The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1925-12-17
Big BUSINESS
IS EAGER FOR
RUSSIAN trade
Demand Reopening of
Trade Relations

for the development of trade relations
with the Soviet Union is increasing
among business men in this country
following the gathering here Of rep
resentatives of the biggest American
banking and industrial concerns of
the country and the representatives
Of the Russian Soviet government, at
which Charles M. Schwab and the
head Of the Chase National Bank well
coined the Soviet mission to this
country and expressed themselves in
favor of commercial relations with
the Soviet Republic
outspoken Recognition.
This gathering lis looked upon as
the first outspoken recognition by
American finance and industry of the
importance of commercial relations
with the Soviet Union and an admis-
sion of the stability1of the Soviet gov
eminent. ef
Eager for Russian Trade.
In spite of the refusal of the Ameri-
can government to recognize the Sow
lets, the business interests are eager
for Russian business and are literally
breaking their necks in the mad
scramble to gain some of the orders
which the Soviet trade mission will
place in this country. Many of the
concerns are arranging long term and
easy credits in order to induce the
Soviets to trade with them.
Undoubtedly, the recognition of the
Soviet Union will be one of the big
issues in the coming sessions of CON
gress as American business realizes
that the fantastic hopes of an early
collapse were nothing more than
dreams induced by the feverish i'm
agination of the capitalist press and
demand that all barriers in the way
of commercial relations be removed.
Reopen Relations Despite Coolidge.
Schwab in welcoming the Soviet
mission in the name of big industrial
lists of this country pointed out the
.eagerness with which American bust
ness interests want to trade with the
Soviet Unio3 and declared that the
trade relations between the American
business interests and Soviet Union
would develdp greatly and rapidly de-
spite all OBJ tacles placed in the way
Of such development.
Schwab expressed satisfaction over
the fact THAI Russia was again trading
with America. Schwab said that the
Bethlehem Steel corporation had sold
much steel to Russia before the war,
and hoped to sell more in the future.
Express confidence.
Reeve Schley, head of the Chase
National Bank, which financed the
purchase of American cotton by the
Soviet Unions textile syndicate and
has largely and profitably participated
in Soviet commence with the United
States for the past two years, took
this opportunity of expressing his con
fidence in the Soviet trading institu-
tions and urged the immediate reopen
ing of trade relations with the Soviet
Union. n
Schley, spoke of the economic pro-
gress of the Soviet Union in the last
two years in overcoming the effects
of war, blockade and famine. He des-
cribed visit he made to the Soviet
Union last summer. when he was
greatly impressed with the general
order, and especially the excellent
condition of the railways.
Paul Ziev, president of the Amtorg
Trading corporation spoke about re-
cent developments in Soviet-American
commerce and described the future
possibilities OF increased trade.
Among those present besides
Schwab and Schley were William
Ewing, member of u. p. Morgan &
Co.; Charles H. Sabin, chairman of
the Guaranty Trust company; Arthur
Leasby president Of the Equitable
Trust company, and Clarence Dillon.
member of Dillon, Read G. company;
Morgan's chief competitor in foreign
investments. There we're also a mum.
Der OF representatives from such i'm
portant firms as the Remington Type
writer company and the Chicago
Pneumatic company at this gathering
which voiced the desire OF big bank.
ing and industrial capital for the i'm
mediate resumption Of trade relations
with the Soviet Union,
The Soviet Trading corporations
that were represented were the Am.
tork Trading corporation, Textile Syn
dictate, State Bank of Russia and the
Central Cooperative Society.