Oxford eagle. (Oxford, Lafayette Co., Miss.) 1876-current, 1920-02-12

living in America is due to shortage
of production no more than to the
greed of the producers. For the
downward trend of foreign exchange
Is putting 4 stop to the export of
American products to Europe, and
those who should know agree that
this is almost certain to result In
decrease in prices in this country.
The European importers cannot af-
ford to buy these products when ex-
change is so much against them, and
there will be q backing up" in all
lines Of goods which will be thrown
on the American market. This move
ment already is under way. Prices OF
grains and other commodities declined
considerably last week, and In the
case Of grains the drop was helped
on by the action Of the railway ad-
ministration which placed a ten-0ay
embargo on the use Of freight cars
for the shipment OF anything except
grain, wood pulp or sugar in the Mis-
sfssippi valley states. This was done
to provide the farmers with cars with
which to send their crops to market,
relieving the artificial shortage and
releasing immense funds.
Dispatches from Warsaw made n
plain that Poland was about to &C.
oept the peace offer Of. the soviet gov
eminent Of Russia provided guaran-
tees were given that bolshevist prop
uganda in Poland and other European
states would cease. Poland's aim,
says Prince Lubomirsk, minister to
the United States, is to serve as q
peaceful and moral bulwark against
bolshevism, and for this she must
have the economic support Of the al
lies. :"
BY the Russo Esthonian peace
treaty the soviet government re-
riounces all sovereignty over Es-
thonia and recognizes its independ-
ence. Both parties renOunce claims
to compensation for war e1pendi-
lures The treaty provides that pris-
oners will be. repatriated shortly by
both. Russia is to pay 'Esthonia TO-
100000 rubles In gold. There are to
be no customs or transit charges On
goods by either country.
The soviet armies met with some
reverses last week, notably one in the
region of sthe DON where the best of
the bolsheyik cavalry was routed by
the Russian volunteer forces. In gen.
eral, however, the soviet forward
movement was continued on all fronts.
A local revolution in Vladivostok put
that city IN the hands of the rebels.
In England and probably elsewhere
the opinion is gaining strength that.
peacexshould be made with the Lenine'
government because the return to
normal life in Russia will soon de-
stroy bolshevism. ..
When vissount Grey's letter to the
London Times, justifting the delay of
the sepate in ratifying the, peace
treaty and explaining to the British
y the attitude of America toward world
affairs, was made public it was at
once assumed that acceptance of the
pact by the senate, with. the Lodge
reservations little modified, would
soon follow. Both sides admitted
THAT the Grey letter had Knocked i'm
portant props from under the, opposi-
ton to the Lodge program, in that it
made clear that Great Britain and.
presumably, the other allied powers
would welcome the adhesion of Amer
lea even with the reservations. The
informal committee Of the senate had
failed to reach "a compromise and
Hitchcock had given notice. that he
would move to take up the treaty in
the open senate.< on February 10
Lodge countered with the statement
that the Republicans. would bring the
pact before the senate one day earlier.
AS the days passed with no comment
from the White House on the Grey
letter, however, hope for early ratIfi-
cation faded, and toward the end Of
the week. 1t. was widely reported in
Washington, that the letter had an
gered the president and increased his
determination never to accept the
Lodge reservations or anything like
them. It was said Mr.. Wilson and
his firm adherents looked on Viscount
Grey's pronouncement as an nnwar-
ranted attempt by the spokesman Of
a foreign government to interfere in
the legislative affairs of this country
Though 1t seemed the letter had per
suaded many Democrats that Ii WE s
best to accept the reservations, 1t was
admitted that the president could
still rally sufficient pi-gnEe T. N-e
vent ratification,