Henry L. Sweinhart, in Charge of Publicity.
Prof. Julian Moreno-Lacalle, Recording Secretary.
Dr. H. E. Bard, Assistant.
Dr. Jose Romero, Assistant.
Gladys Russell, Official Reporter.



STAFF OF THE PAN AMERICAN UNION

Members of the Staff assisting for the Conference who were ready to give
information and otherwise serve those in attendance.
John Barrett, Director General.
Francisco J. Yanes, Assistant Director.
W. A. Reid, Acting Chief Clerk and Trade Adviser.



William C. Wells, Chief Statistician.
Matilda Phillips, Assistant Statistician.

C. E. Albes, Acting Editor, English Bulletin.
Angel C. Rivas, Acting Editor, Spanish Bulletin.
Virginia H. Wood, Disbursing Officer.

D. Arbelia Reed, Assistant to Disbursing Officer.
R. G. Koenig, Assistant to Disbursing Officer.
Charles E. Babcock, Acting Librarian.

Maria D. Calvo, Assistant in Library.

William Mahoney, Assistant in Library.

W. P. Montgomery, Translator and Compiler.

W. V. Griffin, Secretary to the Director General.

Helen L. Brainerd, Secretary to Assistant Director.

Hortense Haas, Assistant to Secretaries.

Jose M. Coronado, Spanish Translator.

Joaquim De S. Coutinho, Portuguese Translator.

Langworthy Marchant, Portuguese Translator.

Alexandre Michelet, French Translator.

William J. Kolb, Chief of Mail Room.

George F. Hirschman, Assistant in Mail Room.

Charles Columbus, Assistant in Mail Room.

Madeline S. Kavanagh, Chief of File Room.

William Manger, Assistant in File Room.

Manuel B. Montes, Assistant to Chief Clerk.

H. C. Snodgrass, Assistant to Chief Clerk.

H. R. Mills, Assistant to Chief Clerk.

Blanche Dunnington, Assistant to Chief Clerk.

Marjorie Miller, Assistant to Chief Clerk.

Helen V. Smith, Assistant to Chief Clerk.

Stanley M. Provost, Assistant to Chief Clerk.

Buildings and Grounds

J. Walton Barrett, Superintendent of Buildings and Grounds.

H. Burkholder, Engineer.

Harry F. Davison, Charles E. Leland, Guides.

James Whitehill ; C. W. Bedford; Wm. Betters; B. Brent; F. Butler; G,
Chappelle; E. Deviny; T. Gill; E. M. Knight; W. F. Kuhnert; Geo. A. Mathieson;
Corlies B. Taylor; W. H. Taylor; Wm. Wiener.

Messenger Force

John M. Butler; Marcel Cordove; James Davis; S. H. Edmondson ; Frank
E. Hearns ; Henson Hicks; F. D. Keesee; H. T. King; Francis Pree ; H. Randolph;
John Sims; F. D. Wilkinson; Clarence P. Williams.

Temporary Staff Aides for the Conference

R. M. Bartleman ; Margaret N. Bobb ; A. R. Burch ; Mildred Dean ; Alice M.
Heaven; Anne L. O'Connell; Joseph Sarbin ; Carmen Stuart; Agnes Quigley.



SUMMARIZED EXTRACTS FROM THE PROGRAM OF THE

CONFERENCE.

Reason and Purpose of the Conference

In February, 1911, there was held the First Pan American Commercial Con-
ference, called under the auspices of the Pan American Union. The announcement
of it said : "The purpose of this Pan American Commercial Conference is to con-
sider the actual and practical business conditions surrounding the exchange of
commerce and the development of trade between the United States and the other
American countries." It was attended not only by official and unofficial representa-
tives of all the American countries but of the principal commercial organizations
and the leading exporting, importing and shipping firms of the United States and
numerous individual business men and others of both North and South America.

In view, first, of the great practical good and actual impetus to Pan American
commerce which resulted from this First Conference; second, of the new after-
the-war conditions surrounding present and future Pan American commerce ; third,
the rapidly growing widespread interest in it throughout both North and South
America ; fourth, the obvious necessity and advantage of having a full, free, and
comprehensive exchange of information and opinions on the subject; and, fifth,
the suggestions favorable to such a Conference coming from representative men
of both North and South America, the Governing Board authorized the holding
of this informal Second Pan American Commercial Conference and instructed
the Director General to send out invitations accordingly. It is hoped that the same
good will result from it as did from the First Conference of eight years ago.

