48 lection of the revenues and the payment of the appropriations, and for the payment of interest upon foreign or internal debts, etc. etc. representative of the government at Washington, a representative of the government of the country to which the bank pertains and a representative of the holders of outstanding bonds to compose the board of directors.
IX. The construction of the Pan North American Railway for account of the United States of America, without any larger belt of land upon either side of the line than may be necessary for the management and use of the trains and other accessories of the enterprise. The building of branch lines from the PanNorth American trunk line, for account of each of the signatory countries, within their own territories.
XI. general police force maintained by all, for vigilance, health, etc.
There is no necessity for adding any more reasons than those already adduced. The object, the tendency, is ohvious. Carried into practice, agreements such as these would result in the intimate, spiritual and material progress of all of North America, and in the effective sovereignty of the Central American Republics in case they should not consider it a more beautiful thing, and one of greater benefit to themselves, to enter the great North American federation, towards which those nations are surely tending through forces developed by the marvellous discoveries of modern times.