The New York herald., 1922-05-05
TERMS TO RUSSIA
DEPEND ON BELGIUM
France Won't Sign Unless
Brussels Government
Agrees to Do So.
BOTH PREMIERS AGREE
Jaspar, Who Objected to
Property Article, Is Sup
ported by Theunys.
WATCH THE BOLsHEvIKI
Panicky Feeling in Genoa
That They May Make
More Treaties.
WATCH THE BoLsHEvIKI
BY FRANCIS M'CULLAGH.

SpectQt CuOfe TO The NEW YORK HERALD.
Copyright, 1929, bv THE New YORK HERALD.
GENOA, May 4.-Tae announcement
that France will not sign the Russian
memorandum until Belgium signs it
creates an impasse in the conference,
with all depending upon Brussels. But
there is little hope there, for M. Jas
par, who objected to the property ar
ticle, has Premier Theunys at his back
in the Belgian Chamber and Premier
Poincare in the French Chamber
against the Bolsheviki.
That Brussels has become the CEN
ter of the situation was proved by the
enormous activity of the wires be-
tween Genoa and there yesterday and
to-day the Paris wires having been
busiest before.
The Russian reply Is expected to be
as indeterminate as the memorandum.
Hence the end OF the conference prob
ably will find the Soviet Government
semi-recognized, with a promise of full
recognition by the end OF the year, IL the
Bolshevist internal policy is reasonable.
There is a pancky vigilance of the
Bolsheviki here for fear they will make
more treaties and concessions. Visits of
Tchitcherin to the Czechs are interpreted
as preparation for separate treaty, like
the Rappalo treaty with the Germans.
Even greater suspicious attend the
movements OF the oil magnates who are
arriving in Genoa.
OIL Experts Arrive.
The arrival from Moscow of the So
Wet Governments oil experts causes fear
that the conference will degenerate into
an International scramble for conces-
sions. England is suspected. The So
cialist newspaper Ldvoro pictures Lloyd
George preaching brotherly love. with his
eyes toward heaven and his fingers in
the pockets of his friends, 'pinching"
Russian concessions.
Meanwhile, the rumored Italian An
CORA agreement, if true. shows that
Italy Is looking after herself To-day
the heads Of the Italo-Russian Economic
Company met the entire Bolshevist dele
cation at the Genes Hotei to consider
a big project for italian trade in Rus
sia
One Soviet oil expert says that Russia
adding that If the French or the Bel
gians really suspect that their property
will be given to the English the Russians
will agree to the insertion of an article
in the memorandum undertaking to give
no countryts old concessions to another
country.
TchitcherIn BIames Powers.
M. Tchitcherin in commenting on the
memorandum to Russia said:
"The memorandum shows that the
Powers reject the propositions given in
my letter to Mr.. Lloyd George on April
20 and also reject the project of the
Russian experts / offered to satisfy the
small prewar bondholders but objected
TO obligatory compensation for foreign
nationalized properties. Therefore the
Powers will hasrantly injure the small
bondholders for the sake of the great
financiers and industrial groups
I'VE cannot protest now. nor say we
accept this or reject that in the memo
randum, but most of the important ar
ticles have been declared bad by the
biggest statesmen of the Entente. and
Mr.. Lloyd George himself denounced NJ.
Seydoux's amendment"
The Entente delegates derived much
satisfaction from Tchitcherin's speech
wanted loan badly. which fact gives
the Allies hold on the Soviet delega-
tion. The Allies also see in Tchitcherin's
statement against an international cor
poration becoming all powerful In Rus
ia an indirect refutation of the oil con-
tract charges and the assertion OF Rus
sia's determination not to let any big
foreign company become strong in
Russia.
Commenting upon the memorandum.
Rakovsky says that the reconstruction
of the railways alone. the most impor-
tant work, would absorb at least three
fourths Of the miserable f20, 600, 900
offered Russia as the price of complete
surrender which even Mr.. Lloyd George
thinks should not be asked The Rus
slams want money direct. but the foreign
experts think that would outrage the
soundest principles of finance, especially
as Russia cannot revive for many years.
They point 20 the millions lost in 1919
and 1921 in the Balkans BY Western in
vestors in the expectation NJ recupera-
ton which has not yet occurred. And
the experts say Russia's recuperation
will be far slower.
Furthermore. IL is clearly Russias
idea to get funds from foreign trade for
the establishment of state socialism,
which SO far is penniless. existing only
en- paper and seems bound to fail even
tually.
The Russians think Lloyd George will
confine himself to threats only against
France. and that M. Barthou's return to-
morrow is of no substantial Significance,
taking place merely because his nom
return would be tactless and undiplo-
matte and blow to the conference.
The Russian contention that the con-
ference is dominated by bankers was
proved. they said. by the announcement
that the bankers international confer
ence in Paris on May 20 would be
crucial point fo- Genoa, and that action
here on Russia and kindred matters
would be suspended until England and
L.,-o ma aeft1pd all nrpati0ug hatWapr