100 Years ago....
The problem of how to make Russia pay
May 19, 1922
The Allies, meeting in Genoa, took time off from wrangling over German reparations and moved to the even thornier question of Russia's debts. Lenin's Bolshevik regime has repudiated debts contracted under the Czar and Refuses to pay compensation for property seized during the revolution. Though the Russians did agree to come to Genoa, it was not to negotiate, as the others had hoped, but simply to demonstrate their intransigence.
They have been told by the Allies that diplomatic recognition is out of the question until the debt issue has been settled. This evening the conference broke up without the Allies reaching agreement on a common front. The only thing they do agree on is that somehow Russia must be made to pay up. They plan on holding another meeting next month at the Hague.
Article from "Chronicle of the 20th Century" ISBN 1 872031 80 3