The Birmingham age-herald., 1922-04-20

It will interest everybody, surprise many, to know that money all over the world Is cheaper than it has been for years.
 In New York. even at three and one-halt per cent. for call loans. the banks are unable to lend as much as they want to. In London money has been lent on call as low as one per cent. The low price of money may account for the recent increasing prices of stocks, to those that are in- terested in the cause of the increase.
 European cables indicate that Europe awoke in astonishment, dis may and anger to discover Russia and Germany combined in a treaty for trade and other purposes. It seems never to have occurred to the allies that the under dogs of war might combine. if they were sufficiently we'll kicked to make combination the only way.
 
 England and Italy have a total popu- iation of about 11s,ooo.ooo. Germany and Russia have population of 2oo,- 100000. In Germany and Russia popu- lations obey orders. They will fight If told to fight. There Is serious doubt in the minds of leading English men as to the response of England's population to an invitation to resume fighting on the continent, with more trenches, more tank, etc.
 They would all count, probably on getting three or four million mon from here and ten billions or so more money. There might be some slight doubt even about that.
 There need not be any fighting. And 1t would not come soon in any case. for war preparations would have to be made in Russia under German di- rections. That would take time.
 It Is only necessary for the allies. advised by Lloyd George. to realize that you cannot make permanent white slaves of 2oo,ooo.ooo people.
 Lloyd George has told the French that the amount of gold they demand from Germany is more than the United States itself could pay. a. though we have two-thirds of the worlds gold.
 
 The danger now is that Russians and Germans. observing how easy it is to upset the allied equilibrium. may begin building alliances toward the east with Turkey, and various peoples that the boishevists have been cul- tivatins in Asia, etc. With Russia for friend and ally, Germany's greatest problem, raw ma terial. is settled. In Russia she can get Iron, coal, oil and platinum. much mora valuable than gold. She can set copper in quantities unlimited. She has me: chanics and managers that know how to utilize these things.
 This news of the Russian German agreement is the biggest world news since the armistice. It means that the allies must content themselves with peace on the basis of that which Is possible-giving up dreams of the impossible. You may be sure there has been plain speaking by Eng lands representatives since the news came out The combination of Germany Rus sia and Turkey might mean Constan- tinople. the Dardanelles and later the Mediterranean, In the hands of Eng lands enemies, upsetting the careful diplomacy of centuries. Europe be- fore long may rue the Washington conference battleship scrapping. In 2 hours and 5e minutes of actual flying. Looming seaplane traveled from Palm Beach to New York city. l 1,210 miles. The express train takes five times as long. How long will it take express trains to poin the dis seesS Soeches inat Qucsuon is in teresting to owners of railroad stocks. But don't sell in hurry. John K. Grodi, of Toledo, Ohio, said: T bought three cotton handkerchiefs for 27 cents. They weighed less than two ounces. At that rate cotton would cost $2.1s a pound. Twelve hundred and fifty per cent what the farmer gets for 1s-cent cotton"
 Mir. Grodi thinks that there Is some- thing wrong when 1t costs twelve times as much to manufacture and sell the cotton as 1t does to plant it. cultivate it. fertilize 1t, pick it and market it. And he is rght