The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-08-13
BAN is LIFTED FROM
EXPORTS OF RUBLES
But Importation and Exchange
Transactions in the Money
Are Forbidden.
RESERVE BOARD RULING
All Restrictions Removed Ex-
cept on Bolshevik Russia
and Hungary.

Under a general license just issued by
the Federal Reserve Board all restric-
tons on the expectation of Russian
rubles have been removed. provided that
notice OF such expectations be given to
the customs division Of the Treasury De-
partment and to the division OF foreign
exchange Of the Federal Reserve Board.
The Importation of Russian rubles Is
, still under ban. however.
With the announcement Of this ruling
all restrictions have been removed from
the export Of coin. bullion and currency
and from transactions In foreign ex-
change except with or for persons in that
part of Russia now under control Of the
Bolshevik Government and with Hun
gary, and the importation of or exchange
transactions in Russian rubles.
The following statement was issued
yesterday by the Federal Reserve Bank
Of New York:
"By the proclamation of the President,
dated June rs, 1919, all previous procla-
nations prohibiting the expectation of
coin, bullion or currency, and the power
and authority vested in the Secretary of
the Treasury and In the Federal Reserve
Board. and all orders. rules and regula-
tons issued or prescribed In connection
herewith were revoked and cancelled
except that such proclamations, orders,
rules and regulations were continued In
force and effect In so far as they were
necessary to enable the Secretary of the
Treasury and the Federal Reserve Board
effectively to control
1. All expectations of coin, bullion
and currency to that part of Russia
now under tho control of the so-called
Bolshevik Government;
g. Any and all dealings or ex-
change transactions in Russian ru-
bles;
8. Transfer Of credit or exchange
transactions with that part of Rus
STA now under the control Of the So
called Bolshevik Government:
4. Any and all transfers of credit
or exchange transactions with terri
tories in respect of which such trans
actions were then permitted only
through the American Relief Admin
istration.
This proclamation did not authorize
remttances to enemy territory. which
were thereafter. as heretofore, per.
mitted only under special or general
license of the War Trade Board. Un.
der the general enemy trade licenses Is.
sued up to the present time by the Wal
Trade Board, however. such trade !:
permitted except in certain specified
articles and commodities. with all per
sons with whom trade Is prohibited by
the trading with the enemy act excep
trade with Hungary and that portion o.
Russia under the control of the Bolshe
vik authorities
ION June 80, 1919. the Federal Re
serve Board announced that remittancei
10 the countries referred to in the fourth
exception mentioned above were no
thereafter subject to any restrictions.
The Federal Reserve Board has Jus
announced the issue of a general license
permitting the expectation from tn
United States OF Russian rubles. pro
vided that notice OF such exportation
be given to the Customs Division OF TIL
Treasury Department and to the Divi
sion OF Foreign Exchange OF the Fed
eral Reserve Board. This regulation
does not authorize the Importation int
the United States of Russian rubles.
The present situation Is, therefore
that all restrictions have been remoTe'
from the export of coin, bullion an
currency and from transactions in for
eign exchange except as to % transac
tons with or for persons In that par
OF Russia now under the control OF tn
so-called Bolshevik Government; q
the Importation of or exchange trans
actions in Russian rubles.
ut should be noted that the Wa
Trade Board has not authorized trans
actions with or for persons in Hun
gary"