Valuta for Russia

On direct instructions from the President, Federal Loan Administrator Jesse Jones made a deal last week which was not like Jesse Jones at all. With U.S.S.R.'s Amtorg Trading Corp. he signed a contract to buy for delivery sometime in the future $100,000,000 worth of manganese, chromite, asbestos, platinum. Against this contract he promised to advance $50,000,000—$10,000,000 of it at once.

The U.S. badly needs Russia's chromite and manganese, has lesser need for its asbestos and platinum. But the U.S. cannot get them, no matter what agreements are signed. Much of Russia's manganese is mined in Transcaucasia, was formerly shipped to...

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