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2) § 
which became available only in the latter part of 1920 with the 
Progressive pacification of the country. Meanwhile, however, the 
Government in order to pay for indispensable imports, also to meet 
international obligations assumed under the peace treaties with the 
new contiguous states (Esthonia, Latvia, Poland) begar to export 
gold in large quantities, chiefly to Sweden, whence after further 
refining and stamping, the gold found its way to the United States 
direct, or to other European countries (e. g., Switzerland, France, 
etc.) and ultimately to the United States. There are no Russian 
data regarding the volume of these gold exports, which commenced 
in 1920, reached their peal in 1921 and continued in large volume 
during the following year. According to the Swedish official. trade 
statistics, gold imports from Russia and total gold exports from 
Sweden during the three years mentioned were as follows (in 
thousands of kronor of 26.8 cents each) - 
Swedish Imports of Gold from Russia and Total Exports of Gold from 
Sweden, 1920-1922 
Total gold 
exports from 
Sweden 
(kronor) 
63,791,000 
934,396,000 
330,372,000 
. Total snr incon. by 28 13 888,000 1,328,559,000 
Equivalent in dollars ........... .. 331,739,000 855,963,000 
Gold imports 
from Russia 
Of the gold exported from Sweden during these three years, 
563,319,000 kronor, or 42.4 per cent of the total exported, went to 
the United States; 433,854,000 kronor, or 32.6 per cent, was shipped 
to Switzerland; while 215,386,000 kronor, or 16.2 per cent of the 
three years’ total, was forwarded to France. Smaller amounts are 
shown to have been consigned from Sweden tq the Netherlands, 
Great Britain, Germany, and Finland. Gold exports (largely coin) 
to Switzerland from Sweden were particularly heavy during 1921 
and 1922. The Swiss figures of gold imports from Sweden for the 
same period differ but little from corresponding Swedish export 
figures. Most of the gold imported into Switzerland in coin form 
Was re-exported to the United States in the shape of bullion so as 
to comply formally with the provisions of the American regulations 
which prohibited the official assaying of gold traceable to Russia 
under Bolshevik control. A small part of the gold thus received 
was re-exported from Switzerland to India. 
Gold imports into the United States from Sweden during the 
three years under consideration are shown in the official United 
20