RUSSIAN TRADE

Evening Post, Volume CI, Issue 92, 19 April 1921, Page 7

RUSSIAN TRADE

UNIMPORTANT IN VOLUME

NO CASH OR CREDIT

STATEMENT BY U.S. SEOR-WTARY

OF STATE.

(¥Nlfl» »MS ASSOCIATION.^CSPTRIfHf.)

(AUSinAUAJJ • NBW ZBAI.ASD CABLB ASSOCIATION.) WASHINGTON, 17th April.

Mr. C. Hwgh« (Secretary of State), replying to the request of Mr- S. Gompers (president, of the American Federation of Labour) for information regardlug the trade potentialities of Russia, pointed out that, although the embargoes on Buesia had been long cancelled, and ■Russia was able freely to enter into trade with Europe and, America, the Vphiroe pf sucih commerce had bean Unimportant, dive to Russia's inability to pay for imports. The ilolshevik Commissary of Foreign Trade had placed 4 orders totalling 6500 million dollars in Europe, the United States, and Asia,, but the shipments had been negligible, because the Bolsheviks wer« unable to pay cash, or obtain credit. The Boleh«----vifis bad not more than 17§ million dollars of gold in their possession, and the expenditure of this amount would not have a pronounced effect on American) trade and industry, but would rob R.uasia pf the hope of ever soundly reorganising its system of finance and currency.