The Argentine Republic, like all America, was deeply moved by the military steps taken by England, Germany and Italy in the month of December, 1902, against Venezuela for the settlement of claims of various sorts. Among these claims, arising some from special contracts and others from material injuries sustained by the subjects of the nations mentioned in the revolutionary commotions and civil wars of the unfortunate Republic, was made to figure the collection of the deferred interest on the foreign public debt, outstanding in the form of bonds issued by the Venezuelan government for the construction of railways and other public works. The coercive measures adopted assumed at one time a character of extreme violence, the Powers going so far as to seize the Venezuelan fleet, bombard the cities of La Guerra, Puerto Cabello and Maracaibo and establish a rigorous blockade of the coast.
It was at this moment of veritable consternation for America that the Argentine Republic sent to its Minister in Washington the note of December 29, 1902, that has given rise to most important controversies and debates, which now, after the lapse of so long an interval, are far from exhausted.