FIVE-YEAR PLAN FAILURE
LOSS ON SOVIET PETROL FOREIGN CREDITS ENDED WHEAT GAMBLE USELESS DISSIPATION OF A DREAM By Telegraph—Press Assn. —Copyright. Rec. S.lO p.m. London, April 18. The Daily Express says that after years of endeavour Russia’s foreign oil depots are likely to be closed. Russian petrol is now selling at a loss of 2d a gallon, and world production gives no promise of a substantial rise in price.
For a long time tho Soviet Government believed that with confiscated oil wells free of the incubus of capitalistic ownership it could undersell the oil companies of the world and thereby raise much needed funds abroad. The scheme was successful for a while, but over-production ended foreign credits.
The Daily Express is of opinion that as the wheat gamble has also failed the Five Year Plan may be regarded as a failure.
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Taranaki Daily News, 19 April 1932, Page 7
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141FIVE-YEAR PLAN FAILURE Taranaki Daily News, 19 April 1932, Page 7
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