RUSSIA’S CREDIT

Nelson Evening Mail, Volume LXVI, 10 January 1936, Page 5

RUSSIA’S CREDIT

HIGH AMONG NATIONS THREE COUNTRIES SEEK TRADE BRITAIN. CONSIDERING LOAN (United Press Association—By Electric Telegraph—Copy right) LONDON, 9th January. “The Chronicle” understands that the British Government is considering a proposal for a £20,000,000 loan to Russia to stimulate trade between England and Russia. The Soviet is at present negotiating with France for credits amounting to £13,000,000, which the French Government is willing to grant, but it is believed that the banks are holding aloof. Germany is also angling for Russian trade despite her animosity towards the Soviet regime, and is known to be willing to' give credits on most generous terms. Russia is now the second largest gold producing country in the world, and the present willingness of the three coun» tries to provide trading facilities is a measure of the great improvement that has occurred in Russia’s credit. A NEW~ iM RUSSIAN MARKET RE OPENED TO MANY COMMODITIES (Received 10th January, 12.20 p.m.) MOSCOW, 9th January. The indicat'ons are that. Russian belts will no longer need to be tightened as during the lean years \vhen huge supplies' of foodstuffs were exported in order to obtain foreign exchange for payment on imported machinery. Big cargoes received in the past fortnight are cited as being the beginning of , a new era. They include fifteen thousand barrels of Dutch herrings, forty tons of Guatemala coffee, fifty tons of Ceylon tea, and twenty-five thousand cases of Java oranges. It is explained that imports of raw materials, semi-finished products and consumers’ goods will now largely replace former imports of machines and tools. The improving economic position will re-open the Russian market to many commodities.