THE VALUE OF A ROUBLE.
To the Editor. Sir, —With reference to your answer to enquiry as to the value of a Russian rouble, pardon me for pointing out that you are hardly correct in stating that it is worth 3s 4cl in English money. It certainly would be if silver was today worth 5s per ounce, but as the present value of that metal is a fraction over 2s per ounce, it follows that tho exchange or equivalent value of tho rouble in English money is now Is 3d. When the present Russian coinage system was initiated, they, like the Latin Union, estimated*the value of gold at 15J times its weight in pure silver (i.e., gold at £3 17s 10$ d per oz standard, and silver at 5s Id per oz), thus making the rouble nominally worth 3s 4d at the time. SKOBELOFF. Ashburton, June 14, 1909. (We thank our correspondent for his well-timed correction. He is right in taking the current value of silver as the basis for the current value of the rouble. We went into no calculations, but simply gave the value as it stood some time back.)
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Bibliographic details
Ashburton Guardian, Volume XXIX, Issue 7821, 14 June 1909, Page 3
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192THE VALUE OF A ROUBLE. Ashburton Guardian, Volume XXIX, Issue 7821, 14 June 1909, Page 3
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