The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-05-04
NOT DEL LIGHTED WITH
RECONSTRUCTION OF RUSSIA
Project as Suggested by Powers
Does Not Mention RecOgni-
tiOn of Government.
(sy The Associated Press)

GENOA, May 3-The Soviet pleni-
pottentiaries are mot delighted" with
the project of the powers for the re-
construction of Russia. Such is the
brief summary emanating from Soviet
sources of the Bolshevik views on the
memorandum of on which Europe's
statesmen have worked so laboriously
The fact that the document does not
mention recognition of the Soviet gov
ernment and ignores the suggestion of
governmental loans is said to displease
the communist leaders who are now
comforting with Moscow. The memo
randum was delivered to them only at
four o'clock this morning, after corps
OF secretaries had worked all night
putting it into official shape. It was
rushed to Santa Margherita by auto
mobile and delivered to NJ. Rakovsky,
who received it dressed in his pa
jamas.
Belgium has not signed the memoir
andun, and word was received here
this evening that France had determ-
ined to stand by Belgium, but as yet
there is no official announcement in
Genoa of Frances action. It is be-
lieved the conversations between Pre-
nier Poincare and. Mr.. Barthou, how
ever, will have an important general
effect on the conference.
All the leaders expressed satisfac-
tion at today's plenary session, be-
lieving that it embodied the inaugu-
ration Of far reaching efforts to i'm
prove the finances of Europe. The
financial code at the conference has
been written, declared Sir Laminug
Worthington Evans, chairman of the
financial commission, and he believed
it would prove as important as the
historic Justinian civil code, the basis
of world jurisprudence.
The essential points ere Limitation
of the issue of paper money, fixing
parity with gold, economizing in the
use of gold and coordination of gold.
The United States, said the chairman,
with almost half the worlds gold could
join in the future study of the problems
without involving itself in political
difficulties and could help Europe as
well as herself
At the session NJ Tchitcherin, of
Russia, alluded to the rights of com
munism and declared that it was i'm
possible for the Russian government
to renounce it's control over exchange
operations, despite the fact that the
financial report characterized this con-
troll as mischevious.
The financial report, like the memo
randum of the powers to the Russians
emphasizes that assistance to disor-
ganized countries should take the form
of private. not governmental credits.
NJ. Tchitcherin insisted on govern
ment loans and in this endorsed the
views of NJ Rakovsky, who had pub
licly declared that the Soviet as the
Russian government, expected a loan
from the powers.
In conclusion, NJ. Tchitcherin voiced
the conviction that it was only by eco
nonnic systems, that mankind could
move towards reconstruction and
peace.
DR.. Rathenau declared that from the
Genoa conference the world not only
expected theses and theories but hoped
that the representatives of the great
nations would give evidence of ener-
getic. efficacious and immediate CO.
operation with respect to economic and
social needs of great urgency, He
voiced warning that ten million peo-
pie were without work and something
must be done for them.