TRADE WITH SOVIET

Poverty Bay Herald, Volume LV, Issue 16914, 1 April 1929, Page 11

TRADE WITH SOVIET

THE KEW DELEGATION

PKOPOSALS Fob. IT. ' Th« tejpeeted arrix-aJ next month of a large party at British industrialists exeites mneh interest and sjvealation 'hero, although little ntoro is known s«* the precise plans and objectives of the delegation than hn.s nlncady appeared in the British press. One opinion regarding the delegation in iSoviot political nntl economic circles. (The fear is sovaotinnss expressed that the sending of the driegations is sotocthing in WW natnre of a pre-election manoawvw designed to Hto Government of the chnrgie of inactivity c»n the qnrstion of developing Rnssian trade. i*osne eomment is more optimistio, howe\t»r, and unquestionably any practical proposals looking towards" an economic ntppreehement between the two wwmtries wowbi re leeive most cordial and serioos consideration hert\ The Soviet Government I«hs adopt e*l an extremely srebitsOKs tfwwramme of industrial development, which calls for More than a doubling of the prescrst volume of output within five years, with especially an intensive increase in jbc metal and chemical industries. It is already evident that this plan will place a heavv strain upon the internal resonrees «t the country, and longterm foreign credits would doubtless facilitate its execution. "Kegatding guarantees for the repayment of s«ch credits, should British financiers evince any tendency to grant them, it is my personal intpwsskM th;.» the Soviet economic authorities, while rejecting any material pledges or arrangements contravening Soviet soA-ereignty, would be o,u»te willing to work out plans for the productive application of credits in such i fashion as to ensure the doyeropment of the exports, hence Providing funds for interest and retironwnt charges..