The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-01-27
TERMS OF PROPOSITION
VENEZUELA TO PLEDGE CUSTOMS
RECEIPTS AT CHIEF PORTS.
Will Give Creditors 80 Per Cent. OF
Collections at Laguayra and
Puerto CabeIIO.

CARACAS. Jan. ss.-The Associated Press
correspondent has just received a communi-
cation from the British naval officer at
Laguayra informing him that the blockade
will be raised on Wednesday.
WASHINGTON. Jan. 26.-The Associated
Press has been informed that Minister
Bowen, acting for Venezuela. in return for
the raising of the blockade pledges 30 per
cent OF the receipts of the ports of Porto
Cabello and Laguayra, the same to be col
lected by joint commission made up Of
one representative from each of the powers
having claims against Venezuela. Up to
the close of the day formal notice of the
acceptance of the proposition had not come
TO Minister Bowen from the representa-
tives Of the allies here. However. such un-
official information as reached Mr.. Bowen
confirmed him in the belief that the pend
ing controversy would be settled 'soon and
satisfactorily" 1t is learned that the
Italian government all along has favored
an honorable compromise and has let its
allies know the favor with which it re-
CARDS the Bowen proposition, while profess
ing a willingness to defer TO their views in
the matter. The ports of Laguayra and
Porto CabeIlo collect a large part of the
total ccstoms receipts of the country I'm
der this arrangement probably cash pay
ment can be dispensed with. as the Gus
toms receipts will quickly defray the press
ing individual claims of the allies.
The lifting of the blockade would not
mean the complete withdrawal from Ameri-
can waters OF the allied fleet, and it is un-
derstood that not only will the British fleet
remain in its accustomed winter quarters
in the Caribbean. but that the German gov
ernment will depart from its ancient policy,
which has been TO get along without sta
tion fleets, and will continue the present
squadron in American waters as a perma-
nent fleet.
Late tonight no information had been re-
ceived in Washington to justify the posi-
tive statement contained in the Caracas
dispatch that the Venezuelan blockade will
be raised on Wednesday Minister Bowen
continues hopeful that such happy con-
summation will result from the pending ne
gotiations. as the latest proposition he has
made TO the allied governments is regarded
by him as eminently fair one. He is
still awaiting formal replies to the PROPOSE
tion from Great Britain and Germany, and
on these will depend the question whether
the blockade is to be raised. AS indicated
fin dispatch from Rome received tonight.
the question now to be determined is the
amount Of the custom receipts which are to
be given as a guarantee. Great Britain is
believed to be favorable to accepting the 30
per cent offered by Mr. Bowen, while Ger
many Is supposed to be insisting on so per
cent. Minister Bowen declines to discuss
the question in any of its phases, nor will
he disclose what is the actual amount of
guaranty he has offered.
With the promptitude which has charac-
terized al it's actions in the present emer-
gency. the Italian government has cabled
to its feet commander In Venezuelan
waters to withdraw from the blockade as
soon as the ships Of the other powers do so.
Information TO this effect was received by
<the Italian ambassador here to-day.