The sun., 1915-05-23
DOLLAR EXCHANGE
TO Be THRESHED OUT
Latin American Financial Ex-
pcrts Also Take Up
Postal Union.
WILSON TO ADDRESS THEM

conference by Secretary OF the Treasury
McAdoo with delegates from all but
Of the Latin American republics
.srked the opening here to-day Of the
conference which has been called to
S,vise means whereby the countries OF
this hemisphere may avoid future fnan-
c!al disturbances such as resulted from
. the outbreak Of the European war and
at the same time prepare to reap the
benefits OF the new opportunities which
Il has brought.
At this meeting the formal programme
for the conference was disclosed by
Secretary McAdoo and the advice OF
each delegation was sought in regard to
possible changes All OF the delegations
approved II in every detail after they
had been reminded by Secretary Nc
Adoo that the programme was subpect
TO addition at any time in order that
ideas which the delegates advanced
might he fully discussed.
Later in the day this programme was
given out. II consists OF n weeks round
Of speech making by President Wilson
and lesser officials and one of the most
arduous schedules OF social entertain
ments ever undertaken on 10 large
scale at the national capital The first
day will be given over TO Cabinet Of
ficials, the second to the Federal Re-
serve Board and then will follow dis
sertations by the delegates of the United
ho
Week of Discussions.
The real Importance Of the conference.
however, will consist in the Informal
discussions which will take place among
the different delegations during the
week. The delegates have been parcelled
ofY into committees, and to each commit
tee has been assigned one or more
American delegates. These committees
will report to the full conference on
Friday and whatever Joint action the
conference may take will he based upon
these recommendations.
The social events include a reception
BY President Wilson, luncheons at the
residence OF Secretary OF state Bryah
n reception by Ambassador Naon In cele-
bration OF the fifteenth anniversary OF
Argentine independence. breakfast AZ
the home of Assistant secretary OF the
Treasury Peters, a banquet at the Pan
American Building and visit 60 Mount
Vernon on the Presidents yacht May
flower.
At the end of the week the. delegates
will leave on special trains for tour
Of financial and Industrial centres of the
United States. The greatest possible care
has been taken in arranging the soclal
schedule in Difference to the customs OF
'hr Latin American countries. The en-
tire conference Will be characterized bN
eve'y Imaginable formality.
There were indications to-day that
some of the delegates who Lave arrived
are not pleased with the arrangements
which they find have been made.
Must he ON Guard.
II is evident that one thing that the
Treasury and State Department officials
In charge Of the conference will have
TO guard against carefully. Is the crea-
tion of the impression among the Latin
American delegates that the conference
II being manipulated To secure special
benefits for the United States to the
neglect of the interests of the other
countries participating.
II was pointed out that two of the
purposes which Government officials are
believed to have in mind to further are
the estimate Of dollar exchange" with
all the American countries and the pro-
motion OF United States merchant
marine.
Here are excerpts from n statement
given out from the publicity bureau OF
the conference here to-day:
practically all the South American
delegates are unanimous in wanting to
a
States the practicability of establishing
dollar exchange so they can transact
their business with this country easily
In dollars and cents, and not have TO
make the reduction to dollars from
pounds sterling or. some other foreign
exchange.
while each Of the eighteen coun-
tries has its own individual trade fea :
lures to present and argue. there Is
no doubt that the dollar exchange win
he one of the main topics of general
discussion in the informal conferences
which will be an imI ortant and busi-
nesslike feature OF the big gathering.
All South America is interested in the
establishment OF American banks in the
principal South American cities where
commercial paper representing Pan
American trade can be readily n-Eo-
tiated
May Enter Postal Union.
'The question OF the United states
entering the South American postal
union has already been brought to
the attention OF the United States Gov.
ernment. That business would he IA
cilitated II lower rate of postage
could be established and maintained
between this country and the South
American republics is urged by sew
eral OF the delegates and probably viii
be discussed. from the floor of the CON
vention. The South American coun,
tries have a postal union of their own
with system of postal rates lower
than those to countries OF other CON
tinents. and ii will he suggested tha:
the United States should consider tho
feasibility of entering IT,
Along with the postal questions the
subject OF an improved money order
eNchanc. between the northern and
southern hemispheres is uppermost IN
the minds of several South America n
delegates. Questions concerning tho
discounting Of commercial paper also
will he discussed between South Amerl-
can bankers. and the financiers of the
United States.
"The question OF improvement in
stoampship facilities hotwocn the United
states and ~ South American ports
Is most important topic to be talked
over"
Whitney In Mntbic's stead.
Secretary Travis n. Whitney viii
h. g,,Il L..