Daily press. [volume] (Newport News, Va.) 1896-current, 1907-08-03
SATURDAY, AUGUST 3. 1907.
NATIONAL DEBT COLLECTING

IL the delegates ut The Hague
have any desire to perform FOR
the world signal service they can
do so by endorsing the views of Gen
Horace Porter on the subject OF
debt by force. The proper solu-
tion of this subject vitality affects the
United States. Attempts have been
made In the past To invoke the Mon
roe doctrine to force certain small
but troublesome republics TO repay
debts they owed foreign nations
These attempts very naturally
aroused the people of this country
and the question naturally arose:
why should the United States bu
come bill collector?'
Public opinion on this subject must
have convinced the government long
ago that the people desired the Unit
cd States to keep aloof from the
z quarrcls of two foreign nations over
the financial obligations of one to the
other. This country has been oblig.
led frequently to listen to the com
plants of creditor nation when a
little republic In South America has
had trouble with foreign money lena.
ers. Yet what benefit would accrue
TO the United states by sending war.
ships down to that republic and
threatening To destroy life and prop
orty unless 1t paid its foreign obliga-
tions? Foreign nations on the other
hand have sent war vessels in the
past TO waters adjacent To the ter
ritory of such debtor republic, but
through the intervention of tho Unit
ed States they were Withdrawn and
the question at issue was sent to
The Hague for adjudication.
The position of the United States
concerning tho use of warships to
collect debts was we'll explained by
Gen. Porter at The Hague. when nc
proposed that impartial arbitration
and not force should be employed In
all such cases. This refers. ol
course, to contractual debts aud
not to confiscation of tho property OF
q foreign resident or other wrongs
for which indemnity may properly bt
demanded. There will be some Oh
position, doubtless, to this PROPOSE
ton by certain South American
states. The use of warships for thS
blockadng of ports by any govern
ment for the purpose OF forcing the
collection of debts IS likely to cause
mast confusion, raise new ana en-
sbarrassins International questions, ant
I even eventually to bring on a war
more equitable and businesslikt
way is for all disputes to be left on
TO arbitration vt Tho Hague In thi,
I connection 1t should he noted that =. :,
United States has Invariably refuse,
to do more than make 3.t1,iomatic rer
resentations on be..alf of its owl
citizens having claims in Soutl
American countries. and it is conse
Z quently justified now in proposing
that impartial arbitration and no
force shall be employed in thes
cases i'll the future.
1t is reasonable, in considering thi
debt collection matter. to urge tina
the lender should protect himself be
ter than he appears to have done 1
the past. He should know. If h
reads the newspapers that rcvol,
tons are apt to ovcrturn these sma
governments at any time. and pc
haps render his notes uncollectabl,
He should know also that there ar
unprotected men-adventures OF tn
worst type--who secure foreign loan
with the deliberate intention of ncve
paying them. These bold soldiers
fortune do not make any provisio
Tor the payment of the principal, a