Middletown transcript., 1922-05-13
TERMS FROWNED
UPON BY RUSSIANS
Absence Of Recognition and
Government Loan Resented
FRANCE IS WITH BELGIUM
Finances Taken Up-All Leaders Ex.
press Satisfaction At PIenary
Session Of Genoa Con-
ference.

Genoa.-The Russians are mot de-
lighted" with the project of the Pow
ers for the reconstruction of Russia.
Such is the brief summary emanating
from Soviet sources Of the Bolshevik
views on the memorandum 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.
Belgium has not signed the memo
randum and word was received here
that France had determined to stand
by Belgium, but as yet there is no Off
cial announcement in Genoa OF
Frances action. 1t is believed that
the conversations between Premier
Poincare and M. Barthou, however,
Will have an important general effect
on the Conference.
All the leaders expressed satisfac-
tion, believing that 1t embodied the in
auguration of far-reaching efforts to
improve the finances of Europe. The
financial code at Genoa has been writ.
ten, declared Sir Laming Worthington-
Evans, chairman of the Financial Com.
mission, and he believed it would
prove as important as the historic JUS
tinian Civil code, the basis of world
jurisprudence.
The essential points are 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 prob.
lens without involving itself in polit-
ical difficulties and could help Europe
as we'll as herself.
The other speakers at the session
were Signor Schanzer, of Italy, M.
Schulthess, Of Switzerland, M. Picard,
OF France; M. Tchitcherin, of Russia,
and DR.. Rathenau, of Germany. M.
Tchitcherin alluded to the rights of
communism and declared that It
was impossible for the Russian Gov.
ernment to renounce its control over
exchange operations, despite the fact
that the financial report characterized
this control as mischievous.
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.
M. Tchitcherin insisted on Government
loans, and in this indorsed the views
of M, Rakovsky. who had publicly de-
clared that the Soviet as the Russian
Government expected a loan from the
Powers.
In conclusion M. Tchitcherin voiced
the conviction that 1t was only by eco
nomic collaboration of two worlds
whose policy is based ON different eco.
nomic 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
energetic efficacious and immediate CO.
operation with respect to economic
and social needs Of great urgency. He
voiced warning that 100000 peo-
pie were without work and something
must be done for them.