The Washington times., 1915-05-27
PAN-AMERICAN MONEY
STANDARD IS URGED
Delegates Also Ask Establish
ment of Branch Banks in
Sister Republics.
Continued from First Page,)


That the United States should SEND
commissions, comprising business 9neh
to visit the Central and South Amerl-
can countries.
be established now lines OF steamers,
plying between the Pacific and Atlantic
ports OF North and South America,
with regular sailing dates and speedy
service.
That these steamers should be eX-
empt from all port dues, tonnage uues'
lighthouse charges and terriage charges
through the canal.
That the governments of the Americas
should subsidize such steamship INES.
The report also recommended the es-
tablishment of American banks IN the
various countries and the adoption ot
the American monetary system with
American money as the uniformp cur
rency for the Americas.
An excursion to Mount Vernon will
interest the visiting finenciers this
the Mayflower. the use of which was
rendered by the President. The May
flower will start from the Navy Yard
at $50 p: M, following luncheon given
puilding by Secretary McAdoo at 1
o'clock.
II, an analysis Of European and
American conditions of the present the
, chairman Of the Federal Trade Com
mission compared the war councils of
Europe with the peace councils OF
American statesmen and financiers. Mr.
Davies continued:
No Dire Results.
"Trom the deliberations OF the con-
ference here there will come no colos-
sal destruction Of property. no horrible
sacrifice Of men. no anguishing hearts
of women. no orphaning of children, no
Increased taxation for posterity. Your
deliberations are fertile with the prom
ise that greater agencies of peace and
good will sail the seas; that more fac
be- te'eS at WV work "'"' that at' the '' stand md
ard Of living may be raised; that more
children may be educated; that more
women may attend to their household
peace, and that the ideals of republican
altruism may demonstrate to a world
gone mad that the gospel Of the Carpen-
ter Of Galilee is not lie, but living
hope and beacon for the republics of
Americas in their contribution to the
world and its civilization
Mr.. Davies then went into the effects
upon trade of the European war, refer
ring, by way of illustration, to the up
heaval as felt by the cotton planters of
the United States, the coffee growers Of
Brazil. the wheat growers of Argentina,
and the nitrate producers of Chile.
Explains Difference.
Leading up to an explanation Of the
difference between Dollar Diplomacy
and Doller Exchange. Mr.. Davies said
THE fact that the republics Of this
hemisphere founded their policies with
reference to industrial monopoly and in
dustrial freedom of opportunity upon
the same political philosophy augurs
we'll for the development of Pan
shall constitute fairness in trade. Such
code, If sustained by the nations and
peoples of the Western Hemisphere,
might be interpreted and executed by a
common Pan-Anlerican tribuntal and the
common Judgment of the republics of
the Western Hemisphere thus expressed
would sustain and enforce its decrees
by the weight Of an enlightened and
common public opinion. Thus, through
the instrumentalities Of trade ard COM
merce would another step toward the
elimination of war and the perpetuation
of peace be effected. The seed for this
Union. and the identity of aspiration
and policy of the republics Of this hemi-
sphere; H. ~. su.no,., so,,,o.,,,..
arising from international relations is
there promise of permanent relations
through the establishment of dollar eX-
change. Dollar exchange differs from
dollar diplomacy.
No Suggestion.
~Thc idea of dollar exchange contains
no suggestion OF diplomatic differences
or conflict of interests, which might en-
gender distrust and strained relations
between the governments involved. Dol
lar exchange gives no special govern
mental support 20 special interest. 1t
rather has to do with the great multi
tude of citizens engaged In dealing with
hemisphere, and Is designed to serve
and aid them to their mutual advan'
tage. Dollar exchange does not seek ar
advantage over a contested situation
1t serves as medium for the more IA
cile exchange of commodities to the mu
tual advantage of both parties thereto
1t tncurs no risk of the imposition by
stronger power upon q weaker by rea
son OF mistake or a misuse of power
Commercial advantage for the benefi
of all. not service to the advantage o
the few, is the end and purpose of gov
ernment participation in dollar ex
change.
In conclusion. will you permit me I,
say that the nations here represented
are the exponepts of a great idea on
OF the greatest ideas in the world; a.
thinker. teacher, or benefactor Of civil
zation; an idea which has moved me-
and nations TO great and noble deed
and accomplishments-the idea OF al
truism. Republican self-government
the essence of altruistic conception
Democracy, the government for tn
common man, is the translation Of tn
Sermon on the Mount into terms of ma
tional entity"
Little Consideration Given.
Little consideration has been given b
the delegates to the suggestion tina
out of the conference may come a <
gantic Pan-American shipping combin,
With the United States and eightee
Central and South American republic
acting as joint owners of a steamshi
line.
The published story. circulated L
one of the press agents of the confer
ence, that such a project was in serio,
contemplation did not receive the Oft
cial sanction of leaders of the confe
ence last night. and was not circulate
further by the press bureau.
The conservative members of the CO..
ference regard such a suggestion as e
tirely impractcable and OF the dream
book type.
That the United States alone, throue
its ship purchase bill, may undertake
operate :. steamship line between II
Americas is within the range OF probi
bility. President Wilson on Monda
spoke OF the necessity of a Government
owned line II private capital fails
respond soon to the needs of the stu
ton.