France is officially at peace. Both the French Chamber of Deputies and the France Senate have ratified the treaty. The British Empire's ratification is waiting on the action of Australia, which member, according to all available reports will sign very soon. The United States .... What is the United States doing? Close perusal or reams and reams of congressional; Records fails to show that the United States is doing anything. The treaty will shortly be in effect, with the United States left out in the clod, unwarmed by anything but senatorial hot air. For surely, if this country delays action much longer, the other powers cannot help regarding us with suspicion. What, then, of our prominent trade expansion? Trade come not easily to those who do not inspire confidence and who are late in the field besides. The loud-sounding phrases and round periods of our senators will fall rather flat at the sight of England, France and Italy "gobbling up" the world trade that was to have been ours.