Evening star., 1915-05-21
HOPE TO ESTABLISH
DOLLAR EXCHANGE
Pan-American Delegates Real
ize Need of Ending Arti-
ficiaI Situation.

ficiaI Situation.
| Canvass of : sentiment among dele.
| gates to the pan American financial
| conference. which begins here Monday
indicates that one result expected is
! the perfection of plans for the estab-
lishment of direct or dollar exchange
| between the United States and Centra
and South American countries.
| The present system says a Treas
! ury Department statement today
| (which requires the settling of al
balances through London. has been q
severe handicap, and particularly sc
since the outbreak of the European
war. There is widespread desire to
put an end to this anomalous and arti.
| fetal situation, and it is, therefore
said not to he doubtful that this will
be one of the first of the importan,
| questions to which the attention of the
conference will be directed
| The statement points out that the
| war has threatened seriously to handi-
cap the development of railroad ano
| street railway transportation in these
countries. and that one important pur-
pose of the conference is to devise
needs along these lines may he met by
North American capital.
| THE political sta bility of the coun-
tries and the full protection that is
statement, should make this an at
tractive one to American investors
| Furthermore. the financing of such en-
terprlses by American capital will
mean a greatly extended market for
American manufacturers. The new sit
| ualon created by the European war
will make ii possible not only to
finance South American enterprise. but
also to extend the field for products
such as locomotives, cars, rails, stree,
| railway, gas and electric light equip
| ment, in all of which lines the Unit ed
states is we'll able to compete with
| NAL conditions"
Escort for Delegations.
The statement announced that a mill
tary aid has been assigned to NEE,
| each of the incoming delegations and
has been especially detailed to remain
| with 1t during it's stay in Washington
Automobiles will be placed at the dis.
posal of each delegate and special mo.
tor trips about the capital will be
taken
| A heart-to- heart talk between Secre.
tary McAdoo and the delegates will be
held in the Secretary's office tomorrow
! morning at 10 o'clock. This persona
| talk will be the forerunner of the for.
NAL opening of the conference: it viii
be personal interview with the Sec.
retary. and will not be open to the pub.
lie. 1t has been announced. Only the
delegates sent by the eighteen SoutF
American republics will be present
the minister and ambassadors from
those countries not being included In
tomorrow meeting.
nounced the subject of Secretary Nc.
Adoos talk to the delegates. 1t is be
lieved by men interested in the con.
ference in general that this meeting
movement by the government tt
change the worlds trade map, so thai
there VIII be greater interchange o1
trade and credit between the Americas
Secretary McAdoo has made plans fol-
the comfort and entertainment of the
visitors and to make them feel the
hospitality Of the United States. Fol
the convenience of the delegates ac
commodations have been procured fol
all of them. including those of thei,
party. at the Shoreham Hotel
DIR. F. s Rowe, secretary general o,
the conference. will also have an Office
at the hotel throughout the time 0,
the sessions.
Lines of steamships under the Star,
and Stripes, sailing regularly betweer
the United States and South and Cen
trail America. are suggested as one o
the benefits which may result from
the Pan-American financial conference
France, Germany, England an,
Italy says the statement. for man,
years have fostered commercial rela
tions with our sister republics of Cen
trail and South America by subsidized
| steamship lines and chains of activ
and substantial banking interests. Onl,
the United States has held back
Our trade with South and Centra
America has been steadily increasing
but until now 1t has been without an,
support of established steamship lines
with one exception. which till latel,
few the British fiag-and with prac
tically no banking facilities. prior I,
the present efforts which are bein,
made under the federal reserve sys
TEN.
There is not single regular Amer
lean steamship service to any port /,
South America. except to those of Ven
ezuela and Colombia. Brazil. Chile
Argentina. Peru and Ecuador do no
know the American flag on regula
vessels of commerce"
AT the Shoreham Hotel, headquarter.
of the conference, the delegates o.
cuba, Uruguay and Paraguay are ouar
from Cuba. DR.. Pablo Desvern,ns
GaIdos. Senor Porfirio Franco al
zarez de la Campo and Senior Octayt,
Zayas; from Uruguay. Senor Pedr,
|
Maria de Pena; from Paraguay. Seno
Hector Velasquez and William Wallac
White.
Samuel Hale Pearson of Buenos Aire
is the only member OF the Arpentin
delegation in Washington. He is reg
istercd at the New willard Hotel
Extensive Business Connections.
Mr. Pearson, one Of the most promi
nent bankers and business men O.
Argentina. is grandson of Samue
b. Hale of Boston. Mass, who founded
the house OF Samuel b. Hale & Co. O.
Buenos Aires in 1888. of which Mr.
Pearson's father. also Of Boston, be
| came a member in 1860. Mr. Pearso,
himself is now president OF this house
and also is a director of the Bank O
Argentina The capital of banks an,
business enterprises which he is sery
ing as director or with which he Il
, connected aggregate $500. 100000
| Dr. Dssvernine was formerly min
lister of Cuba in Washington He ais,
represented Cuba AS special envoy a
the Inauguration of President Wilson
. AT one time secretary of finance n
now is secretary of state
Senior Franco is chief director of tn
National Bank Of Cuba Senior Zaya
is a prominent Cuban banker and wa
4