The Washington times., 1915-05-19
Seek Way to Use New
Financial Resources
Financial Conference of Pan-American Nations Has
Before 1t Problem of Spreading North Amer-
can Credit Over Western Hemisphere.
Bv JUDsON c. WELLIVER.

Down under the surface of the Pan
American fscal conference that is to
De heid In Washington next week.
SOME very important business Is like
ly to be transacted.
The big problem of spreading North
american credit and financial re-
sources over the whole western hem-
lsphere so as to finance the neces-
sitles or tie new world, will come
before the conference. 1t will be
taiked about in the public meetings;
done there,
Rather. a series Of subcommittee
meetings will attempt to deal with
TINS question in it's practical, work
thst w Thers S.a WV With be the isfse
amities. but back Of this VIII be
meetings of groups and committees.
or bankers and business interests,
looking to the solution of present;
the American world.
Help For South America.
In these private sessions of groups
the effort will be made to work out
practical 'plans for using the financial
reserves OF America in some sort OF
cooperation. In order that the demands
South America is face to face with a
condition which the people OF Pe
United States have. thus far, only
vaguely visualized. The United States
must help it out-if 1t gets out. The
authorities, and the banking interests
of the United States are anxious to
provide every possible facility for
amelioration Of the conditions In the
atin-American countries. The QueS
tion is, what can they do?
Not q great deal has been published
concerning the innermost purposes and
| ambitions OF the men who are organic
ing this conference OF the financiers OF
all the Americas. 1t Is known. how
McAdoo has most ambitious purpose
In mind. He is declared by associates
to regard this gathering as his oppor'
tunity to inaugurate new relation
ship among the American countries
and among the business men who guide
| their affairs. that will through the gen,
| erations Of the future be a monument
to his constructive capacity. Indeed
poses that are just now moving the
Secretary believe that he has a design
which, II II can be realized. will write
his name very high among the admins
| traitors Of the Treasury.
Field For America.
Europe is pulling for American
| money, American credit. the activities
OF American manufacturers with al
| the power 1t can bring to bear. 1t has
| the advantage Of long established re.
lationships, and OF assured credits. II
Is able to give the pledges OF govern
ments whose bonds are like gold In q
| vault; of commercial relationships. and
| Of concrete wealth which represents g
| very large proportion OF the quickly
| availa Bile assets Of the whole world
| 1t is using every inducement possible
| to secure credits in the United States
| on which supplies Of every sort may
| be purchased to keep the activities ol
! the war going at full speed.
| South and Central America have no.
these things. They need an tntroduc
| ton, and after that they must presen
| their financial statement and get thu
| O. X. OF American financial authority
But over on the other side is tho fac
| that they present a field OF business op
portunity for the future that Is proving
attractive to American business. AM
| ina ag1nation Of Secretary McAdoo.
Problem Of the War.
South America has been cut OF from
many Of It's relationships with Europ
by reason of the war. The countrie
there have all been debtor countries
and, for that matter. the United State
| has been one too. Probably the Unit
| ed States owes seven billion of debt
| abroad, which IL as much as all Sout
| America owes there, according to tn
best estimates that can be secured a
this time. But on the other side Is tn
big fact that tho United States ha