Bound To Arbitrate Tolls.

New York Times 100 years ago today, December 22, 1912:
Hornblower Tells Peace Organization of Duty in Canal Dispute.
    WASHINGTON, Dec. 21.— No action was taken to-day by the American Society for the Judicial Settlement of International Disputes on the resolution offered last night by Everett P. Wheeler of New York to the effect that the United States should declare its willingness to submit to arbitration the Panama Canal controversy between Great Britain and this country. The Executive Committee, to which the resolution was referred, made no recommendation, holding that the most good could be accomplished by the organization by permitting free individual discussion of all questions without committing the society as a whole.
    Business is the great social power which will do more than any other factor in bringing about the establishment of international tribunals, according to Omer F. Hershey of Baltimore. "Business is developing a spirit throughout the world," he said, "which is helping to make war impossible. A financial disturbance in Buenos Aires is felt in the other capitals of the world, and for this reason big international business finds a way of settling its problems without war."
    William B. Hornblower of New York expressed the opinion that the United States was literally bound by the terms of the Hay-Pauncefote treaty to submit to arbitration the question of tolls on American coastwise shipping through the Panama Canal.
    The conference closed with a banquet to-night, the list of after-dinner speakers including Senator Burton of Ohio, Representative James R. Mann of Illinois, Rear Admiral Richard Wainwright, Dr. James Brown Scott of the Carnegie Endowment for International Peace, and Frederic R. Coudert of New York.