The daily morning journal and courier., 1903-02-12

in Its Various Phases Most Clearly
 Outlined and Defined.
 At the meeting of the Chamber of Commerce last night Professor Theo- dore s. Woolsey of the Yale law school spoke on international Law with special reference to the state of affairs in Venezuela. Professor Woolsey was introduced by President Bradley.
 The address dwelt principally with the Venezuelan troubles which is just now occupying so much attention. In sub stance Professor Woolsey's address was as follows:
 Venezuela is about twice as large as Texas, with a population Of some two and one-half millions. Venezuela's his tcry has been a checkered one. Since her withdrawal from Spanish rule in 1S47 her people have been in an almost continual state of warfare. Various dic- tators have declared themselves only to be overthrown by more powerful lead CT. The inhabitants have lost, for the most part. the stability and stamina which marks healthy and prosperous nation. The only Spanish blood has been nearly obliterated. The country has failed to make the most of it's resources, yet it has had sufficient stability to make occasional loans. These loans have brought on most of the trouble. The London Mail and the Times esti- mates Venezuela's debts to be about twenty-seven millions, to which inter- est of seven millions must be added. This is the foreign debt alone. The home debt amounts to some twenty-five millions. To offset this her income amounts to eight millions per annum. This great indebtedness was incurred principally through the medium of bankers, who sold various bonds to in- :nocent purchasers. These purchasers had no remedy except through diploma cy.
 Venezuelan loans have been to great extent railroad loans. for which interest at 2 per cent. was guaranteed. These loans not being met settlements were made which involved a further stretching out of the debt. The claims of the various countries are based on three items-injuries to subjects, injur- ies to property, and loans and guaranty.
 France was a heavy creditor, but came to a settlement after years of al- most hostile relations, which settlement was based on an apportionment of cus- toms duties. The customs duties consti- ute the principal income of Venezue.a1
 Holland and Germany claim pay ment of railroad loans. and guarantee. Great Britain claims damages and in- terest; Italy claims the same. The United States also has varied claims for loans and interest.
 'The great fault in the Venezuelan matter is that the powers are deciding their own claims. acting as judges in their own behalf. This seems unjust.
 "A state can press claims against al weaker state by so-caled punitive measures - either bombardment of threatened bombardment.
 Another means is by pacific block ade, which presents the curious anu maly of a war measure in a state of peace. This latter mode was first en- ployed in 1927, when the powers desired to independence of Greece without a war with Turkey. A peaceful blockade was established which on the accidental meeting of the opposing fleets resulted ill the destruction of the Turkish suuad- ron and the consequent independence of Greece. Since then Greece has been d sort of ward of the powers.
 This method os pressing claims has been used seventeen or eighteen times during this century. This blockade ut- terly shuts out all commerce with the blockaded country. The question of third party's rights in entering is an in- teresting one.
 ''The outsider may claim that if it is essentially war mea sure the rights of the blockading power is paramount to neutral rights. If it is not a war meas ure, and it does not pretend to be this, the neutral denies the right
 "As the restraint of customs duties means loss of one-half of Venezuelas income the blockade will not continue indefinitely.
 President Castro, at first indignant and threatening dire results, calmed down and submitted gracefully. q
 ''The capture of Venezuelan gunboats by Germany was rather high-handed and due to the over-eagerness of the officers who too earnestly seek personal aggrandizement.
 Germany and England suffer the same unpleasantness as does the Unit
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