Russian gold

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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

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: The Russian Gold Reserve before and during the World and Civil Wars (1883-1921)

Collection:: Economics Books

a's itle ers len 1lce ase nd on is .to ar 18. nd 1d 18 st 1d 1 €, greatest secretary of the treasury since Alexander Hamilton, con- siders the yellow metal tainted with Bolshevism. “It happens that quite a few able-bodied American working nen are idle. They have been idle for some time. Employment in many lines is slack and uncertain. Many wheels are motionless because there is a lack of effective demand for manufactures of many sorts. Perhaps quite a few of these wheels would begin to whirr were that Russian gold turned into the channels of trade.” - . . . The Russian undertaking is perhaps not more startling in character that that upon which the founding fathers entered when about 150 years ago they set up a government based on the theory that all men are created equal and that they are endowed by their Creator with the unalienable right to life, liberty and happiness. Most of the old world looked upon this undertaking with hostile and fear-smitten eyes, just as Secretary Mellon is look- ‘ng on that of the Russians. Yet our undertaking was permitted ‘o prove itself. The world held aloof and allowed us to work out our destiny in our own way. “Whether the Russian undertaking can prove itself it is perhaps entirely too early to say. For our own part we are bound to say that we feel and have always felt that it is doomed to failure. As We see it, it runs counter to human nature. It doesn’t conform with the real aspirations of mankind. It is contrary to the deeper in- stints of the human race. And instead of harmonizing with those nstincts, as the American undertaking did or strove to do, it dis- regards them and seeks by sheer force to create an atmosphere in which it can flourish. ia d f - “But all this is beside the real question which relates to the $5,000,000 in Russian gold which might set many wheels humming if it were released for the purchase of American machinery, live Stock, manufactured goods and wares of various kinds. Five mil- lion dollars amount to little, it is true. But even so small a sum might help in a time of depression. And back of the $5,000,000, We are told, there are other millions which will come hither for like Purposes if permitted to enter into the channels of trade.” {K

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