SOVIET FINANCES.
LOxVDON, Dee. 21.—Tho recent rapid recovery in Russia since the change from Soviet theories is illustrated in the announcement that the State bank in twelve moiiths has increased its uold reserve from £400,000' to £14,000,000. The issue of Cliervonetz notes of £27,0G0,000 is covered up to 51 pea- cent, by the gold reserve' and the rCst by foreign securities. 'The Chcrvonetz is equal in value' to one guinea. Several big British banks aro reported to be dealing heavily in these notes.
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Bibliographic details
Poverty Bay Herald, Volume L, Issue 16348, 4 February 1924, Page 10
Word Count
83SOVIET FINANCES. Poverty Bay Herald, Volume L, Issue 16348, 4 February 1924, Page 10
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