That the action of the Governing Board struck a responsive chord among
both official and unofficial commercial, financial and general business interests of
both North and South America is proved by the response that has come to their
invitations. When this program went to press Saturday night, May 31, over one
thousand actual recorded acceptances had been received.

Rules for the Conference

1. In view of the fact that the Conference is informal but called by the
representatives of all the American Governments, discussions affecting or criticiz-
ing their political or governmental policies will be strictly out of order and so
ruled by the presiding officers.

2. As^ the Conference is one purely of invitation, where the Governing
Board and executive officers of the Pan American Union are acting as hosts, there
will be no regular formal organization of the Conference beyond that arranged
under the general direction and charge of the. sub-committee of the Governing
Board and the Director General.

3. Because of the impossibility of committing the Governing Board or the
Governments represented by them to any particular line of action, no resolutions
will be presented or discussed beyond those of a complimentary and courteous
character.

4. In the discussions of the subjects or topics of the Conference all addresses
and papers will be strictly limited to ten minutes, except in the case of a few gen-
eral addresses, and participants uill please accept the ruling of the presiding
officer without protest or feeling of discrimination. The purpose of this rule is to
provide opportunity for a general discussion by those in attendance and to give
fair treatment to all participants and all subjects. It is, however, to be noted, that
those reading papers or making addresses and engaging in the discussions are
requested to extend their remarks in the printed proceedings, subject to reasonable
limitations.

Trade Advisers

Several members of the regular staff of the Department of State and the
Bureau of Foreign and Domestic Commerce, Department of Commerce, including
trade experts and commissioners, commercial attaches, diplomatic and consular
officers, have kindly consented to give advice in trade matters wherever possible.
Their headquarters are in the regular office of the Director General at the south
end of the main corridor, second floor. In this room is a box in which inquiries



to be answered can be placed. An officer will be in attendance to make engage-
ments for consultation.

Department of State

The following officers of the State Department will attend the Conference
and have kindly consented to participate in the discussions and give expert advice:
Julius G. Lay, Foreign Trade Adviser.
Charles Albrecht, Assistant to Foreign Trade Adviser.
Drew Linard, Assistant to Foreign Trade Adviser.
Dr. W. F. Willoughby, Regional Economist for Latin America.
Dana Munro, Economist for Mexico and Central America.
W. R. Manning, Economist for Latin America.

Department of Commerce Bureau of Foreign and Domestic Commerce

The following officers of this bureau will attend the Conference and have
kindly consented to participate in the discussions and give expert advice :
Dr. Burwell S. Cutler, Chief of Bureau.
Grosvenor M. Jones, First Assistant Chief.
C. A. McQueen, Chief of Latin American Division.
Dr. R. S. MacElwee, Second Assistant Chief.
Dr. W. E. Dunn, Assistant Chief of Latin American Division.
Dr. F. R. Rutter, Statistical Adviser.
L. Domeratzky, Tariff Expert.

Robert S. Barrett, former Commercial Attache at Buenos Aires.
W. W. Ewing, Trade Commissioner and Expert on Construction Materials.
H. C. Everly, Trade Commissioner and Expert on Furniture, etc.

Special Advisers

The following experts also will attend the Conference, participate in the
discussions, and have kindly consented to give advice in answer to inquiries :

William , E. Aughinbaugh, Editor, the "New York Commercial," New York
City.

Dudley Bartlett, Chief, Foreign Trade Bureau, Commercial Museum, Phila-
delphia, Pa.

David Beecroft, Directing Editor, "The Class Journal Company," New York
City.

John Clausen, Vice President, in charge Foreign Department, Chemical
National Bank, New York City.

Chas. L. Chandler, Manager, Foreign Trade Department, Corn Exchange
National Bank, Philadelphia, Pa.

Frederic M. Halsey, Foreign Department, National City Co., New York City.

Rea Hanna, Gaston, William & Wigrnore, 63 Broadway, New York City.

C. E. McGuire, Assistant Secretary, International High Commission, Treas-
ury Department.

J. J. Nordman, Pittsburgh, Pa.

Charles M. Pepper, Journalist, Chile and Northern News Association, Wash-
ington, D. C.

Frntos Plaza, Manager, Foreign Department, Montgomery, Ward and Co.,
Chicago, 111.

