London, Feb. 5.
During the course of a "debate on trade with Russia in the House of Commons to-tay, Miss Will son, the Labour member for E. Middlesbrough, moved, that in view of the grave state of unemploy-in this country, particularly heavy industries and the imperative need of new markets for creased trade with Russia and that order to pat this trade on a stable basis a commercial agreement should be arranged between! the two countries, Mr. G. M. Gillett, the Secretary of the Overseas Trade Department, replying to the discussion, said that his Department had done' what. was often done by go-ahead "business firms. Ty had sent a.representative to favestigate the position in The Government, he continued, were doing everything possible to increase trade with Russia. If Russia desired to raise credit in country, the settlement of rious questions of debt was necessary; that was ¢ fundamental necessity if any large amount of money was going to be secured in this country. ficulties of Raising Money When one looked at the position of the London money market day, faced with the recent financial the effect of the great slump in the United States, one Know "perfectly well that for any country at present there were special difficulties in raising money in London.
'The Government, he said, had to bear this matter in mind' and was impossible to expect that to' any great extent they could be: responsible for finding credit for any other Government under pres-jons. There was evidence that a largo proportion of the business done with Russia would no; have been undertaken without the assistance of the exports credit, scheme, 'The action of the Labour Government, he argued, in opening negotiations with 'Russia had already resulted to a small extent in increased trade, and what was: canally or more important, in a better' feeling between the two nations which was likely to lead to better results still in the future.
The Government hoped, he announced in conclusion, "that very shortly a commercial agreement would be possible between the two countries.
The motion was agreed to—British Wireless through Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.