Evening star., 1942-06-26
Hemisphere Farley
To Take Up Anti-Axis
Economic Problems
Undersecretory WelIes
To Sound Keynote at
Session Opening Tuesday
By HAROLD B. ROGERS.

By HAROLD B. ROGERS.
An international conference which
may have far-reaching effects on
the wartime economic and finan-
cisl problems of all republics in the
Western Hemisphere will convene
Tuesday at the Pan-American
Union, where Undersecretary of
State Welles is expected to strike
the keynote"
Known As The Inter- American
Conference on Systems of Economic
and Financial Control" the gath
erine is drawing one Of the most
distinguished groups of finance min
listers and other experts ever con-
vening here to help solve such prob
lens.
Ten finance ministers and many
heads of central banks plan to
attend the sessions to be held at
the Pam American Union. The in
augural meeting will take place at
1880 am. and will be addressed
also by DR.. L. S. Rowe. director gen.
eral of the an-American Union.
Two Prime Resolutions.
The conference has been con-
vened to give practical application"
to two OF the resolutions of the Rio
de Janeiro meeting of foreign minis
tiers in Brazil last January. Signifi-
cantiy, one of these resolution v. is
entitled "Severence of Commercial
and Financial Relations with the
Axis. The other. resolution vi, calls
for adoption by the American repub-
lies of uniform measures to deal
with financial transactions OF ma
tionals or aggressor nations.
Both Argentina and Chile. which
are the only countries In the hemi-
sphere which have not yet broken
diplomatic relations with the Axis
are understood 70 be planning to
participate in the conference. They
are represented already on other
American groups, such as the
Governing Board of the Pan-Amer-
ican Union. the new Inter American
Defense Board, the American
Financial and Economic Advisory
Committee. which was authorized to
call the conference next week. and
others. Undersecretary Welles is
chairman of the Inter American
Financial and Economic Advisory
Committee, and will speak to the
opening session in that capacity.
Two General Topics.
Plans for the forthcoming con-
ference announced here today indi-
cate its work will fall into two gen.
eral topics The first will deal with
measures directed toward the proper
handling of international transac-
tions. The second will be aimed at
control of domestic financial oper-
atoms which might benefit the Axis.
TN the field of international
transactions" it was said, the con-
ference will consider measures
pointed toward uniform and Coop
eIAGlPe aCtlOn Dy the hLIlcIlCdu re-
publics in cutting off financial and
commercial operations with Axis
nations and their satellites. In an
effort to prevent any leakage or
loopholes in the Western Hemi-
spheres economic blockade of ag-
gressor states, the conference will
also consider adoption Of measures
10 regulate transactions with other
nom American nations as we'll as
within the Western Hemisphere,
when they are of benefit to the Axis.
Steps also will be taken" 1t was
announced, Ito eliminate the activi-
ties of persons within the hemi-
sphere whose operations are danger
Gus to the security of the continent
or OF assistance to aggressor ma
tions Restrictive measures in this
direction are expected to include
blocking of accounts. forced sale of
assets and in some cases, actual
sAiz,,re ~