New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-03-04

An example Is not always necessarily a prec-
edent That is the reflection which IS provoked
by our London correspondents luminous anal
ysis OF the Venezuela decision at The Hague,
which viii be found on the tenth page.
Mr.. Ford points out clearly that one effect OF
the decision in favor OF the quasi-belligerent
powers win be 10 encourage the employment or
the menace OF force for the collection Of debts.
That is not TO be denied. 1t is 10 be regretted.
II It were 10 be established rs n precedent,
without any modifying OF compensatory cir
cumstanccs, Il would be intolerable. The prac-
tee Of having one OF two countries rush In with
warshps whenever they please 10 bully weaker
nations into the payment Of doubtful debts. and
thus gain priority Of rights over other and per-
haps more valid claimants would not conduce
10 amity and mutual confidence among the ma
tons II that and that alone were 10 he its re-
suit this Hague verdict might be regarded as
hostile TO the best interests Of the human race
We do not think il win have that effect for
various reasons, OF which we need not mention
more than two or three. One is. that there is no
assurance that his example Of successful force
has set a precedent which will be followed in
subsequent decisions by the tribunal at The
Hagu AS understand it, the decision was
based not on equity but on law. AS Mr.. Ford
shrewdly points out the arbitrators were strict
cOnstTuctionsts OF the protocols. They gave
AAltlA AtNASlDA ~ lCll0I u law,
and not according TO any eternal and immutable
principles Of equity. In the next case Of the
kind the protocols might be framed differently
we are inclined TO think they viii be SO far
as the United States is concerned-and in that
case the decision OF the court upon the letter
Of the law, might be exactly contrary TO the one
just given Again, II il were established that
all force using powers should be preferred cred
ltors, il would quickly come to pass that the mo-
.Fsry.,
using force, all the others would rush in and
do the same, so that all would be preferred
creditors. and the whole thing would be reduced
TO an absurdity. Moreover, there s. after all the
question of American assent. which we must
regard as not a negligible, but a dominant,
factor. We do not think the three powers would
have gone as far as they did in coercing Venez-
uela had there not been an understanding with
the United States. We have grave doubts
whether any European power will attempt to
repeat those tactics without also ascertaining TO
what extent it can go without mourning Amer
lean displeasure.
Mr. Ford dwells, Also upon what we have
thought 10 be one OF the most important feat
ures Of the case, namely, that debtor nations
VIII be warned by this decision Of the necessity
Of paying their debts and of treating their
creditors with good faith. 1t is high time for
them TO be reminded OF that necessity We are
not unmindful OF all that is TO be said on the
other side. There is no doubt that most Of the
claims" are spurious. In the case OF Ven
eZuela We believe about 50 per cent Of them
were so adjudged. They are trumped up by
designing and corrupt spectators. in the hope
that government viii enforce payment OF them
with its warships Nevertheless, some countries
have striven 90 repudiate legitimate claims
The outcome OF the Venezuela case has shown
debtor nations that their claims can be adju-
dioated and that spurious ones can be rejected
But II also shows them that Just ones must be
paid There is In II, whether IL serves as a prec-
edent or not no announcement 90 DELINQUENCY
Half the domestic disturbances and nine-tenths
OF the foreign cmbroilments which some az
the American states have suffered have been
due 20 financial irregularities. There should he
prompt and radical reform Of their conduct
| In such matters and Il the Yenezuela example