The latest Russian note to the Allies as reported in to-day's telegrams leaves no doubt as to the Soviet's attitude regarding pr perty. They have nailed the colours to the mast of State ownership. It is not easy to see how they could do anything else in view of their attitude during the past five years. But in view of various telegrams lately received from Moscow: (of the propaganda order) describing how the Soviet had been forced. to recognize that State ownership of industry is a failure (as it has, of course, always proved to be), and that more rope must be gixén to private initiative, it is interesting to have this Note, which so effectually proves those telegrams to be what anyone not anxious to deceive himself knew they were—what is vulgarly called eye-wash. What will the Allies say now? Mr. Leslie Urquhart tells us that there are "alternative formule'? possible. But that is not the point. If the Russian people, former property owners included, are content that: all property shall "be in the hands of the State, that is their look-out. And if the shareholders in the Russo-Asiatic Consolidated Company, which Mr. Urquhart represents, are willing to lend money to the Bolsheviks on the security of formule, they are free to do so. But what is to become of industrial enterprises in Russia in which, be-~
Text read from the printed page and cleaned; old type leaves the occasional error.