The Savannah morning news., 1903-03-13
APPROVING THE MONROE DOC
TRINE,


The Central and South American
states are beginning to show some APP
probation of the Monroe Doctrine. Be
fore the Venezuela affair they seemed
to think they had reason TO fear rather
than favor ii. Their view was that it
indicated that the United States want
ed to exercise a sort of authority over
them, and hence they were not partial
to it. Recently, however, a change in
their attitude in regard to it is notice.
able. The Argentine Republic has
sent to our government its approval
of it and, it is said, Chile is about to
take the same course. Doubtless the
other states to the south Of US will fol-
low their example.
The Venezuela affair has awakened
them to the fact that the warships of
any one of the European Powers may
be sent to a Central or South Amer
lean state to collect debts due its citi-
zens from individuals or corporations.
In view of the fact that in about every
one of the Central and South American
states individuals and corporations owe
large amounts to individuals and firms
in Europe, it is not at all strange that
this plan of collecting debts by means
of warships. causes them uneasiness.
AS long as they saw no benefit to
them from the Monroe Doctrine they
did not give it their approval, but
rather held aloof from it, and persisted
in regarding it as inimical, in some
respects, to their welfare, but now that
they have a demonstration of it's bene-
fits in the Venezuela case they are
Fastening to put themselves on record
in favor Of it.
There can be no objection to a Euro
pean Power collecting by force debts
due 1t, but it does not seem right that
it should use its army and navy to
collect ordinary debts due it's citizens.
These citizens understood when they
became creditors of individuals and
corporations in the Central and South
American states that they would have
to rely upon the courts of the country
to get their money, If there were a
disposition to withhold it, and they
charged excessive interest in conse-
quence, but if their government stands
ready to collect what is due them then
they took no extra risk, and ought not
to be paid the excessive interest they
charged.
No government ought to go into the
business of collecting debts due it's
citizens from individuals and corpora
tons of another country, except under
exceptional circumstances. Capitalists
of Europe would have no hesitation in
loaning money to individuals and cor
porations in Central and South Amer
lean states If they were assured that
their respective governments would
see to it that the loans were paid when
due. But by such a system a Central
or South American state could be cas-
lily bahkrupted.
1t is probable that in the future there
will be no fault found with the Mon
roe Doctrine by any of the countries
to the south of us. They are showing
greater Willingness to lean upon us In
time of trouble, but it is worthy of no.
tice that they do not seem inclined to
give us a larger share of their trade.
Is this our fault? There seems to be
reason for saying it is. The people of
Central and South America would
trade with US on a much greater scale
than they do if our merchants and
manufacturers made an effort to
please them.