Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-10-14
Pres. Taft's Speech on Arbitra=
ton Treaties at Sacramento, Cal.

we have heretofore had to send every
time there was disturbance in a Cen
trail American country. Honduras,
from one side of the 18TH
mus to the other, has been common
ground for the revolutionists
of the Central American Republics.
If we can by such a simple arrange
ment as this, and by the assumption
Of such a light responsibility as have
described, put Honduras on her feet
so far as her debts are concerned. and
can give her a breathing space in
which to develop the wealth which
nature has lavished upon her, we can
he certain of promoting peace and
thrift in a part of the world where
peace and due process of law are now
unknown.
Nicaragua is a country lying ada
cent to Honduras, and its circum-
stances have been similar to those of
Honduras. The treaty with Mica
ragua is practically the same as that
with Honduras. The approval of
i hese two treaties and successful adj
of the loan contracts will
lead TO adjustments OF the national
Ilebts of the other Central American
Republics on basis much more
favorable to them and with even less
on the part of the
United States.
San Salvador is one Of the Central
american Republics that has had less
evolution and disturbance than any,
nd It's credit has, therefore, been bet
er. The minute, however, that the
tonduras treaty was made and the
an effected, subject to ratification py
he Senate. the minister of that conn-
" advised Mr.. Knox that the pros
ect Of putting Honduras on a sound
nd neacefnl basis had enabled his
,untrv TO reduce its army. thus less
ming the cost of its government ana
icreasing its ability to meet Its finan-
al obligations.
There is a very decided objection in
he Senate to the approval of these
.eaties. I doubt If can fairly state
1ese objections. This is due, per-
ans to the depth Of my conviction
1af the treaties ought to be ratified
atause they are Of the utmost i'm
ortanee in the promotion of peace on
his hemisphere, in a region where
here has been no peace The general
rgument seems to be that we ought
OF TO involve ourselves in entangling
lliances with Republics in this hen-
phere, or TO engage in what seems
lere banking arrangement for the
romotion of a banking contract. IL
objected that this is dollar
ip1omacy." and that We ought to have
one of it Give d dog bad name
nd YOU know what follows. To call
particular piece ofetatecraft dollar
iplomacy" is to invoke the condehlha-
ION of undertaking journals, whose
hief capital is in the use of phrases
hrid character. The United
ta+es did not enter into this treaty for
ne promotion of its own banking bust
ess or that of any OF its citizens IL
tas thought advisable to favor con-
ract with American bankers ratller
han with foreign bankers, because
pch q contract would tend to keep
rade with America. rather than overt
70 European markets. mean the
rade of these countries. AS ii is now,
large part OF the Honduras trade,
9th export and import. is with the
iulf ports of the United States. Peace
nd prosperity win largely increase
his trade, and with an American loan
nd our protection of the contract we
re sure to retain this trade. which
viii increase, instead of its going to
ONE other country This is the cor
ect object and purpose of diplomatic
,egotiation. Trade is not the chief
purpose of the contract, for, as ! have
lready explained. it is to promote
eace in this part of the world. a part
the world SO near the Panama
Canal as to give us an additional
Geographical reason for dssiring to
Eliminate revolution and warfare. AS
matter of fact, il will reduce our
avail expenditures by diminishing the
lumber of gunboats we have to main
ain in all this region. An examina-
ion of our expenditure on this account
turing the last five years will show
hat this is considerable.
Another argument against the treaty
rows out of the continued discussion
# what the Monroe doctrine means.
has been said in favor OF such
reaties as this that by virtue of the
Monroe doctrine all these countries
re more or less under our guardian
ship: that we have guaranteed, in a
iense, their integrity against invasion
W European countries: and that it is,
therefore,, our duty. where a European
ountry acting for it's own citizens or
'ubjeets takes foreible measures to
collect their debts from such Republics.
% say: You must keep off and we will
undertake properly to adjust your
,laims." Now, ii is this argument. it
seems to me, as much as anything,
hat has aroused opposition to the
reaties. because it proceeds. upon
premises that are calculated to en-
gender discussion and dispute OPP
ponents of the argument say that no
country has the right to use forcible
co e,,ras. -, anlIant tho Jahts