The New York herald., 1920-01-23
Committee of Financial Con-
gress Urges Better Transpor-
tatlOn from United States.
STUDY FINANCIAL REFORMS
Paul M. Warburg Tells Delegates
Z the Advantages of Bud
get System.
Nspecfa, Despatch to the Herald.

nancial conference today. Paul NJ. War
ours, formerly chairman of the Federal
reserve Board. dealt with them exhaust
Fely In the principal address, devoted to
monetary standards as the measure of
: the credit of nations Other speeches
were made by Huston Thompson, of the
federal Trade Commission, on the inter-
national regulation of unfair competition,
and by Senator Medll Mccormick on the
important effect the adoption by the
United States of the budget system will
nav upon its fiscal methods.
luncheon given to the delegations by
Lewis +. Person, chairman of the Board
or Directors of the Irving National Bank
mittee for Paraguay, to meet the officers
of the United States Chamber of Com
merce, made a highly enjoyed break in
the middle of strenuous day.
In his remarks congratulating the Para
guayan delegation upon the progress its
government is making in developing its
trade relations. Mr.. Pierson suggested that
the United States might we'll overhaul its
own administrative machinery having to
ernmental functions. he held, now were
too much divided between various de-
partments, commissions and bureaus, and
should be brought under one head with
whom the exporter and importer would
have to deal. The establishment of the
Interdepartmental Committee on Foreign
Trade, Mr.. Pierson said, was a step in
the right direction, but even that COM
mittee was hampered by statutory limita-
tions. He thought that If Congress con-
templated the reorganization Of the de-
partmental system o4 administrative ma
chinery it should consider this phase of
the subject.
Bright Omen for Future.
In response, DR.. Eusebio Ayala, Minister
Of Finance of Paraguay, said he regretted
his country had not done more in the
way of trade cooperation, but he believed
the success of this second financial con-
ference was bright omen for the future.
This sentiment Harry A. Wheeler, for
merly president of the United States
Chamber of Commerce, and Governor
Harding, of the Federal Reserve Board,
approved, Governor Harding remarking
that the countries of the New World
should cooperate not only for their own
benefit but also to extend a helping hano
to- the countries of the Old World.
Paul NJ Warburg declared that "rigidly
balanced budgets are required because
they restore the public credit, arrest fur
ther initiation and lead to curtailment OF
expenditures and increased taxation,
which. if properly devised, makes for de-
Ton inn nrOIitIc-
ton and lower prices. And these, in turn.
are essential, in that they stimulate en-
portatio;,s and discourage unessential I'M
portations and thereby bring about the
possibility of more nearly balancing the
two"
The report of the Transportation Com
nittee of the conference was read, ano
action on it will be taken tomorrow The
committee recommended substantial re-
duction in ocean freight rates, the estab-
jishment of regular freight lines between
the United States and South American
countries and the employment OF boats OF
The largest possible tonnage to be accom-
modated by South American harbor faclli-
ties Cargo boats, especially designed Tor
the use of special trades such as coal and
oI, TRANSPORTS were asked for. The estab-
lIshment of through rates between United
states ports and places not regular ports
Of call for the larger international freight
lines were urged through arrangement en-
tered into with the coastwise shipping OF
the countries concerned.
Urges More saIlings.
The committee recommended the estab-
lishment of more sailings and, favored
steamships in the South American trade,
and declared such service should not fall
behind service offered South America BY
other countries. The committee urged
weekly service between New York and
Buenos Ayres, by way OF Montevideo. de-
elaring that steamships should he con-
structed for this service at once IL they
we're not now available. 1t also recon-
rnended bi-weekly sailings of passenger
service from New York to Buenos Ayres
by way of Rio Janeiro and Montevideo
decla ring that boats of not less than egh-
teen knots speed should be used.
The establishment OF more lines to con-
meet the east and west coasts OF South
America were called for. and it was urged
that government aid to this end should be
yiven in the countries interested where
needed More remuneration for fast mail
service was declared to be necessary, and
II was asked that the South American
countries reduce port dues and handling
charges. The committee concluded Its
ocean transport recommendations by urg-
ing that the International High Commits
zion appoint a special commission TO study
the questions involved and submit recon-
,nendations TO the various governments.
In connection with railroad transporta-
tion the committee called on the govern
ments involved to prepare comprehensive
man TO link the small subsidiary roads
10 the main trunk systems Of the continent.
10 standardize freight and passenger rates.
nromote the construction of branch roads
ana develop oil and water facilities In
,heir own countries to run their own
tra,ns. new transcontnental system
crossing South America from east to west
was recommended, and a comprehensive
system of highways was declared In
dispensable.
All delegates TO the Congress from coun-
.riea not at present in the Postal Union
were urged to enter postal conventions,
and delegates were asked to advocate
narcels post convention with an indemnity
FOR non-deivery.
For Uniform BilI Of Lndinw.
The use of a uniform bill of lading was
declared most important, and the Inter
national High Commission was asked by
tha committee to draft n bill providing
for a. with weights expressed In pounds
ana in the metric system and submit the
,sme TO business firms for the countries
involved for suggestion. and make recon-
,aordation 10 the finance ministers OF