RUSSIA’S ONE-SIDED TRADE.

Manawatu Standard, Volume LII, Issue 52, 1 February 1932, Page 8

RUSSIA’S ONE-SIDED TRADE.

Sir Benjamin Morgan, writing some weeks ago in the London Daily Telegraph, says:— “The Westminster Council lias set every Corporation in this country an excellent example by requiring those tendering for the supply of petrol to sign a declaration that tne petrol is not of Russian Soviet origin. . “It is earnestly to be hoped that other public bodies will follow Westminster’s lead in respect of tenders of every description. "Corporations and other public or semi-public bodies are large consumers of all the kinds of ■goods Russia is dumping here (London) at tho present time. It would obviously be an excellent move if contractors for the supply of bread had to declare that no flour made from Russian wheat was being used in such bread; and that similar assurances should be demanded in regard to butter and all other commodities.

“It is bad enough in any circumstances to deal with a country which has robbed British investors of tens of millions. But, even if we could overlook that for the moment (in the hope of a settlement at some future date), the fact remain? that our trade with Russia is exceedingly one-sided. “Last year, while we actually imported goods from that country to a value of £29,600,000, Russia found it necessary to buy from us_ only £8,000,000 worth—showing a visible trnde balance in Great Britain’s disfavour of over £20,000,000! And yet some people have the .temerity to urge that we should extend large credits to the Soviets to enable them to buy our manufactures by. paying us with our money. That anyone should make so ridiculous a proposal is almost incredible, seeing that last year Russia calmly transferred over £20 ; 000,000 worth of credit elsewhere—which she might at least have spent, on our manufactures—to lubricate the wheels of industry arid to provide employment presumably in the foreign countries which are our greatest competitors. “Anything wo buy from Russia under these circumstances is dear to this nation at any price—even if they throw in occasionally some entomological curiosities.”