A. R. Rea, Fairbanks, Morse & Co., New York City.

Guillermo A. Sherwell, Juristic Expert, International High Commission,
Treasury Department.

J. J. Slechta, Holt & Co., New York City.

G. Cornell Tarler, First Secretary, American Embassy, Rio de Janeiro.

Edward W. Ames, American Steel Export Co., New York City.

Dr. H. E. Bard, Secretary Argentine-American Chamber of Commerce, New
^ork.

John S. Prince, Secretary Pan American Society of the United States.

Charles F. McHale, National City Bank, New York.

Paul Butler, J. W. Butler Paper Co., Chicago, 111.



XX

PROGRAM

SECOND PAN AMERICAN COMMERCIAL CONFERENCE
WASHINGTON, D. C.

JUNE 2 TO 6, 1919.

MONDAY, THE 2nd

AFTERNOON INAUGURAL SESSION.

Called to order at 4.20 P. M. by John Barrett, Director General of the Pan Ameri-
can Union.

Presided over by Hon. William C. Phillips, the Assistant Secretary of State, in
absence of Hon. Frank L. Polk, Acting Secretary of State and Acting Chair-
man of the Governing Board.
ADDRESSES BY

The Vice President of the United States, Hon. Thomas R. Marshall.

The ranking Ambassador of the Governing Board, Senor Beltran Mathieu,

Ambassador of Chile.

The ranking Minister of the Governing Board, Senor Ignacio Calderon, Minis-
ter of Bolivia.

The Speaker of the House of Representatives, Hon. F. H. Gillett.
The President of the Chamber of Commerce of the United States, Hon. Homer

L. Ferguson.

Messages of Congratulation from Latin American Presidents read by the Presid-
ing Officer.

EVENING SESSION

Called to order at 8.30 P. M. by Director General Barrett, presiding.
Address of welcome from the District of Columbia, Hon. Louis Brownlow, Presi-
dent Board of Commissioners.
Address of welcome from the Washington Chamber of Commerce, Mr. R. N.

Harper.

GENERAL REVIEW OF THE PAN AMERICAN COMMERCIAL SITUATION
ARGENTINA, papers and addresses by
Senor Pablo Roth, of Buenos Aires.
Senor Carlos Anchorena, of Buenos Aires.
Discussion on Argentina.
BOLIVIA, paper by

Senor Julio Zamora read at the Thursday morning session.
Moving pictures and lantern slides of Argentina and Bolivia.

TUESDAY, THE 3rd
MORNING SESSION

Called to order at 10 A. M. by Director General Barrett, presiding.
ADDRESSES BY

Senor Doctor Francisco Tuleda y Varela, Ambassador of Peru.

Honorable William C. Redfield, Secretary of Commerce of the United States.

GENERAL REVIEW OF THE PAN AMERICAN COMMERCIAL SITUATION Continued:
BRAZIL, papers and addresses by

Senhor Theodore Langgaard de Menezes, Commercial Attache, Brazilian

Embassy.

Senhor Sebastiao Sampaio, Brazilian Consul at Saint Louis, Mo.
Discussion on Brazil.
CHILE, papers and address by

Senor Ernesto Montenegro, representative of "El Mercurio," of Santiago

and Valparaiso.
Discussion on Chile.



xxi

AFTERNOON SESSION

Called to order at 2.45 by Director General Barrett, presiding.
GENERAL REVIEW OF THE PAN AMERICAN COMMERCIAL SITUATION Continued:
CHILE, discussion continued from morning session.
COLOMBIA, paper by

Senor Francisco Escobar, Consul General of Colombia in New York.

Discussion on Colombia.
COSTA RICA, paper by

Mr. John Meiggs Keith, President of the Chamber of Commerce of San
Jose.

Discussion on Costa Rica.
CUBA, paper by

Senor Porfirio A. Bonet, Commercial Attache to the Cuban Legation.
DOMINICAN REPUBLIC, paper by

Senor Manuel Camacho, Consul General of the Dominican Republic in

New York.
ECUADOR, paper by

Senor Gustavo R. de Ycaza, Consul General of Ecuador in New York.
GUATEMALA, paper by

Senor Francisco Sanchez Latour, Charge d'Affaires of Guatemala.
HAITI, paper by

Moris. Charles Moravia, Minister of Haiti.
HONDURAS, paper by

Senor R. Camilo Diaz, Charge d'Affaires of Honduras.
MEXICO, paper by

: Senor Doctor Juan B. Rojo, Counselor of the Mexican Embassy.
NICARAGUA, paper by

Senor Pedro Gomez Rouhaud, of Nicaragua.

