Russian Gloom

A plenary session of the Anglo-Russian Conference was to have been held in London during the past week, but was suddenly canceled at the request of Christian Rakovsky, Russian Charge d'Affaires in London and head of the Bolshevik delegation to the Conference.

The reason for the postponement was said to be that the Russians could not come to a decision concerning the method of paying their pre-War debt. More important still is the fact that the Soviet Government cannot now obtain on their own terms the big loan that it hoped to raise in London. The British Government let it be known that there could be no thought of a Government guarantee for any loan made to Russia. This means that the Bolsheviki in London will have to negotiate direct with British bankers who, according to recent statements, will not lend Russia a penny until private British investors' claims have been satisfactorily settled. This, in turn, means that the Moscow Government must modify its financial and legal systems in order to make safe future British investments in Russia.

U. S. recognition of Russia being at present out of the question, London is the only place in the world where Russia can obtain the large credits requisite to her reconstruction. The situation was therefore one of extreme seriousness for the Bolsheviki and it was probably because of the gravity of the present stage of negotiations that Maxim Litvinov, Assistant Commissioner for Foreign Affairs, scurried from Moscow across the face of Europe to the British Metropolis. The Times, displaying an attitude entirely in keeping with that of the greater part of the British press, printed a letter from one Athelstan Riley, Seigneur of Trinity, Jersey, in which lofty scorn is apparent:

"The current number of the Pravda, the official organ of the Soviets, contains a cartoon. This represents three rollicking gentlemen, (arm-in-arm, in top hats, one of which is encircled by a nimbus. Underneath are three names, The King of England,' 'MacDonald and 'Jesus Christ.'

"The representatives of the Soviets are now in London, regarded as our guests and were received by His Majesty at yesterday's levee, two days after the arrival of this number of the Pravda in England from Moscow.

"I understand that the Soviet representatives are still in London."