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Show mm needs OUTSIDE CAPITAL Hoover Says Foreigners Must Rebuild Her Industries WASHINGTON June 12 Investment, Invest-ment, rather than trade. Is the Important Im-portant problem confronting American Amer-ican business men with resp-.-t to Russia, Secretary Hoover declared tn a statement describing the Russian foreign trade situation. "Without S large investment of foreign for-eign capital as a means of restoring pr, iilii, i Inn." Mr I ..os . r -:i id "I lie prospects are that at least for some years to come there will be even less opportunity :o seH goods to RussU than In 1921. for, with the exhaustion Of the gold reserve, her means of payments will shrink to a minimum. The feasibility of Investing capital in Russia depends essentially on the policy pol-icy of the Bolshevik government nnd on the general internal situation, and not In any Important degree upon action ac-tion of foreign governments." Some misunderstanding exists, tlin secretary said, as to the practical Character uf the trade agreements with Russia by foreign governments. there being nothing in the trade treaties between Russia and England, Germany, Italy and other countries enabling trade with private Individuals Individ-uals In Russia. Russia's trade today, he declared, IfH consists of Importing goods and pay-I pay-I lng out gold from the imperial re- I servo as the country cannot pay for iH commodities with commodities. ifH |