CREATION OF A WORLD-CENTRE.
OR CLEARING HOUSE
The diffusion of humanity forces industry and commerce with such a
strenuous arm to keep pace with its necessities that ever heavier obligations
are thereby brought to bear upon the financial world.
The increasing difficulties which the countries have to-day in interna-
tional exchange, definitely prove that an international understanding in regard
to a universal standard of money is essential.
A more logical and practical solution of the money question is maturing,
for the point of interest is less that of gaining a definite sum by the corrup-
tion of exchange, than of gaining a thousandfold more by creating a money
standard that will facilitate industry and commerce throughout the world, aid
their development and protect their rights, as well as relieve travellers of the
frequent losses and annoyances due to differences in exchange.
Even as the need of a simple and unified system of weights and mea-
sures has led to persistent endeavours universally to establish the metric
system, so the complications of an unequal money standard has led statesmen
and bank directors from all countries to urge the utility of creating an inter-
Therefore it is reasonable to foresee that some international agreement
must sooner or later be arrived at. An International Bank or Clearing-
House, created upon neutral ground, supported by international shares and
contributions to meet these requirements in a simplified and just manner as
well as to reduce the complications of exchange, has been discussed, and its
practical desirability has been made evident.
Exactly what form such an institution should take, would be presumption
and folly in the present work to lay down. It can only be said that some
sort of international organisation creating, regulating and handling such a
currency will clearly become inevitable. Therefore an imposing building has
been planned as a necessary part of this centre with the assurance that
through international cooperation, the ways and means of establishing an
international currency could undoubtedly be arrived at and that such an
accomplishment would wonderfully aid commercial relations. It is certain
that the facilitation of commercial exchange renders more durable conditions
Through international cooperation the laborious task already begun and
manifestly impossible to any one nation, of gathering together the catalo-
gues, and methods of research of all lands could be achieved. Thereby the
whole range of human knowledge could gradually be brought into view. It