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

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Editorials in the American Press regarding the recent shipments of Soviet gold to the United States

Collection:: Economics Books

when the National Bank of Sweden refused in 1918 to accept any more of it from importing bankers, through fear that it would cause ‘inflation’; when KorcHAK captured the treasure which the Soviet had sent for safety from the Imperial Bank to Omsk, and a railway accident littered the track and right of way with Russian gold rubles which were never afterward accounted for. War has always had a way of upsetting the dignity of the precious metals. These occurrences of a few years ago seemed only another chapter in the story of 1795, when the French revolutionary army overran Holland and made for the gold reserve of the Bank of Amsterdam, celebrated by Apam SmitE—only to find the bank’s vaults empty, with no subsequent explanation of what had happened to their contents. “The $5,200,000 Soviet gold, now as effectively banned from the United States as an immigrant of whose record Ellis Island dis- approves, may be sent to London. The Bank of England has lately been as short of gold as we have been surfeited with it, and no awkward questions of title are likely to be asked. The London bank, indeed, has been accepting Russian gold with the utmost cheerful ness; as lately as last January it took in $5,000,000 of it without demur. If sterling were to fall again, and London were by chance to export some of this very Soviet gold to the United States, the Department of Justice would not interfere. It would have become respectable, or else its title would have been quietly merged with that of the $7£0,000,000 other gold in the Bank of England’s vaults.” l.os Angeles, Cal. Times, March 11, 1928 THE SOVIET SIBERIAN GOLD “The mines of Siberia are yielding $25,000,000 annually for the Russian soviet government and from this amount a considerable sum is being used to establish a reserve for the state bank. Recently $5,000,000 in gold bullion was received by two New York banks to be held for the account of the Soviet State Bank at Moscow. The Russian government is beginning to utilize the proved methods of the world’s civilized nations and is using the gold of Siberia to do it. “Despite the fact that the Russian government has not been recognized by the United States for reasons generally known If this country and throughout the world, commerce between Russia

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