Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-06-27
CHAMBERS OF
COMMERCE OF
WORLD MEET
America Represented by More
Than 100 Delegates at
London Session.
EXCHANGE RELIEF UP

LONDON. June 27.-Over one hundred
American delegates were present among
the 500 members of the international
Chamber Of Commerce who assembled at
the Central hall, Westminster, for their
annual congress today.
in order 20 facilitate discussion anu
sarrfve quickly at decisions, it has been
&deridel4 to divide the congress into hve
raf& But before they session there
Ybe a general meeting of the con-
rs at which Stanley Baldwin, presi-
Z dent Of the Board Of Trade, Will wei
come the members on behal- OF Greas
Britain and the cabinet, and two sub
Seouent meetings at which resolutions
submitted by the groups will be con-
sidered By the whole congress.
DIT. Walter Leaf. president of the In
stftute of Bankers, will preside over the
fnaLce committee, and Mr.. Willis III.
Booth, vice president Of the Guaranty
Trust Company, will be the American
representative. They will consider sew
eral important questions relating TO
finance. The first resolution, proposed
By DR.. Leaf, will be as follows:
sWhereas, the present uncertainty OF
exchange is the measure Of the existing
economic difficulties of Europe, this con-
eress is of the opinion that any arti-
fetal measures Of relief are doomed to
failure and that the only way to i'm
prove present conditions is TO Increase
production, to put an end to the in1a-
ton of currency and to remove all re-
strietions on free exchange Of commOdi-
ties.
ASK DOUBLE
TAXATION BAN.
The second resolution deals with ex-
port credits and declares:
'sThat this Congress recognizes the
necessity of the establishment, under
Government auspices, Of credits for the
reconstruction of the devastated and i'm
poverished countries OF Europe.
ITO this end the Congress is prepared
to support the Ter MeuIen scheme, as
modified and put into operation by the
provisional, economic and financial COM
mittee Of the League Of Nations.
Further, this Congress advises the es-
adjustment Of permanent committees Of
business men and bankers in all the
countries affected to furnish all infOrma-
ton and to lend all assistance in the
choice OF credits and participations."
The British national committee will
propose the third resolutions:
'sThat, in the interests of international
Z commerce that legal restrictions or special
taxation should be imposed by any coun-
try on the business Of foreign banks with
in their areas, beyond those to which
native banks are already subject.
THAT to this end it be urged upon
all countries and States at present i'm
posing such restrictions that steps be
taken to abolish them IL possible in all
cases, but at least in favor Of those for
eign countries which impose no such
disabilities
The fourth resolution on the sub
feet OF double taxation is:
whereas. the existing system of
double taxation places a heavy burden
on international trade, this Congress re-
solves that Governments should be
pressed to come to an understanding
with a view to alternating the burden
ISSUE UE
EODUCTIoN.
~The production committee. on which
Mr.. J. E. Cornish, president National
Lead Company, New York, will repre-
sent America. win consider the subject Of
raw materials, economy Of fuel, con
struction and the creation Of industrial
sections within the International Cham
Der OF Commerce.
The distribution committee. where
on Mr.. W. Z. Kugermann, vice presi-
dent OF the American Radiator Company
New York, will represent the United
{. States. viii deal with. the questions OF
international commercial arbitratioDs.
the international protection of industrial
property, the reciprocity Of treatment for
commercial travellers and questions Of
customs regulations and the reform of
the calendar.
The fourth committee will deal with
the questions of the devastated areas of
Europe. Mr.. Louis J. HOrowitz, the
president OF the ThompsOn-Starrett
Company. New York, will be the Ameri-
can representative.
It will deal with the work OF recon-
struetiOn already effected and awaiting
completion and viii compare the respec-
tive methods of State intervention and
private initiative.
Apart from the conferences a great
round Of social engagements awaits the
delegates They will be the guests of
the British government at an official
dinner; OF the British Association Of
Chambers Of Commerce and Of the di-
reetors of the Times newspaper, apart
from innumerable private engagements.