The Esmeralda Affair and the transfer through Ecuador

Chile wanted money for its naval competition with Argentina while Japan urgently sought ships during the First Sino-Japanese War. Japan used about a third of funds previously earmarked for three Argentine warships that it had been unable to obtain. To preserve nominal neutrality, the transfer ran through Ecuador, whose navy briefly took possession before selling the cruiser onward. Public belief that Ecuador might retain the vessel against Peru intensified domestic anger and contributed to the Liberal Revolution that removed the president.