For the current year 1927/28, an Export-Import plan has also been 
formulated. In drafting it, the strict order was issued that in view of the 
lifficulties experienced in monetary exchange, all possible measures were 
lo be employed to bring the balance under all circumstances into an active 
state. It was resolved not even to stop at prohibiting the import of the most 
necessary goods. Nevertheless, according to figures just published, the 
balance shows liabilities amounting to 50 mill. Rbl. In these liabilities, 
however, the extensive grain purchases are not even included, such as are 
at present being effected under the most unfavourable circumstances by 
the representatives of the foreign trade organisation (Vneshtorg), in 
foreign sea-ports. 
ln treating with foreign trade, one cannot avoid speaking of the endless 
revisions and re-groupings which befall every commercial representation 
abroad, at least three times a year. The disclosed abuses by no means afford 
a guarantee for the good conduct in this particular domain at the revision 
which is next due. A private importer or exporter, who had supplied goods 
excessive in price or inferior in quality, who had missed the proper season 
of sale, who had over-paid freight charges, etc., would have to suffer for 
it by his own ruin. In a bureaucratic department, however, as represented 
by the “Vneshtorg”, the degree of responsibility is fixed by a hierarchy 
of connections (as in the case of Kwiatkowski), or by proletarian descent, 
or by services rendered to the party (as in the case of Chwessin). On the 
other hand, the supplying firms are compelled — outside of their open 
competition — to seek for connections with influential personages, and not 
to deal direct with the consumer, but with officials as intermediaries. 
The Currency. 
The changes which have occurred in Russia’s monetary system from 
1924 to the present time, can be divided into four distinct periods. The 
first one, following upon the monetary reform, lasted from the Spring of 
1924 until the Summer of 1925. During this period the whole country 
is eagerly absorbing the new paper-money, at first for the purpose of 
exchange, but later also for purposes of saving. The complete depreciation 
of the Soviet paper currency (Sowsnak), had produced an artificial vacuum 
on the money market. This first period is thus characterised by an extensive 
issuing activity, the objects of which are employed in the commercial 
turnovers of the country. 
The second period lasted from the Summer of 1925 to the Winter of 
1926; during this period the currency of legal tender in circulation among 
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