THE NATIONAL CHAMBER OF COMMERCE 
without submitting their differences to an International Court or a 
Council of Conciliation, and awaiting the decision of the Court or 
the recommendation of the Council, as circumstances make the more 
appropriate. 
The United States should take the initiative in establishing the 
principle of frequent international conferences at expressly stated 
intervals for the progressive amendments of international law. 
(Referendum No. 11, submitted November 15, 1915.) 
PEACE TREATY 
Uncertainties in our international relations retard our progress. 
A treaty of peace should be placed in effect, without more delay. 
This treaty should safeguard every fundamental principle of the 
government of the United States and should protect the rights of 
American citizens. (Resolution, Eighth Annual Meeting, 1920.) 
INVESTMENTS ABROAD 
The position of the United States as a creditor nation tends to 
stimulate American investment abroad. It is desirable that every 
possible encouragement be given such investment, as an essential 
factor in the development of American foreign trade. 
Legitimate American investment abroad is entitled to the same 
measure of protection in the countries where made that is given by 
this government to foreign investments in the United States. The 
United States should enunciate and enforce a firm policy for the 
protection of American citizens and legitimate American enterprises 
and investments in foreign lands. (Resolution, Seventh Annual 
Meeting, 1919.) 
WORLD READJUSTMENT 
In his recent address to Congress, the President of the United 
States declared: 
“We have witnessed, yea we have participated in, the supremely 
tragic episode of war, but our deeper concern is in the continuing 
life of nations and the development of civilization. . . . Our obli- 
gations in effecting European tranquility because of wars involve- 
ments are not less impelling than our part in the war itself. This 
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