Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1911-10-13
PRESIDENT TAFT
ON ARBITRATION
treaties Made With Repub-
lies of Honduras and
Nicaragua
ADDRESS DELIVERED TODAY
People All Over Earth Express
Sentiments In Fovor
of Peace.

'bS SpecIal Leased Wire to New Mexican !
Sacramento, Calf. Oct. I3.-presi
dent Taft's first important sueech in
California was delivered here today
! from the steps of the State CAPITOL
| building, The President spoke in
| behalf of the proposed treaties with
Nicaragua and Honduras and yigor.
ousiy defended the policy of the ad-
| mlnstration which he said "muckrak-
ing journals had labelled Dollar
Diplomacy"
Uncle Sam as Financial Agent.
Broadly speaking, President Taft
sad the proposed treaties with these
countries before the Senate would Sc
| cure for them financial agent in the
United States who would settle their
existing debts on jlst basis and
| who would point the road to peace
and prosperity to two republics. rich
In natural resources but torn by
strife and revolution.
The Monroe Doctrine.
The president pointed out the eff
cheney of similar arrangement with
Santo Domingo where this govern
ment collects the customs and sees
that foreign debts are paid exercising
beneficient supervision that Mr.. Taft
said has accrued to the upbuilding of
Santo Domingo. Objection TO the
treaties in the L. S. senate the presi-
dent said, was based largely upon the
proposition that they would make en-
tangllng alliances with Republics in
thls hemisphere for the promotion of
banking contract since the money
for the payment of the debts of lne
two Republics would be furnished by
American interests. Another objec-
ton discussed by the president was
that the Monroe Doctrine was suffi
Gent bond between the United States
and the Latin-American countries.
Dollar Diplomacy.
1t is objected that this is Dollar
said the president. "and
that we ought to have none of it. Give
dog bad name and you know wha.
lolloWs. To call piece of state
craft Dollar diplomacy il to invoke
the condemnation of undertaking iour.
nails, whose chief capital is in the use
OF phrases of lurid character. TbS
United States did not enter into this
treaty for the promotion of its own
banking business or that of any of its
;luZens. 1t was thought advisable tn
tavor contract with American hank.
7rs because such a contract would
.end to keep trade with America This
s the correct object and purpose of
diplomatic negotiation"
The Address.
My Fellow Citizens: rhe subiecr
II the ratification of treaties by the
senate is frequently confidential and
nat prevents public discussion of the
'ros and cons which might sometimes
'e useful. Treaties are much less the
SUBJECT OF public consideration than
ne statutes, and yet when ratified
hey are as binding upon all of us as
statutes, because by the constitution
hey become the law of the land. In
his respect they differ from treaties
u other governments, which are only
International contracts. Sometimes
he Senate removes the Injunction of
ecrecy from treaties and the discus
ion OF their merits 1t is to certain
reaties which l have submitted to
he Senate, and which that body has
low published and laid before you for
and discussion, that I
all your attention tonight They are
he treaties | made with the Republic
II Honduras and the Republic of Mic
lragua, for the purpose of securing
| loan to each Of these Central Ameri.
'an Republics.
We have heard great deal during
he past six months in favor of gen.
'ral arbitration treaties for the pro-
notion of the peace of the world. |
believe there has been of late more
genuine expression of sentiment
mong all the people of the earth for
'eace than ever before in the worlds
history. The craving for some effec-
i've means of promoting peace grows
lot so much out of actual war as out
# the desperation with which the
reat nations are increasing the stu
endous burden of armies and arma.
nent, making Europe an armed camp,
With the growing menace of bank.
uptcy.
The fact is that we have had very
title war in the last 25 years, and
ne of the reasons has been the rival.
in preparation for war and the Ger.
ainty OF financial disaster to some
ations which must follow.
Among these great nations there is
he conservatism of domestic stabil-
ty and the law-abiding character of
ne population. Universal treaties of
FILTRATION for such countries are of
he highest Importance as probably
means by which all may
e induced ultimately to reduce their
rmaments, when it shall become ap.
aren't that arbitration is real and
ractical substitute for war.
l would not therefore minimize the
Importance of such treaties in the ul-
innate cause of peace; but I wish
o point out that at present wars
hiefy arise, not between well-order.