The Lamar register. [volume] (Lamar, Colo.) 1889-1952, 1890-04-19
PAN-AMERlcAN RECIPROCITY.
The Congress of Delegates at Wash
ington Makes Important
Recommendations.

WASHINGTON, ID. c., April TO-
conference took up and disposed of the re-
ports of the committee on customs union,
adopting the report of the majority with
but three dissenting votes-those of the
Argentine Republic, Chilli and Paraguay,
The report adopted recommends that re
ciprocity treaties be negotiated between
the several republics of the American
hemisphere, each making tariff conces-
sions so that the peculiar products of each
may be introduced free into the others.
The committee on port dues reported
that, owing to special conditions prevail
ing in the ports of several nations in re
spect to the services for which the charges
are made, it is impracticable to completely
abolish the charges now imposed upon
vessels in the shape of dues. The COM
mittee recommends:
| l. That all port dues be merged into
single one, TO be known a tonnage dues
| :. That this one charge shall be as
sessed upon the total carrying capacity of
| the vessel.
3. That each government fix for itself
/ the amount TO be charged as tonnage dues,
| out with due regard TO the general policy
u
| Is to facilitate and favor navigation.
| 4. That there be excepted from the pro
| visions of article the dues charged or 10
be charged under unexpired contracts with
| private companies.
| >. That the following shall be exempt
from tonnage dues: l. Transports and
vessels OF war .. Vessels of less than
| twenty-five tons. x Vessels which shall
/ have been compelled to put into port by
reason OF damages suffered at sea !.
! \ achts and other pleasure boats
The report was adopted
The conference, at the time of adjourn
ment, had under consideration the report
Of the committee on banking In this the
committee says that the future develop
ment of the commercial relations between
North, South and Central America will
depend as largely upon the complete and
prompt development OF international
banking facilities as upon any other single
condition. There does not exist to-day
among the countries represented in the
conference, says the committee, any
organized system OF bank ex-
changes or credit, all the business be-
tween the countries Of this CONT
nent being done through Europe
banks, which are interested in the extsn-
sion of trade between Europe and the
Americas and not between the Americas
themselves. The total foreign commerce
of the West Indies, Mexico, South and Cen
trail America last year amounted TO :, O,5,-
as, 900, in United States gold. The total
exchange of commodities between the
United States and countries to the south
| aggregated s2S3, 9O2, +Os Foreign banks
reaped the profit of a commission Of three
| fourths Of one per cent. on a large proper
tion Of these sums, says the report, which,
together with interest and differences in
exchange, might be saved. The report
| continues:
Your committee believes that the best
means OF facilitating the DEVELOPMENT OF
banking business and offnancial relations
between the markets of North, South and
Central America, as well as for improving
| the mechanism of exchange without call
ing on any government whatever to exceed
/ Its proper functions, would be the passage
| of a law by the United States iucorporat-
| ing an international American bank with
| ample capital. with the privilege on the
part of the citizens of the several countries
| In the conference to take shares in such
/ bank pro rata to their foreign COM
| merce, which bank should have no power
| to emit circulating bank notes, but which
| should have all other powers now enjoyed
| by the National banks of the United States
| as to deposit and discount, as well as ali
| such powers as are now possessed by firms
| 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, coin and bullion, and
| with power 70 indorse or guarantee upon
| proper security, and generally to do what
| ever can already be done by the great
| banking firms which are carrying on their
| business without the aid of corporate char
| tiers, under the laws of a general partner
| ship. Your committee believes, upon we'll
/ founded information, that the capital to
such a bank would be promptly sub
| scribed.n
In conclusion, the report recommends to
the governments represented the granting
of concessions for international banking
and especially the establishment of an in
ternational American bank. TO be organ
lied under United States national char
ter, with branches or agencies in the sew
| eral represented countries, and, as incident
thereto, suggests to the delegates Of the
United Stntes the desirability Of submit
ting this report to the President of the
United States. with view that, should he
deem it proper, he may recommend to the
Congress of the United States the enact
ment of charter for an international
American Bank, for the benefit and en-
Iargement of the commerce of the Amer
icas.