The claims were adjusted at Caracas in 1903, but further complications arose as to whether Venezuela should pay off the debts owed to the blockading powers before settling the claims of neutral nations; in 1904 the Hague Tribunal decided in favor of the blockading powers. The dispute became significant in international law because the scope of the Monroe Doctrine was not extended to include such cases as this; further, the heated resentment of other Spanish-American nations over violation of the sovereignty of one of them resulted in the Drago Doctrine (see under Drago, Luis Mara).
The Columbia Electronic Encyclopedia, 6th ed. Copyright 2012, Columbia University Press. All rights reserved.
See more Encyclopedia articles on: Venezuelan History