29 APRIL 1922, Page 2

The Bolshevllr delegates, in their reply to the Allied pro-

posals, first of all said that Russia ought to have all her debts remitted in consideration of the counterclaims grotesquely put forward on the ground that there would have been no resistance to the Bolsheviks but for the Allies. They went on to say that they would admit their liability for Russia's debts if the War debts and the interest on alt debts were written down—to an unspecified amount—and if " adequate financial assistance " was given to Russia. In other words, the Allies must lend the Bolsheviks money in return for a very dubious promise that part of their former loans may be paid. Further, the Bolsheviks asseuted in vague terms to the demand that the property stoke by them from foreigners should- be restored or compensation paid. But they-made it clear that the Bolsheviks would assume no obligations whatever until they had been- officially recognized as the Russian- Government de jure by the Powers. That would mean the conversion of the Russian Embassy in London into a centre of Communist propaganda under the Red Flag.