THE VALULESS ROUBLE

Dominion, Volume 13, Issue 298, 10 September 1920, Page 7

THE VALULESS ROUBLE

A TANGLE OF DEPRECIATED PAPER MONEY. M. Constantino Rumkin, a trans-Baikal Russian, who is now visiting Wellington, talks interestingly of tho troubles which arise in Siberia over money matters, owing to the confusion caused by the various issues of different Governments and the comparative worthlessness of any of them. Before the war.the Russian rouble was.nominally worth 2s. in English money, and a yen in Japanese coinage. Now there are in circulation Romanoff roubles (the old Imperial issue), Kerensky roubles (issued by the Kerensky Government), Siberian roubles (issued by. Kolchak), and Bolshevik roubles. Every variety of rouble has depreciated to such an extent that it now takes 400 roubles to make one yen with the Japanese—which means that, they ore praotically worthless. Confusion is worse confounded on the Harbin exchange by the different rates of exchange charged on the different roubles. Tho Chinese make tho prices by queer deductions of their own. The Romanoff rouble is perhaps still the most valuable, but even the Chinese rofrain from recognising Bolshevik roubles. An extraordinary thing is that these people will give mere for a new (paper) rouble than for an old one. The Chinese press out the crossings with a hot iron, and oven repair holes in torn notes in order to get a fraction mere for them. *

Bolshevik money, says Mr. Rumkin, is no good in Siberia, as tho people can buv nothing with it. Tha peasants want goods and clothes in return for their produce, but as the Bolsheviks cannot supplv Bucli ffontls, their money is utterly worthless. Gold is very scarce, and is, as a rule, secured by the Japanese, who can supnly manufactures in exchange. When Mr. Rumkiit Inst heard from Ribpria. the price of one egg was 120 roubles, and one pound cf meat cost 600 roubles, whilst it would tnlco thousands of Siberian roubles to buy a pair of boots or a. few yards of clcth. "Tou hear of the BolsheviV Government having goods and foodstuffs piled up and waiting for export." said M. Rnmkin. "I don't believe a word of The conditions do not nllow of nny such thins being possible. In Siberia there is fighting all tho summer, nnd little production (from the frozen soil) is pessible in tho winter. The people are mostly starving. In Irkutsk I was fold that people were so hungry that they followed a man who was pasting up bills in the street, and, tearing down the bills, licked tlio pasto off tlie • paper and the walls for want of something hotter/*