The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-07-23

payments of its public debt is given an
one of the determining causes of the cap
ture of its fleet. the bombardment of one
of its ports. and the establishment of
rigorous blockade along its shores If such
proceedings were to be definitely adopted
they would establish precedent danger
Gus to the security and the people of
the nations of this part of America.
The collections of loans by military
means implies territorial occupation to
make them effective, and territorial occu-
patton signifies the suppression or sub
ordination of the governments Of the
countries on which It is imposed.
Such a stuat ton seems obviously at
variance with the principals many times
proclaimed by the nations of America,
and particularly with the Monroe doctrine,
sustained and defended with so much zeal
on all occasions by the United States, a
doctrine to which the Argentine republic
has heretofore solemnly adhered,
Among the principles which the memoir
able message of December 2, 1923, enunci-
ates, there are two great declarations
which particularly refer to these repub-
lies, viz: THE American continents are
henceforth not to be considered as sub
jeets for colonization by any European
powers" and - with the govern
ments whose independence we
have acknowledged, we could not
Nic0 any lhtCl postum loi 'llS Pui PoSS Va
expressing them or controlling In any
other manner their destiny by any Eu-
ropean power in any other light than as
the manifestation Of an unfriendly dispo-
sition toward the United States"
The right to forbid new colonial domin-
ions within the limits of this continent
has been many times admitted by the
public men Of England. To her sympathy
Is due, 1t may be said, the great success
which the Monroe doctrine achieved i'm
mediately on its publication. But in very
recent times there has been observed a.
marked tendency among the publiclsts
and in the various expressions of Eu-
ropean opinion to call attention to these
countries as a suitable field for future
territorial expansion Thinkers of the
highest order have pointed out the desir-
ability of turning in this direction the
great efforts which the principal powers
of Europe have exerted for the conquest
of sterile regions with trying climates
and In remote regions of the earth. The
European writer's already many who point
to the territory of South America, with
Its great riches, It's sunny sky, and its
climate propitious for all products, as,
of necessity the stage on which the great
powers who have their arms and i'm
plements of conquest already prepared.
are to struggle for the supremacy in the
course of this country
The human tendency to expansion. thus
in1amed by the suggestions of public
opinion and the press may, al any mo-
ment, take an aggressive direction, even
against the will of the present governing
classes. And 1t will not be denied that the
simplest way to the setting aside and easy
ejectment of the rightful authorities by
European governments Is Just this way of
financial interventions-as might be
shown by many examples. We in no
uFtGA baF he ~,
nations are, from any point of view, ex-
empt from the responsibilities of all sorts
which violations of international law I'M
pose on civilized peoples We do not
nor can we pretend that these countries
have the induditabe right to protect their
subjects as completely as in any other
have the indubitabe right to protect their
subjects as completely as / many other
Part of the world against the persecu-
tions and injustices of which they may be
the victims. The only principle which the
Argentine republic maintains and which
1t would, with great satisfaction, see
adopted, in view of the events In Vene-
zuela, by a nation that enjoys such great
authority and prestige as does the United
States. is the principle, already accepted,
that there can be no territorial expansion
In America on the part of Europe, nor any
oppression of the peoples of this conti-
nent, because an unfortunate financial sit
uation may compel some one of them to
postpone the fulhllment of Its promises
In a word the principle which she would
like to see recognized is: that the public
debt cannot occasion armed Intervention
nor even the actual occupation Of the ter
ritory of American nations by a European
power.
The loss of prestige and credit expert
eneed by states which fail to satisfy the
rghtful claims of their lawful creditors
II a
tude as to render 1t unnecessary for for
eign Intervention to aggravate with it's
oppression the temporary misfortunes of
insolvency.
The Argentine government could cite its
own example to demonstrate the needless
ness of armed Intervention in these cases.
The payment OF the English debt in 1924
was spontaneously resumed by her after
an interruption of thirty years, occasion
ed by the anarchy and the disturbances
which seriously affected the country dur
ing this period and all the back payments
and all the interest payments were scrupu-
lously made without any steps to this end
having been taken by the creditors.
Later on a series of financial happenings
and reverses completely beyond the con-
troll of her authorities compelled her for
the moment to suspend the payment of
the foreign debt. She had, however the
firm and fixed intention of resuming the
payments as soon as circumstances should
permit, and she did so actually some time
afterwards, at the cost OF great sacrifices,
but of her own free will and without the
Interference or the threats of any foreign
power And 1t has been because of her
perfectly scrupulous. regular and honest
proceedings, because of her high senti-
ment of equity and justice so fully demon
strated, that the difficulties undergone, In
stead of diminishing, have increased her
credit In the markets of Europe. 1t may
be affirmed with entire certainty that so
hatterng a result would not have been
obtained had the creditors deemed It ex-
pedient to intervene with violence at the
critical financial period which was thus
passed through successfully. We do not
nor can we fear that such circumstances
will be repeated.
At this time. then, no selfish feeling ami
mates us. nor do seek our own adj
vantage in manifesting our desire that the
public debt of states should not serve as
n reason for an armed attack on such
states. Quite as little do we harbor any
sentiment of hostility with regard to the
nations of Europe On the contrary, we
have maintained with all OF them since
our emancipation the most friendly rela-
tons, especially with England, to whom
we have recently given the best proof of
the confidence which her justice and equa-
nimity inspired in us by intrustlng to her
decision the most important of our inter
national questions, which she had just
decided, fixing our limits with Chile after
a controversy of more than seventy years.
We know that where England goes civil
zation accompanies her, and the benefits
of political and civil liberty are extended.
Therefore we esteem her. but this does
not mean that we should adhere with
equal sympathy to her policy in the i'm
probable case of her attempting to Cypress