One oí these diplomatic representativas, in&peakingon thls subject, remarked that most of the southern republics were staggering under foreign debts and were unablc longer to moet thoir obligations. They couid noc ineet the interest on these debts; riiuch loss uould they pay off the principal, owing to the terrible commercial depressioa. Some oí these couutries had defaulted ou their interest on foreign debts and in otilen, notably Costa Rica, it was now proposad to repudíate at least half of the debt. The quescion confronting these oountries is whether the United States-will stand by and permit tho creditor nations oC Europa to uolleet these debts by torce. Meanwhile to strengthen their claim for protección upon the Uuited States there is in progress in the smaller and wenker republios niovemont to entamjle their nterests with our own so as to raake it a matter of deep concern to our people should any Kuropean power attack them. The iirst indication of thla policy was geen in the claim of San Domingo to exemption trom tho Frenoh deinand upon her reveuues on the ground tliat these had all been farmed out to an American Corporation which would be ruined by complianoa with tiie tfrenoh demand. Then thero is tlie recent uoncession made to an Amoricau Corporation to Venezuela to force the United States into the issue between lier and Great Britain by motives of direct self interest, and in other counti'ies there has been adopted a policy of farmiuü out tosyndicatescertain privileges, such us Mie right to import tobacco and opium and the coUectiou of cuetoms duties.