The Washington times., 1915-05-28
PAN-AMER|CAS UNITE
FOR BIGGER TRADE
Standardization Of Money Sys-
tenn and Transportation
Facilities to Bind Bonds.
Continued from First Page.)

America, the establishment of a gold
| standard of value, and the creation OF
a market tor bills of exchange drawn
on banks of the United States.
Among the important reports sched.
| uled for consideration by the general
conference late today was that of the
committee on uniformity of laws re-
lattng to trade, commerce, ana inter-
national commercial court.
A subcommittee, headed by Jrof. John
Bassett Moore, former counselor of the
state Department, held a session to-
day and agreed upon report which TO
to be presented to the conference With
the sanction of the full committee.
This committee includes Mr.. Moore,
John Hays Hammond. Governor Ham
lni, of the Federal Reserve Board ,
Charles A. Conant, and Secretary Rcd
field, representing the United States
DR.. Luis Izauierdo. of Chile; DR.. Fran
cisco Peynado, of the Dominican Re-
public: DR.. Vincente Gonzalez, of Ecua-
Uruguay.
The report, which is to be made pub
lie late today. was given Its finishing
touches by Mr.. Moore, recognized au-
thority on International law.
Interests also centers in the prospec-
tive proposals Of the transportation COM
mittee. The committee did not meet for
mally today, owing toother committee
engagements of certain members, but
will take up tonight the big question Of
quick transportation between ports OF
the western hemisphere.
The possibilities of government-owned
and private lines are being considered,
although there is practically no sup
port for the proposal, reputed to have
been advanced by DR.. Samuel Hale Fear
son. Of Argentina, for a steamship line
operated jointly by the variom American
nations.
Will See Drill.
The delegates will see a drill at Fort
Myer after the session late today. The
conference will meet in general session
tomorrow to hear further reports.
Legislative action by several Of the
American republics is deemed necessary
before decisive progress can be made TO
induce private capital to engage in
extending shipping facilities. This was
stated to the transportation committee
today by several of the United states
and Latin American delegates. Sent-
ment also appeared TO favor of granting
subsidies. both direct and Indirect. by
the governments Interested.
Chilean delegates today called atten-
ton to the fact that the west coast OF
the two continents Is in more serious
need of new shipping lines than the
east coast 1t was intimated the inter-
ests of Brazil, Argentina, and countries
OF Central America on the east coast
have been receiving the most attention.
The committee on esta Enlistment of
uniform commercial laws also held
former State Department counselor:
Secretary of Commerce Rcdheld, John
Hays Hammond, and Charles A, CO.
nant outlined needs for joint action.
Preliminary steps were considered for
the establishment of the proposed inter-
national .'code" of trade and commercial
practices. and possibly joint tribunal
for settlement of trade disputes.
The general sentiment amcng the dele
gates apparently is that the proposed
l"Pan-American bank" with capital stock
subscribed by capitalists or banks OF
tho various countries. cannot be made q
| reality without liberalized laws. That
the United States Congress will be ask
ed to amend the Federal reserve act
next winter to permit greater concerted
freedom of action by national banks In
South and Central America was deem
ed probable.
The suggestion OF Edmund D. Fish
er. deputy comptroller of New York
city. that a finance commission OF the
sister republics be established to aid
in the naturalization of a monetary
and banking system for all the
Anne ricas is one of the chief topics OF
discussion