merchants at home. If we could get, as we have many already, the principal merchants of New York to interest themselves in the American Chamber of Commerce in Paris, as they do in the association which I have the pleasure of addressing now, by becoming members of it, I believe they would find that, in a great many ways, it would help them in getting information which it is otherwise very difficult for them to get. As a matter of fact, the American Embassy in Paris is flooded with questions asked about all kinds of information regarding the entry of goods in France and regarding markets in France, and all of these inquiries are sent to our American Chamber of Commerce for answer. We are fortunate to say that we enjoy the kindest reception from the officials of the French Government, and that we are in position to be of use to our American merchants. Besides that, we have now organized a library containing a very large number of books on all those questions that may be of interest to those merchants who wish to do business between the United States and France; and that our rooms, although they are still rather small, are always open to all our American friends, and especially to the members of the Chamber of Commerce of the State of New York. I thank you. [Applause.] THE ANNUAL BANQUET. THE PRESIDENT.-I have the pleasure of announcing to you that, in a short time, the members will receive notices regarding the annual banquet of the Chamber, which is to be held on November 20th. I am glad to say that the British Ambassador, SIR CECIL SPRING RICE, has accepted an invitation to speak at the banquet, and we have reason to hope that there will be other acceptances that will make the occasion especially interesting. AMERICAN BANKING REORGANIZATION. The President announced that the Academy of Political Science in the City of New York had requested Senator OWEN and Representative GLASS to deliver addresses on the currency question, especially with reference to the most important bill which is now pending. The Academy of Political Science having suggested that it would be most agreeable to them if their first sessions might be held in the Hall of the Chamber, the Executive Committee applied to the Board of Trustees of the Real Estate of the Chamber, and obtained permission Cards of admission will be sent to all the members of the Chamber, and there will be a luncheon following the preliminary meeting at which Senator OWEN and Mr. GLASS will speak. That meeting will be held early, at 12 o'clock, so that there may be sufficient time for these two gentlemen to give their views before lunch. Afterward, a second meeting will be held, when there will be a thorough exposition of the bill, and criticism and debate. on it by various members of the Academy of Political Science, some of whom are members of this Chamber. The President expressed the hope that there might be a very full attendance of members, as the question of a final pronouncement by this Chamber on the legislation which is now pending is being held open until this opportunity of listening to the gentlemen from Washington and of hearing the comments and criticisms that may be made of the measure. The President also announced that a copy of the bill, with the amendments up to date, will be printed by the Chamber and will be sent to every member, so that each member will have all the information that is obtainable. He said that in view of the great importance of this question, it seemed to the Executive Committee desirable that the Committee on Finance and Currency should be enlarged temporarily, with the special object of studying this bill and of presenting to the Chamber at a special meeting to be held subsequent to the conference on October 14, the report of this Committee, which in its membership will comprise not only experts on matters of finance and currency, but also a large number of merchants who come in very practical contact with the working of whatever act may be or may become law. He had, therefore, added to the membership of the Committee on Finance and Currency, which at present consists mainly of bankers or others who are expert in finance and currency questions, the following merchants: CORNELIUS N. BLISS, JR. E. H. OUTERBRIDGE. JAMES TALCOTT. CLARENCE WHITMAN. The President asked that the Chamber ratify his action and authorize him to call a special meeting as soon as this Committee is ready to make a report. The ratification and authorization were given by an unanimous vote. INTERNATIONAL COMMERCIAL ARBITRATION. CHARLES L. BERNHEIMER, Chairman of the Committee on Arbitration, presented the following report and moved that it be printed in the Bulletin, and considered by the Chamber at its regular meeting in December. To the Chamber of Commerce: The spread of the idea of Commercial Arbitration is most encouraging to your Committee. Out of informal and occasional arbitration of individual disputes, there have sprung carefully organized systems of mercantile arbitration under the auspices of Chambers of Commerce. There is now developing another and still greater conception—that of the arbitration of disputes between merchants living in different countries in such a way that a decision rendered in one country would be accepted and upheld in another. At the Fifth International Congress of Chambers of Commerce, MR. EUGENIUS H. OUTERBRIDGE, at the request of your Committee, took with him for formal presentation a paper on the value of International Arbitration between Individuals. Since then two significant events have taken place. The following resolution was adopted by the International Congress of Chambers of Commerce and Commercial and Industrial Associations at Boston in September, 1912. (Proposed by the President M GRAND and seconded by Sir JOHN E. BINGHAM, Bart. of the London Chamber.) CANON LE The Congress affirms its desire to see convened as soon as possible a number of Official International Conferences, assuring between nations the existence of arbitral jurisdiction in the widest sense of the