Discussion on Nicaragua.
PANAMA, paper by

Senor J. E. Lefevre, Charge d'Affaires of Panama.

Discussion on Panama.

EVENING SESSION

Called to order at 8.30 P. M. by Director General Barrett, presiding.
GENERAL REVIEW OF THE PAN AMERICAN COMMERCIAL SITU XTIOK -^-Continued:.
PARAGUAY, address by

Senor Manuel Gondra, Minister of Paraguay.
Discussion on Paraguay.
PERU, remarks by

Senor Carlos Alvarez Calderon, of Peru.
Discussion on Peru.
SALVADOR, paper by
. Senor Atilio Peccorini, Secretary of the Legation of Salvador.

Discussion on Salvador.
URUGUAY, paper by

Senor Jose Richling, Consul General of Uruguay at large.
Discussion on Uruguay.
VENEZUELA, paper by

Dr. Jose Santiago Rodriguez, of the Venezuelan Special Mission.
Moving pictures of Latin America. "

WEDNESDAY, THE 4th
MORNING SESSION

Called to order at 9.30 A. M. by Director General Barrett, presiding.
SHIPPING AND OTHER TRANSPORTATION, INCLUDING AVIATION
Papers and Addresses by

Hon. Edward N. Hurley, Chairman of the U! S. Shipping Board;



xxii

Hon. Martin Behrman, Mayor of New Orleans.

Dr. Grosvenor M. Jones, Assistant Director, Bureau of Foreign and

Domestic Commerce.

George L. Duval, of Wessel, Duval & Co.

Hon. John McDuffie, Representative in Congress from Alabama.
Augustus Post, Secretary, Aero Club of America.
Captain Charles J. Glidden, Air Service, U. S. A.
Captain Max L. McCullough, Air Service, U. S. A.

AFTERNOON SESSION

Called to order at 2.45 P. M. by Director General Barrett, presiding.
TRADING METHODS FOR BOTH EXPORTING AND IMPORTING, BUSINESS ETHICS, MER-
CHANDISING, COMMISSION SERVICE AND DIRECT TRADE, EXPORT AND IMPORT COM-
BINATIONS, AND WEIGHTS AND MEASURES, ETC.
Papers and Addresses by
Dr. Burwell S. Cutler, Chief, Bureau of Foreign and Domestice Commerce,

Department of Commerce.
Senor Carlos Arellano, of Mexico.

E. T. Simondetti, John W. Thorne & Co., New York.

C. A. McQueen, Chief, Latin American Division, Bureau of Foreign and
Domestic Commerce, Department of Commerce, Washington, D. C.

Dr. William Notz, Export Trade Division, Federal Trade Commission.

Benjamin Catchings, Counselor at law, New York and Washington.

Dr. George F. Kunz, President, American Metric Association, New York;
paper read by H. Richards, Jr., Secretary of the Association.

F. A. Halsey, Commissioner, American Institute of Weights and Measures,

New York.
OPEN SESSION
Remarks by

Wing B. Allen, Publisher, "The South American," and "El Norteameri-

cano," New York.

Mrs. Joan Calley, All America Film Service, Washington, D. C.
Ernest Alpers, General Drafting Company, New York.
Henry E. Coronado, Goodyear Rubber Company, Akron, Ohio.
Carlos F. McHale, National City Bank, New York.
Arthur B. Farquhar, A. B. Farquhar Company, York, Pa.

EVENING SESSION.

j

Called to order at 8.30 P. M. by Director General Barrett, presiding.
OPEN SESSION ' '

Remarks by

R. M. Whitney, Associated Press, Washington, D. C.
Senor Enrique Gil, Counselor at law, Buenos Aires and New York.
Senhor J. C. Alves de Lima, Consul General of Brazil at large, New York.
Richard C. De Wolf, Counselor at law, Washington, D. C.

PARCEL POST, PATENTS, TRADE MARKS, AND COPYRIGHTS, CONSULAR AND OTHER
TRADE REGULATIONS, PACKING, ETC.

Hon. Otto Praeger, Second Assistant Postmaster General.
Senor Frutos Plaza, Foreign Department, Montgomery Ward & Co., Chi-
cago, 111.
Dr. Mario Diaz Yrizar, Director, International Trade Mark Bureau,

Habana, Cuba.

