The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1923-10-25
BRITISH BUSINESS MEN
AND TRADE WITH RUSSIA
GIVE OPTIMISTIC REPORT AND
PREDICT RECOVERY or
THE COUNTRY.

London Correspondent Wall Street
Journal)
British aspirations to trade will
Russia have been whetted by the re-
ports broadcast by a delegation Of
ten British manufacturers on theil
return from tour Of study in the
land of the Soviet These men. among
them a cousin OF the British Prime
Minister, were some OF the manufact-
urers comprising the firm of Becos
Traders, Ltd. This company is a
selling agency in Russia for eighty OF
the leading English machine and tool
manufacturers, and was organized in
1912 at the instigation Of the British
government 1t also conducts manu-
facture in Russia Among its share
holders are Baldwins, the firm of
the Prime Minister and of Sir Robert
Horne, the former Chancellor Of EX-
chequer; Gloucester Carriage and
Wagon Co. Marshall Sons and Co,
Crossley Brothers. Pulsometer En-
cheering CO.. William Bayliss & Co.
The company has working agreements
with Explosives Trades Ltd, and
Tanning Traders Ltd.
I'VE went to see if we might re-
sumo our earlier activity in Russia,
Arthur c. Marshall, managing director
of Becos Traders. Ltd. told The Wall
Street Journal representative. and we
decided we could What that entails
is naturally a business matter and
not a subject fer discussion But il
will be along machinery lines
Stable Currency in Russia.
Russia now has a stable currency.
II has favorable trade balance. II
raises its revenue by taxation. and
not by the printing press. Trade
within the country is now free Ger
tain industries are free. while the state
continues to operate certain branches
and ahnounces it viii continue to
operate them. Foreign trade is con
trolled. but the one aim of that con-
troll is to keep the trade balance favor |
able A year ago. all foreign trade I
had to be done through state organs: |
now many companies are individually |
licensed
The state is not fostering home
industries to the exclusion of foreign
imports. but is choosing Just which
Industries can be nurtured to produce
most economically It will buy abroad
where it can purchase more cheaply
md more soundly than it can produce
Taxation is direct and Indirect
Two direct taxes are being preserved.
hose on income and turnover. The
income tax ranges to 20 per cent and
,verages per cent The turnover
AK is 3 per cent but there are signs
If a movement to decrease it, There
ire several indirect taxes. chiefly ex-
Use and customs.
Wages on Piece-Work Basis.
Wages are now paid on a piece
work. basis. Formerly the men went
o the factories and went home again
nd drew their pay They worked as
luch as they pleased. Now they must
FORK very hard to earn a living, and
heir earnings represent between 60
nd 20 per cent of their pre-war
ages"
So long as russia controls Imports
, maintain a favorable trade balance,
1r. Marshall admitted, their volume
certain for many years to remain
Glow anything like their pre-war
vel.
But Russian recovery Is possible
ithout outside credits" he asserted o
L is something like a man with a o.
rye debt at his bank He goes to D.
lie banker and tells him lac can pay r
+ the overdraft if he can have some r
sw capital for legitimate develop n
ent. The banker asks how long he
i'll need to clear himself without
lis help. And he has TO say it might
Ike him ffty years instead of ten
"Russia's quicker recovery depends h
together on the credits received from M
tside. Formerly our company al
Id agricultural machinery In Russia al
three years time; now we sell on ii
rec months" 81
'itish and Russian Trade Parallel st
In an interview with London In
wspaper Mr. Marshall was quoted te
saying British and Russian trade In
n absolutely parallel but in oppo- pr
e directions. Everything that Rus du
produces we can take. and are or
ID TO get and everything that we an
'duee Russia viii take and Is glad ra
get ne
If we put British money into RUS
S mines and industries we shall me
SUPPLIES of raw material cheaply. Yin
ich viii enable us TO compete with WI
er countries. AS to German COM ma,
ition. Russia cannot rely at present Mi
German finance. quality quantity
similar step to Becos has been
en- in France where so firms with Z
otal of 500.OOO.OOO francs. most of cat
m in Russian trade before the the
.. have formed the Russian Import an
Export Consorium. They are at met
sent represented in Russia by and
rges Marten. former chief of the arr