The Washington times., 1919-12-19
BOERSIANER'S
COM MENT ON
BUSINESS
By BOERSIANER.


be on the seas some time next month
A new order has quietly superseded
the old as respects the covenant
Without public notice, covertly.
Messrs. Lodge and Hitchcock have
given way to a fresh Senatorial force
which is of a thorouRhly accommo-
dating character. Compromise re0re-
sentatives from the North and South
more identically, from the Middle
West, and the northern South, are
busy arranging a pact agreeable to
Senators. sanctfonal to the President
and generally approvable.
1t will be q treaty on the lines
originally written BY the President
with sufficient reservation to mollify
the Senate apd xschange in article ten
precludes of Americas future partici-
patton in Europe's militant diplomacy.
T This Information Is authoritative.
1t comes from the inner penetraiia of
Senatorial circles. Although as yet,
nothing definite has been concluded
the current progress OF the newly ap-
pointed committee is such as to prom
Use happy conclusion in January.
Agrees to Reservations.
One Senator after another has
agreed to the modified treaty, which
at the outset was submitted to and
approved by the President 50 that
the chances are many that the docu.
ment will be on the way to Paris in q
few weeks.
Business powers have been busy in
Washington from the day it was forex
seen that the original treaty as It
came to the Senate would be altered
to a state unacceptable to the Presi-
dent. They impressed upon Wash
ington the financial and commercial
perils which a deadlock would invite.
The Lodge and the Hitchcock ele-
ments thereupon withdrew and were
speedily replaced by two Senators
whose attitude had not been uncom-
promisable either way and who have
associated with them q number Of
like minded representatives.
During the last few days, q report
from the Capital has it that the Sen
ate would make peace directly with
Germany, ignoring the President and
Versailles; another that nothing
would be done-the matter would be
left in an impasse indefinitely. Both
are specifically the corridor gossip
which Is ignorant of what il taking
place in inside circles.
1t is also practically official that
the Edge bill, as it will reach the
President, has had the pushful aid of
powerful financiers, who mean to or
ganize a largely capitalized corpor-
alton in conformity with the measure
In sum, Washington officially. to-
gether with leading financial factors,
the countrys commerce, but TO en-
large and accelerate.
The Chief Obstacle.
A chief obstacle, the treaty. As vir-
tually assured of removal: the other
foreign exchange, now appears to be
superable; every effort will be made
by the financiers indicated to sur
mount it.
There is, therefore, q latent conn.
dence-among those who are active
in Washington-that January will
witness the beginning of an indus
trial and financial movement which
will retrieve the relative depression
provoked by a hang-f1re treaty, an un
controllable and unsustained foreign
exchange market and by successive
strikes. Moreover, in view of the
Presidents agreement to the new
treaty and his other cooperative de-
sires, 1t is altogether probable tina,
his message to the Congress on the
railways will be constructive.
At present-pending the importait
concentrations in washington-the
difficulties in finance continue to be
transiently technical. There is liqui
dation in the stock market for tax
reduction purposes, gradually Offset
IL not a little more than paired, by
early investment buying and by in
creasing covering on the part OF pro-
fessional short sellers. Money, too
is less of a worry now that the heavy
Withdrawals by the Government or
Monday took place without causins
individual LESSONS or an undue gen.
eral strain. Bankers report that many
and important January 1 maturitie:
have already been cared for by pro
dent negotiators.
Terrors Vanishing.
While foreign exchange must be q
problem the reverse Of captivating
some Of it's terrors are vanishing, al
was suggested today by the stamped.
among speculators who had shorted
it. The fluctuations were wide and
abrupt Some still apprehensive hold
ers Of bills eagerly took advantage oi
the violent bulges to liquidate, anc
operators for the decline, become lust
as nervous, bid widely against each
other to complete contracts outstand
I ing for a long tine.
Despite the fall OF the pound. Lon
don has been far from discouraged
The exports of products from the
United Kingdom ended in November
exceeded by 81 200 ,ooc. 900 the CORE.
spending months Of 191s-when the
outgo of merchandise was hampered
by shipping facilities. Imports in
creased heavily-mostly because oi
purchases in exceptional quantity OF
foreign materials for manufacture
but the increase in exports was sc
much greater than that Of imports
that in tho period stated England
excess of imports over exports has
this wear been smalle than in 1918
by more than $500 ,OO0, 900.