New-York tribune., 1921-04-18
Russia Holds
No Trade Lure.
Hughes Asserts
Continued from first pase)

Sussia were removed by the United
States on July 8, 1920. The conclusion
OF treaties of peace with the Baltic
states enabled Russia freely to enter
upon trade with Europe and the United
states. Both American and Euronean
goods have been sold to Russia. bnt
the volume of trade has been unim-
portant, due to the inability of Russia
to pay for imports.
Huge Orders Are Untitled
1T is true that agents purportine
to be representatives of the so-called
Bolshevik Commissariat of FOREIGN
trade have placed immense orders for
the purchase of goods in the United
States, Europe and Asia. 1t is esti-
mated that perhaps six and oue-haf
billion dollars worth of orders have
been booked. But shipments, as a re-
suit of these orders have been made
only in small volume because the
Soviet agents were unable either to
pay cash Or to obtain credit so as to
insure the delivery of the goods or
dered."
In reality, Secretary Hughes saws
transfers of Russian gold to other
countries have been small. and at The
most liberal estimates the Soviets have
not more than S175,0O 900 of gold in
their possession. Even the Immediate
expenditure of the whole amount in
the United States, he points out. would
nave no pronounced OR lasting effect
on American trade or industry, and it
might take away the scant hope that
Is ieft OF sound reorganization of the
russian system of currency and
finauce."
There have been since December 18.
l92o. Secretary Hughes informs Mr..
Gompers, no restrictions on financial
transactions between the United States
and Russia, although there is no as
surance that the mint or the Reserve
banks will accept Russian gold, as pub
he institutions must be assured that
title is not open to question.
The facts" in regard to supplies in
Russia available for export, Mr.
ftughes wrote, Completely refute'
recognized the Soviets, Russia inn.
mediately would export large quanti.
ties of lumber, fax, hemp, fur anc
other commodities.
THE facts" he says, show that Rus
sia does not have on hand for ex
port commodities which might be mad,
the basis of Immediately proftabl,
trade with the United States, and h,
adds that the Russian TRANSPORTATION
not move them if they existed.
Production at Low Ebb
Mr.. Hughes quotes an official orga,
of the Soviet government to show tha
lumber production in 1920 was one
fifth of the pre-war level, although tn
industry was in better circumstance
than others, A table shows the outpu
of eight principal exporting commodi
ties at from IL to 58 per cent of wha
was expected.
Furthermore, Secretary Huehe
points out, before the war America
trade. with Russia in both direction
constituted only 1 $40 per cent O
all the foreign trade of the Unite,
States, being in the year ended Jun
80, 1913. at a total of $4,000, 600 fo
both exports and imports while fo
the calendar year 1920 it was S13.
100000, and practically all of that wa
II with territories free of Soviet domino
ton.
1T is unquestionably desirable,
wrote Mr.. Hughes to Mr.. Gompers
that intimate and mutually profitabl
commercial relations on an extensiy.
scale be established between the United
States and Russia, and it is the sin
cere hope of this government tina
there may be readjustments in Russi
which will make it possible for tha
country to resume it's proper place il
the economic life of the world"