New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-04-11

emit circulating but which should have all
other powers enjoyed by the national banks OF the
United states 10 deposit and discount. well a. all
such powers are possessed by INNS OF private
bankers In the matter OF issuing letters OF credit and
making loans upon all classes Of commodity. buying and
selling bills of exchange coins. bullion and with power 10
ndorse or guarantee against proper security and generally
to do whatever already be done by the great banking
firms who carrying their business without the aid Of
corporate charters laws OF general partnership
Your committee believe upon weoTndcd information that
the capital to such bank would be promptly subscribed
The United States Government might and should. re-
serve the largest yisorial powers The business oil such
bank could be conducted with perfect safety and with
profit TO its Shareholders and the greatest benefit To our
international Branches or agencies Of such
bank could be established all OF the principal financial
centres OF America with the formal recognition OF the Gov
crnmens OF the several States in which such agencies are
established. arrangements might be entered INTO WIN
existing banking institutions o. the other countries i"'
transacng the business thus anording markets
throughout the continents for the purchase ana SAFE OF
bills of exchange facilitating and improving credit condl-
tons generally, and perfcctine complete mechanism Of
exchange such already exists between our respective
countries and European money markets nut when has
yet existence between the markets OF North
South and Central America for the reason already su
One of the direct benefits be- derived by all OF the
Governments represented in the lh'''na"o""
Conference from the establishment of such bank would
be- that the several countries III inherent
classes Of American securities would have better means imam
any which now exist making such investments FOR
example South Central American State ABOUT 10 no''
foreign loan would itself less dependent upon Single
combination or syndicate Of European bankers thah a pres
ont rhcr ,yould he open such borrowing state two
markets which apply for National loans aS AGAINST
single market TO the mercy OF when saiu Dorf"NnH ~
mont is now virtually exposed. The holds good as n
all classes o State and municipal securities "m''''
Latin American investors would find readily at
command for the investment in and investigation OF all
classes Of North American securities ana the investors y"
the United States would also find means for the inveStra
in all classes OF securities issued D'
States municipalities or corporations oil lauh America
INCREASING WEALTH OF THE AMERICAS.
Your committee recognizes the fact that London has for
many years derived largest possible benefits through IT.
banking facilities with our several States ID ''N"- d"
classes OF American loans which have generally proved
themselves most stable and desirable character
but nevertheless upon terms which have yielded the Lon
don bankers abnormay large profits simply because the
element Of competition does not exist 10y reason oi ' W
cnce of proprr banking relations between the several
American countries. The Institution of such a bank a.
proposcd would ut once afford relief against this state on
affairs would be Of benefit not only to the merchants
In the manner described all classes OF investors s
orally. and without distinction
In recommending the organization Of an international
American Bank the cndaton is based upon the
present condition OF trade The establishment Of better
means Of transportation and the promotion Of trade in other
WAYS Will enlarge the demand for the class Of facilities II
banking character which ha- already been referred TO-
The rapidly wealth Of North and south America
also enhances the need for complete system OF lh'f
American exchange and insur"s th" subscriptions i"r 81
adequate capitalization Of international American Bank
to NEE. such needs. evidence Of this Increase" the
valuation property Of the United states In 1870 was
estimated at $50 900 in sos 1900 600 oo'ns
somewhat than the estimated value Of the property OF
Great Britain at that The capital and business oil The
Americas much larger than when European facilities
for banking between Europe and the Americas were eaD
shed.
Ranks OF the character described having agencies in m"
financial centres the counties here represented "oulG
materially promote establishment and immediate Use ~
common standard for calculating values whenever such
standard shall be determined upon by the countries ia in
tcrcst.
While the sentiments Of the independent nations Of this
Continent are favorable the settlement OF all disputes b'
arbitration expressed by resolutions introduced IN h-
Conference thus rendering highly Improbable. II not
impossible among them. there exists no such guai1n"
that war may take Place in Europe In such event a.
long "a remain solely g. ycndnt for our financial a.
ctie, upon European money centres compet" d"ora
zaon OF our credit facilities and money markets Woui
necessarily follow and financial disaster ana distress
which would be considerably e,sened, II not altogether
avoided were there wellorcanzed system OF
can exchange