Courtesy of William Fisher

International Broadcasting Division of the Department of State, released on a special rebroadcast San Francisco's Pan American Day ceremonies at the City Hall, including the addresses made by the various dignitaries participating. The program also referred to the dinner given y the Joint Committee on April 12 in honor of Latin American students in uniersities and colleges in the San Francisco Bay area. It was released over the full acilities of the United Network, consisting of five powerful international shortwave tations-КСВА, KCBF, KNBA, KNBI, and

WID.

The Círculo Hispanoamericano de San

Francisco, through its president, Mrs. A. S. Musante, and a committee of four members, coordinated the participation of school children in the observance of Pan American Day. The San Francisco Recreation Department sent two hundred public school children in picturesque Latin American costumes to take part in the ceremonies at the City Hall. Boy Scouts acted as ushers and Girl Scouts distributed souvenir booklets to all children attending the program. The Círculo Hispanoamericano also arranged beautiful decorations of spring flowers, flags, and banners in the Colonial Ball Room of the St. Francis Hotel for the dinner given in honor of Latin

American students on Friday, April 12.

The Pan American Association, Inc. of Oakland and the East Bay, through its President Professor T. Harper Goodspeed and a committee of members, invited the Latin American consuls to speak on Pan American themes for civic organizations throughout Northern California.

In observance of Pan American Day and in honor of members of the Latin American consular corps and their wives, the Pan American Association held a reception on Sunday afternoon, April 14, in the Faculty Club and under the spreading oaks of the beautiful Faculty Glade on the University of California campus in Berkeley. Among the three hundred guests attending were the Mayor of Oakland, Herbert L. Beach, and Mrs. Beach; the Mayor of Berkeley, Fitch W. Robertson, and Mrs. Robertson; civic leaders of Oakland and Alameda County, the presidents of Bay Area universities, and the presidents of eight Pan American organizations. Latin American music was played at intervals during the afternoon by soloists appearing with the Oakland Symphony and San Francisco Symphony orchestras.

The Círculo Español, through its president Mrs. Camille da Valle and a committee of four members, was in charge of arrangements for the dinner given in honor of all the Latin American students in colleges and universities in the San Francisco Bay Area by the organizations represented on the Pan American Day Joint Committee. The dinner was held in the Colonial Ball Room of the St. Francis Hotel on April 12. Response to invitations was so great that many members of the participating organizations could not be accommodated. Acting as hosts to the one hundred seven Latin American students were forty organizations and individuals of San Francisco and the Bay Area. Entertainment was provided

throughout the dinner by singers of Span ish American songs, and other music by a marimba orchestra.

Herbert W. Clark, chairman, acted as toastmaster, introducing Roger D. Lap ham, Mayor of San Francisco, who was the honor guest and speaker of the evening. Mr. Clark read lengthy telegrams received from the Honorable Spruille Braden, Assistant Secretary of State; the Honorable L. S. Rowe, Director General of the Pan American Union; and the Honorable Earl Warren, Governor of California, who was prevented from attending by State business.

Fernando Caballero Marsal, of the Republic of Paraguay, a brilliant young student awarded a fellowship at the University of California through the cooperation of the University and the Department of State, was chosen to speak on behalf of the Latin American students. Señor Caballero's eloquence and sincerity brought a warm response from the three hundred guests present when he told them what an education in the United States has meant to one hundred and seven Latin American scholars in Bay Area colleges and universities.

"Though we come from many countries," Señor Caballero said, "we are all one in our faith in the destiny of the Americas, and in our eager desire and determination for the universal peace. . . . We shall never forget this busy, enriching, and challenging American interlude in our young lives, for we have fallen in love with your beautiful and generous America. I is our sincere hope that we have also giver something in return. . . . The United States has now a hundred unofficial, wel informed ambassadors of good will t Latin America in this area alone.”

The Pan American Society, San Fran cisco Chapter, through Herbert W. Clark its president, William Fisher, its secretary

and an assistant committee, was in charge of the Pan American Day ceremonies in the rotunda of the City Hall. They were held on Saturday morning April 13 as the fourteenth fell on a Sunday.

