Responsible government in the Dominions: Responsible government in the Dominions

Responsible government in the Dominions (Vol. 3)

Bibliographic data

Monograph

Identifikator:: 1772009490

URN:: urn:nbn:de:zbw-retromon-156190

Document type:: Monograph

Title:: Russian gold

Place of publication:: [New York]

Publisher:: Amtorg Trading Corporation, Information Department

Year of publication:: 1928

Scope:: 72 S.

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Statement by the State Bank of the U.S.S.R. on the shipments of Soviet Gold to the United States

Collection:: Economics Books

ageous to foreign banks, will hardly be in the interest of American irms. ‘After the last adverse decision of the United States Govern- ment on the question of the admission of Soviet gold for deposit, the German Garantie und Kredit Bank made a proposal to the American banks to reship this gold back to Germany. However, the American banks hesitated to comply with the request in view of the fact that the Bank of France had presented through the federal courts a claim to the gold on the ground that this consignment con- sisted, either wholly or in part, of the same gold which the French >ank had on deposit in the former Russian State Bank in the years [QIG-I1QI7. “This claim is entirely groundless inasmuch as the gold possessed by the State Bank of the U. S. S. R. was obtained by purchases from private parties, from gold-producing trusts, in the domestic market, and even abroad. With reference to this particular consign- ment of gold, it is definitely established by the stamp on the gold and by the books of the State Bank of the U. , S. R. and of the refining plants that this gold was produced in the years 1925 and 1026. “A claim of this kind appears still more strange to the State Bank of the U.S.S.R. when it is considered that from May 1925, to February 1928, that is, in a period of less than three years, the State Bank effected a turnover with the international markets of gold imports and exports of 200 million rubles (over one hundred million dollars), two-thirds of which was with England. The Bank of France was, of course, well informed in regard to all of these shipments of gold belonging to the State Bank of the U. S. S. R. However, up to this time the Bank of France did not see fit to launch similar attacks either in England, Germany or in any other country, evidently recognizing that not a single country carrying on regular trade relations with the U. S. S. R. would regard its claims as having any foundation. “To this must be added that the State Bank of the U. S. S. R,, founded in October 1921, can in no way be considered the successor of the old State Bank. The Soviet State Bank inherited neither the assets nor the liabilities—not even the files—of the Imperial State Bank or of any other formerly existing bank. At the time of its establishment it received as initial capital an allotment from the budget of two trillion paper rubles. “How the State Bank was built and how the people of the

Access restriction

Copyright

fullscreen: Responsible government in the Dominions (Vol. 3)

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation