The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-02-13
FIRST SHIPMENT
OF U. S. COTTON
GOES TO RUSSIA
American Business Is
After Soviet Trade
Bv FREDERICK KIIH.

FEDERATED PreaHl
NEW YORK, Feb. 12.-While Sec
rotary OF State Hughes is cursing the
Russian government from beneath his
nicely clipped beard, unofficial recog-
milton of the Moscow regime is max
ing notable Roadway in American
quarters which are no less powerful
than Washington officialdom.
Ten thousand bales of American
cotton valued at 100000, left New
Orleans, Feb. 3rd on the S. S. Aetna.
bound for Murmansk. This is the first
direct shipment of cotton from the
United States to Russia since the rev.
olution.
Huge Trade Coming.
This shipment is merely the fore
runner of a series of similar transac-
lions on large scale. In 1928, the
All-Russian Textile syndicate pur-
chased foreign cotton thru the Liver
pool and Bremen markets, worth
more than $40,000,0OO 1t is likely
that the bulk of this trade will hence
forth be carried on by direct imports
from America. That will depend. of
course, upon the attitude of cotton
combines and upon the
terms of credit available thru Ameri-
can banks. There is every reason
for believing that both cotton ex-
porters and bankers will do their ut
most to encourage the. resumption Of
trade relations.
The extent to which the American
markets will be called upon to meet
Russia's demands hinges upon the U.
5. governments policy. A pursuance
of the state departments offensive at
tltude might conceivably oblige the
Russian government to seek markets
elsewhere.
1t may be asserted, however, that
this shipment of the first cotton cargo
marks milestone in the relations of
the two countries.
Banks Coming to Terms.
1t is not even two months since the
Textile syndicate opened
its Office in New York City. The
president of that organization, Nogin,
who visited this country recently.
found American cotton growers eager
to transact business with Russia.
while powerful American financial
groups, notable the Chase National
bank, were quick to show their readi-
ness to come to terms in negotiating
a credit agreement.
Aside from the 10000 cotton bales
shipped on the S. S. Aetna, the cargo
included 500 tons of cottonseed,
destined for Turkestan, where the
Moscow government is embarking up
on an ambitious scheme for cotton
cultivation. 1t has been intimated to
certain American groups that conces-
sions might be available in Turkestan,
both for cotton growing land and for
the establishment Of textile industries.
Purchases made thru the Russian
syndicate also included textile ma
mill supplies and textile
ibers. Tests will be made of Ameri-
can dye-stuffs, and proving satisfac-
tory, these, too, will be bought on an
ample scale.
Southern States Eager.
Prior to his departure, Nogin
thru the southern states,
where he found the liveliest interest
manifested in the Textile syndicate's
His dealings during that
excursion resulted in tentative ar
with the South Carolina
Cooperative Cotton-Growers' Associ-
alton and with the Georgia Growers
Co-operatives.
While most of the credits hitherto
granted to the Russian syndicate by
American banks were Of short term
nature, the stability of the Russian
coupled with the rapid
Of Russia's whole eco
nomic organism, presages the avail
ability of American credits on more
favorable terms soon.
1t is understood, in this connection,
that high official of New York fin
ancial institution is contemplating a
journey to Russia for the purpose of
more precisely the assur-
ances which the Russian government
and its subsidiary institutions can
offer for future credits.