What these States are going to see, therefore, is an
emancipation from the subordination, which has been inevitable, to
foreign enterprise and an assertion of the splendid character which, in
spite of these difficulties, they have again and again been able to
demonstrate. The dignity, the courage, the self-possession, the
self-respect of the Latin-American States, their achievements in the
face of all these adverse circumstances, deserve nothing but the
admiration and applause of the world. They have had harder bargains
driven with them in the matter of loans than any other peoples in the
world. Interest has been exacted of them that was not exacted of anybody
else, because the risk was said to be greater; and then securities were
taken that destroyed the risk--an admirable arrangement for those who
were forcing the terms! I rejoice in nothing so much as in the prospect
that they will now be emancipated from these conditions; and we ought to
be the first to take part in assisting in that emancipation. I think
some of these gentlemen have already had occasion to bear witness that
the Department of State in recent months has tried to serve them in that
wise.
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