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.

capital consisting only of a certain quantity of depreciated paper currency. With the inauguration of normal trade relations with foreign countries and in preparation for the reestablishment of a stable currency, the Soviet Union began to accumulate a new gold reserve. The State Bank as the future bank of issue went into the domestic and later also into foreign markets to procure the metal. Various other financial operations also served to build up the gold reserve in the vaults of the Bank. On January 1, 1923 the total precious metal and foreign currency reserve of the State Bank amounted to but 27,900,000 rubles. This figure, however, was increased several limes during the same year. On October 1, 1923 the precious metal reserve alone amounted to 90,500,000 rubles. The table on page 69 shows the increase in the gold reserve of the Issue Depart- ment of the State Bank from its early beginnings up to April 1, 1028, when it amounted to 180,208,750 rubles, while the total foreign currency and precious metal reserve of the State Bank on the same date was 262,536,000 rubles. A large part of the new gold reserve comes from the mines of the Urals and Siberia. Soviet gold production which at one tite dwindled to practically nothing exceeds in value $20,000,000 per annum at present. The State’ Bank of the U. S. S. R. has been both exporting and importing gold during the past several years, its turnover since 1924 amounting to 200,000,000 rubles. Soviet gold is accepted in all the leading countries of the world. This booklet containing authoritative studies of the Russian gold reserve, a statement by the State Bank of the U. S. S. R, and statistical data regarding the movement of gold from Russia, Russian gold production, the foreign trade of the Soviet Union and its present gold reserve, is intended to give the American public convenient access to data which ordinarily is difficult to obtain. On page 40-56 will be found reprints of editorials from the American press on the subject of the recent incident with the Soviet gold. AMTORG TRADING CORPORATION Information Department May, 1028

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