The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-01-16
FINANCIAL UNION
FOR PAN-AMERICA
Wilson Asks Congress for Au-
thority to Invite All Re-
publics to Confer.
COUNTRIES o. X. THE PLAN

WASHINGTON, Jan. 15.--Secretary Nc
Adoo. acting under Instructions from
President Wilson, wrote a letter to-day
TO the chairmen OF the Foreign Affairs
committees Of the House and Senate. re-
questing the passage Of resolution which
would authorize the President to invite
the governments OF Central and South
America to send representatives to
financial conference In the United States.
The resolution would also appropriate
$4,000 for the expenses OF the confer
ence.
Mr.. McAdoo included In his communi-
cation a draft OF the desired resolution
which had been framed at the State De-
partment The McAdoo letter says
with the approval OF the President
submitted to the Secretary OF State on
November 5 last that an invitation be
ext,uded to each OF the Central and South
American governments to send 10 Wash
ington its Finance Minister or some duly
accredited tinancier for conference with
the Secretary OF the Treasury looking
to an Improvement In the financial rela-
tionshlp between the United States and
the Central and South American coun-
tries and that these governments be in
vted also to send three representatives
OF the banking interests OF each country
TO Join In the conference.
81 also suggested that II the Central
and South American governments should
be tavorably disposed to the idea tie
Secretary OF the Treasury would invite
representative American bankers to par
ticipate In the proposed conference. In
my letter to the Secretary OF State
expressed the conviction that Improved
financial relations between the Central
and South American countries and the
United States are or primary Importance
and that the proposed conference would
be productive OF great good.
'"rhe Secretary of State informs me
that he has conferred with the various
countries concerned and that the idea has
been favorably received. | enclose a let
ter from the Secretary OF State bearing
the approval OF the President. suggesting
the passage of joint resolution author
zing the President TO extend formal
Invitation to the Central and South
American governments to participate In
the proposed conference and authorizing
the Secretary Of the Treasury to invite
representative American bankers to at
tend. For the purpose Of entertaining the
foreign conferees an appropriation OF
$50 900 IL required.
The unusual conditions prevailing
throughout the world to-day make tho
proposed step exceedingly timely and Il
should result In greatly improving and
strengthening our relations, financial
commercial and social. with our neigh
boring republics In Central and South
America.
"In my first letter to the President the
suggested date OF the conference was Feb
ruary l. but in view OF the unavoidable
delays which have occurred In the mean
time It will be necessary TO Tx a later date
The joint resolution therefore authorizes
the President to call the conference at
such a date as he may think advisable.
Permit me to suggest the desiraollty
of prompt action In this matter, particu-
larly In view of the fact that the various
governments with which the Secretary or
State has already communicated have
evinced most cordial and friendly dis
position in the matter"