Russian Trade

The recognition of the Soviet Government by the Labor Administration of Great Britain has been reflected in the U. S. by a revival of proposals for future trade with Russia. Hitherto Russia's purchases of American cotton have been made via Bremen through German middlemen. This made American goods more costly to Russia, and limited her credits here. Now the All-Russian Textile Syndicate, Inc. -- a Manhattan agency of the All-Russian Textile Syndicate of Moscow--has been set up to deal directly with American exporters, and obtain credit directly from New York banks. In cotton this new arrangement makes another saving possible; cotton bought abroad is to some extent heavier and more costly since it absorbs moisture in the ocean shipment. By purchasing in New York, this element of hidden expense can be eliminated. Payments for U. S. goods will be made with the chernovetz, which has replaced the rouble as Russia's basic currency.

The Danish representative of the Ford Company has contracted with the Soviet Government for the importation of Ford cars into Russia. All cars thus sold will be made in Ford's Copenhagen factory, or else be imported from America through Copenhagen. The contract calls for 18,000 cars annually.

The election of William G. Marvin, Manhattan lawyer, as President of the American-Russian Chamber of Commerce has also called public attention to that body. Its board is composed of American bankers, manufacturers, lawyers. The Committee on Russian Trade, of which Mr. Marvin is chairman, will be amalgamated with the American-Russian Chamber of Commerce, and its facilities taken over by the Chamber.

The members of the Chamber desire to make it "the active medium of supplying American business men with up-to-date information as to the happenings and possibilities in Russia." It is also believed that "its activities may be helpful in bringing about in Russia an understanding of the methods by which business between the two countries may be carried on."

The Chamber has secured the support of "many important business and banking elements in the U. S. interested in trading with Russia," and "earnestly solicits the cooperation and support of all American busi- ness interests who desire the speedy reconstruction of American-Russian trade without political prejudice or partisanship."