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Table of Contents
The Complete Maisky Diaries: Volume 1
  • 27 October 1937
  • 12 July
  • 18 July
  • 9 August
  • 30 October
  • 31 October
  • 1 November
  • 4 November
  • 5 November
  • 6 November
  • 7 November
  • 9 November
  • 10 November
  • 12 November
  • 15 November
  • 16 November
  • 17 November
  • 18 November
  • 23 November
  • 24 November
  • 25 November
  • 27 November
  • 28 November
  • 29 November
  • 1 December
  • 5 December
  • 6 December
  • 11 December
  • 13 December
  • 16 December
  • 17 December
  • 18 December
  • 19 December
  • 20 December
  • 24 December
  • 27 December
  • 31 December
  • 8 January
  • 9 January
  • 15 January
  • 18 January
  • 25 January
  • 26 January
  • 28 January
  • 1 February
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  • 6 February
  • 10 February
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  • 22 February
  • 28 February
  • 1 March (1)
  • 1 March (2)
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  • 12 March
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  • 3 June
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  • 2 July
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  • 1 July
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  • 29 July
  • 1 August
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  • 18 November
  • 24 November
  • 1 December
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  • 28 January
  • 7 February
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  • 1 March
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  • PS 1 October
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  • 22 September
  • 23 September
  • 24 September
  • 25 September
  • 26 September
  • 27 September
  • 28 September
  • 29 September
  • 30 September
  • 1 October
  • 6 October
  • 11 October
  • 13 October
  • 15 October
  • 17 October
  • 19 October
  • 20 October
  • 22 October
  • 25 October
  • 26 October
  • 27 October
  • 28 October
  • 30 October
  • 31 October
  • 1 November
  • 3 November
  • 9 November
  • 15 November
  • 16 November
  • 17 November
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  • 27 November
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  • 11 December
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© 2025
16 June
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By Liakhovetsky, Ivan Mikhailovich (Maisky)

The Complete Maisky Diaries: Volume 1

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16 June
During the naval parade in Spithead I found myself on the same ship (the Maine) as Leith-Ross,
Frederick William Leith-Ross, chief economic adviser to government, 1932–46; director-general, Ministry of Economic Warfare, 1939–42; chairman of Inter-Allied Committee on Post-War Requirements, 1941–43.
chief financial adviser of the British government. He will soon leave for China to study the question of the strengthening of the Chinese currency. Our acquaintance until then had been entirely superficial, but today Leith-Ross suddenly started speaking to me on a very serious subject.


Page 127

He had seen Ashton-Gwatkin
Frank Arthur Ashton-Gwatkin, acting counsellor at the British embassy, Moscow, 1929; first secretary, Foreign Office, 1930; policy adviser, Ministry of Economic Warfare, 1939.
the other day, who told him that I find it inadvisable to raise the question of the settlement of old debts. It’s a great pity. This problem poisons Anglo-Soviet relations through and through. It should not be touched on, of course, if a favourable outcome is impossible, but is the debt problem really so hopeless? Would the USSR really refuse under all possible conditions to discuss, for instance, a plan of settlement such as that put forward by Cazalet?
Victor Alexander Cazalet, Conservative MP, 1924–43; suspicious of the expansionist intentions of the Soviet Union, he championed the Polish case after the outbreak of the Second World War.
I replied that Cazalet had himself described his plan to me, but I was still of the view that now was not the time to touch upon such a complicated and painful matter as British citizens’ claims on old debts. This would be wiser precisely from the point of view of Anglo-Soviet relations. Moreover, I am sure that the London banks will not grant a 20- or 25-year loan to the USSR, as envisaged in Cazalet’s plan.
Leith-Ross unexpectedly exclaimed: ‘Who knows? The banks might be reluctant, but if the government were to agree to provide a guarantee, the whole situation would change radically.’
‘The last person from whom I expect any indulgence toward the USSR is your chancellor of the exchequer (Chamberlain).’
Leith-Ross protested: ‘Maybe you take an excessively pessimistic view of things. The government may not agree to a 25-year loan, but a 20-year one is a possibility. I talked with Colville
Sir John Rupert ‘Jock’ Colville, assistant private secretary to Chamberlain, 1939–40, and to Churchill, 1940–41 and 1943–45.
on this subject recently, and he thinks that a loan of this type would of course be met by objections in the House, but it could be passed all the same.’ I raised my hands and said: ‘I still think it would be better not to awaken old ghosts.’
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Document Details
Document Title16 June
AuthorLiakhovetsky, Ivan Mikhailovich (Maisky)
RecipientN/A
RepositoryN/A
ID #N/A
DescriptionN/A
Date1935 Jun 16
AOC VolumeThe Complete Maisky Diaries: Volume 1
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