The New York herald., 1922-07-01
REDS ASK CREDITS
OF S1,626,OOO,OOO
Litvinoff Names Minimum
Sum for Purchases to Be
Made Abroad.
WILL SELL CONCESSIONS
Soviet Expects Foreign Capt.
tai to Develop Oil and
Mine Resources.
By JOHN McH. STUART.

BY JOHN NIGH. STUART.
Special Gable to THE New York HERALD
Copyright, 1929, by THE New YORK HERALD.
THE HAGUE. June 30.--One billion
625 million dollars in credits represents
the price at which The Hague confer
ence may go on.
Maxim Litvinoff submitted that
amount to-day as 7Russia's minimum
need to the sub-commission on credits.
He coolly announced that every country
present wanted to get something from
Russia, but could not unless Russia were
first reestablished. Three and quarter
billion rubles gold, he declared. was tho
first step toward reestablishment- At
the pre-war value Of the gold ruble this
is equal to s1625, ,000,O00
At the same time the trend Of the
Russian. or the Soviet, mind was indi-
Gated in a circular letter sent to the
members of the sub-commission on
debts. 1t demanded precise information
as to the race, color and previous condi-
ton of servitude of every holder of Rus
sian bonds throughout the world.
Embodied in the letter was a ques-
tionnaire which, Litvinoff asked should
be sent to each individual claimant. 1t
asks how the Russian securities were
acquired, whether by Inheritance. pur-
chase or otherwise; whether the holder
was Russian citizen at the time OF
acquisition. whether he has changed his
citizenship since, and what is his pres
ent social and financial status. The
QUESTIONABLE is regarded as plain ef-
fort on the part of the Russians to sep
arate the bourgeois goats from the pro-
letarian sheep among the creditors, with
obvious intent to take care of the sheep
first.
THE NEW York HERALD correspondent
is informed that the sub-commission will
circulate no such questionable.
The figures submitted were grouped
under detailed headings, but the French
and the Belgians led in demanding that
these headings be further sub-divided,
being still anxious over possible diver
army. The Russian demands are as
follows:
Transport Railways, 600. 900, 900
rubles gold; river transport, 100000
900; navigation and ports, 60.000,-
900; roads and bridges. 90.o00.00o; mo-
tor transport, 15o,o00.ooo; total. 1885,
900, 900.
Observation-Disclosures and improve
ments, 60, 600; seeds and model farms.
10000, 900; agricultural machinery. 2oo.-
600, 900; fertilizers and insecticides. co.
100000; hunting and fishing. 45.000.000:
motor tractors. $4,000. 600; elevators and
cold storage. 36,000,000. Total. 924, 100000.
Industry-Tsxtiles, l05, 100000 metal
works, 270000,000; oil. 30000.000; mines.
rs, 900, 900: sugar. 15,00o,Oo0; foods. 15.oo0.-
900; copper, 60,0oo,0o0; timber (building),
12o. .O0o, 900; electricity, 15.oO0ooO; chemi-
Gals, 100000; miscellaneous, So.000.oo0.
Total. 10000. 900.
Commerce and Banking-Reconstruc-
ton international trade. 800 900, 900; bank
credits. 200 100000. Total, 500.0o0,000.
Grand total, 1924, ,000, 900 rubles gold.
Litvinoff explained that 1t should be
understood that the gold ruble was to
be taken at its pre-war value of fifty
cents and described the sum named as
only what Russia would have to have
in the way of credits for purchases
abroad. insisting that the Soviet Govern
ment was spending much more than
that internally. He said the figures had
been carefully examined and many re-
ductions made from departmental es-
Inmates.
The figures were received not with
out certain liveliness among. the
French and Belgians, leading to rather
warm retorts from the Russians. The
excitement was allayed by Lieut.. Com
mander Edward Hilton Young remark
ing. You can't keep your heads for fig
ures In thunderstorm"
The French demanded further expla-
nation of the banking and commercial
credits and Sokolnikoff replied that
3OOWo,OOO rubles were needed to buy
manufactured wares. which the cooper
ative societies could distribute to the
peasants in exchange for grain and
other raw materials for export. while
the balance was needed to back the
state banks and to issue bank notes for
foreign trade