14 FEBRUARY 1903, Page 1

NEWS OF THE WEEK • A S we write on

Friday no official announcement has been 13.. made as to the settlement of the Venezuelan difficulty, but apparently an agreement has been reached. The terms as reported on Friday, if they are correct, are characteristic of the Powers involved and their Methods of action. The British and the Italians are to receive £5,000 apiece, and Ger- many £68,060, as a preliminary payment, in considera- tion of which the blockade is to be raised. Though the laugh is so painfully against ourselves, we cannot but be amused at the result, and we must congratulate the German Emperor and Count von Billow on a really remark- able diplomatic triumph. A few months ago Germany was in the position of a Power with a certain number of very doubtful bondholder claims against Venezuela,— claims which she would not have dared to enforce alone in view of their character, and of the jealousy and sus- picion with which America regarded her action. Great Britain, on the other hand, bad a perfectly sound and justifi- able claim against Venezuela, which she could not onlY enforce with ease owing to her naval strength, but without creating any suspicion or annoyance at Washington, where her position was well understood.