KRASSIN LEAVES FORTUNE OF £3,000,000

Star (Christchurch), Issue 18014, 26 November 1926, Page 8

KRASSIN LEAVES FORTUNE OF £3,000,000

WAS ECONOMIC DICTATOR OF SOVIET.

By Telegraph.—Press Assn.—Copyright. Aus. and N.Z. Cable Association.

LONDON, November 24. 'I he Riga correspondent of the “Daily Telegraph” says that according to information from Moscow M. Krassin left a fortune of about £3,000.000 in European banks, which his wife and daughters will inherit.

Most probable his successor in London will be M. Litvinoff.

Leonid Borisovitoh Krassin was born at Kourgansk, Eastern Siberia, in IS7O, as the son of a Russian police official. lie took up the study of electrical engineering at the Technical College, Petrogard. Even during his student days he took part in politics. He was banished to Siberia for several years. In Geneva he met Lenin and be-

came one of his adherents. After Lenin carried the day in 1917 Krassin for a time held aloof. He had sent his family out of Russia so that they should be spared the terrible experiences that were evidently impending, but when it was clear that the Bolsheviks had consolidated their power he decided on active co-operation-. His wide business experience had shown him that the

Soviet economic policy was tmworkable and he sided with Lenin in urging its adaptation to practical requirements. He also favoured the resumption of relations with foreign Powers. I'or these reasons he was regarded as unorthodox and despite his knowledge and ability he never became a leader among the Bolsheviks.

11 is views won the day and in the spring of 1920 he -was sent by Lenin to Western Europe to undertake trade negotiations, visiting London, Berlin, Rome, etc., but without power to make agreements. He then became a sort of economic dictator. Under Lis influence reforms were carried out with the object of reviving trade and industry, prolongation of working hours, introduction of compulsory labour and of the Taylor and premium

systems, creation of labour armies, and the like. Later he was appointed controller of Russia’s foreign trade. In March. 1921, he signed a commercial treaty with Britain and remained in London as Soviet representative till July, 1924. by which time he had begun negotiations with MacDonald’s Labour Government for the de lure recognition of the Soviet. The actual treaty, however, was made by his successor M. Rakovsky. In November, 1924. after the Herriot Government had resumed diplomatic relations with Russia, came the selection of Krassin as Ambassador in Paris.

In connection with the action taken against Trotsky, however. Krassin returned to Moscow in January, 1925, to consult with the deposed War Commissary, of whom he was one of the most devoted adherents, and to discuss reforms in the foreign trade policy of the Soviet. On October 30, 1925. Rakovsky was appointed ambassador in Paris and Krassin charge d'affaires in London. the idea being that he should take up his duties there as soon as the Soviet commission on trade reorganisation had completed its labours. Krassin returned to France, but he was reported to be seriously ill and did not then proceed to London. Instead he went to the South of France and in in April. 1926, he was taken to a hospital at Nice where the operation of transfusion of blood was performed.