The Washington herald., 1915-05-29
UNIFORM TRADE LAWS
URGED FOR AMERICAS
CONTINUED FROM PAGE ONE.

Inent made by its delegation. The sum
will be borrowed in gold to tide over the
present difficulties i'll the exchange mar
k"t. The normal rate of exchange II
New York is IL per cent. whereas by
r";:scn OF the present situation it has
gone as high as 1S5 per cent.
When the coffe- crop 81 Costa Rica
be gins to come forward next November
the balance of trade will be readjustCd,
and from the proceeds of such crop the
Costa Rican government will be able to
replace the exchange at normal rate
ard will cover the loan in New YORK.
The total operation would take a t most a
year.
\ return visit to the Latin-American
countries by the United States delegates
WAS proposed yesterday by DIR. Pedro
cnsio. head of the I'ruGuayan delegation,
and unanimously WAS Endorsed. He pro
POSED that the trip ho made within the
next six months.
Merchant Marine Laws 4 d.
The Truguayan delegation reiterated lis
recommends ton that laws he enacted
tending to place the merchant marine Of
the American republics a basis %
equality with that Of other nations by
removing LEGAL restrictions which may
exist or by granting direct or indirect
subsidies or both.
w. i'ds'-h 9HII'BiIS id'!lEtl'S Dtl"f'Ii
tn" United States and South American
Countries will he advocated this morning
Icy the Venezuelan deecatiun. Samuel
Sachs. Of the banking firm OF Goidm::; a.
Sachs 4 Co. of New York. is one of the
leaders in the group conference iookin :
out tor tn" interests OF Venezuela.
I'VE also are IN favor of a commercial
court To settle international business dis
putcS. n" said last night. We likewise
81, .SlTnlIS Ia iSbi
der system between Nenezn"la ard the
mit"d States. In addition. want rail-
roads built in Venezuela which is a
great. rich and fertile country. We want
capital. too for the development of cleo
TIN street railways and water power
plants
The Ecuador conference YESTERDAY
reached definite business understand
in; by which American bankers. particr-
LARRY these of the Mississippi Valley St
Louis Chicago. and New Orleans will en-
tend nin"ty-day credits To the agricul-
turists at Ecuador. Ely mears of the
agreement, cocoa crop will be pur-
chased in 'ErmadOr"an banks. tue cocoa
producer getting the us" Of this money
i"r the three months This arrangement
VIII open new opportunities to many
banks Of the United States
IN" general session of the conference
Yesterday afternoon was devoted to
hrief addresses 10y delegates. Among
ih"s" who spoke were Henry ID. Flood
chairman of the foreign relations COM
mittc" Of thu House: DR.. Pedro Cosio, of
IN" 'rEcuayan delegation: John Ras-
s'tt Moore. chairman of the subcunl-
mite" on uniformity of laws: Charles
y. Sheriff., chairman of the foreign
i'iatIohs committee of the Chamber of
commerce. Of the United States: Roger
hahson. of Boston: former Represen-
tatiN" j. Van NeChten Olcott. Of New
Work. president OF the Pan-American
states Association. E. W. Tedcastle, of
R"Ston: William &. lie Gendre. of New
York, member of the firm of Brown
BROTHERS AZ Co.. and W. s Kies. of the
foreign trade department of the National
ty Bank of New York. The addresses
concluded with welcome from Secre-
tary or War Garrison. who afterward
was host Mt a special drill at Fort Myer.
secretary Garrison was accompanied to
the Pan-American Union Building by a