The daily state chronicle. [volume] (Raleigh, N.C.) 188?-1891, 1890-04-17
PAN-AMERIUAN CONGRESS-.
AMERlCAN UNITY AND IT'S IN.
PORTANT PROBLEMS.

| what the International Conference
| Aimed At and hat it Has Done..A
| Continental Railroad and Pan.
American Bank Among the Possible
| Results.
(From New York Herald.)
| WASHINGTON, April 15.-Secretary
Blaine's gayel, as president of the Pan
American Congress, fell for the last time
on Yesterday
The gathering has been unique in the
history Of the western hemisphere. and
the American delegates, in looking over
the results, express themselves as we'll
satisfied. Some of the most important
problems have not been fully solved, but
enough has been done, they think, to
Justify the gathering and make it
memorable one for all the nations con-
oerned In spite of some sharp differ
ences of opinion, general spirit of har-
mony has ruled the proceedings, and the
South Americans have shown at every
stage the warmest friendship for the
northern Republic and d most earnest
desire to bind closer their relations with
her. The American delegates say that
while the descendants of the Latin race
woo have represented the southern c3un-
tries differ in methods of doing things,
and In ways OF thinking, from the people
of the United States, they have found
them agreeable companions and intelh-
gent workers in promoting the union Of
the continents While some have seemed
TO tower above others in intellectual
greatness, all have shown good sense and
patriotic Pan-American feeling
Three Important Problems.
The three most important subjects of
deIlberatiou, as one Of the delegates
named them, were arbitration, the in
ternational dollar and the continental
railroad. The United States is less in
terested, perhaps, in the subject OF arbi-
tratlon than any other countries in the
conference The American delegates.
however, have been willing to lend the
inhuence Of this country TO any agree
ment which should aim or propose to
prevent destructive wars b.tween the
South American countries. They do not
desire that the United States shall inter
fere with armed force, but they believe
; her moral weight ia an International ar
DItration would be sufficient TO prevent
! boodshed upon trivial grounds.
. The subject Of an international dollar
has been practically postponed for the
, consideration Of a conference 10 be called
, by the President of the United States
! within Year. 1t is doubtful! if plaI
; can be perfected even then, but The
Southern uations are in favor of If, anC
4 the opposition arises from the feeling
; that an international silver coin woult
force upon this nation a silver basis fo
] currency.
! The survey for the proposed Cont
mental railroad will be made within
y short time, and if the road is found prac
: tlcable FROM an engineering standpoint
! private capital will probably be ready t.
: push it TO completion. such roat
i would have tie benefit, not only of th
trade between the continents, but Woul(
: be assisted BY many local roads whicl
!. would connect with it in the dltferen
southern countries.
= Tae subject OF reciprocity has neces
sarily been left to negotiation, but th
: resolution introduced in the Hous
Saturday by Mr.. Hit shows that tn
Conference has not been without effec
!. ia directing attention in that direction
An International Bank.
0 Private capital will stand ready t
sustain an international bank for doin
banking business without the issue {
circulating notes. Some of the Sou
. Americans seem anxious for independeI
- banks for each of their own nations, br
will probably yield to the wisdom Of th
plan of single institution The bar
will be established under a Cnited Stat,
b. charter, which can probably be obtaine
os from Congress without difficulty. Sue
!, a b INK would result in the saving of
no large amount of money now paid IN G.
re changes to European bankers. A repo
E. OF TINS subject to the Conference say s.
n 1.-The total foreign commerce of II
,ra West Indies, Meyico and South and Ce
+, rIal America. amounted last gear
ed ST, ,Oo5, ,545, 900 United States gold tt
m total exchange Of commodities betwet
n the United States and countries Of Il
a South during the year ending June /
he 1888, aggregated $2S2, 902, 408, Of whi
T the imports into the UEited Stat
1r amounted to $1S1, ,05S, 966 If mercha
nr. disc, and $21 ,236, 791 OF specie and br
lion. and exports from the United Stat
use S71, ,93S, 1S1 Of merchandise, and s.
M 66s, 40 of specie and bullion. OF t
,ell $181, 900, 600 of merchandise broug
to into the markets of the United STATE
Mr., the greater part was paid for by rem
Fs- tances to London or the Continent,
slv cover drafts drawn II the exporti
fol- markets against European letters
on credit For the use of these credits
+er Europe commission of three -qnart'
y of one per cent is customarily paid, a
on. and the foreign banks reap this gre
nit profit at a minimum of risk, inaSmu
as the drafts drawn against these cred
ned are secured, not only by the goods re
fica resented by the shipping documel
an. against which the bills Of exchange ;
drawn, but also by the responsibility
NJ. the party { enerally the consignee)
, a whose account the letters Of credit {
issued, and without any outlay of ca
ent as the American merchant places
ned cash with the European bankers to %
such drafts at Or before maturity