Minister Bowen to the Secretary of State.
Caracas, Venezuela, April 16, 1904.
Sir: I have the honor to inform you it will probably be July before all the awards will have been made. I will then furnish you with a careful report and estimate about the amounts that have been paid and that remain to be paid and the length of time it will take to conclude the payment.
Owing to the extra duties that Venezuela has imposed on exports and imports since the protocols were signed, the income of the two custom-houses that have to provide the money to pay off the awards is likely to decrease.
Yesterday I had another talk with the minister for foreign affairs about Venezuela’s obligations to the creditor nations, and I left with him a memorandum (a copy of which I inclose herewith) of my views, and he promised to submit it to President Castro. I think it is a fair statement of the facts and of what may be justly and properly expected of Venezuela.
I am, etc.,