South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-12-10
MITIGATION Of
9RUSSIAN MONEY
IS BIC PROBLEM
Paper Money Issues of Vari-
Gus Anti-bOISheyik Gov
ernmentS 10 be Taken Up.

OMSE. Dec. 6.-Unihcation OF the
various kinds OF paper money which
<iave been issued by the several gov
ernnoents opposed to the bolshevi.si
is advised by Finance Minister De
Hover. OF the Au-Russian govern
ment
The All Russian government. ne
continued. had issued 9.67S.OOo. 900
lubles IN paper money up 10 Sept.
4. 1919. These are not credit
notes but treasury obligations and
therefore W. De HOyer considered
them TO be Of secondary value. They
are poorly printed and have been
SO cleverly couhterfeited that even
he state bank itself cannot distin-
guish the real fTomathe false. For
his reason. said VI. De Hoyer. the
RomanOf currency issue Is valued
four times higher than that OF the
All-Russian government.
Many Different Issues.
The finance minister said that
the government of the volunteer
army CGen. Denikine's) has issued
geo. 900. rubles In bills from the
Eoston OF the state bank. In South
Russia there are $4,000. 00O rubles
Of Crimean paper money. The $780,
900. 600 rubles and there are also
obligations of the so-called Conf
dance Loan Of 100000 rubles.
The minister said that the Ameri-
can Bank co. has now az last hand
ed over 10 the Russian government
500. 000, 900 rubles OF paper money.
As soon as possible this would be-
sent To South Russia but the minis
ter declared ii would be impossible
Tea organize unihcatiou OF currency
before January I. 1920. A unifica-
zion OF the gudgets Of all these vari-
aus governments would also have TO
be arranged. he said.
What To do With Money.
As the armies move forward the
Question will arise as 10 what 20
do with all the money in Soviet
Russia amounting 20 100. O0O. GOO,-
600 TO 100000, 900. 600 rubles-a debt
which the Russian government can
not take upon itself" sai6 VI. De
Hoyer, 1T will be necessary to con-
slider what is TO be the comparative
rate between our bills and those Of
Soviet Russia"
The government will have TO ne
gOtiate loans both at home and
abroad TO meet demands now being
made on the exchanges. Mr. De Hoy
ct continued. English and Japanese
banks have already been approached
on tho subject Plans for an inter-
nal loan. TO take the form of a
lottery, are already in hand. The
tickets and obligations have been
received from America. This loan
will be for 2OOO. 600, 600 rubles to be
put out in 100000 600 issues ut two
month intervals IF the bOlsheviki
are pushed back TO the Urals"
Pay I'm L. =. Printed Notes.
The prizes are To be paid in Amer
lean printed notes at the rate of
100 rubIes for every 500 or 400 ru-
bles OF treasury obligations. Thus
for every billion rublies paid out in
AmerlCan-printed notes the govern
lnent would account for three or
our billion rubles OF obligations
Exports and imports must be or
ganized." continued the minister.
only export can improve ruble eN-
change" he committee for for
oigu trade Will be furnished with a
banking apparatus and will receive
5he aid of the government in the
matter OF foreign exchange. II is
desirable that all commercial banks,
Trims and coopcratives participate in
his bank The bank will have
branches abroad in the form OF trad
ing departments. Ii should be en-
powered TO grant long term loans.
Must Establish Bank.
we must establish a Russian
American bank with an initial CAPT
raj OF 100000. Communication
regarding such q bank are being
conducted with American financial
interests and are leading TO good re-
suits
AS for financial regulation of the
ruble we shall have 10 devaluate il
md consider il worth whatever il
viii buy ia the home market and
its average value IN the foreign mar
kct
'It Is the moral duty Of the allies
90 aid us 20 get part of the CON
tribution which Germany will pas
They should also help us TO pay the
interest ON those loans which We
raised abroad In their own coun-
tries They should AFFORD us long
term credit TO purchase industrial
Equipment and goods for our agri-
culture. our industries and our
transport 4 loan in foreign gold
- also necessary To strengthen our
gold security and insure future sta
bfity OF our currency"
FANORS KAISER.