Chile and Argentina appear to have either made up their
quarrel or to have arranged to postpone it. They have agreed to a Treaty under which King Edward VII. is appointed general arbitrator, they promise not to increase their Fleets, and they pledge themselves while maintaining their Treaty rights not to enlarge their territories at their neighbour's expense. They hope thus to attract a great supply of English and French capital, and to be able to commence public works on a grand scale. That is highly civilised, so civilised that we fear cynical persons will begin to doubt. The arrangement will suit Argentina; but Chile pines for a Hinterland, and her German officers, who have just reorganised her Army, will consider their opportunity gone and their labour thrown away. The prospect for the hour is, however, bright, and as South American hunger for capital is limitless, the truce may last a good many years. Note that no word is said of the part played by Washington in the arrange- ments, which must be a considerable one.
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