The Washington times., 1922-07-09

built. cars and trucks renewed.
Factories and mines must be re-
opened. the machines substituted
that no LONGER serve. In the
cities the diiapidated houses must
be restored. the beasts and the
machines which were destroyed
or dispersed must be refurnished
to the farmers. the state and the
banks must be provided with
metal coinage: IN short. Il is need
fui to put In order again at once
both industry, agriculture. credit
and commercs.
This 10 the Russian problem.
How can II be solved7 Only In
two ways. Either by foreign
loans or by Russian capital ana
labor. II might be assumed that
those nations who have railroad
material. machines. cattle. raw
materials. gold and silver IN
abundance would lend them to
Russia to replace what war has
destroyed. But II this supposi-
ton u not fulfilled. II there are
not people who possess this cap
itai. or II those who do possess It
win not lend, Russia can only
hope for salvation from her own
capital and her own labor. II she
can ccllate and employ wisely all
the instruments OF labor she slill
owns. works hard. and consumes
little for her needs and pleasures.
saving all she possibly can from
her requirements 70 manufacture
new instruments Of production.
Russia might. little by little. re-
cover.
OF these two alternatives the
first has this advantage over the
second: It requires less time. Rus
sia has few reserves OF capital.
vecauss the war and the revolu-
tion have destroyed 20 much. On
The other hand. she has crying
needs. II she would build up.
little by little. unaidsd. the in
struments Of her revival. II
would require. on the most favor
able hypothesis. several genera
tons, while II she could find who
would lend to her these aids. the
time Of reconstruction would be
much shortened. Ten years might
accomplish the work Of half .
century. Capital In only labor.
hencS concentrated time.
LOANS IMPOSSIBLE.
The solution Of the Russian
problem. which the great Eu-
ropean powers sought for at
Genoa was the first named and
the quickest. For the second So
luton there was no need for con-
fsrences or congresses. Russia
alone sufficed with the sole aid
OF time. which 10 equally At the
disposal Of al peopiea- But the
first solution. which the European
states desired, because 1t con-
formed to their interests. 10 i'm
possible. It would require enor-, &,
nous credits. ranning into mil
hards, and these credits no one
can or viii give to Russia
The insoluble knot Of the Rus
sian problem at Genoa was just
this: Credits. And this win re-
main the insolubie knot Of the
Russian problem at The Hague.
The rancors left by the war. the
rivalry Of the victorious and con-
auered powers. the reactionsry
spirit Of western capitalism. these
and the other explanations a.
sumed by Socialists are fantastic
and chimerical.
The real reason is Tar simpler.
The powers could not today. nor
can they tomorrow, come to terms
with Russia because II is not pos
sibls to grant credit running into
milliards to . bankrupt state. to
q government whose future II un-
certain, who does not recognize
private property. and who. in the
very act of asking for loans.
affirms that . revolution absolves
. state from the need to main
tain the obligations Of the pre-
ceding government II the Eu-
ropean creditors accepted this
principle, in what position would
they find themselves, say ten
years hence. in face Of a new
government that had by . revo-
luton overturned the sovietf
1t IN useless to assemble con.
ferences and commissions. The
time when Russia raked in Eu.
ropean savings In over for many
a long day. probably for several
generations. The Soviets could
seat themselves upon the throne
of the Czars, but cannot take
the place Of the Carbon In the
confidence of Western capitalism.
They must administer the vast