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(1923) [MARC] Author: Fridtjof Nansen - Tema: Russia
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it. By exercising great economy she will be able,
I think, little by little to collect the necessary
capital for restoring the country’s prosperity.
But this process would be greatly accelerated,
much to the benefit of Europe and Russia herself,
if foreign industry and trade would co-operate
in this work of reconstruction by giving on credit
the machinery and products without which Russia’s
production cannot be increased.
The grave position of international finance
obviously prevents foreign capital from giving
Russia advances without security and en bloc. The
money might even, perhaps, be used in ways which
did not really increase the country’s capacity for
production, and the population’s consequent ability
to pay the money back and to buy. Moreover,
the money might help to strengthen the nation
alising and centralising tendency, and this would
counteract the movement in the direction of free
trading and economic independence which was ini
tiated by NE P
On the contrary, credit given to undertakings
and special societies whose prospects and capacity
for development had first been carefully investi
gated, would greatly improve the position of
considerable sections of the population, and would
open up possibilities which" would interest foreign
industries ; while at the same time it would favour
a general development, thereby helping to secure
more normal working conditions for industrial, com
mercial, and agricultural enterprises, Strengthened
by foreign capital, these enterprises would probably

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