Russian gold

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:: The Soviet Gold Reserve (1921-1923)

Collection:: Economics Books

States trade returns as $101,278,000, or about $50,000,000 below the corresponding Swedish export figures, while reported gold im- ports from Switzerland into the United States for the three-year period under discussion are quite insignificant. On the other hand, gold imports from France into the United States for the three years exceed by far not merely the corresponding exports but even the total gold exports from that country. It is evident, therefore, that American figures of gold imports from France include shipments to the United States from Sweden and mainly Switzer- land by way of French ports. Alggregate gold imports into the United States from Sweden and France during the three years under discussion are shown as slightly over $35,000,000, or in excess of 1,300,000,000 kronor, the approximate amount of gold exported from Sweden during this period. This total is equivalent to aboul 680,000,000 rubles, which may therefore be regarded as a conserva- tive estimate of the gold exported from Russia by the soviet authori- ties during the three years following the Civil War. These exports include also $11,400,000 of Russian gold, which in accordance with an agreement with the American Relief Administration were turned over by the Soviet authorities to the American Relief Adminis- tration for the purchase of food. This gold apparently must have reached the United States by way of some other European country. as the American import statistics fail to show any direct gold imports from Russia during the past few years. The Soviet Com- missariat of Finance has a small gold reserve of its own apart from the gold reserve of the newly established state bank. No statement of its size has ever been made. On the other hand, the early statements of the new state bank show but insignificant amounts of gold, and the present more important gold holdings of the issue department of the bank on May 1, 1925—viz, 180 million rubles—largely represent new output, imports, and gold brought out of hoards since the reestablishment of a relatively stable currency. See statistics of gold exports and imports of Sweden, France, Switzerland and the United States, pp. 53-56. The slight discrepancy between the figures above and those in the Appendix 18 due to the fact that Mr Jacobson, at the time of writing, had at his disposal only the preliminary statisties of exports and imports. atl

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