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The Commoner
VOL. 15, NO. 6
8
The Pan-American Financial Conference
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'An event of unusual and far-reaching import
ance was tho meeting of the Pan-American Fi
nancial Conference, which began its sessions in
Washington, May 24, and ended May 20. The
conference, which was called by Secretary Wil
liam G., McAdoo, was held in the interests of
trado and closer relations between tho United
States and Latin-America. The sessions of the
conference were attended by delegates from
eighteen Latin-American countries, and by the
member's of the cabinet, the Federal Reserve
Board, the Federal Trade Commission, treasury
officials tfiul over 100 members of the leading
banks, corporations and commercial houses of
the United States. Below will be found a num
ber of the addresses delivered at the conference.
PRESIDENT WILSON'S WELCOME TO DELE
GATES In his address to the delegates, tho president
said:
There can bo no sort of union of interest if
there is a purpose of exploitation on tho part of
any person connected with a great conference of
this sort. We are not, therefore, trying to make
uso of each other, but we are trying to be of use
to ono another.
It is surprising to me; it is even a source of
mortification, that a conference like this should
havo been so long delayed, that it should never
have occurred before, that it should havo re
quired a crisis of the world to show the Amer
icans how truly they were neighbors to one an
other. If there is any one happy circumstance,
gentlemen, arising out of the present distressing
circumstances of the world, it is that it has re
vealed us to one another; it has shown us what
it means to bo neighbors. I can not help har
boring the hope, the very high hope, that by this
commerce of minds .with one another, as well as
commerce in goods, wo may show the world, in
part, tho path to peace.
It would be a great thing if the Americas could
add to the distinction which they already wear,
this of showing the way to peace, to permanent
peace. Tho way to peace for us, at any rate, is
manifest. It is the kind of rivalry which does
not ihvolvo aggression. It is the knowledge that
men 'can be of the greatest service to one an
other, and nations of tho greatest service to
another, when tho jealousy between them is
merely a jealousy of excellence, and when tho
basis of their intercourse is friendship. There
is only ono way in which we wish to tako ad
vantage of you, and that is by making better
goods, by doing the things that wo seek to do
for each other better, if we can, than you do
them, and so spurring you on, if we might, by
so handsome a jealousy as that to excel us.
I, am so keenly aware that the basis of personal
friendship is this competition in excellence that
I am perfectly certain that this is the only- bails
for tho friendship of nations, this handsome ri
valry, this rivalry in which there is no dislike,'
this rivalry in which there is nothing but the
hope of common elevation in great enterprises,
which wo can undertake in common.
There is one thing that stands in our way
among others for you are more conversant with
the circumstances than I am; tho thing I have
chiefly in mind is the physical lack of means of
communication, tho lack of vehicles, the lack of
ships, tho lack of established routes of trade
tho lack of those things which are absolutely
necessary if we are to have true commercial and
intimate commercial relations with one another;
and I am perfectly clear in my judgment that if
private capital can not soon enter upon tho ad
venture of establishing these physical means of
communication, tho government must undertake
to jlo so.
We can" not indefinitely stand apart and need
each other for the lack of what easily can be
supplied, and if ono instrumentality can not sup
ply it, then another must be found which will
supply it. We can not know each other unless
wo see each other; we can not deal with each
other unless we communicate with each other.
SoJ$bon as wo communicate and are upon a fa
milial fodting of intercourse with ono another,
wo shall understand ono -another,- and tho
bonds between the Americas will be such
bonds that no influence that the world may pro
duco in tho future will over break them.
If I am selfish for America, I, at least, hopo
that my selfishness is enlightened. The selfish
ness that hurts the other party is not enlightened
selfishness. If I were going upon a mere ground
of selfishness, I would seek to benefit tho other
party and so tie him to myself; so that even if
you were to suspect mo of selfishness, I hope
you will also suspect me of intelligence, and of
knowing the only safe way for tho establishment
of tho things which we covet, as well as tho es
tablishment of the things which we desire and
which we would feel honored if we could earn
and win.
I have said these things because they perhaps
will enablo you to understand how far from
formal my welcome to this tody is. It is' a wel
come from tho heart, it Is a welcome from the
head, It is a welcome inspired by what I hope
are the highest ambitions for those who live in
these two great continents, who seek to set an
example to the world in freedom of institutions,
freedom of trade and intelligence of 'mutual
service.
SECRET AR3t BRYAN'S WELCOME
Address of the secretary of state, delivered
at the opening session of the Pan-American Fi
nancial congress, Washington, D. C, May 24,
1915:
Mr. President, Mr. Secretary, Representatives of-Pan-America,
Ladles and Gentlemen:
If you will consult the program you will find
that I am to deliver an address of welcome, but
it is superfluous for me to welcome you after the
eloquent and appropriate words to which you .
have just listened. On ordinary occasions the
secretary of state, as the president's representa
tive in dealing with foreign nations, welcomes
visitors, but this Is not an ordinary occasion It
is an epoch-making event and it was fitting,
therefore, that the welcome should be spoken
by the president himself, and not by a repre
sentative. If the welcome extended to you was
to be as whole-souled as that expressed in the
Spanish phrase which, translated into English,
means "my house is your house," it must come
from the occupant of the White House. My only
duty, as I seo it, after the felicitous words
that have been addressed to you by tho pres
ident, is to give cordial approval to the noble
idea, conceived by the honorable secretary of
the treasury, which has resulted in this notable
gathering. I do give emphatic endorsement to
this idea and expect this conference to have last
ing and far reaching results. I shall content
myself with presenting the oiu thought that
has been uppermost in my mind since this Idea
was presented to our nation and to the nations
assembled here. It is the idea that we are '
neighbors.
