TRADE WITH RUSSIA

Manawatu Standard, Volume LII, Issue 120, 21 April 1932, Page 7

TRADE WITH RUSSIA

BRITAIN’S POLICY.

DEBATE IN THE HOUSE OF LORDS

VISCOUNT SNOAVDEN’S STATE-

MENT.

(United Press Association.—By Electric Telegraph.—Copyright.) Received April 21, 11.55 a.m. LONDON, April 20.

In the House of Lords, Viscount Snowden, replying to the debate raised by Lord Lloyd on the Government s trade policy with Russia, said that generally tho Government was not satisfied with the disparity between the imports and exports of Russian trade, and had made representations to the Soviet Government and had insisted as far as it could that steps should be taken to lessen it. The present Government had decided in the interests of trade and industry that the Credits Advisory Committee should give no further guarantee tor credits for trade with Russia for more than twelve months without attaching rnoro stringent conditions than in the past. Negotiations regarding the extent of the credits to be given were in progress, and the policy of guarantee would only be continued in the interests of British industries. So tar not a penny had been lost on any of these credits. The Government, was well aware of the risks of heavy credits for the Russian trade, and would not involve itself in liabilities unless reasonably assured that there would be no loss. TRADE AVITH FRIENDS FIRST. Lord Phillipmore said that by entering into trade relations with Russia regarding wheat and other primary products we had thrown out of gear the whole of Canada’s and the Argentine’s importing machinery. We were looking to Ottawa for an Imperial policy under which we would trade with friends first and foes afterwards. Lord Lovat said that Britain was buying half of Russia’s exports of timber, yet getting the worst terms in Europe. It would be impossible to arrange at Ottawa for the development of Empire trade as long as tlie present trading relations with Russia continued. Lord Newton said that Britain was like a man who knowing perfectly well that a burglar is preparing to rob him advances him loans to enable him to buy the implements with which to commit tho burglary.