Evening star., 1927-05-02

of painful lessons-and that an at.
mosphere of justice and mutual re-
spect is increasingly and powerfully
evident in this Continent.
Intellectual and Scientific.
"If we pass from the purely
financial and economic, to consider
the intellectual and scientific CO.
operation of the United States in
Latin America, in those matters which
occupy the attention Of this Com
mercial Conference, I believe L can
call to mind certain very fine eX-
amples. One of those is the contribu-
ton, in an entirely technical field and
without the remotest shadow to mar
it's disinterested character, rendered
by the financial commissions, under
Prof. +. w. kemmerer, in various
South American countries. Colombia
in 1928, Chile in 1926, Ecuador at the
beginning of 1927 and Bolivia at the
present time, have successfully ap-
pealed to the technical ability of this
eminent Princeton professor and his
colleagues, who have successfully car
ried out constructive work in financial
reorganization the excellent results of
which are everywhere unanimously
acclaimed. Laws regulating banking
operations based upon the valuable
experience of the United States, regu-
lations of a budgetary character and
for the safeguarding of public funds,
for systems of taxation, and other
points equally necessary to a sane ad-
ministration of financial and economic
operations, were expedited in each of
these nations with the aid and advice
of Kemmerer and his collaboratOrs.
In some cases these laws and reforms
establishment of solid bases for COM
mercial development and the invigo-
ration of the entire machinery of
credit, and their influence may well be
considered by the conference in con-
nection with topics related to such
achievements, which will long live in
the financial history Of Latin America
as exponents Of ability, authentic and
scientific judgment, and prudent and
efficient organization.
Valuable Cooperation.
"It is impossible to close these gen.
era1 remarks on the prospects which
the future holds in store for the COM
mercial development Of America with
out mentioning and paying honor to
the valuable cooperation which av!-
alton is beginning to offer. Through
the devotion to science, the heroism
and grievous sacrifices of its loyal
servants, the farthest confines of the
Continent have already witnessed the
triumphs Of aviation, which today is
not only a splendid promise, but a
glorious reality destined to accom-
plish almost inconceivable changes.
The conference on this subject which
| cOnvenes today in Washington cannot
fail to be a great incentive for the
extension Of this means of communi-
cation, which marks q new epoch in
the march of humanity. And as there
is no material progress which does
| not rest upon a spiritual basis, we
are justified in believing that all these
, labors are, or should be, the express
| sion Of one phase of that comprehen-
| SiVe objective which the President of
| the United States pointed out on a
solemn occasion, namely, the objective
of continental peace:
| " Unless the desire for peace be
| cherished in the heart of humanity,
/ unless this fundamental and only ma
| tural source of brotherly love be culti-
| waited to it's highest degree, all arti-
| fetal efforts will be in vain. Peace
! will come when there is a realization
| that only under a reign of law, based
| o righteousness and supported by the
/ religious conviction of the brotherhood
| of man, can there be any hope of a
! complete and satisfying life. Parch-
ment will fail, the sword will fail, it is
only the spiritual nature of man that
can be triumphant