The sun., 1919-04-25
SEND SHIPS SOUTH,
Is M'ADOO'S ADVICE
Ex-Secretary Urges Fostering
Trade With the Republics
Below Equator.
ROOT TELLS OF CHANCES
Chilean Financial Commission
Hears Words of Felicity at
Dinner in Sherry's
ROOT TELLS OF CHANCES

Steamships built by the United States
under the stress Of the war should be
put Into service between this country
and South America to develop trade
and further cement the economic solid
arity between the two continents Of the
western hemisphere. so William q.
McAdoo. former Secretary of the Treas
ury and head of the Railroad Admins
tration, declared last night at a dinner
given by the Chile and Northern News
Association to the Chilean Financial
Commission at Sherry's
III seems to me TO be time to adopt
an Intelligent policy" said Mr.. McAdoo
we have the ships; why throw them
away? Why not give South America
the benefit OF our increased shipping
facilities? No part OF our continent
would have been developed as it Is to-
day without transportation and the
assurance of service.
The same thing applies TO our trade
with South America. Trade will not
be built up unless transportation is as
sured. We must maintain steamship
lines 10 South America. even il they
are operated temporarily at a loss"
Mr.. McAdoo said that credit must he
extended here to South American coun-
tries and a market must be found in the
United States for their securities which
in the past. have largely been disposed
OF in Europe.
I'VE must cultivate a friendly attitude
toward these foreign Investments" he
declared. "as I have no doubt the time
Is coming when we will have to inves,
in the carefully selected bonds Of for.
eign Governments.
Elihu Root who welcomed the visitors
said he was grateful for the hospitality
he received In Chile at the time of his
visit there soon after the Valparaiso
earthquake.
Only the determination of strong
and virile race could have arisen above
that calamity said Mr.. Root. "The
friendship OF that people / desire for my
country. and as the only price II Is pos.
sible TO pay TO Il proud and sensitive
people in behalf Of my country Offer
our friendship. I have so much conf.
dence In human nature that feel sure
the better men know one another the
better they like one another the better
they are acquainted the more they trus,
one another. We must not forget the
untold wealth that can be garnered by
the mutual help OF the two countries OF
the progress in arts and the spiritual
progress that follows in the train @,
commerce. The prospect Of the advance
OF both our peoples in mutual helpful.
ness should make each one of us feel tina,
this visit of yours should accomplish
its purpose.
May our friendship grow year after
year into an ever Frightening future
and teach the world that two great re.
publics without designs on each other
can. be friends as David and Jonathan
were friends. My old hosts. to whom
am indebted for thousand acts OF kind.
ness, | give you welcome -,
tl!odoro Yanez. a Chilean Senator and
mead OF the commission. responded In
Spanish. his speech afterward beins
translated into English by Carlos Castro
Ruiz, the Chilean Consul General here.
Il do not hesitate to declare" said he
that the Government and the people OF
Chile are deeply interested in associat,
ing themselves with every undertaking.
that might make Ii possible to establish
the rights of the world upon new foun.
dations, in order TO assure the main.
tenance OF peace and universal tran.
quillity. But we desire at the sam.
time that there neither disappear. mol
even be weakened the American CONT
mental spirit. to which we bind uni
formity OF idea and solidarity Of purpos,
in the political action of the nations OF
this continent, and the consequence Of
which ought to be to harmonic materia
interests and establish commercial in.
terchange upon the basis Of reciproca
advantage.
The Republic OF Chile has been faith
full in all the phases OF her existence I,
this spirit Of American unity which sh,
received as sacred tradition from tn,
hands of her founders"
Augusta Nillanucva. president OF tn,
Bank OF Chile. also spoke Dwight G.
Morrow OF ]. p. Morgan Il 90. was tn,
toastmaster and silent toasts were drunk
TO the Presidents Of the two republics
Included among the guests were: A
". Anderson of ]. T. Morgan d Co.
James 5. Alexander Of the Nationa
Bank OF Commerce. Robert Bacon Of
the New York Trust Company. Lewis |.
CLARKE Of the american Exchange Ma.
tional Bank. T. Coleman du Pont, Eu.
gene q. Grace, president of the Bethle.
hem Steel Corporation; Beltran Matthew
Chilean Ambassador in Washington
Augustin Edwards Chilean Minister Il
Great Britain; \. Dean Jay of the Guar.
anty Trust Company, r. l.. Norris OF
the Bankers Trust Company. Thatcher
NJ Brown OF Brown Bros. & Co, Pierre
:. du Pont. George l.. Duval, William
Ewing. Daniel Guggenheim, Isaac Gug.
genheim, hurry Guggenheim. Charles T.
Mitchell, John L. Merrill. Charles D.
Norton of tho First National Bank
Charles NJ. Pepper. II. A. Prosser. Gen
Aristides Pinto and Capt. o. i. Jackson
commanding officer of the T. S. $. Penn.
sylvania.