The Birmingham age-herald., 1914-12-30
PLAN ORIGINATED BY M'ADOO BUT WILSON
 NOW Is INTERESTED
Believed Conference Will Prove Important Step To ward Promoting Closer Relationship-Will Inter- change Views

Washington. December 2a.-The unf- ted states has invited nII Central and south American nations to send their ministers Of finance and leading bank CTS to Washington for conference with treasury department officials and and commercial problems confronting the two tmcricns as result of the Erropcnn war. Several of the countries already bave accepted and the confer encc probably will he held carly in the spring.
 Invitations wers -ent formally througn the embassies md legations here. The plan originated with Secretary McAdoo, but Secretary Bryan and President Will son have taken an active interest in it. 1t has been suggested that Congress be asked for an appropriation to defray ox- penses, but whether or not this Is done the visitors will come as the guests of the United States. Tho state department has a contingent fund available for such a purpose.
 Important Step
 Officials of the state, treasury and com merce departments expect the conference to prove an important step toward bring- ing the two American continents ints closer commercial relationship. They bee lieve that in the Pan-Amercan movement lies the hope of south America for tlnan- cial independence of Europe, and suggest the possibility of New York becoming at least a serious competitor with London for supremacy as a worlds financial een- ter.
 It has long been recognized that the crux of the difficulties in the way of commerce between the United states and other American nations lay in the ques- ton of credits. South and Central Amer ican nations have been accustomed to seel, and easily obtain long term credits in Europe.
 At present bankers of the United States do practically no business direct with South America and foreign exchange with countries there is carried on through London. Largely to this has been attrlb- uted the comparatively small amount ot trade between the United States and her next door neghbors to the south.
 When the war broke out, South America suffered severe shock to her international business system. Recent ly one of the largest North American banks established branches in Rio Janeiro and Buenos Ayres, with the approval of the federal service board Others are expected to follow. Never theless there has been no great stimu- Jus to trade and no we'll defined move ment to make direct banking operations possible.
 Interchange of Views
 Officials expect to zee an interchange of views at the forthcoming conference that will lead to establishment of many connections between houses in the cipal South American countries. Those familiar with financial conditions de lare that money is especially easy in this country, and that there are mil lions of dollars lying Idle which might well be invested south of the equator.
 The experience of Secretary McAdoo with Sir George Paish of the English treasury, Is said to have inspired the plan for the conference. Problems which had puzzled the bankers of England and the United States were smoothed out here in a few weeks as 8 result of Sir Georges visit
 Detailed arrangements Tor the cor- ference have not been taken up. but 1t probably will be held at the Pan- American union building. The sessions are expected to continue for at least a week