purchasing power of the currency is continuously decreasing. “The budget”
writes the official recorder (the above mentioned periodical, No. 8.
p. 108), “can be characterised as strained”. In order to cope with this
‘strain’, the industrial loan amounting to 4oo mill. roubles has been
issued. This loan, however, is in reality nothing more or less than a masked
support of the industry by the State exchequer, for the whole loan, which
realised far less than 400 millions, has been solely and exclusively signed
by the institutes of the State. It is no wonder then that, according to
private information received, 3 Cherwonez were being paid for a golden
10 rouble piece at illegal exchanges in §etersburg and Moscow during the
month of August.