The Venezuelan Difficulty.

Feilding Star, Volume XVII, Issue 149, 23 December 1895, Page 2

The Venezuelan Difficulty.

CRITICAL CONDITION of AFFAIRS. A FINANCIAL PANIC REIGNING. (Per Press Association.) New York, Dec. 21. The New York Herald says tbat the Venezuela bouudary question was started long before tbe Monroe doctrine, and adds tbat the dispute does not threaten a vital point of the doctrine. The paper also thinks the President's message violently stretches the provisions of the doctrine. Senator Hale has introduced a BiU to authorise the construction of six new warships for coastal work at a cost of 4,000,000 dollars each, and also 25 torpedo boats. The presidents of the majority of the Chambers of Commerce have endorsed the President's message but they do not desire the outbreak of war. The New York Exchange replied to the London Exchange, " Hope your warships are better than your yachts " A panic of an unparalleled character has taken place on the New York Exchange, and all international stocks have declined 10 per cent, while Government stocks are unsaleable. The president of the Railway Board estimates the crisis has caused the loss of 1,000,000,000 dollars. Leading financial men declare that the present generation will not see the full recovery from the effects of the crisis. The Senate recorded the Chaplain's prayers on behalf of peace. London, December 21. The London Exchange is extremely depressed, and there have beeu immense sacrifices of American stocks.