A committee of government experts in foreign trade recently considered the question of the character of the agencies most desirable for banks to maintain in foreign countries - whether they should be branches in the strict sense of the term, or independent banks affiliated with American banks the capital of which would be supplied wholly or partly by the American banks, or, finally, whether they should be local banks already in operation, control being secured through the purchase of the majority of their stock. The committee did not formulate any definite conclusions; it did recognize, however, the advantages resulting from the association of local capital with a foreign branch bank undertaking, and from securing the co-operation of natives through their representation on the board of directors or in the management of the branches. It also urged the importance of foreign branches of American banks being, so far as practicable, under the management of American citizens, and the importance of employing American banking methods. As banks are constantly in receipt of valuable information regarding investment and trade opportunities, it was thought highly desirable that the officers to whom this information came should, as a result of their nationality, be interested in the promotion of the interests of the United States rather than those of a third country.