SOP TO SOVIET.

Manawatu Standard, Volume XLIV, Issue 1075, 23 July 1924, Page 12

SOP TO SOVIET.

BRITISH LABOUR OFFERS CZARIST FUNDS. FOLLY OF HELP. LONDON, July 12. “The best thing that can happen to Russia is to he refused any financial aid. Then the Communists will he iorced to admmit their failure, and some hope will arise for the return of the ordinary commercial morality of tho Western World. This, says The Times, is the opinion of British business men who have just returned from Russia after examining the tiiftle prospects on the spot. They declare that until the principle of private ownership is definitely re-establish-ed it is idle to talk of re-opening trade with Russia. In order to save the face of the Russian delegation (which has been negotiating in London for a settle- j ment of the outstanding questions he- j tween Britain and Russia), and to I prevent the conference from proving entirely fruitless, the British Government is allowing the Soviet to claim moneys belonging to tho Czarist Government deposited in English banks, including the Bank of England, says Tho Star. These moneys were mainly recovered from British debtors of the Czarist Government. The Soviet will also be allowed to claim moneys in British banks standing to the credit of Russian firms whose businesses were nationalised hv the Soviet. The total from all sources is estimated at £10,000,000.

British holders of Czarist bonds have not been consulted, and they will doubtless feel that Czarist funds should be applied to the liquidation of their claims.