Papers Relating to the Foreign Relations of the United States, With the Annual Message of the President Transmitted to Congress December 5, 1905

Minister Bowen to the Secretary of State.

American Legation,
Caracas, Venezuela , March 30, 1904 .

No. 270, Confidential.]

Sir: I have the honor to inclose herewith a statement showing the amounts that were paid monthly to the representative of the Bank of England here during the year ended February 29, 1904, and also a statement showing what the total income of Venezuela was during the year 1903.

Comparing the statements, we find that Venezuela is paying about one-eighth of her entire income to the said representative. That in itself is not a heavy burden, but by the terms of the protocols she is bound “to make a new satisfactory arrangement to settle simultaneously the 5 per cent Venezuelan loan of 1896 and the entire exterior debt,” which together amount to very much more than the claims do which have been presented to the commissions. It is likely, therefore, that when the promised arrangement is made Venezuela will have all the financial burdens she can carry.

Although the 30 per cent of the amount collected in the customhouses at La Guaira and Puerto Cabello falls short by about 315,000 bolivars of the 5,400,000 which it was estimated the 30 per cent would yield, it seems to me, in view of all the circumstances, that if the allied powers can afford to accept the situation we can, also.

Some time ago I informed you that I thought the allied powers would be paid off by the end of this year, but I believe now that I should have added nearly another year to that calculation. * * *

I am, etc.,

Herbert W. Bowen.

[Inclosure 1.]

Payments of 30 per cent of revenues of custom-houses at Puerto Cabello and La Guaira made to the representative of the Bank of England at Caracas.

	Month.	Amount.		Month.	Amount.
1903.		Bolivars.	1904.		Bolivars.
April 16	March	403,227.75	January 15	December	522,747.35
May 7	April	312,973.90	February 17	January	461,367.55
June 5	May	312,535.00	March 16	February	439,405.10
July 10	June	290,195.45
August 6	July	436,339.00	Total		5,084,577.50
September 11	August	400,007.30	Exchange, $1=5 bolivars and 20 centimos		$977,803.36
October 15	September	444,004.60
November 13	October	527,109.95
December 10	November	534,664.55

Income of Venezuela during the year 1903.

Source of income.	Amount.	Source of income.	Amount.
	Bolivars.		Bolivars.
Customs duties	21,102,827.53	Loan of 1903	344,203.36
Transit duties	5,731,292.66	Patents	7,637.50
	26,834,120.19	Registrations	44,187.67
War tax	9,760,172.50	Mortgage	2,000.81
Salt	1,738,068.51	Cattle tax	168,276.00
Coining silver	1,616,783.94	Buoy tax	62,726.00
Consular returns	232,232.53	Telegraphs	293,497.65
Stamped paper	99,026.49	Creeks	41,331.84
Pearl industry	68,370.00	Special rents	6,926.73
Postal packages	27,150.55	Wharf tax	171,438.95
Unappropriated lands	42,140.05	Aqueduct Miranda	14,249.97
Mines	43,347.07	Schools	1,745,590.83
Waterworks of Caracas	45,429.50	Total	43,426,908.64
Municipal rents	18,000.00	Exchange, $1=5.20 bolivars	$8,351,328.58

These two statements might very properly be published.—H. W. B.