NEWS OF THE WEEK.
THE Venezuelan imbroglio continues, but the Powers are doing something more than marking time. The proposal, made by Britain and Germany, endorsed by Italy, and accepted by President Castro, that President Roosevelt should act as arbitrator, has met with general favour, but at the moment of our going to press the President's decision had not yet been announced. It is understood. that the President's original suggestion was that the Hague Tribunal should arbitrate, and that the Powers replied with the counter-suggestion that the President should act. The difficulties of the situation are twofold. There is, first, the question of a guarantee of the execution of the award, and second, it is alleged that Germany is desirous to reserve or exclude certain claims from the sphere of arbitration. Furthermore, while America is complimented by the proposal, there is undoubtedly a strong opposition to its acceptance in the Press and amongst certain politicians, partly on account of the apprehension of further entanglement, partly owing to the feeling towards Germany, and partly owing to an indisposition to aggrandise the power of the President. On the whole, there seems a reasonable prospect, though by no means a certainty, that conditions will be mutually arranged for a basis of arbitration with the President as referee. It is felt that his award would carry a weight which would practically dispense with the necessity of a guarantee which the Hague Tribunal is powerless to give.