Hon. James R. Newton, U. S. Commissioner of Patents.
Senor V. Gonzales, Trade Adviser, The Mercantile Bank of the Americas,

New York.

F. B. Purdie, R. G. Dun & Company, New York.
Dr. Frank Rutter, Statistical Adviser, Bureau of Foreign and Domestic

Commerce.
Motion pictures of Latin America.



xxiii
THURSDAY, THE 5th

MORNING SESSION

Called to order at 10 A. M. by Director General Barrett ; Dr. Leo S. Rowe, Assist-
ant Secretary of the Treasury of the United States, presiding.
FINANCING TRADE, INVESTMENTS, LOANS, INCLUDING BANKING, CREDITS, GOVERN-
MENT AID TO COMMERCE, ETC.
Papers and Addresses by

Dr. Leo S, Rowe, Assistant Secretary' of the Treasury.

Frank L. Vanderlip, President, National City Bank, New York City.

Senor Augusto Villanueva, President, Banco de Chile.

Charles M. Schwab, President, Bethlehem Steel Company.

Senor Julio Zamora, Financial Agent of the Bolivan Government.

Julius G. Lay, Foreign Trade Adviser, State Department.

H. H. Merrick, President, Chicago Association of Commerce.

AFTERNOON SESSION

Called to order at 3 o'clock by Director General Barfett; Mr. H. C. Parmelee,

presiding.

ENGINEERING AIDS TO COMMERCE, INCLUDING RAILWAYS, HIGHWAYS, WATERWAYS,
HARBORS, IRRIGATION, SANITATION, ETC.
Papers and addresses by

Howard C. Parmelee, Editor, ''Chemical and Metallurgical Engineering,"

New York.

Major George A. Soper, Surgeon General's Office, U. S. Army.
Percival Farquhar, New York City.

Sefior F. P. de Hoyos, General Agent, National Railways of Mexico.
Discussion.

Charles Whiting Baker, Consulting Engineer, New York City.
Charles F. Lang, President, Lakewood Engineering Corporation, paper read

by Mr. Lloyd Brown, Vice President.
Dr. Walter C. Kretz, John Roebling Company, New York.
Discussion.

Verne L. Havens, Editor, "Ingenerfa Internacional," New York.
Discussion.

EVENING SESSION

Called to order at 8.30 P. M. by Director General Barrett, presiding.
GENERAL SESSION FOR SUBJECTS POSTPONED OR NOT CLASSIFIED

Herbert S. Houston, Editor, "La Revista del Mundo," New York.

Senor Pedro Rafael Rincones, Consul General of Venezuela in New York.

Captain H. R. Moody, Packing Service, U. S. Army.

Discussion.

Frederick L. Hoffman, Third Vice President, Prudential Insurance Com-
pany, Newark, N. J.

Leon Bensabat, American Chamber of Commerce, Rio de Janeiro.

Dr. Peter H. Goldsmith, American Association for International Con-
ciliation.
Motion pictures of Latin America.

FRIDAY, THE 6th

MORNING SESSION

Called to order at 10 A. M. by Director General Barrett; Mr. John Vavasour

Noel, presiding.

COMMERCIAL INTELLIGENCE, INCLUDING ADVERTISING AND PUBLICITY, AND NEWS-
PAPERS AND PERIODICALS, ETC.

F. B. Noyes, President, Associated Press.

W. W. Davies, Representative of "La Nacion" of Buenos Aires.

A. C. Pearson, President, Associated Business Papers.



XXIV

John L. Merrill, President, All Americas Cable Company.

Senor Alfredo vdH. Collao, Publisher of "La Prensa," New York.

John Vavasour Noel, President, Noel News Service.

AFTERNOON CLOSING SESSION

Called to order at 2.30 P. M. by Director General Barrett, presiding.
EDUCATIONAL AND SOCIAL AUXILIARIES TO COMMERCE, INCLUDING VOCATIONAL TRAIN-
ING, LANGUAGE STUDY, EXCHANGE OF STUDENTS AND PROFESSORS, -AND" GENERAL
INFLUENCES, ETC.

Senor Francisco J. Yanes, Assistant Director, Pan American -Union.

Discussion.

