RUSSIAN FINANCE.
MINISTER'S STATEMENT. OUTLOOK NEVER BRIGHTER. REDUCTION OF PAPER CURRENCY Australian and N.Z. Cable Assn. (Received July 10, 11.30 a.m.) LONDON, July 15. ■ M. Sokolnikoff, .Minister of Finance, in a statement to foreign journalists, announced ■that about sS per cent, of next year's expenditure will be met by revenue. There would only be 12 per cent, paper emission. He displayed the design of a new gold coin which is being minted, hut withheld from circulation for a few years in order to prevent hoarding in peasants' stockings, where from 200,000.000 to 300,000,000 gold roubles are already stored. Sokolnikoff ela'med that Russia's financial outlook was never brighter since the, -advent of the Soviet Government.
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Waikato Times, Volume 98, Issue 15289, 16 July 1923, Page 5
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114RUSSIAN FINANCE. Waikato Times, Volume 98, Issue 15289, 16 July 1923, Page 5
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