The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-07-02
VENEZUELA IS
SHORT OF CASH
Castro's Triumphant Return
Marred by Extreme Poverty
of the Nation.
COMMERCE is PROSTATE
spoLlATIoN OF FOREIGNERS is
RENEWED.
COMMERCE is PROSTATE

Washington, July lon the eve nj
the officially announced triumphant re-
turn of President Castro TO Caracas,
July 5, the Department of Commerce
and Labor issues report from the
United States consul al La Guayra CIV
ing an account OF the depressed condi-
tons to which Venezuela has been re-
duced by the Restaurador's policy, This
official statement confirms the most
alarming reports from private sources.
Consul Moffat says:
War duties on exports continue. Pro-
visions of all kinds, even such staples
as rice, beans. sailed fish, etc, form
ing the principal food articles consumed
by the laboring classes. have advanced
from Is to 100 per cent in price, while
at the same time the opportunities for
employment are rapidly decreasing.
Gold Disappears.
mo public works are being construct
ed on contemplated with the exception
OF floating dock which is being built
at Puerto Cabello. Since the announce
ment of the contract organizing gov
eminent bank has been made public,
gold has entirely disappeared from cir
culation, and even an excrbitant pre-
MUM offered for it fails to bring II
forth from 'hoardiHg,' which is the
method generally Tesorted to by those
possessing il.
THE cigarette trust recently formed
has taken from many, who sought
through their manufacture in a small
or local ways means of earning sup
port. The Hamburg line Of steamers,
which has regularly scheduled two
steamers monthly for Venezuelan ports,
has Withdrawn one steamer, owing to
the smallness of the cargoes available.
Even those of the Weather class.
whose investments consist primarily in
improved real estate, are feeling the eff
fects of the commercial prostration. The
cities give ample evidence of this fact
by the extraordinary number of vacant
houses. Rents in consequence are gen.
orally cut in half in order 20 obtain sat
isfactory tenants.
Business Men Not Venturing.
THE opportunity to keep in touch
with the foreign market for cocoa and
coffee, tie principal articles exported,
hos been prevented through the sever
ance of direct cable communication,
which Is of the utmost Importance to
those who must keep informed as TO
market conditions in order to ship to
the best advantage. The extended un-
certainty as to the adjustment of for
eign matters is restraining trade in
other quarters and compelling those
who largely control the financial stu
alton, commission and banking houses,
to be very prudent in commitments in
volving any ventures beyond actual and
present requirements.
L.
tions with grave apprehension note the
decided falling off in earnings unmis-
taxable evidence of the declining condi-
tions. Several of the concessions re-
Gently granted haze been abandoned
through misgivinss as to the future,
and the options paid thereon forfeited.
That underlying conditions are preju-
dicial to prosperity, at least for the
present, is so apparent as to cause anx-
iety on the part of a commercial in
SpoIlation Continues on Old Lines.
Notwithstanding the direful results of
the policy of mOnopolizing for himself
and his friends all the industries and
resources of the country, the acquisi-
tive operations OF the government ring
continue to branch out in all directions.
Exactly the same line of action followed
in the case of the New York & Ber-
mudez (AspnalD company has now
been adopted in the case of the ORR
noco corporation. This IS a West Vir-
ginia company formed to exploit con-
cession granted by President Blanco in
1853. The government is now prepar-
ing to bring suit in the high federal
court for the purpose of annulling the
property rights OF the American COM
pany.
The same judicial traYesty played in
the case of the asphalt company will
doubtless follow. The high federal
court is wholly under the presidents
control and renders its decisions i'm ac-
cordance with orders from headquar-
tiers. This is one of the grounds on
which the Bermudez company is ask
ing the state departments aid In Sc
curing the restoration Of its Venezue-
Ian property, seized by President Cas-
tro nearly two years ago. An effort
was made to justify this seizure by ac-
cusing the company Of participation In
the Matos revolution. AS a matter of
fact, there was absolutely no connec-
ton, even In the court proceedings al
Caracas, between the two things. In
the suit brought after the seizure was
made. there is no mention of the rev.
charges.
Ring Gets All the Spoil.
A protest has been filed with the state
department against various recent
grants by Castro of the very territory