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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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

“But this is no ordinary occasion; the gold is from Russia, Soviet Russia, and it will be remembered that the right of Soviet Russia to all things Russian has never been definitely established to everyone's satisfaction, so there is, of course, a little hesitancy in receiving this gold for fear there may arise some dispute as to ownership. The two New York city banks to which it was sent naturally do not care to take the risk; they have receeived it as agents, but they do not care to buy so much gold to which there is not a clear title. And the position of the United States assay office and the treasury is, of course, very clearly defined by the law regulating the purchase of bullion—it must be tendered by the owner. This gold is not tendered by the owner, and those who do tender it do not care to purchase it. “Which gives us the unique situation of $5,000,000, not in goods and chattels, not in promissory notes of either individuals or gov- ernments, but in the pure, solid, yellow metal, gold, that is abso- lutely without purchasing power in this country. Unless some change is made in its status it must be returned to the source from which it came, Soviet Russia. The gold having been sent to facilitate trade, which reached the sum of about $100,000,000 annually, it seems unfortunate that a cloud on its title should; render it useless and send it a-begging.” Scranton, Pa., Times, April 4, 1928 FIGHT FOR GOI.D “The American public finds unique interest in the situation created by a legal battle between France and Soviet Russia over the five million dollars in gold bars now held in New York banks in the name of the Soviet government. France is suing for possession claiming to have deposited this very same gold in the State Bank of Russia before that institution was seized by the revolutionists “ “Washington's attitude is clear cut,” says the Louisville Courier- Journal of the treasury department’s refusal to permit the gold. to enter the channels of trade in this country. ‘Since 1920, there has been an embargo on Russian gold. It is regarded as the property of the czarist regime. The seizure of it by the revolutionary fac- tions does not change its title, as the United States does not recognize the ‘Communist state. Further, the czarist regime owed debts to the United States which the Soviet will not acknowledge. So five millio? dollars in Russian bullion lies idle in two American banks and the treasury department will neither assay nor buy it.’ The incident suggests to the Courier-Journal ‘how little trust is put in a natio? RYO

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