The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-04-15
SHARP NOTE
is SENT TO
MACDONALD
New Troubles for the
English Money Power


the start of the conferences between
the Macdonald government and the
representatives Of the Soviet govern
ment several of the leading bankers
here have sent joint note to the
government setting forth terms they
wish the government to have incor-
porated in the memorandum of agree
ment that is to be the basis of the
Anglo-Russian treaty.
The Russian delegation has already
prepared counterclaim for damag-
es from invasion and counter-revolu-
tion financed by previous British gov
ernments, which exceeds by several
hundred million dollars the total
amount of British claims.
The conference which begins today
is expected to last well into July and
if the opposition indicated by the
joint note of the fnanciers continues
it may last much longer as the Rus
sian delegation says it is justified by
conditions in Russia in refusing to
make any further vital concessions to
British capital.
The British shareholders in Russian
industries are estimated at about U.s.
900. More than $4,000 of the stock
holders have interests in six indus
trial companies, amalgamated under
Leslie Urquhart's presidency. In adj
dition to such mining and industrial
properties large section Of the Brit
ish capitalists hold bonds in the Rus
sian national debt, which the soviets
still show no intention Of acknowledge
ing.
On these main questions, as well
as the details of the regulation Of
commercial and Industrial activities
and trade in the two countries, the
conflict is expected to be sharp and
prolonged.
Bankers Signing Note.
The memorandum, which is signed,
among others, by Sir Charles S. Ad-
dis, director Of the Bank Of England;
Frederick C. Goonenough, chairman
of Barclays bank; Edward G. Gren-
fell, member Of the firm of Morgan,
Grenfell & Co.; Sir Eric Hambro, di-
rector of the Royal Exchange Assur-
ance company; Walter Leaf, director
of the Westminster bank; Reginald
McKenna, former chancellor of the
exchequer, and Lord Swaythling, head
of the banking firm OF Samuel Mon
tague & Co., apparently was designed
to influence the labor government
against too many concessions to the
soviet government.
MOSCOW, Russia, April 14.-Speak-
ing at conference in Tifis prior to
his return to Moscow, Leon Trotzky,
minister Of war, said Soviet Russia at
present was stronger than ever.
With regard to the Roumanian
question, Trotzky declared Russia
would maintain a policy of waiting.
The door for an amicable settlement
of the situation was still partly open
He would not say, however, that there
never would be war.
France, said Trotzky, was playing
foul game in supporting Roumania
and Poland against Russia, and in at
tempting to cause a break between
Russia and Turkey. But, he added,
Raymond Poincare, the French pre-
mier, would find that he had miscal-
culated.
Full Recognition.
The British prime minister ex-
planned at the beginning OF the con-
ference that the meeting was an out
come OF the note sent to Foreign Min
lister Tchitcherin granting Soviet Rus
STA recognition de jure. The confer
ence, he said, was complement Of
that act and in no wise altered the
fact that the recognition which had
been granted was unqualified.
The liquidation OF the past relation
ship Of the two countries, the premier
stated, had to be considered, as well
as the peaceful relations OF the fu-
ture.
M. Rakovsky, replying, laid stress
upon the theme OF the future peace Of
Europe and the necessity for disarm-
ament. He assured the British that
Russia desired close financial and
commercial relations with this coun-
try All the outstanding questions,
including the debt question, he said,
must be settled and the old treaties