The Anderson daily intelligencer. [volume] (Anderson, S.C.) 1914-1915, 1914-12-30
AND COMMERCIAL
PROBLEMS TO.BE DIS
cUSSED
NORTH AND SOUTH
The Two Americas to Meet in
Great Conference That
VIII Pay.

WASHINGTON, Dec. 29.-The Unit
ed States has invited all Central and
South American nations to send their
ministers Of finance and leading
bankers to Washington for a confer
ence with treasury department Off
ciais and Gnanciers OF this country
on financial and COMMERCIAL problems
confronting the two Americas as a
result of the European war. Several
or the countries already have accept
ed and the conference probably will
be held early in tho spring.
invitations were sent formally
through tho embassies and legations
here. The plan originated with Secre-
tary McAdoo, but Secretary Bryan and
PRESIDENT Wilson have taken an act
Two interest in it,. The visitors will
come rs the guests of the United
States.
Officials Of the state, treasury and
commerce departments expcct the
conference 10 prove an important step
toward bringing the two American
continents into closer relationship.
They believe that In the Pan-Amcri-
can movement lies tho hope of South
Americas for fnalcial independence
OF Europe. and suggest the possibility
OF New York becoming at least a SER
ious competitor with London for su-
premacy us a. worlds financial center.
II has long been ~retognized that the
crnX OF the difficulties I'm the way OF
commerce between the United States
and other American nations lay In the
question of credits. South and Central
] american buyers have been accustom-
to seek and easily obtain long term
oats in Europe.
| present bankers of the United
St, . do practically no business di-
rect with South America and foreign
exchange with countries there is car
ried on through London. Largely to
this has been attributed the compare
lively small amount of trade between
the United States and her next-door
neightors to the south.
When the war broke out, South
America suffered O severe shock to her
international business system. Recent.
ly one OF the largest North American
banks established branches In Rio
Janerio and Buenor Aires with the
approval Of the federal reserve board.
others are expected to follow, Never
theless there has been no great stimu-
LUIS to trade and no well defined move
ment to make direct banking opera-
lions possible.
Officials expect { see an inter-
cnange of views at the forthcoming
conference that will lead to establish
ment of many CONNECTIONS bel tween
houses In the United G.ates and those
in the principal South American coun-
tries. Those familiar with financial
conditions declare that money Is es-
pecially easy In this country and that
there are millions OF dollars lying idle
which might well be invested south of
the equator.
The experience of Secretary Nc
Adoo with Sir. George Paish. OF Mhe
English treasury. is said to have In
spired 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 a result OF Sir Georges
visit.
Detailed arrangements for the con-
ference have not ken taken up but
1t probably will be held at the PAN
American Union building. The ses-
sions are expected to continue for at
least q week.