The Washington times., 1915-05-24
Continental Solidarity
Advocated by McAdoo
1t Should Rest, Says Secretary of Treasury, on Ma
terial Interests, Political Accord, Common
Ideals, and Mutual Helpfulness.

THE countries Of the western hemls-
phere have been seriously affected, and
are obliged to consider what measures
shall be taken to protect their own M
mighty Eurooean struggle. We of toe
United States have already tasted the
bitter experience of disrupted credits,
paralyzed shipping. and drsorganiked
overcome them now. but our experience
enables us to know and appreciate to
tho full the difficulties which you, our
neighbors, have been forced to meet,
perhaps in larger degree than our
selves. from these same causes. Real
izing these conditions. II seems both
wise and necessary that we should
come together for the purpose os con-
sidering the problems that confront us
and concerning the means by which
they may be successfully met and con-
quered."
Suggests Discussions.
Secretary McAdoo submitted list Of
two score or more questions that might
well be considered in the general and
group conferences. and asked for a full
discussion on transportation and trade,
| as handmates Of finance.
The question of the establishment
OF branch banks Of the United States
In the various South and Central
American countries, and the establish
| ment by those countries Of branch
banks in the United States, deserves
your earnest attention" he said.
| Commercial credits and direct ex-
| change, and the facilitation Of CONNER
cial transactions depend upon the right
| sort of financial organization. Under
our Federal reserve act the national
banks Of the United States have con-
| solidated and organized their credit re-
| for the first time in the history of this
| country. prepared to do a large amount
| of foreign business. They are also au-
| thorized by law to establish branches In
foreign countries Already some OF our
| banking institutions have established
branches in South and Central America
| Under our Federal reserve act the Fed.
eral reserve banks themselves may
| serve board. tablish agencies in for
eign countries.
Setting World Example.
THE completion OF the Panams
canal posses a significance for deeper
than the economy of time in trans
portation. 1t means the establishment
OF a new community of trade inter
lests, and must inevitably bring witt
lit closer cultural and intellectual re
lations between the northern ant
southern sections of this hemisphere
"A combination of circumstances ant
|. forces. economic. political and moral
is bringing us each day to fuller re
alization OF the part that we are call
ed upon to play in giving to the worlt
, an example of the possibility an,
practicability of international CO
operation.
Nothing would so stimulate trad
between the southern republics an
the United States and make so Ger
tain the investment OF United State
capital in those countries as laws o
substantial uniformity relating I
commerce and finance, particularly ]
such matters as trade marks and pat
ents. consular invoices. bills of ladins
regulation OF commercial travellers
admission Of samples, and many fea
t lures of the custom laws. bills of ex
t. change. uniform money standard. an
various other things which 1t Is no
5 necessary to enumerate.
/, To Consider Uniform Laws.
= II desire to appoint committe,
consisting Of one member selected b
the delegation OF each country repre-
= sented here, to consider the questio
e of uniform laws and submit a repo,
= before the close of the conference.
{ would suggest that this committt
Y consider recommendation that
:. high commission. consisting OF repr'
q eentatives OF each government.
n created for this purpose.
The future OF the western hem
l. sphere gives promise OF practicI
# and altruistic leadership that will
d time powerfully and beneficially 1,
fuence the course Of world events.