The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-01-01

resistance, which de5oucheo on the
Persian Gulf.
We cen see no ground for the misgiV-
ings Of those who profess to be haunted
by yellow Peril in the fact that In a
contest wherein ascendency at sea was
the essential condition Of victory, the
Japanese should have proved able to
beat a European country which, since
PETER the Great built it's first warships,
has shown itself egregiously incompe-
tent in naval warfare, A corrupt bureau
cracy, like Russia's, Is OF all govern
ments the least qualified to maintain
large maritime force in state OF high
efficiency. In the record OF Admiral
ToGo's operations we find no basis for
the assumption that he could have COPIED
successfully with French or German,
much less with an English or American
feet Japan will always be powerless
in the face OF enemies that command tho
sea, and, therefore until she can chal-
lenge the combined warships OF the
Western Powers, it Is preposterous to
talk Of her ability to start an avalanche
OF the yellow race against the white.
Such challenge will never be offered,
for while Japan is building single bat
tleship the Western Powers can con-
struct a hundred. For these and other
reasons we do not expect to witness a
reawakening Of the Chinese, due to the
self-con6dence inspired by the triumph
Of their Monaghan kinsmen. When the
descendants OF GENoH1s Khan sub
jugated Russia and pushed their hordes
into Central Europe, the Chinese evinced
not trace Of citation or sympathy, but
on the contrary opposed a stolid and
logged resistance TO incorporation in
the Mongol Empire.
There Is some foundation for the pre-
diction that 1905 will be remembered as
the initial year of a new epoch in the
history of the Latin-American States.
The Dominican Republic, Of which Santo
Domingo is the capital, has long ceased
to pay interest on its foreign debts, and
the patience Of its creditors is now ut
terly exhausted. The agreement ex-
torted from Venezuela by the blockad-
ing Powers-the agreement by which
the Caracas Government pledged itself
to set apart for the payment OF foreign
creditors about third of the customs
receipts OF La Guayra and Puerto Ca
bello-has been evaded by President
CASTRO, either through a Justification
of accounts or through Q diversion of
imports to other Venezuelan harbors.
1t is not to be supposed that Germany
and Great Britain would tolerate wan
ton violation of their treaty rights, and
q second naval demonstration on their
part would now be imminent but for the
novel construction put upon the Monroe
Doctrine by Mr.. ROOSEVELT in the letter
read at the Cuban dinner and recently
expounded at considerable length by
e1-Secretary Roof. What is described
as corollary' has plainly been formu-
lated for the purpose of shielding Latin
American Commonwealth, which have
failed, or mny fail, to comply with their
pecuniary obligations, from undergoing
the fate of Egypt. 1t is evident that if
a creditor Power is at liberty TO seques-
trate third of the customs revenues of a
defaulting American republic, the prin-
ciple may be carried further, and if the
debt were large enough, the creditors
could confscate the whole of the income
accruing from duties upon imports, al
though hitherto the debtor State may
have relied almost exclusively upon such
income TO defray the expenses of its
internal administration. But if a credi-
tor can satisfy his claim by seizing in
direct taxes, would he not be authorized
by parity Of reasoning to levy direct
taxes also? How, in a word, is it possible
TO reconcile the seQuestration of reve-
nues, partial or entire, with the declara-
ton made by President MONROE that the
United States could not permit European
Power, under any pretext, TO mutilate
the territory, or in any way control the
destiny of an American republic?
From the dilemma on the horns Of
which he was threatened with impale-
ment by the recent Venezuela precedent,
President ROOSEVELT has saved himself
by proclaiming the "corollary' 70 which
we have referred He reaffirmed the
principle on which he acted when he
countenanccd the blookading of vene-
zuelan seaports by creditor Powers, the
principle, namely, that Latin American
Commonwealth must not make make
merchandise of It's weakness, but, like
all honest States, must pay its debts in
Guiding those arising out of contract.
With the view, however, of preventing
a Latin-American debtor State from
sinking into the condition Of Egypt, and
also Of upholding our traditional deter
mination never to permit European
Powers to acquire new footholds on this
Continent, Mr.. ROOSEVELT practically
said that if through any default of the
Santo Domingo or Caracas Government
or OF any other Latin-American party to
n foreign loan-there are, we scarcely
need recall unsatisfed claims against
Colombia, Ecuador, Peru and other
South or Central American common
wealths-there should be in the future
any debt collecting and revenue distrib-
uting work to do, he will do it himself.
We are not surprised that the announce
ment should have been heard with con-
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