What's really interesting in the context of this discussion - or at least what this discussion has become - is this: Do we as a modern society/modern day caucasians need to assume guilt for something that our ancestors did over a hundred years ago?
Using the ancestors' "deeds" is good ammunition to insult people. Do you expect people to surrender that?

You should fear me because I killed thousands of native americans (mayans and such), plundered their lands, destroyed their cultures... Hell, reminds me of that Buffy The Slayer episode with the "native american" ghost/spirit. Go Spike!
That said, if someone were to start the Oilgiving after Irak thingy, that would raise eyebrows with good reason.
The only real responsability we have toward those actions by our ancestors are that if they were bad, we don't repeat them. Expecting too much from mankind though.
I mean, someone from my country just claimed legally the Sun as her property, so how more stupid can we be?