Washington, April i.- ïhere is reasou to believe that the British governmen has given our Ambassador Bayard to uu derstand, in response to his representa tions in the Venezuelan bouudary matter on his suggestion that it be submitted to arbitration, that it must persist in regard ing the subject as one in which ouly Grea Britain and Venezuela are conoerned. Of course the idea was set out Ter; diplomatically and courteously, so au to avoid giving offense aa far as possible while stiü making it plain that the United otates could not be regarded as liaving any proper interest in the matter. So, as It stand?, the British government still insists upon its absolute title and right to ououpy all of tho territory to the eastward of the Schomberg line while professing a willlngness to subrnit to arbitration its claims to the lands lying west of that line. Mijjgestimi of a Proteotorate. Thls was the offer made to Venezuela years ago and it hs uot been modilied in miy respect since, notwithstandlng Bayard's efforts. It has been intiniated that the United States might acquire a right to intervene in behalf of Venezuela by declariug a protectorate over that country with the assont of its people, and bohind this suggesti'm is at least one of the great Kuropoan powers, which would be glad to have its relations with the disturbed countries of i-vuth and Central America placed on a stable basis so that it . might look to Bonte thoroughly responsible, higlily civilized goyernmont to insure the permanence of tradeaud prevent irequont revolulioiis. Mouroo Doctrine iu tho Way. ' But to concede the necessity lor such a protectorate as a prerequisite to intort'ering to prevent the acquisition of American terntory by any European power would amount to a renuuciation of the Monroo Doctrine by the United S cates, and this cannot be contemplated by the admmislration. There are indications that the British forelgn office officials are vvilling to discuss this feature of the case with Bnyard at length, and so the negotialion.s may dn# along for many months unless a oollislon occurs between the British and Venezuelan f orces in tlie disputed territory, or the new Minnesota coinpany torces au issue by bcgiuning operations ander tho large concession it has obtained l'roin Vwnezuela of lands in that section. South Aiuerican Kepubltcs All Interested It is apparent that the progress of Bayard's efforts is being watched with intense interest by all ol the diplomatic representativos of the South and Central American countries stationed in Washlnton, for they roalize that the issue may be of vital importance to all of them in the future. They had ejtpectod that the dministration would be called upon to assume a definite position in respect to the extent it would permit the European powers to in ter f ere in the affairs of the American republies In the recent San Dominican affair; but the United States was able to avoid tho issue owing to concessions on the part of France resulting in the amicable adjustment oí her differences - with the Dotninlotins.