The most important news from America is the statement, volunteered
by President Taft on the 18th inst., that he meant to ask Congress for £400,000 for the fortification of the Panama Canal, as he thinks the time has now come to begin work. The President is also reported to have reiterated his con- viction that it was advisable to adhere to the two 'Dread- noughts ' programme until the canal is finished,—a significant tribute to the value of the canal for national defence. In this context we may note that M. Bunau-Varilla has pub- lished several letters in the D6bats in support of his con- tention that the permanent fortification of the canal is irreconcilable with the loyal interpretation of the Treaty between the United States and the Republic of Panama, which M. Bunan-Varilla represented at Washington. " If the United States fortify the isthmus, they will justify their action, not by appealing to the Hay-Pauncefote or Hay-Bunan- Varilla Treaties, neither of which deals with this question, but by extending the Monroe doctrine, which may be summed up in the words ' America for the Americans." He accordingly urges the great naval Powers to formulate their protests against an extension which affects their natural rights, and is bound to lead to discontent and even war.
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