Furthermore, it was decided to institute an International High Commission, which should continue permanently the work of the conference, sitting in rotation in the capitals of the several republics. This commission met first in Buenos Aires in April 1916, and decided to create a Central Executive Council to consist of three members, namely the chairman, vice-chairman and secretary of the section representing whatever country should be at the time the headquarters of the High Commission. On the motion of Argentina it was unanimously agreed that the headquarters for the first year should be Washington. Thus the first Central Executive Council consisted of three North Americans, the three heads of the United States section of the International High Commission. During the last three years, North American capital has been poured into Latin America, notably into Brazil, although perhaps the most striking instance is the acquisition of three huge and profitable mining properties in Chile, producing copper and iron. American commissioners are studying the field; direct steamship communication between the two continents has been extended; and American banks have been opened in many South American cities. It is remarkable how large a space is given day by day to Latin America in the Daily Commerce Report and List of Trade Opportunities published by the United States Bureau of Foreign and Domestic Commerce. Meanwhile the Pan-American Union, housed in a magnificent palace at Washington, labours unceasingly to draw closer the political, economic, social, and intellectual relations. But in other directions, indeed in all directions, Latin-American economic and international relations are opening out and finding new roads. Canada has earned a high reputation by her industrial enterprises, and Canadian banks are being established in South American capitals. The Dutch too are opening banks and preparing to extend their trade. Japan, also, is drawing closer to this new Europe of the western hemisphere. Japanese immigration is increasing, not only to the republics of the Pacific coast, but also to Southern Brazil. The Japanese steamship service to the west coast has been extended, and lines of Japanese ships are now running, also, to Buenos Aires and Rio. Industrial Japan aims at substituting for German trade the production of goods formerly imported from Germany, and Japanese pioneers are travelling in South America to study and prepare the ground. Japanese relations with Chile are particularly close and friendly. Chile can supply iron and copper, which Japan wants; and in return Chile is prepared to take Japanese cotton and silk. Kaolin or china clay was lately discovered in Chile: a specimen was sent to Japan for trial; and, as a result, a china factory has been started in Chile, the skilled labour being provided by Japanese artisans. Truly, the whole world is drawing nearer to South America.