The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1915-09-07

mont ever last year the total tor
June. 1913. bcino valued n sta,fta,-
zoe against f4.s7s.ooo in Tune. lslf;
and Tor lhc ak months cnalns with
June last fso.aGs.ooo. in comparison
with ss2.2es.o 300 Tor the arai half and
fse.1st,ooo for The Iani hair OF ieia.
Imports from south America are
also considerably lhrrer than q year
age. For Junt tho official figures 81
the bureau Of foreign aud domestic
commerce. dcpnrtment az commcreo.
iust puhllshed a. iss Monthly SUM
mary Of Fofcian Culnmcre Show n
total o. ssd.sfo.peo. aRain,a sis.ffs.-
ooo In Jana. 1919; aud Tor tho first
six months ending Juno 80. slss.ofa-
coo. against s~i4s.o7t.ooo In the nrat
half and slos,ts7.oo0 In tho second
half Of 1914.
During the earlier monshs II the
FISCAL year our trade with south
Amcfica wns seriously Disturbed. ana
our total exports thereto in 1914 fen
IN value 20 sss.5ss.eoo. OF ~sss.oo0ooo
below isas, and "a Was o untli
March. 1918. that the upward trend
was definitely resumed.
Doubtless she war has had much
TO do with the Increased Latin-Amer-
lean trade. but no one can doubt that
the energetic embracing Of an oppor-
tnnity has had most 20 do with the
vast business increase shown. n is.
interestins. then, Il note the sngges-
lions made by Mr.. McAdoo for carry
ing on the work OF the pan-American
financial conference and further
strcngi hcning the relnticns between
the Americans. These ne summer
ICES as follows;
First. that the twelve federal re-
serve banks establish promptly joint
agencies In the leading cities Of all
the countries OF central ana south
America Tor the purpose Of providing
ENLARGED credit facilities, AS outlined
81 the arst part OF his report
second. That the government Of the
United states provide promptly the
necessary steamship facilities by sub
scribinE the capital stock OF a corpo-
ration organised for the purpose of
owning and operating the necessary
steamship lines
Third. that the international high
commisison on uniformity q laws he
granted an appropriation OF 5000
to enable Il 70 carry on the important
work il has undertaken aud represent
the United states In the meeting Of
the international high commission Of
4 an the Latin-American republics.
Fourth. that a Pan-American con-
ference b. held annually Ia the city
Of Westminster ana that the congress
authorize the president to extend invi-
= %tations Co the republics ol Latin-
America o. attend 81 financial coufof-
y ence In the city Of Washington durins
y thc year 1916. and that an %appropria
! ton Of $4,000 bc mndc tor said con-
z ference"
In support of his suggestion Tor the
establishment 81 joint agcn jos OF fcd-
cral reserve banks in ~ncishaorlns rc
publics Mr.. McAdoo says thnt extern
{ sion 81 the credit facilities OF tins ma
ton ln those ~cc-ntrics viii inurc TO
q their and our advantage Hc de-
{ ciares that The plan advanced during
{ tho recent conference for the amend
e mcrt of the national hanH ltf .n lhJt
d national banks could hccui1o stock
holders an an independent bank which
would Do e foreign busino4 Be- inferior
= % that he now proposes Tor joint
b agencies Of the reserve bauas
e 'The federal reserve Danta." De-
argucs. comprise in their member
ship every national bank ih the United
( States az well as a number 90 leading
e state banks and trust %compe1icf The.
d constitute "a financial orgal,zntiun ol
~ulcquallcd strength. and their opera
. lions In foreign countries Will be Tor
= the common bcuent ot 4ll hanks COM
posing the system. Those agencies.
! In foreign countries could. in additioa
10 their banking lesjncs-. render ID
J. great service 10 American cuisines.
men ana bankers by furnishing crodl
reports ana general Information about
n trada and finance in tho yarIoua eouu.
e trios in which they operate
The federal reserve act Mr. SIC.
= Adoo points u authorize the cstlb.
, iishInent OF such agencies with tn,
consent Of the federal reserve board
and while the banks canuot bc com
PEELED 10 take actiou alont these lines
encouragement by the nolId may
prompt them to IL. Entrance into thi.
nell by the federal reserve banks
@r McAdoo says, viii uo, proven.
, member hanks FROM carrying ON and
eniarslue the businos- th,y arc nov
doluE liza IIreIUu ruuUt|IUE. but fHi