Evening star., 1944-07-14
Johnston Says Soviet
Credit Is Good and
Predicts Trade Boom
By JOSEPH II. BAIRD.

By JOSEPH n. BAIRD.
The prospect Of vigorous and pros.
porous trade between the United
States and Soviet Russia after the
war, providing long term credits are
granted the U. H.-S. R., ID freseen
by Eric Johnston, president Of the
United StatAs Chamber OF Com.
merce. who has just returned from q
series of ccnisrences with Premier
Stain and other Soviet leaders.
Mr.. Johnston expressed this view
late Yesterday at : press conference
ct the Ciiennher OF Commerce Build
ing. He sdded he believed Russian
credit wat - good as that OF any
country In the world, and that the
Soviet Unions vast natural re-
sources. many OF them needed by
the United States, assured repay
msnt OF credits.
At the same time Mr.. Johnston-
no friend of conamunism-said he
saw no SAa&on why the differences
between the economic and political
systsms here and In Russia should
prevent the growth Of healthy trade
relations between the two. He ex-
planned that he had expressed this
viewpoint and that the Soviet lead
er concurred.
Alternatives Suggested.
Asked whether he referred to pri-
yate or governmental credits for
Russia, Mr.. Johnston said he be-
lieved they might well be advanced
by private bankers. However, he
added, II these could not be ar
ranged the American people would
have to decide whether the Gov
ernment could not make advances
through some such organization ~
the Export Import Bank.
Specifying the. bases of Russian
American postwar trade, Mr.. john
ston said the Soviet Union would
want from America vast amounts of
mining machinery. industrial equip
ment. hydro-electric equipment,
bodybuilding machinery, ships and
trucks. He quoted Premier Stain
as saying that imports OF industrial
equipment would be more than
double those of prewar years.
Russia, on its side, Mr.. Johnston
added, could supply the United
states with copper. manganese, CO.
bait. nickel, timber and some agri-
cultural products which are not
grown here In large amounts.
Ne Market for Planes.
AZ to consumer goods, the business
leader said there would be 4 limited
market for them In Russia, though
the Russians planned to supply them
domestically after obtaining the
necessary machine tools and other
equipment for their factories. He
saw no market for airplanes, a. the
Soviets during the war have built
many modern plants.
Turning briefly to the economic
political scene In Russia. Mr.. John
ston said the trend there was In
creasingiy toward collecttvization.
and he saw no prospect whate of
the return OF private enterprise.
Therefore all sales made by Amer.
can business to Russia would be con-
tracted for by Soviet government
purchasing agencies. While admit
ting the possibility that some sov.
ernment-to-g government trade agree.
ment might be necessary. Mr.. John.
ston was inclined to believe that
United States businessmen would
find it possible TO trade directiyvtth
Soviet agencies, rs they, did before
the war.
Other Impressions.
Other impressions Mr.. Johnston
brought back from the Soviet Union
were: E - .oa'Hf1 -
n Russian workers appear TO beS ad-
equately fed, despite the war, and
show no evidence OF malnutrition.
The soviets have Z profound re-
gard for American production
methods; in fact, there Is prob
ably more admiration for American
businessmen there than here"
Russia will be so preoccupied
after the war with the Job of rats.
ing the living standard Of it, vast
population that it is not likely to
become an important competitor OF
the United States in world markets
within our lifetime.
Russians Have Much to Learn.
The Russians still have much to
learn about the technique Of using
their own labor and equipment.
A number Of important new trends
are evident in Soviet Russia, among
them: Glorifcation of the Russian
past, which was frowned upon in the
days just after the revolution; in
crcasing nationalism and self-confi-
dence; less suspicion OF foreigners,
particularly Americans; a desire for
close cooperation with the United
States: and 4 basic desire for peace
as necessity for economic advance
ment. . feeling apparently deep in
the mind Of Premier Stain.
Mr.. Johnston related that when he
visited the industrial section east Of
the Urals he asked the Foreign
once and Foreign Trade Commits
sariat for permission to take four
American and British press aSsocia-
ton men with him. His request was
denied. He then appealed directly
to Premier Stain, whose answer
Was: Why not?" As q result, he said,
the correspondents visited certain
areas where no American had been
since 1925.
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