The sun., 1919-06-16
PRESIDENT CALLS
FINANCE CONGRESS
Pan-American Conference Will
Be Held Jan. IL, After
Lapse Of Five Years.
ALL ALTERED BY WAR
Problems Involving This Con-
tinent Will Be Discussed
at Meeting.


on the recommendation OF the secre-
tary OF the Treasury the President has
decided to convene the Second Pan
American Financial Conference ON Nom
day. January IL. 1920. Between the
nrst and second conferences q period Of
nearly i've years will have ELAPSED.
The outbreak Of the European war
oeepiy affected the commerce, industry
.nu finances Of all the republic Of the
american continent The disturbance of
normal conditions was more severely felt
IN the countries Of Central and south
america than In the United States. The
sudden railing or OF imports and ex-
ports due to the establishment of A
olockade not only crippled commerce,
out DO seriously diminished national rev.
enues as TO lead to q critical situation.
In this situation OF real emergency
secretary McAdoo submitted to the
President a plan for the converting of a
rsn-American Financial Conference,
wnich Recommendation was Immediately
approved and at the Presidents sugRes-
ton Congress voted the necessary funds.
This conference met In Washington in
May. 1913. and after discussing the
emergency conditions that had arisen
reached an agreement with reference to
the best methods Of solving the difficult
and delicate problems confronting the
peoples and governments of this con-
tinent. In addition to performing this
important service the conference dis
cussed and agreed upon plans for closer
financial and commercial cooperation.
Duties of High Com mission.
In order to bring this about the In
ternational High Commission was estab-
iished. composed of national sections,
one In each Of the republics Of America.
These national sections are made up OF
nine members. presided over by the re-
spective Ministers of Finance The gen.
eral direction OF the work OF the COM
mission 10 vested In q central executive
council, composed at the present time
or Carter Glass. Secretary of the Treas
ury of the United States John Bassett
Moore. Vice chairman OF the United
states section, and the secretary general
OF the commission. During the last
four years this commission has devoted
itself to carrying into effect the pro-
gramme and resolutions OF the frrt
financial conference.
The achievement OF immediate prac-
teal interest Is the establishment of the
International Trade Mark Registration
Bureau at Havana. One Of the most
serious handicaps to commerce has been
the lack OF adequate protection to trade
marks in number Of countries OF the
American continent and the constant
practice of copying such trade marks
and thus doing injury to business inter
ests. The Commission has. through its
national sections, been able to secure
the ratification of a SUFFICIENT number of
StGtag N rantra1
republics OF the Caribbean to bring
about the establishment OF the Havana
bureau. AS soon as two additional
States OF South America have ratified
the convention the Southern Bureau will
be esta blished at Rio Janeiro. This will
mean that trade marks will then be fully
protected throughout the American con-
tinent.
Arbitration Agreements.
The Commission has also brought
about the establishment OF commercial
agreements between the
Chamber OF Commerce of the United
States and similar bodies in Buenos
Ayres, Montevideo and Guayaquil thus
establishing an easy and inexpensive
method Of settling commercial disputes
without recourse to the cumbersome pro-
cedure Of the courts and the long DELAYS
Incident thereto. In securing the adop-
ton OF the Commercial Travellers con-
vention the Commission has eliminated
another obstacle TO international com.
merce. The vexatious and in many
cases burdensome local licenses and fees
required OF foreign commercial travel
lers has been a source of considerable
irritation. Through this convention the
countries parties to II agree to the elm
nation Of these local fees. Wherever
fees are to be charged they are to be of
national character. thus introducing
at once an element OF defniteness as well
as avoiding excessive burdens
At the meeting Of the International
High Commission held in Buenos Ayres
In 1915 the Hon. Paul NJ. Wsrburg then
vice-governor of the Federal Reserve
Board. submitted draft OF a gold clear
ance fund convention. which has been
made subject OF careful study by the
governments of all the republics of this
continent, and has been received with
such favor that II Is likely soon TO re-
ce!ve the formal approval OF a number
OF them. Under the provisions OF this
treaty the constant shipment OF gold be-
tween the republics OF America in the
settlement Of gold balances will be made
settlement OF such balances established.
American Financial Conference will be
presided over by the respective Ministers
of Finance of the republics OF the Amer
lean continent. This will enable the
Secretary of the Treasury TO have a
special conference with the Ministers of
Finance for the purpose OF an inter-
change OF views with reference 20 the
financial problems now confronting the
different sections OF the continent
The complete programme OF the con-
ference Is now being drafted and will
be directed to bringing out In clear re-
lief the present financial and commercial
needs OF the American republics and the
OF continental policy best
adapted toward meeting these needs. II
10 evident that the people OF Central and
South America must for n considerable
time to come depend on the United
for the capital with which to de-
velop their great resources. 1t will also