The Washington times., 1917-04-29
WALL ST. LOOKS TO
STATUS AFTER WAR
Disposition Shown to Forecast
Conditions as Though Peace
Were Imminent.

NEW YORK, April '2s.-with this
country still in the first phase Of its
war Experience, there was a strong
| disposition this week to forecast
postwar conditions as though peace
were imminent. Perhaps not one OF
the least important duties which the
British and French commissions will
have to perform is to convince people
ever here that there is a possibility
OF a much longer period of hostilities
before the world than generally is
realized. At any rate, the only safe
course to take must be based on that
assumption. Opinions naturally vary
widely as to what will take place In
the economic world when peace does
become a reality. On the subject OF
peace, however. II is only needful for
the present to heed the way the wind
Is blowing as indicated by such frag
mentary information as It may be
possible to CLEAN from Dutch and
italian cables.
1t Is the general impression that
Austria-Hungary, Bulgaria, and Tur-
key are eager for peace on almost
any terms. and that the Teutonic
alliance IL in grave danger of dissolu-
tion. The ominous lack of news from
the central empires in the past few
days tends to strengthen that impress
sion, as the last intelligence coming
out directly was a mixture of food
riots, Industrial strikes, and political
unrest in general The young Aus
trian Emperor IL credited with a per
sonal yearning for peace quite ire
spective of Berlin's straits. 1t would
appear. too, that the Rapsburg Is
growing weary of Hohenzollern die
tation.
Allies Much Heartened.
Turkey seems to be in a state of
military and economic collapse. Bull
garia believes she has achieved all
ends for which she entered the war.
There Is at best a deadlock on Eu-
ropean fronts save the western, where
the British and French are giving
the Germans a terrible drubbing,
with every prospect. of an ultimate
push to the Rhine frontier, IL not
beyond. A mysterious naval expedi-
tion of the Teutons in the Baltic Is
| supposed to be directed against
Petrograd. but as yet there appears
to be nothing on which to base any
great fears in that quarter.
Meanwhile, our allies have been
heartened wonderfully by the grati-
flying promptness of this country's
financial mobilization. The offering
OF $3.50, ,0OO,0 Government certifi-
Gates was quickly oversubscribed, and
5000, 900 900 OF the proceeds Of the
sale was turned over to Great Brit
ain, with little more than a ripple
| on the surface of our money market
A further offering OF 100000. 900 In
| certificates within the next ten days
IL projected and. according to Wash
ington adyices. the proceeds will be
| advanced to Italy to enable her to
buy coal. of which she stands in dire
| need. Arrangements are developing
space for the construction OF mer-
chant ships with which to bridge the
gap which submarine piracy Is daily
making in the shipping OF England.
The encouraging aspect OF Great
BrItain's food problem IL the COM
plete frankness OF the British au-
thorlties in acknowledging the
danger. Everybody knows the worst;
at least. II Is not Lord Devenports
fault II everybody doesn't. This
tends to whoIehearted Cooperation,
wherein strength lies.
The presence Of the distinguished
French and British staresmen and
military and naval leaders doubtless
will operate to make our co-opera-
| tion with the allies the more effec-
tive from every point OF view.
Tendency To Cheerfulness-
The weeks Developments, there
fore. were OF a character tending to
cheerfuIness When the stock market
closed last week, 1t was quite gener-
ally agreed that II was oversold.
The short interest was tremendous.
The bears counted on the uncertain
ties OF the forthcoming taxation pro
gram, with all that II entailec OF
nervousness concerning the burden to
be placed on industry as well as on
the Individual, to carry prices still
lower when the current week open
ed But despite efforts to convey the
Impression that the Government
meant to get every penny possible.
wherever possible, the feeling grew
that the utmost conservation would
mark all taxation measures.
Washington let il be known that
every precaution would be taken to
avoid hampering business. About
the same time that the President
signed the $1,000. 900. 900 finance bill
on Tuesday, the Information came to
hand that probably not more than
81 900 .OOO. 900 OF the $4,000. .000. 900
bonds provided for in that measure
! would be offered at first. Wall
Street heard that a group OF New
York bankers would be asked to
handle the flotation. a mere rumor
Of course. but a Circumstance tending
to Illustrate the better feeling exist
ing between the Administration and
the financial capital of America.
The result was that the bears had
rri,.n and make