The Washington times., 1924-01-16
U.S.|NTERESTED
IN COMEBACK
Of RUSSIA
Administration Is Watching
Economic Rehabilitation
With interest
BY III. X. REYNOLDS.
international News Service.

Although President Coolidge and
Secretary Of State Hughes continue
to withhold political recognition from
Russia because Of alleged attempts to
propagandize against American in
stitutions, Secretary of Commerce
Hoover and Secretary of Agriculture
Wallace do not hesitate to admit
Russia's growing importance as a
factor in International trade.
The Department Of Agriculture,
under the direction Of Secretary
Wallace, recently completed a spe-
cial survey of agricultural conditions
in Russia, while the Department Of
Commerce, through United States
consuls and commercial agents In
Europe and the official Russian
newspaper, Izvestia, is keeping in
touch with Russian trade develop
mentS
OF considerable interest to Ameri-
can manufacturers is the effort OF
the Soviet government to control
basic principle, according to a re-
port relayed to Washington from
Copenhagen by Marion Lechter. the
only such goods may be imported
as are absolutely necessary and as
cannot be manufactured in Russia.
Import Limited.
Even for such products" said
the consul general, quoting from a
bulletin of the Danish foreign Of
flee, there are many limitations
in order to assure that the total
import shall not exceed the total
export.
"The government is straining it.
self to the limit to increase ex-
ports. However, every precaution
Is also taken to see that the do
mestic industrial consumption of
raw products Is first taken care Of
completely. The government has
recently placed the export of GER
tain products in the hands Of a
limited number of institutions and
companies, so as to prevent COM
petition in purchasing the Russian
market Government corporations
have the right to make purchases
in foreign countries, but all deals
have to be approved by the gov
ernment monopoly bureau. Such
permission is given only after very
exhaustive investigation and criti-
cism.'
The effort of the Soviet authori-
ties to establish an excess OF ex.
ports over imports has met with
success, according to an abstract
from Izvestia, made public by the
Department Of Commerce in a re-
80
throughout the world.
Hold Trade Balance.
The Izvestia said that during the
fiscal year ending September 30.
1923, exports were valued at
1919, 10000 gold rubles and i'm
ports at 197,700,000 gold rubles,
thus representing a favorable trade
balance of 100000 gold rubles.
Secretary of Agriculture Wallace
is principally concerned with what
is described as Russia's 'agricul-
tural comeback"
In review Of farming conditions
in Russia, the Department Of Agri-
culture says:
1.-THE most significant fact point
ing to Russian recovery is an in
CREASE OI lTOIII 1O " GV per CCuJ 4u
the acreage sown to crops this sea-
son.
Before the war Russia exported
lumber and other agricultural prod
ucts. This trade was practically
entirely cut off, and other excess
upon to supply the deficit. The
United States, Canada, Argentina
and Australia expanded acreages
sown to bread grains, and, although
the acreage in the United States
has receded somewhat from the
peak acreage in Canada and Ar
gentina has continued to be in
creased.
"Only small quantities Of grains
have as yet been exported by Rus
sia in that country's struggle to
return to it's prewar situation, but
the machinery for handling a larger
trade is being gradually built UP.
Make Trade Pacts.
Trade agreements have been en-
tered into between the Soviet gov
ernment and importers in Germany,
Austria, Denmark, England and
Norway, which establish trade con-
nections, fix methods of payment
and facilitate commercial inter-
course.
"While a general increase Of is
to 20 per cent in acreage sown to
crops this season throughout the
federated Soviet republics, includ-
ing Ukrain, is indicated, increases
as high as 80 to 36 per cent in
some of the famine regions have
been reported to the department"
Another indication Of Russia's
effort at economic rehabilitation
was the Commerce Department an
nouncement, on the basis Of ad-
vices from Moscow, that the stand
ardization Of the local currencies
of the different republics compris-
ing the union Of Soviet republics
and the amalgamation Of these
currencies into a single one, as a
mart of the solidification of the