29 JULY 1922, Page 25

The fourth number of the Manchester Guardian Commercial publication, entitled

Reconstruction in Europe (ls.), which is edited by Mr. J. M. Keynes, is devoted to Russia and to the oil industry. Every shade of Western political opinion regarding Russia is to be found in articles by Mr. Keynes, Lord Robert Cecil, M. Painleve, Signor Orlando, Mr. Samuel Gompers, Mr. Lippmann and M. Moutet. Leading Bolsheviks expound their economic programme at length, and adduce photographs, of questionable value, to show that Moscow has a few shops open, whilit Maxim Gorki and Lunacharski discuss the attitude of educated Russians towards Bolshevism. Dr. Neilsen writes on the famine. The editor, who himself has no practical sugges- tions to offer, shows fairness in printing a weighty letter from Mr. Leslie Ditmas, who thinks that it would be absurd to make large loans to the Bolsheviks when the money might be safely expended to great advantage in our own colonies. The section relating to oil is full of useful information. Sir John Cadman's article on " Anglo-American Relations and Oil " is timely and reassuring.