New-York tribune., 1922-10-30
Politics Lends
Confusion to
British Market
Business Interests Will Wei
come Coming General
Election as am End to
the State of Uncertainty
Exchanges Are Unsettled
Reparations Policy NOT Ex-
pected To BE Far Differ
ent From Lloyd Georges
From The Trib,iae's Furopean Bwreaw
Copyrighf 1927 Newt York Trihnn, In.

Copyright. 1929, New York Tribune Inc.
LONDON, Oct. 29.-With the politi-
cal situation sadly confused and inter
national complications increasing the
market has been in state OF great
uncertainty during the last week. The
fact that Mckenna, a former Liberal
minister, supported the Bonar Law
Ministry and that men like Birkenhead
Balfour and Chamberlain are advising
she country that it's salvation depends
upon Lloyd George are calculated to
puzzle the minds Of every one. The
next three weeks will prove a trying
period, and business interests will be
glad when the election is over, for
there is nothing more disturbing than
uncertainty
On top Of all the excitement incident
TO the election there Is the threatening
situation in Italy, e crisis Of more than
ordinary alarm in Germany and the
conference on Near Eastern affairs
scheduled to meet at Lausanne on No
venaber 13. Thus Europe is in n pro-
foundly unsettled state, and there is
small wonder that the exchanges have
been refecting the state of uneasiness
Not only did exchange move adversely
against France, but also French GOV
eminent bonds showed marked weak
ness.
The italian Ira deprecated greatly.
but the reason is not difficult to find, as
the Fascist have been making threats
for weeks and the strength OF this or
ganlZation is we'll known and not likely
to be underrated.
With the announcement Of the visit
of the Reparations Commission to Ber-
lin the mark became little steadier
after a period of wide fuctuation.
Bonar Law has been greeted in
France as warm friend of the coun-
try, but Frenchmen will be doomed to
disappointment if they bank too heav-
lily on a change in government. The
fact is that Bonar Law and the mem
bers of his government are committed
up to their necks and their policy in
handling reparations cannot be far diff
ferent from that of Lloyd George. Not
only that but fundamental questions
enter the problem, and it is Impossible
to alter them even with change of
government.
If there is any cause of optimism
in Paris IL must be based on the
change in atmosphere brought about
by change in personalities. Law and
poincare should meet each other under
more favorable conditions than did
LlUyU george aHIlQ VIC EISHCh
Law is 81 ard-headed Scotsman, who is
straightforward, dogged and reason
able. Lloyd George worried Poincare
by his flood of words. That Welsh
man should outtalk Frenchman
seems bit odd, but then Lloyd George
is genius.
Bonar Laws government is composed
largely Of peers who have large inter
ests. and when the Premier speaks of
tranquility lie is simply rejecting the
views Of business men throughout the
country. An improvement IN trade,
which necessarily means reduction N
unemployment, is the chief objective
of the new government. An agreement
with Russia on. comprehensive basis
is matter Of only short time. The
Conservatives are naturally imperial
lists and it is logical step to attempt
to increase trade within the empire.
Bonar Law inherits load of liabilities
which must handicap his progress, and
any quick advances are out of the CUES
ton.