Dr. Roy S. MacElwee, Second Assistant Director, Bureau of Foreign and

Domestic Commerce.
Dr. Samuel McClintock, Federal Agent for Educational Foreign Trade

and Shipping.
Dr. W. E. Dunn, Assistant Chief, Latin American Division, Bureau of

Foreign and Domestic Commerce.
.Dr. Luis F. Corea, Vice President and Treasurer, K-P Corporation, JNew

York.
Miss C. E. Mason, President, Pan American Round Table, T^rrytpwn,

New York.
Mrs. Glen L. Swiggett, Secretary, Woman's Auxiliary Committee, Pan

American Scientific Congress.
Professor J. Moreno-Lacalle, Assistant Professor of Spanish, U. S. Naval

Academy.

Dr. S. M. Johnson, State Highway Commissioner of New Mexico.
Hon. Breckenridge Long, Third Assistant Secretary of State.
Dr. H. E. Bard, Secretary, Argentine-American Chamber of Commerce,

New York City.

REVIEW OF THE WORK OF THE CONFERENCE BY
Director General Barrett.

EVENING 9.30 P. M.

Reception and Garden party, given by the Governing Board in honor of those in
attendance at the Conference, including ladies and guests, in the Hall of the
Americas and the Aztec Garden of the Pan American Building and Grounds.







,






-




O "rt



SECOND PAN AMERICAN COMMERCIAL CONFERENCE

MONDAY, JUNE 2, 1919,
AFTERNOON INAUGURAL SESSION.

The Inaugural Session of the Second Pan American Commercial Conference
was called to order at 4:20 P. M. June 2, 1919, by John Barrett, Director General
of the Pan American Union, in the Hall of the Americas, Pan American Union,
Washington, D. C. In the absence of the Acting Secretary of State, Honorable
Frank L. Polk, The Assistant Secretary of State, Honorable William Phillips, pre-
sided over the session.

DIRECTOR GENERAL BARRETT: Ladies and Gentlemen: The Governing
Board of the Pan American Union, composed of the Secretary of State of the
United States and the diplomatic representatives of the other American Republics,
has seen fit to call this Second Pan American Commercial Conference for the pur-
pose of providing an opportunity for a full and free exchange of information and
opinions regarding the development of Pan American Commerce.

A Sub-Committee of the Board, composed of the Ambassador of Mexico
(represented in his absence by the Counselor thereof), the Minister of Venezuela,
and the Minister of Ecuador, have instructed me, as the executive officer of the
organization, to call this meeting to order and to present to you as the presiding
officer, who will now take charge of the meeting, The Assistant Secretary of State
of the United States, Honorable William Phillips.

THE ASSISTANT SECRETARY OF STATE OF THE UNITED STATES:

Mr. Vice President, Your Excellencies, Ladies and Gentlemen: In the absence of
the Acting Secretary of State, and therefore as temporary Acting Chairman of the
Governing Board of the Pan American Union, it becomes my privilege and agreeable
duty to preside at this Inaugural Session of the Second Pan American Commercial
Conference.

It is a gratification and an inspiration to see that so many practical men of
affairs have responded to the invitation of the Governing Board to discuss ways
and means to carry into effect the new spirit of Pan Americanism. On behalf of
the Board I bid you all a cordial and hearty welcome.

The First Pan American Commercial Conference was -held in the year 1911,
since which time events of stupendous importance have changed the map of the
world and greatly affected the relations of nations. The old world of 1911 has
disappeared and out of the anguish of the war there has been born a new spirit of
justice, which is even now struggling to take form and expression. Although the
western hemisphere has suffered it is almost untouched as compared with the war-
worn peoples of Europe and the Near East. Is it not therefore the duty of the
Americas to demonstrate that the new era of justice and square dealing has come
and that the Republics in this hemisphere are carrying out their ideal of a better
world in a helpful and practical manner?

In the days of 1911 we still strove to reach our mutual understandings to a
great extent through the medium of international politics. Today we realize that
there are agencies far more appropriate through which international relations may-
be developed and strengthened. The most powerful agency of all for drawing
nations together is that of foreign commerce when it is conducted in a spirit of
helpfulness and fairness ; in this spirit commerce carries with it mutual esteem and
binding friendship among nations and incidentally an ardent desire for firmer
friendship and closer commercial ties.

We have called you together, therefore, in order that we may frankly discuss
face to face business that will be to our mutual advantage. We in the United
States must realize, as pointed out by a distinguished South American statesman,
that the purchaser is entitled to what he wants, not what he should want in the