The American Union, according to the President, is at peace
with all the world, chiefly, we fear, because all the world is slightly afraid of the Union. Mr. Arthur insists, for instance, that the American Treaty with Columbia about the Panama Canal shall hold good, though it is inconsistent with the Clayton-Bulwer Treaty. He has asked Great Britain, he says.
to modify that Treaty, and does not intend to endure any non- American guarantee of the Canal. Moreover, he thinks the Chili-Peru war has gone so far as to injure American interests. He has, therefore, sent a special Envoy to each State, with instructions to reconcile the combatants. As Chili recognises no Government in Peru except her own General, this is of itself a definite interference; and if Chili objects, it must be sup- ported by force. It is not certain that Chili, already exasperated to the last degree, will not object, and if so there will be trouble, and speculators in Chilian and Peruvian Bonds will have a fine time.
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