The Birmingham age-herald., 1921-10-31

enormously oversubscribed. The bond market is firm and new issues az sregating nearly s100,000,000 were easily absorbed during the week.
 significant sign of the times is an enormous enrolment at our col leges. Columbia university of New York has 23950 students, and the tctal at all colleges is thought to be in excess of 10000
 As the notables from the orient and Europe arrive to attend the dis armament congress, hope of an agreement that will really make war remote possibility is revived de- spite dispatch from London an nouncing that , per cent was charged and paid at Lloyds to insure against war between the United States and Japan before December 3l, 1922. An ether policy written at Lloyds last week has attracted international at tention. It insures against the trans fer of any part of the British West Indies to the United States in pay ment or part payment of England's debt to our government on or before December 3l, 1922. For this indemnity 15 per cent was paid. and the rate would indicate that it Is not inn possible that the Bahamas, Bermuda, Jamaica and Nassau may soon come under the American flag,
 More Chaos in Europe
 In continental Europe conditions seem to grow more chaotic. German marks could be bought in New York last Thursday at 55 cents per 100, Some cigar stores are giving 50 marks instead of trading stamps with each box of cigars sold. The demand from this source will not, however, go very far in providing market for the SS,000, 100000 marks now outstanding, and as their worth lessness becomes understood in Ger many their demonstration will be certain. Just what will happen then no one can say, nor is 1t known whether the reparation payment due November 1 will be met There arc rumors that q postponement has been agreed to by the reparation commis- sion pending the arrangement for a German loan which the Rothschilds are said to be considering.
 The adventure of Charles Hapsburg in attempting to seize the Hungarian crown reads like chapter from one of Anthony Hopes stories. It has no economic significance except as it leaves the allies with another prob lem in deciding what to do with him. His gesture of suicide when he was captured has led some newspaper men to suggest that he could find em- ployment in the movie studios of California.
 Devalera is still talking. but is gradually making himself ridiculous even in the eyes of his fellow Sim Feiners. and it is unlikely that he can preevnt a settlement of the Irish problem a t the London conference. It is to be hoped that nothing will occur to keep Lloyd George from coming to Washington.
 May Aliay Unrest
 The Prince of Wales has started for India, where the religious and social unrest semes to be extending. It fs hoped his advent may allay it. Lenine admits that individualism is reascendent in Russia, and that trade is in consequence reviving. MT. La mont of the Morgan firm has returned from Mexico, but is silent as to the results of his trip. Inability to agree upon terms for the readjust- but this inference may be wrong.
  lie into their confidence.
 The situation in Cuba is improving as sugar Is being sold. An Ameri- can loan of from $5.000,0 900 to s50, coo. .000 Is persistently talked of. The smaller amount is said to be arr ranged for.
 Dollar securities are now being dealt In on the London stock ex- change. The dollar is gradually be- coming the money that continental shopkeepers prefer, and it may be that it will in time become the finan- cial esperanto of the world and so provide medium in which many of the economic problems that now trouble Europe may be resolved. Meantime growing supremacy of the dollar, plus the ineXhaustible re- sources of the country to which 1t Is indigenous, seem likely to insure our prosperity despite the perplexities of the old world and the clouds which are discernible overseas. It Is even thlnkable that the centripetal attrac- ton of the dollar may compel union for the preservation of the worlds peace, and if this is possible we should miss no opportunity so to use the power that it gives us.