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