Show THI washington D C february the united states of america Is being run today by the nearest approach in our history to a coalition government the leaders on both sides ot of the po political bitica fence have burled buried the hatchet in the to taco cc ot of the existing national emergency and are doing better team work on all questions not involving partisan policy than has bus been witnessed in washington in many years As a matter 0 of f practice the really important affairs ot of the nation are arc almost always the result of 0 compromises A washington visitor who recently saw ex president coolidge at his massachusetts home quotes him as saying baying that in effect we always have a coalition government in washington nobody ever gets lust just exactly what he be wants but each side has to take th the a best that the other side will let it have said eald mr coolidge 0 in the case ot of the reconstruction finance fina a nee corporation bill and the amendment to the federal reserve act designed to loosen up credit for or the banks which la in turn means easier credits tor for business there has been so little disagreement in and out ot of comm committee atee that some soma ot of the political forecasters who lights fights lor for these and n 0 other t h tex remedial measures have been discredited 4 re d 1 d as prophets A lot ot of damoc alc tlc is congressmen a and nd senators who came to washington breathing fire and ing their purpose to oppose anything which the republican administration wanted have been shown an inside view ot of the nat nations lons actual economic emergency and after learning all the facts and their possible consequences they have gone back to capitol capital hill and voted tor for the rehabilitation measure without a whimper that Is not saying that mr hoover and the republicans are going to have everything their own way on matters which are not ot of the most vital immell ate concern to the nations welfare the democratic leaders are not going to let the republicans get away with anything that would in make ake good campaign material if they can help it the republicans are going to have a great deal ol of difficulty in claiming sole credit for pulling the nation out of an economic hole when the presidential campaign opens the democrats will mill be right there on the job ob pointing out that it if it had not been for their leadership in congress these there things could not have been enacted and when it comes down to questions on which there Is a definite partisan difference of opinion and there aie plenty of those we me may see some fireworks 0 0 one of the things which Is likely to make a lot of stir after the financial bills are out 0 of the way is the question ol of philippine independence that Is almost entirely a partisan question the democratic party has for years been committed to philippine independence and the republican party has been opposed to it A bill giving the filipinos their independence will be debated in congress and quite possibly passed that not seem certain belore before pat hurley see sec of nf war aTO eared before a committee find and spoke in opposition to philippine independence that placed the administration definitely on record and gives th the e democrats something to shoot at and when they begin shooting they will have baa e all their heavy artillery in ac 1 tion the best guess that anybody here can make now Is that a philippine in dependence bill will pass pledging the united tinned stated to independence in not less than ten tell years and that mr hoover will leel feel it necessary to back up his secretary of war and veto the bill whether then it could be passed over presidential veto Is another question the amendments to the federal re serve act hold promise of even greater relief to the nations financial situation than the reconstruction finance corporation po ration it Is going to take a good many weeks before the good effects of the reconstruction construction n act will be generally felt feltl but there Is immediate relief relict in sight tor for banking credits in the measure which permits the federal reserve to make loans loam to groups of banks which authorizes federal reserve loans on sound paper which has not been eligible tor for rediscount and the use of 0 government bonds as collateral tor for federal reserve notes the effect ot of this change in the ane federal reserve system bankers and economists say and politicians agree will j increase the supply ot of tree free gold in the federal reserve system perform its proper pe r function as a basis for currency I 1 la I 1 other words it Is tile the expect expectation ci at I 1 on that almost immediately bankers agel are going t to 0 find themselves in a position or itlo to extend credit to sound bil business iness enor I 1 mer merchants c hants an and d manufacturers which aich they have been obliged for the thel I 1 last year or more to withhold and the I 1 feeling h here ere Is that there Is an cnorr i I 1 1 ous oua nu number in ber of business enterprises ready to ren renew ew 0 operations pe rations at full speed P T I 1 ahead as soon as they can be ahsu assured red ot of necessary bank credits it Is also expected that commodity P prices rice 9 mill bill continue to rise and that as F bosn 0 as this tendency Is definite buyers yn ot farm products especially wheat and cotton are likely to come into the market and so the farmers will get a direct be benefit befit as well as finding it easier 2 ale r to su raise money for purchases 0 ot f such h c commodities modi ties as they require one important held field in which constructive ti ve legislation Is looked for from this coalition government relates to railroads it seems reasonably certain that there ther will be amend amendments in ants to the commerce law which will give the railroads a chance not only to make money but to keep it in their own reserves in |