Evening star., 1914-03-15
The population is now between 5000 and

10000.
Colombia has such vast undeveloped 70.
sources that every friend OF the country
hopes for stable political conditions which
will justify their systematic exploitation
and the investment of foreign capital.
There is not enough native capital avail
able to develop l per cent of the ma
turRl resources.
Some nice questions of International re-
lations may affect the rapidity with
which Colombian development goes for
ward. Britishers are somewhat sore over.
the failure of Lord Cowdrey to get his
sweeping petroleum and other conces-
sions confirmed. The degree to which
the State Department in Washington ex-
erted an adverse influence may be more
or less a question. yet it appears TO be,
one OF the most creditable chapters in
Mr.. Bryan's entry into dollar diplomacy.
The simple fact Is that the United
States cannot get away from its respons =:
biiity for what happens in the territory
contiguous to the canal. Blanket conces-yy
Sions to European capitalists would mean
would be compelled to take hand. At
the same time 1t would hardly be good
policy for the United States to discourage
all European Investment, especially when
American capitalists are so slow in en-
gaging in development enterprises.
:: <
Several years ago American banking in
terests were invited to take hold of the
disordered finances and put the country
on a stable monetary basis. American
banking capital has been SO slow in going
into other South American countries A.
where the conditions were much more
favorable that there was nothing sur
prising in the indifference 1t showed to
the opportunities in Colombia. A French
financial group then came forward, and
there have been various negotiati ms with
h,vt Savrt hos
made.
Colombian paper currency is now fair
ly stable in the proportion of 100 to
1: that is. an American dollar bill can
be exchanged for 100 dollars Colombian
bills. There have been times when II
would get only fifty dollars OF Col
ombian currency. and there also have
been periods when the American dollar
would purchase $50 dollars Of Colombian
currency. The reform OF the finances fs
an intricate problem. but it's solution is
not impossible IL the country gets other
questions settled.
Mr.. Bryan's treaty with Colombia not
having been negotiated. discussion of its
terms Is a little premature but, as
have stated. any treaty between Colombia
and the United States is likely to In
clude an option on the Atrato canal
route. Beyond that. the practical ques-
ton Is whether the United States will
grant Colombia a financial indemnity
and IL SO what the amount will be.
A few weeks ago numerous Colombians
were explaining what ought to be done
with the S25, 100000 which the United
States. it was assumed, was going to pay
Colombia. Some OF the propositions for
spending the money were sound and some
were chimerical Then hint came from
Washington that since no treaty had
yet been negotiated and no financial
settlement provided. the discussion was
somewhat premature. 1t IL, however, uni
versally assumed that In any treaty
which may be negotiated Colombia will
receive a financial indemnity. and the
government seems to have definite plans
Of public improvements to be initiated
with the money obtained from the United
States. OF course. all this is contingent
on a treaty which can secure the ap-
proval OF the United States Senate n
well as Of the Colombian senate.
CHARLES NJ. PEPPER