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40
2) §

which became available only in the latter part of 1920 with the
Progressive pacification of the country. Meanwhile, however, the
Government in order to pay for indispensable imports, also to meet
international obligations assumed under the peace treaties with the
new contiguous states (Esthonia, Latvia, Poland) begar to export
gold in large quantities, chiefly to Sweden, whence after further
refining and stamping, the gold found its way to the United States
direct, or to other European countries (e. g., Switzerland, France,
etc.) and ultimately to the United States. There are no Russian
data regarding the volume of these gold exports, which commenced
in 1920, reached their peal in 1921 and continued in large volume
during the following year. According to the Swedish official. trade
statistics, gold imports from Russia and total gold exports from
Sweden during the three years mentioned were as follows (in
thousands of kronor of 26.8 cents each) -
Swedish Imports of Gold from Russia and Total Exports of Gold from
Sweden, 1920-1922
Total gold
exports from
Sweden
(kronor)
63,791,000
934,396,000
330,372,000
. Total snr incon. by 28 13 888,000 1,328,559,000
Equivalent in dollars ........... .. 331,739,000 855,963,000

Gold imports
from Russia

Of the gold exported from Sweden during these three years,
563,319,000 kronor, or 42.4 per cent of the total exported, went to
the United States; 433,854,000 kronor, or 32.6 per cent, was shipped
to Switzerland; while 215,386,000 kronor, or 16.2 per cent of the
three years’ total, was forwarded to France. Smaller amounts are
shown to have been consigned from Sweden tq the Netherlands,
Great Britain, Germany, and Finland. Gold exports (largely coin)
to Switzerland from Sweden were particularly heavy during 1921
and 1922. The Swiss figures of gold imports from Sweden for the
same period differ but little from corresponding Swedish export
figures. Most of the gold imported into Switzerland in coin form
Was re-exported to the United States in the shape of bullion so as
to comply formally with the provisions of the American regulations
which prohibited the official assaying of gold traceable to Russia
under Bolshevik control. A small part of the gold thus received
was re-exported from Switzerland to India.

Gold imports into the United States from Sweden during the
three years under consideration are shown in the official United

20