Sacramento daily record-union., 1890-04-11
PAN-AMERICAN CONGRESS.
Discussing Several Questions of Interna
tiDnal Importance

Uonal Importance
WASHINGTON, April 10th.-The PAN
American Conference day adopted the
report of the majority of the Committee on
the Customs Union with but three dissent
ing votes-the Argentine Republic, Chile
and Paraguay. The report recommends,
IN substance, that the reciprocity treaties
be negotiated between the several repub-
lies, each making concessions, that the
peculiar products of all may be introduced
free into the others.
The Committee on Port Dues reported
that it is impracticable 10 completely abol-
lsh the charges now imposed on vessels,
and made recommendations as follows,
which were adopted:
That all port dues be merged in a single
one to be known as tonnage dues This
charge TO be assessed upon the total carry
ing capacity of the vessel. Each Govern
ment to fix for itself the amount to be
charged, but with due regard to the gen.
eral policy of the Conference upon the sub
ject, which is to facilitate and favor nayi-
cation. That there be excepted dues
charged, Or to charged, under the unex-
pired contracts with private companies.
That the following be exempt from ton
mage dues: Transports and vessels of war,
vessels of less than twenty-five tons, ves-
sells which shall have been compelled to
put into port by reason of damages suffered
at sea, yachts and other pleasure boats.
The conference, al the time of adjourn
ment, hac under consideration the report
of the Committee on Banking. 1t saws the
future development of commercial rela-
tions will depend as largely upon the de-
Velopment OF international ban king facili-
ties as on any other single condition.
The foreign commerce of the West In
dies, Mexico, South and Central America
last year amounted 10 $100, ,S55, ,45O in
United States gold coin. Total exchanges
OF commodities between the United States
and the countries south aggregated $685.
902, 40S. Foreign banks reaped the profit of
the commission of three-fourths of one
per cent. on large proportion of these
sums, which, together with the interest and
differences in exchange, might be saved to
the several countries.
The report recommends the passage of
law by the & nited States, incorporating an
International American Bank with ample
capital, with privilege on the part of the
citizens of the several countries in the con-
ference to take shares in such bank
pro rata 10 their foreign commerce.
The bank should have no power 10
emit circulating bank notes, but should
have all other powers now. enjoyed by the
National Banks of the United States
as to deposit and discount, issuing letters
ol circuit, nhahluS loans, ETC, ana generally
to do whatever can already be, done by the
great basking firms who are carrying on
the business under the laws of general
partnership.
The report recommends to the Govern
ments represented the granting of con-
cessions tor international banking, and
especially bank organized as above with
branches or agencies in the several coun-
tries.
The committee suggests to the United
States delegates the desirability of submit
ting report to the President, with a view
that should he deem it proper, he may
recommend to ;he Congress of the United
States the enactment of charter for an
international American bank for the bene-
fit and enlargement OF the commerce of the
Americas.