as Soviet gold which has been smelted at the Swedish Mint or given
in payment for Soviet gold sold to that institution. Because of the
amicable relations between the United States and Sweden, Assistant
Secretary of the Treasury S. Parker Gilbert, Jr., and Director of the
Mint Raymond T. Baker have ruled that the Assay Office may not
refuse to purchase this gold.
Very recently some doubt as to the origin of gold being sent
here by British and French interests has been raised and the Assay
officials are puzzled as to whether they are complying with the ruling
against receiving Soviet gold. The practice in both countries is to
have the metal assayed and run into bars by private assayers who
do not work exclusively for their Government or for the Banks
of England and France. Thus, it is pointed out, it might be pos-
sible for some Europeans to get Russian gold into England and
France, have it turned into bars by the same agencies which work
for the Governments and then transfer it here and sell it.
There are only three Government mints, outside of the United
States, which put distinctive markings on gold bars. These are the
Swedish Mint, the Canadian Mint at Ottawa and the British Indian
Mint at Bombay. All other Governments use unmarked bars,
some of them using special forms, but most of them using conven-
tional forms. Under these circumstances, with private assayers
doing a majority of the work, the chances of converting Soviet
gold into the ordinary commercial form are considered great.
The affidavit which the Assay Office uses in cases of suspicious
offerings is considered very comprehensive. Tt reads. in part, as
follows *
“The undersigned owner of a lot of gold in the amount
of. . . for the purpose of inducing the United States to
purchase said gold, delivered to the United States Assav
Office, does hereby represent and warrant that said gold
is not of Bolshevist origin and has never been ‘in the pos-
session of the so-called Bolshevist Government of Russia.
“The undersigned further represents that it is acting
on its own behalf and not for account of another in of-
fering said gold for sale in the United States and does
forever warrant to the United States, without any qualifi-
cations or reservation whatever, the title to said gold.”
Authorities here are of the opinion that if it is made neces-
sary to append this affidavit to all gold offered to the Assay Office,
very little of the metal will be brought here unless the Government
of foreign countries can guarantee the character and origin of the
gold. Even in such cases there might be difficulty in getting Amer-