God in His providence has made these repub
lics the joint tenants of that wonderful heritage
which extends from the St. Lawrence and Puget
Sound on the north, to Cape Horn on the south.
We have taken upon ourselves the responsibility
of developing this territory for ourselves and for
the world. It is dedicated to a system of gov
ernment to the republican form of government.
May I not describe these republics as resembling
a great Banyan tree? The United States is the
parent stem; the branches, extending to the
south, have taken root in the soil and are now
permanent supports, yes important parts of that
great tree. Linked together by a unity of polit
ical purpose and by a common political ideal,
these republics can not but be interested in each
other. "We are geographically so situated that
we must live side by side and certain expecta
tions are aroused by the very fact that we are
neighbors.
The first is that we shall KNOW each other
Neighbors should become acquainted and this
great meeting must result in an extension of ac
quaintance which is not only desirable, but neces
sary. I am sure that the secretary of the treas
ury had in mind this more intimate association
as we know each other better we shall be more
and more assured of the good will of each to
ward tho 'other.
Tho second expectation aroused by the faof
that we are neighbors is that we shall h
FRIENDS. This feeling of friendsWp is grow-
ing and will continue to grow. Time tends to
increase it and words spoken by t1- j representa
tives of the several nations have promoted its
growth. The memorable address delivered by
our chief executive at Mobile a year ago, when
he restated what has been so often stated before
that thia nation has no desire to take one foot of
land from any other nation by conquest I am
sure that this utterance has contributed some
thing toward the cementing of our friendship.
And may I refer to one other thing which has
had an influence? It is the fact that this nation
is now united to the Spanish-speaking republics
by treaties that provide for investigation of all
disputes, leaving no cause for which we can go
to war until after there has been a year's time
for deliberation and for passion to subside. This
country has shown its good will by offering to
all of the American republics, without respect to
size, such a treaty, and these republics have re
sponded in tho spirit in which the offer was
made. We may feel certain, therefore, that in
the years to come there will be no hasty rushing
into armed conflict; indeed we have such faith
in the power of reason, when controlled by
friendship, that we are confident that a year's
inquiry will enable us to find peaceful means of
settling any disputes that may arise.
The third expectation suggested by the fact
that we live side by side, is that of mutual
HELPFULNESS. Neighbors must not only know
each other and be friends, but neighbors must
help each other as opportunity offers. With ac
quaintance increasing and friendship established,
I take it that the principal purpose of this meet
ing s to find ways in which we may be helpful
to each other.
The president has suggested one, and a very
important one, namely, co-operation in the pro
viding of means of communication. He has used
his great influence to secure authority for this
nation to do its part, and I doubt not that his
efforts will find a response in the nations here
assembled and that in the course of time these
nations by co-operation, will establish lines of
communication which will not only be of advant
age in ordinary times, but will protect our com
merce "from interruption if, at any future time,
the nations in other parts of the world find them
selves unable to settle their disputes by the
peaceful methods which we expect to employ.
There are other matters in which co-operation
is possible, as for instance in finance and com
munication by wire and by mail, of which the
secretary of the treasury will speak more at
length.
But I would not be pardoned if, with so many of
our distinguished guests prepared to speak, and so
inspiring an audience anxious to listen, I were to
trespass further upon your time. Let me, there
fore, in- conclusion, emphasize the thought that
brought me before you, namely, that the state
department will, in every possible way, give sup
port to the splendid efforts of the secretary of
the treasury to crystallize acquaintance and
friendship into practical helpfulness and, to the
fullest extent, promote co-operation between the
republics whose representatives are assembled
in conference.
OPENING ADDRESS OF SECRETARY M'ADOO
Address of the secretary of the treasury, de
livered at the opening session of tho Pan-American
Financial Conference at the Pan-American
Union, Monday, May 24, 1915, at 2:30 P. M.:
Fellow Americans:
Permit me to express the intense satisfaction
and gratification of the government and the peo
ple of the United States at the cordial and hearty
respond of the governments of South and cen
tral America to the call of the United States tor
this financial conference. The people of tne
United States are profoundly honored by tne
presence here today of so many distinguisneu
men from South and Central America--men
whose character and achievements have put uiew
in the front rank of citizenship in their respect
ive countries. Nothing could more eloquent
testify to the importance of this notable saier"
ing than the distinction with which it hasfu;"
impressed by the character and quality or oui
foreign guests; and it may, with' equal trutJi, u
said that the character of tho ablo and disun
guished men of tho United States who are pa
ticipating in these deliberations, is evidence oi
the great importance with which this conference
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