The Birmingham age-herald., 1915-06-07
BRYAN SUGGESTION ! APPEALS STRONGLY ! ID THE F|NANC|ERS Relates to Method of Assist ing Finances of South American Nations BANKERS KEEPING AN EYE THAT WAY Columbia One of Few American |f Universities to Honor An Ac- tive Daily Newspaper Worker
By HOLLAND

New York, June 6.-(Special.)-The inter
 national financial proposition attributed to
 Secretary Bryan is the subject or a
 good deal of discussion here for several
 reasons, much of it being favorable. The
 secretary is reported to have suggested
 that the United States become the market
 for bonds issued by the nations or South
 America and of Central America, pre-
 sumably to bear interest at per cent
 These bonds are to be paid for by United
 States bonds bearing interest at per
 cent. That would appear to be per cent
 in favor of the United States, but II the proposition be adopted this l per cent
 would be set apart to create sinking
 fund which would liquidate the bonds of
 other nations in little under 50 years.
 Naturally the first comment caused by
 this proposition was that it is so-calied
 "dolar diplomacy and nothing else But
 there has been change of view respecting
 dollar diplomacy since the present admin
 istration assumed office, a little over two
 years ago. It was exclusively dollar diplo-
 macy which was at the bottom of the six
 nation agreement in which the United States was to share equally with the other nations in lending the new republic or China ultimately much as S30o,OOOoo0. Our own bankers, at the request of Secre- tary Bryan's predecessor, Secretary Knox, agreed to organize a syndicate which would accept for the United States the proportonate share of this Chinese loan which the six-nation group organized to make. The sole purpose of Secretary Knox and of the American bankers was to see to it that the open door was main- tained in China and the sovereignty and territorial integrity of the republic were not impaired.
 It seemed expedient to the present ad- ministration to withdraw the moral SUD- |, port of the United States and there were intimations that this was done because the apprehension was great that the trans action represented dollar diplomacy. Two years of experience and proabbly the realization of what the European war may mean in the way of cultivatine commercial relations between the United States and the nations to the south of us have apparently served to shed new light upon what, after all, dollar diplo- macy means.
 There is as yet no authoritative or of ficial statement of the view said to be taken by Secretary Bryan. But it is observed that in the financial district the belief prevails that the report is not un- founded, and the first impression 1t caused is voiced in the statement made by lead ing bankers that in all probability the proposition is an excellent one If Il . is studied superficially it would appear to be similar to the kind of financing Great Britain has done in South America where. by the kingdom has gained commercial I confluence in transactions with the ma. tions of South America.
 Recent events point strongly to tht ! gradual but certain working out of wei perfected plans whereby we may get anc i then maintain pre-eminence in trade anc