The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-03-02

be pregnant with danger TO debtor
American commonwealths For IL any
fraction OF the customs revenue OF an
indebted republic might be sequestrated
Tor the purpose named, the whole OF
TO- by a parity of reasoning, might be
eKacted where, as in the case OF Argen-
tina, the foreign debt is very large IL
is, however, on the income derived
from customs duties that the LATIN
American governments mainly depend
for the maintenance OF their internal
administrations If they may he wholly
deprived Of this resource for an lndeh-
mite period il is obvious that practically
they would be reduced TO a condition
analogous to that in which Egypt is
now placed No reasonable man. how
ever, viii deny that were We 10 suiler
/ American republics to be treated as
/ Egypt is now treated by England how
! ever beneficial the treatment may seem
for the Egyptians we should depart
widely from the position taken by Presl-
dent MONROE, who declared that we
could not permit European Powers in
any way to control the destines OF
our sister commonwealths
In view of the predicament in which
we had been placed by the blockade
of Venezuelan seaports and the agree
ment subsequently extorted from the
t'aracas Government it seemed TO Presl-
dent ROOSEVELT and to our State De-
partment that there was but one mode
of escape. We could offer to mediate
between a debtor American state and
its foreign creditors and, with the con-
sent of the ormer. TO assume the func-
ton of receiver and distributor Of the
debtors customs revenue until such
debts as should have been acknowledged
by the delinquent party, or approved
by arbtrators. or found Justly due
after an investigation and adjudication
brought about 10y us, should be liqui
dated BY such an interposition on
our part the debtor state would clearly
have two things To gain: In the first
place it could feel certain that fraudulent
and eXtortionate claims would not be
recognized by the international receiver.
LII VIZ AilN iAtb' q ~ 'bAli wv fi''Eh' -
that il would escape the permanent
subsection which is the fate Of Egypt,
for the United States could be trusted
not TO retain control of its revenue for
an hour after the liquidatng process
had been completed Moreover, our
State Department has never contem-
plated the assumption Of a receivershlp
against the will of the delinquent Ameri-
can commonwealth On the contrary in
every case. rs in that of Santo Domingo,
our Intervention would take place on
the invitation or with the cordial assent
of the debtor Such is the circum-
scribed programme OF our Executive,
and no course not thus scrupulously
limited would be sanctioned by Congress
or by the American people. Every !
agreement to discharge tho functions
of receiver would have TO be embodied |
in a treaty, and that treaty would have
to be ratified by two-thirds of the United |
States Senators after mature discussion
inside and outside their chamber.
Those who object TO the Roosevelt
corollary TO the Monroe Doctrine should
explain what they would have US do in
the event of other debtor American
republics being subjected TO the coercion
which was applied to Venezuela. Would |
Mr. WILLIAMS have us resist that coer |
cion by force Of arms? Then we should !
certainly require more battleships and I
cruisers than are needed to uphold
peaceful mediation.