A Bolslievik Bubble

NZ Truth, Issue 946, 12 January 1924, Page 1

A Bolslievik Bubble

"Truth" has already referred to the Russian loan, by which It Is proposed to extract £ 200,000 from the hip pocket of the Australian worker, or anyone else who wants to put money out at 5 per cent. The bloated capitalist is not barred tfow when ft la r^^pJiStloir of stabilising the Russian industries he ran m the days before the Soviet smashed them. We should have thought the Soviet would have turned him away haughtily. Although the loan is repayable m ten years the prospects of investors receiving back eith«r principal ' or interest are bo remote that they are not worth discussing. Perhaps there is a trace of irony m the generosity of the unions who have Informed Mr. Baddeley that they want no interest. If they want the principal they had better not part with it. As security the Soviet offers "certain I large estates" m Russlf-^he owners of which are Absent -somewhere without leave': "These estates are quite as. good security -as . 'castles ,ln Spain', ' comments an Australian , . newspaper. Mr. Baddeley has gone as far as, to warn the Labor Council that the lenders should not be encouraged to expect interest. And not expecting, they will not bo disappointed* V