PLIGHT OF SOVIET

Hokitika Guardian, 23 September 1932, Page 6

PLIGHT OF SOVIET

INABILITY TO PAY HER BILLS.,. HOLDERS ASKED FOR RENEWAL. LONDON, -September 20. The Soviet .cannot meet bills foy... £25,000,000 jdue at the end of ..the, month, and has asked private holders in London, Paris and Berlin to renew them at 1 per cent, a month. ■ Mi Stalin’)? most trusted envoys are criss-crossing Europe on secret missions aim'ed fit averting economic disaster.: -i Negotiations with France, Italy, Ger. ; many, and Switzerland have proved; futile.: Moscow may face its .most, serious financial crisis since the revolution. - /■; ;.■;>■ Shortage of grain and foreign , buyers’ caution increase the difficulties; ~\ fZ The grain collections in Russia during July and August were 50 per cent, below the estimates, reports the-Moscow Correspondent of ~ the “Manchester Guardian.” The area sown up to September Ist was 8,500,000 acres lower than last year although the Five Years’’ Plan demands hn increase in-the acreage of winter-, crops. ■ The newspapers blame local officials, declaring that the failure was inexcusable, as the grain collection demands had been reduced, compared with last year, while the harvest was better. Frequent stoppages of tractors, the, utilisation (of horses, and a Mure, promptly 'to repair implements caused slow sowing. The trouble, was aggravated by a reduction of the Soviet output of new tractors, owing to a lack of radiators. The Leningrad factory, producing 'the necessary copper parts consistently sup-, plied parts unsuitable and of varying thickness, ’with the result that the ( dady, tractor, .production figures were mis- , leading, as many of the tractors wer.e. without radiators.