
"offense to civilization" The trading
world can not afford to put a premium
upon violent Interruptions OF com
MERGE Indeed, the chief instruction t..
be had from the whole affair is that
methods in settling interna-
tional differences are more profitable.
as we'll as more civilized, than impetu-
GUS appeals to arms.
SEEK PRIMARY REFERENDUM.