Reports from London also are to the effect that the Soviet importers now are paying for their purchases abroad largely' in cash instead of availing themselves of the $50,000,000 credit facilities that were accorded them in England last year.
The fect that the credit was the only one accepted by them in 1930 idlcates also that they are confident that their output of gold will be sufficient to enable them to pay for their importations in cash hereatter, when trade conditions necessitate, The Soviets, the Institute finds, also have begun even to make repayments of various foreign credits before they began to fall due, The final conclusion by the Institute of the effect of this intensified gold production In Soviet Russia is that her decreased foreign debt has lessened the necessity for a large favourable trade balance and that 3 gold supply sufficient to ship abroad relieves her further of pressure on merchandise exports to meet foreign committments The development of gold production fu Soviet Russia came just within a few years after the Gold Commission of the League of Nations, following 3 world wide survey, reported that owing to the gradual exhaustion of the South African gold fields, the world in another §0 years would not be producing enough gold to meet its monetary needs.
Text read from the printed page and cleaned; old type leaves the occasional error.