term and such as may assure an equitable solution of all international controversies, either between private people of different nations or between governments, and agrees to the principle of a combination of nations, when and where possible, to endeavor to prevent the atrocities of war.' "" In June 1913, the Council of the London Chamber of Commerce adopted the following: "That a letter be addressed to each of the Chambers of Commerce and commercial bodies represented at the Fifth International Congress of Chambers of Commerce and Commercial and Industrial Associations, urging their continued adhesion to the principle of the resolution adopted at that Congress in favor of Arbitration as a solution of international controversies, either between private people of different nations or between governments,' especially in view of the publicity given to the matter in the Press and in other directions; further that invited to indicate in what direction they will be prepared to ventilate the direction." The time seems opportune for giving more detailed thought to practical methods and also to a securing of a wider consideration and discussion of the matter. Accordingly your Committee, with the co-operation of MR. JULIUS HENRY COHEN, a member of the New York Bar and of the American Bar Association, has drafted the bare outlines of a Plan for International Commercial Arbitration, which it suggests be transmitted to the important Chambers of Commerce of the world for discussion and criticism. In this way your Committee believes that some plan (if not the precise one submitted by your Committee, then it is hoped a better one) will eventually be worked out. The opportunity offered is a notable one. Business men are becoming more and more conscious of a pervading spirit of fair play and good will among the men of influence in all commercial communities. The problem is to put this spirit into the relationship between business men at a time when it is most useful, namely when a controversy has arisen between two business men requiring the judgment of a third. Rarely has an opportunity to this Chamber been offered, promising so much in constructive and practical work for mankind generally. Your committee offers the following resolution and moves its adoption : Resolved, That this report and the accompanying suggested plan be transmitted to the leading Chambers of Commerce throughout the world and also to the Permanent Committee of the International Congress of Chambers of Commerce with the request that they give due consideration to the proposals. Submitted to the Chambers of Commerce of the world, for consideration and criticism, by the Committee on Arbitration of the Chamber of Commerce of the State of New York. I. In all contracts between merchants of international communities there should be inserted a standard clause, to the effect that in the event of controversy concerning interpretation of the terms of the contract, or performance thereof, such controversy shall be submitted to the Arbitration Tribunal of a Chamber of Commerce, Merchants' Association, Board of Trade or Exchange named in the contract. II. In each important commercial community there should be selected one or more organizations such as a Chamber of Commerce, Board of Trade, Merchants' Association or Exchange of high standing or moral influence, which will take responsibility for the maintenance of a system of commercial arbitration for the disposition of controversies arising either between merchants of its own community or between such merchants and foreigners. III. Such Chambers, Boards, Associations or Exchanges shall exchange international agreements, by which they will agree to enforce to the full extent of their influence the awards made by any other tribunal of a party to the agreement. And as courts of law of countries at peace with each other give full faith and credit to the judgments and decrees of any courts having jurisdiction, so such Chambers, Boards, Associations or Exchanges signatory to such agreements shall give full faith and credit to the awards of tribunals of arbitration maintained by each other. IV. Where legal proceedings are not practicable, the Chamber, Board, Association or Exchange in the district of the residence of the party against whom the award is made, shall shall endeavor to enforce the award in the following manner : It shall first bring to the attention of the party against whom the award is made the fact of the award. If he shall fail to comply therewith, it shall prefer a complaint against him to any organized trade association of which he is a member, and shall follow up such charges to the full extent of its power. A monthly Bulletin should be published under the auspices of all of the Chambers in which should be given a resumé of such decisions as shall have been rendered by the tribunals of the various Chambers, and in which shall be published a list of the awards made, together with the results of such awards. It shall transmit to all other Chambers the firm name of any party refusing to comply with the award, with a statement of the reasons, if any, given by him for such refusal. V. nate If the party securing an award shall so desire, he may desigas his agent the Chamber, Board, Association or Exchange in the jurisdiction of the party against whom the award is made to bring such legal proceedings as may be practicable for the due enforce ment of the award. VI. When a dispute shall arise over a contract containing a clause as is suggested in "I." either of the disputants may bring the matter to the attention of the tribunal specified in the contract. The tribunal shall thereupon notify the other party to the dispute and shall hear the cause. The party notified may appear in person or If duly notified and he shall default in appearance, then the tribunal shall hear the party complaining and may in its discretion make award. If either side so desire he may submit the matter in by proxy. writing. VII. If the controversy involves merchandise, the tribunal of |