Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-07-16

stake may serve to prevent too much delay
| anu toe much indirection.
BEFORE General Reyes left New York for
1 rarls nus friends understood that if he
were lnaugurated president his policy
would be to secure for Colombia the COM
mercial and other advantages which GLOW
the building of the canal He reiterated
this purpose when he was in Venezuela.
The political line has nothing to do with
the geography of the isthmus. One of Co
lombia' IS most profitable industries Is that
OF cattle raising. Some companies already
have been formed to raise cattle with
view to supplying the demand which will
come when the actual construction work
OF the canal is under way. The Colombian
oEernment recently has reduced tee ex-
port duty on cattle, and that may be the
view to meet the demand that is spring.
ing up
This is only one of several advantages
which are open to Colombia and when
President Reyes is expected TO foster.
There are larger enterprises, Including rail-
road building, that will wait for a while
until the policy of the new admins.r ira ton
and its probable success can be ...ore def
iritely determined.
Financial reconstruction Is the greatest
of all the tasks ahead of him. ! have not
noticed recently what the exchange is On
Bogota, but few months ago, and ever.
before the events the isthmus, dollar
gold was worth basketful of Colombian
currency. The Colombian congress before
its adjournment in October did enact enc
ia rejecting the canal treaty This meas
ure provided ior the gold standard and
fixed the monetary unit of the country on
the basis Of the gold dollar of the United
States. Laws of this kind are not tnfre-
quert III the Latin American countries
which have been rioting in the paper
wealth produced by the printing presses
Making them effective sometimes proves
impractcable.
Hope for Colombia.
Yet there is hope for Colombia. The law
of October prohibited future emission of
paper money. either by the central or by
the departmental government. 1t IS under
stood that this provision has been observed
and the printing presses have been idle
since October. Provision also was made
for gathering in the paper money and burn
ing it. To gather it in requires gold, and
the government has not yet been iii a posi-
ton to spare the gold with which to buy
up the paper money in quantities large
enough to insure IL bonfire. But the legal
establishment of the gold standard and the
authorization for customs duties 10 DE lev
led on that basis is a clear advance ana
does give encouragement for the future.
Milen he was in Washington General Reyes
thought that If the government could get
sl0OOO,U01 gold through a national bank or
some other agency 1t could id l,Self OF Inc
ertne issue OF paper currency.
One ONT regarding the new admihistra-
ion is looked forward to with some anN-
Lefty. though II mas not eHteiSU Liuci! nv
tie general talk. This is the relations OF
the church and state. The conservatives
or Uericals have been the uny,eldlinS !oc OF
everything progressive. Most of the reVo-
iutions started by the Liberals were as
much against the church as against the
government.
General Reyes himself is a devout ci.ui On.
man, but his liberal leaninSs IN potitlcal
affairs have prevented him from being 'den-
tifed very strongly with the church party.
The very interesting ques-i1n Is wh.thsr
the church influences with which he VIII
be surrounded will regain Their power un-
del his administration or whethHr MS sup
rort of liberal principles will bring him
into lntagonism with the hierarchy. mat
question cannot be settled right away.
CHARLES NJ. PEPPER.