"In addition to accepting The Hague convention the conference went further. It accepted the three Hague conventions as principles of public American international law, and authorized and requested the President of the Mexican Republic, as heretofore explained, to enter upon negotiations with the several American Governments looking toward the most unrestricted application of arbitration possible should the way for such a step appear open. In addition to the protocol and treaty referred to, another step was taken in the direction of the settlement of international controversies by the adoption and signing, on the part of every country represented in the conference, of a project of treaty covering the arbitration of pecuniary claims. Under this the several republics obligate themselves for a period of five years to submit to the arbitration of the court at The Hague all claims for pecuniary loss or damage which may be presented by their respective citizens and which cannot be amicably adjusted through diplomatic channels, when such claims are of sufficient importance to warrant the expense of arbitration. Should both parties prefer that a special jurisdiction be organized, according to article 21 of the convention of The Hague this may be done, and if the permanent court of The Hague shall not be open to one or more of the signatory republics for any cause, they obligate themselves to stipulate then in a special treaty the rules under which a tribunal shall be established for the adjustment of the matter in dispute and the form of procedure to be followed in such arbitration. As a supplement to the protocol and treaty above referred to, this project of treaty is of great importance and will most certainly be of wide benefit to the good relations and intercourse between the United States and her sister republics of this Hemisphere." …