The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1914-08-27
GOVERNMENT MAY
TAKE WAR RISKS
OF MERCHANTMEN

Washington, D.. G. Special: Gov
eminent insurance against war risks
Of American register ships and their
cargoes was the solution offered yes
terday by 60 representative business
men OF the country for the stoppage
of American overseas be-
cause Of the European war.
The proposal was made In definite
form after an all-day conference, pre-
sided owe by Secretary McAdoo, Of
the treasury department, who called
the meeting. Practically all Of the
largest banking n shipping interests
In the United States were represented.
The conference appointed a committee
of IL, headed by Seth Low, president
of the National Civic federation, to
remain in washington and advise with
the governmental departments and
committees Of congress during the
framing Of legislation believed neces-
sary to relieve conditions produced by
the wal abroad.
Draft of Bill Begun.
The committee has begun drafting
a bill to be presented to congress i'm
mediately and pressed for passage,
with a view to have a government in
suranc bureau in operation as soon as
possible after the pending measure
modifying restrictions on American
registration Of foreign built ships goes
into effect.
In addition to Secretary McAdoo Of
fcials who participated in the con-
ference were Secretaries Houston and
Redfeld, all the members of the fed
eral reserve board, Senator Owen and
Representative Glass, chairmen of the
senate n House banking committees
and Representative Adamson, chair
mar of the House interstate and fore
ign commerce committee.
F~inanciers Speak,
Many speakers, including j. P. Nor
gan, James J.. Hill and other %fnanciers
pointed out the fact that Great Britain,
france and Belgium already had pro-
vided for government war insurance Of
their merchant shipping. Against his
action they said the United States
would pass under the American flag
with the passage of the proposed
registry law unless their owners were
assured of insurance under the stars
and stripes. The result would be a
foreign monopoly of sea ~transporta-
ton, they predicted, and the fixing
abroad of the prices at which Ameri-
can wheat and cotton would be sold.
Committee Named.
Early the session showed opinion to
be unanimous among the business men
and the government officials present
that the problems to be faced divided
themselves naturally into three heads:
dlloll VI d market lot foreign GX-
change bills. the immediate acquisition
OF transportation for American wheat
and cotton to European markets and its
wal risk insurance. A committee was
named by the conference to provide the
government with expert advice in each
of these branches.
A m of the federal reserve
board to aid in the elaboration of each
Of the subcommittee was named by
Secretary McAdoo as follows: War in
surance A. C. Miller: transportation.
F. A. Delano; foreign exchange, Paul
NJ. Warburg.
The committee on war insurance be-
gan work last night on the preparation
of measur 1t will present to congress.
The discussion at the conference left
no doubt that the measure was to be
purely an emergency matter and that
the government was to receive premi-
ums on n insurance 1t might write.
Wilson Makes Address.
The conference interrupted its DELHI
erations in the afternoon to go IN a