RUSSIA'S TRADE.

Auckland Star, Volume LXIII, Issue 98, 27 April 1932, Page 7

RUSSIA'S TRADE.

Big Adverse Balance Against

Britain.

OUTSTANDING DEBT,

(British Official Wireless.)

(Received 12.30 p.m.)

RUGBY, April 26.

In the House of Commons several questions were put regarding Russia. The President of the Board ox Trade, Mr. Walter Runciman, was asked if the Government would consider terminating the Russian trade agreement and entering upon a new agreement whereby Russian imports would be limited to an amount equivalent to that of British manufactured goods exported to Russia, the excess to be subject to 33J per cent duty, portion of which should go to a compensation fund for British creditors.

Mr. Runciman replied that the Government was considering securing a more satisfactory balance or trade between Britain and Soviet Russia, but did not consider that the claims of British creditors against Russia could be satisfactorily dealt with in such a way. He was impressed by the large preponderance of Russian business in Britain in return for the comparatively small business that Russia did with this country.

Major Elliott, Financial Secretary to the Treasury, said the amount owing by Russia to Britain was £1,000,480,000, and the amount of interest on the debt was £53,324,000.