Against a background of flags of the twenty-one American Republics, two hundred school children, accompanied by the San Francisco Municipal Orchestra, sang national anthems. On the speaker's platform were seated William K. Romero of the Pan American Society, who presided; Herbert W. Clark, Chairman of the Pan American Day Joint Committee; the Honorable Roger D. Lapham, Mayor of San Francisco; Dr. Mario Aráoz-Levy, Consul General of Bolivia; J. S. Curran, past president of the Pan American Society; George W. Kemper, President of the San Francisco Library Commission; and Lawrence J. Clark, San Francisco City Librarian. Consuls of the twenty Latin American Republics, General Stilwell and Admiral Wright with members of their staffs, civic and business leaders, and many others, attended the ceremonies.

Included in the program was the presentation to the city of a gift of books from the government of El Salvador, and of a collection of books on Latin America offered by Ulpiano Borja on behalf of Luis Silver. Both were received by George K. Kemper on behalf of the San Francisco Public Library.

A medal was presented to J. S. Curran, 1945 President of the Pan American Society, for services in the cause of Pan Americanism. The Honorable Mario Aráoz-Levy spoke on behalf of the Latin American Consular Association, and Herbert W. Clark on behalf of the Pan American Society. A high-light of the ceremonies was Mayor Lapham's address, which emphasized the importance of the success of the United Nations to the future of Pan America.

The Mayor declared: "It would be the essence of hypocrisy to pay tribute to these heroes [of the war] and to the principles for which they fought and died unless we seek to effectuate these principles with deeds. We must destroy every force in all lands not dedicated to these principles. If we fail to make a success of the United Nations in the administration of all its parts, Pan Americanism is endangered. Remember if this movement fails, we shall not ask for whom the bell tolls. It tolls for thee."

At the close of the ceremonies a reception was held by Mayor Lapham in his offices at the City Hall in honor of the Latin American consuls.

Thus in many ways the observance of Pan American Day made all thoughtful San Franciscans conscious that it is possible for nations to live together in continuing cooperation and friendship.

Industrial development

THROUGH a law approved on October 17, 1945, offering special guarantees to foreign capital, Bolivia announced its readiness to absorb capital displaced by the war and in search of new fields of investment where stability and satisfactory returns are assured. The law is a timely one and should prove of great importance to the economic and industrial future of the country. It aims ultimately to increase the national wealth, for to enjoy its guarantees and security, the incoming foreign capital must be invested in specified basic industries which have not yet reached a high stage of development in Bolivia. To receive the law's benefits, the foreign capital must amount to at least 1 million bolivianos (1 boliviano equals $0.0236 U. S. cy.) if invested in agriculture, stock raising, and their derivative industries, and 5 million or more bolivianos if invested in the production of electric power; manufacturing industries; minerals not previously exploited or exported, or the mining and exportation of which has cut no appreciable figure in the national economy; communication routes; lowcost housing; credit institutions; the development of other minerals; the acquisition of domestic bonds, certificates, and mortgages; and foreign and domestic trade. The incorporation of foreign capital must be accomplished in one of two ways, or

1 Assisted in research by Clara Cutler Chapin and Mary G. Reynolds.

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in both ways simultaneously: through the sale of foreign exchange to the Central Bank of Bolivia at the official purchase price; and through the importation of machinery or materials for the establishment or enlargement of industries, thef construction of communication routes, or low-cost housing projects.

The profits earned by the capital sol invested in the country may be retired in the same manner in which they were contributed, or in any other way, to an annual proportion of 15 percent of total profits; and the capital investment may be amortized in annual amounts of 20 or 30 percent, according to the kind of investment. These operations will be conducted through the Central Bank of Bolivia. Once the capital is amortized, all of the business assets that remain in the country, whether in cash, machinery, installations, raw materials, manufactured stocks, and other implements, as well as any balances the enterprise may possess abroad, will be considered as national capital. (E Diario, La Paz, October 26, 1945.)

Directed toward stimulating the estab lishment of new industries for preparing Haiti's agricultural products for export Decree-Law No. 589 of December 26 1945, authorized import duty exemption during the next five years on new ma chinery and equipment brought into the country for that purpose, providing the total value is not less than 100,000 gourde (the gourde equals $0.20 U. S. cy.) Furthermore, all kinds of agricultura