The Washington times., 1924-07-12

Great Britain, where James Ramsey
Mcdonald. as a labor party prime
minister, has been in office for
months without the slightest tremor
in the old structure of British bust
ness life.
These considerations are beginning
SLOWLY to calm down whatever hys.
terra there has been in American
business circles about any impend-
Ing engulfing era of radicalism.
Business Less Pessimistic.
Business men are also less pessi-
mistic than they were a few weeks
ago about business itself.
The reviving staunchness Of the
stock market has encouraged them
to anticipate some revival of
strength in the production Of com
modities.
The farmers begin to hope that
the prices of staple farm products
will progress upward.
There are several tendencies in
that direction, and the best expert
opinion now is that those tenden-
cies will continue.
Europe and the Orient also look
better. In fact, one of the few rea-
sons for fearing any real immediate
increased difficulty in American
business is that Europe and the
Orient look, and are, almost too
good
Certain numerous Oriental textile
mills haze been importing the best
and latest spinning and weaving ma
chinery from the lands of the white
man.
simultaneously the textile mills
of Europe are reviving sufficiently
to send cloth into South America
in large enough quantities to take
considerable trade away from the
textile mills of the United States.
A survey of the general world
business situation, through CONVEX
sations with the best informed bus
mess men in American centers in
touch with foreign developments,
shows clearly that no American
commercial and political prospect
is surer than the following:
Our statesmen in the next ad.
ministratiOn, if present foreign de-
velOpments continue, will not be
spending their time wondering
how to rescue the Europeans
from their woes.
They will be spending their
time wondering how to help
American business men to ad.
just themselves to the increasing
productive and competitive capac-
ity of the Europeans.
1t will be a task at a higher
level Of world welfare. Mr.. H. G.
Wells and all the other prophets
of world collapse have been falsi-
fled and foiled.
The human race, sticking like
lmpet to the rock of time, has
proved that it can survive even the
efforts of our best writer's TO talk
it into falling off.
Our modern means of communica-
ton by post and wire and etror
are marvellous.
Unfortunately they transmit fool
ishness and hysteria just as rap
idly as they transmit sobriety and
persistence.
Dreams of Chaos Fade.
Within the observation of this
writer in many parts of the United
States, sobriety and persistence are
now again beginning to have their
day.
If dreams of a world millennium
have faded, so also have nightmares
Of world chaos.
The United States thereupon with
a sigh of relief turns back a bit
more upon itself. The Democrats
in their New York convention were
in this writer's observation and
judgment-quite earnest and quite
las we say idealistic. They would
have voted-this writer believes-to
join the League of Nations at once
and straight off if they had seen
any real crisis in world affairs.
The point was that they could not
see it. They voted accordingly not
to go into the League of Nations
till after they had gone through all
tile delaying details and dubious
chances of a referendum upon it.
No clearer proof could have been
offered of the decline of world
among us.
National internal anxiety Is also
declining.
Compared With 1896.
Common sense among business
men begins to compare this election
with the election of 1896.
Now we have a La Toilette move
ment which is an independent or
third party movement and which
cannot possibly conquer the legisla-
tive branch of the Government and
which proposes-as its most adj
vanced idea--the Government own
NJ q dol. H..