New-York tribune., 1919-04-20
Siberia Untangglingg
A Maze of Finance
Left by Bolsheviki
Omsk Government Has
Sll0,OOO,OOO Gold That
Can Be Used to Finance
Its More Urgent Needs
Ne1c Yo,@ Tribune
H. l. nnfnn Rnron,l

NelC Yo,e Tribune
Washington Bureau
WASHINGTON, April l9-Vigorous
steps are being taken by the Omsk gov
ernment in Siberia to cancel the cur
rency and financial obligations of other
kinds issued while the Bolsheviki were
in control of that part of Russia, &C
cording to cable advices received by the
Russian Embassy from the Ministry of
Foreign Affairs of the Omsk govern
ment
"The Ministry of Finance,' the cable
said, "is endeavoring to eliminate from
circulation all the local monetary is
sues which the Bolshcviki left behind
them. 1t is also aiming TO replace the
Treasury notes of twenty and forty
nble denominations, the aftluX of
which from European Russia can at
tain immense sums owing to the fact
that the Soviet authorities have ISSUED
sums 10 the amount of approximately
10000, 600 600 ruhles iS35, 900 600 600 at
normal exchange Vnluc). and arc daily
printing about 2do,0o0,ooo rulbcs.'
II is stated that apart from the nat
ural resources of Siberia me tails.
wheat, oils and raw materials there
is available as security for financing
the needs Of the country the metallic
amounting to about 10000 pounds of
gold, worth approximately $110,000.000,
and 20,500 pounds of silver, worth at
current prices about $250,000.
Bolsheviki Robbed Banks
"Aftcr the freeing of Siberia of the
Bolsheviki," said the cable, "owing to
the robbing by them of the State Bank
and Treasury, the ready money in the
state credit institutions amounted on
July 1st, to 213,000,000 rubles. At the
present moment, owing to measures
taken, the ready money amounts to
about 1,500,Q00,000 rubles. During the
same period there is to be noticed
considerable increase of deposits. The
total current accounts as compared to
July have increased nearly five times.
The abolition of restrictions CON
corning the payments of deposits and
on current accounts has led to the in
crease of funds of the credit institu-
tions; during the first two months of
the year the balance of current ac-
counts in private credit institutions
increased by 10O,0O0,0OO rubles.
"The payments of taxes and customs
as compared to the first months of the
activity of the government have in
creased by March, 1919, more than
twelve times. In February of this
year there was paid in more than 49,
100000 rubles, whereas in July, 1918,
only 925 600 was received
"The general receipts of the state,
including the excises, custom fees, as
sets of the railways, post and tele-
graph, amounted to February of this
year to 105,O0O,O rubles, exceeding
four times the receipts of July, 1918
Notwithstanding the continual in
crease of state assets, the budget can
only be drawn up with large deficit
to be covered by new issues.
Expenditures Heavy
"The government is obliged to make
large expenditures for military needs.
amounting to 3000O0,O0O rubles
monthly, and to cover expenses Of the
railways, which have increased unpro-
portionately to the assets to the
amount of 00,000,O0O rubles monthly.
Furthermore, the government spends
large sums on loans to local govern
ment institutions, municipalities and
metallurgy and other enterprises, as
we'll as to private and commercial
banks. Under such conditions the
monthly budget amounts to 6O0,000,000
rublcs: Issue of certificates of the
State Treasury for the covering of the
dehcit, totalling 3,500,000,00O rubles by
March ~, but not more than l,500000,-
600 rubles of this are in circulation.
AS for the production of gold, it is
necessary to note that up to the pres
ent time two-thirds of such production
of Russia is in Siberia. One should
also bear in mind that 93 per cent of
the production of platinum throughout
the world belongs to Russia, mainly on
the Ural. The government is actively
purchasing all the productions of gold
and platinum, buying them with short
term cert ificnteSn