Evening star., 1914-08-15
Additional Steps Taken.

Steps also were to be taken today by
the full committee to carry out the
recommendations of its subcommittee
on foreign exchange to the following
effect:
Requesting the Treasury Department
to deposit funds In leading financial
and export centers for exclusive use
in facilitating exports.
Requesting the State Deparement to
secure release of funds held in foreign
shipments diverted from their original
destination or Communicated, and urg-
ing the federal reserve board to take
UP the question Of establishing an in
ternational clearing house.
The subcommittee on TRANSFORMATION
was to take up today the question of
amendments to the navigation laws de-
signed to make permanent merchant
marine for foreign trade. Its report
on this proposition probably will be
submitted next Wednesday. when the
full committee resumes it's sessions
The Resolution Adopted.
At the conferences held yesterday the
following resolution was adopted: -
Resolved. That this conference urge
the United States government to establish
bureau of war risk insurance to be
administered under the direction of a
suitable government department, by a
shall assume the risks of war on Ameri-
can vessels and American cargoes shipped
or to be shipped thereon. whenever In
the judgment Of the board it shall ap-
pear that American vessels or shippers
on American vessels are unable. in any
particular trade, to compete on equal
terms with the vessels or shippers of
other nationalitieS by reason of the pro-
lection offered such other carriers or
shippers by arrangements for war in
oh fhatr arfG mr.
that such board have power to fix rates
or premium subject to change to each
country or for each class of cargo"
The Presidents Address.
President Wilson made a brief ad-
dress to those who attended tho con-
ference.
-"If we get no other benefit out of
the present trying circumstances In
the world at large" said the President.
I'VE shall at least get this benefit: We
each other not as members Of different
parties, all our prejudices fallen away
from u.s. coming together as Americans
for a common object that is not touched
Of any sort Surely handsome results
will come out of the spirit in which
conferences of this kind are held.
Il believe you will discover. those OF
government has means. somewhat fully
developed means, for assisting the com
,mercial and industrial operations of the
country. and that, therefore, 1t is worth
while to maintain the kind of connection
which Is here momentarily established
We have been face to face with very
critical circumstances. For my own part.
feel that the period of apprehension has
passed and that the period of steady,
sensible, concerted. constructive action
has come, and that We are in the temper
to bring that action about in the most
effectual way:
Il am sure that all of us here wish to
put ourselves at your disposal. as I am
sure you would wish to put yourselves a,
our disposal, to work out common
means for a common end. Such confer.
ence as this furnishes acceptable proof
to the country that the antagonism be.
tween government and business has dis
appeared and that there has come upor
business the spirit of generous rivalry
and cooperation which is the essence o1
statesmanship.
II have no thought except the though,
Of self-congratulation in the matter, be-
cause. rs l have said, this Is not a selfish
but a wholly public-spirited operation. 8
thing that we shall lok back to with
pride. We shall remember that Americs
knew how to handle herself in such &
way as not only to help herself. but also
to serve the rest of the world"