Evening star., 1922-12-28
NEW RUB[E|SSUE
PLANNED BY RUSS
Finance Commissar Tells
Soviet Congress How to
Stabilize Currency.

Dr. Tie Associa ted Press.
MOSCOW. December 2s.-The all
Russian soviet congress at It's sesslon
Tuesday heard reports concerning
the financial situation, taxes and In
dus;ry. 10 which questions the various
government departments are giving
much attention because Of recen,
events.
AZ. Soholniko1. the acting commits
sar OF finance. was the principsi
speaker, lie asserted that ne was no.
prepared to present the budget f"r
1929. because of the unstable condi-
ton Of the rubIe. and declared that
the depreciation Of the roubie ana
the budget deficiency had necessitated
a further issuance OF paper money.
with the result that the currenc!
had not yet been stabilized.
As one of the means for orsfcon-
ing the deficit n. Sokolnikof recon-
mended change in the tax system
asserting that he thought II bftt ~
shift from tax i'm kind Tor IN"
peasant 10 a monetary tax, he sus
rested that the change he brought
phou, gradually. SO as 10 prevent
confusion and hsrdships among In
dividuaR
Curtaiifss Array.
NJ Stain. commissar Of nattons
minorities urging unifcst'on "f me
allied republics. announced thst cnt
tailment of the soviet army u" '"''-
600 men had already begun. He as
serted, however. that owing 10 ihe
fact thai there was still danger from
outside attack because OF unsettled
conditions. Russia should have
strong unified army for protection
The com rlsssr asserted that an
other cause calling for unihcaflon .
the soviet republics INTO sing
social lietic federst IN wss The econ
omic situation. inasmuch az nearly
all of Russisrs resources had oeen
exhausted The small autonomous
republics. he said. could not ex.s'
without Russia proper. and on me
other hand. Russia could not "a
fsctoriiv re-establiEh her natiohai
life without their combined support.
The present financial condition or the
country neceesitsted unificttion. he
asserted.
There was no opposition 10 the
unifics tion proposal. aud II was sus
sested that specisi congress he
called 10 make the plans a reailtE.
The present congress appointed as
delegates Leon Troisky. cennissar
for war and navy: Leo kamenen.
president Of the Moscow soviet: ~
kalinin. president of the all-Russian
central executive committee. and VI.
Stain aud u. Sokolnikof.
gok oinikoH. emphasizing the impor-
tance of the tax question. cites hs-
ures showing rhst from January. 1s2-
to September TIVE state collected taxes
totaling 85 600 609 gold roubies. which
amounted TO only % kopeks per head
or one-twentieth of the pFt-wa
figure.
Recon- paeads Loan.
To give ar !uea of the situation
confronting the country as result y
the rou6les depreciation. The COM
missar sal that last January seven
teen tril,iOD paper "ouples were ia
circulation, while at the present time
the total WAS 1900 trillion. He
recommended another grain loan IN
the spring in addition to the
gold lottery loan authorized several
raliZe 100, ,860.6a9 gold rcubies.
NJ B0sdanon chairman of the SUI
preme economic council. reported
upon the state o. affairs in industry
and commerce which, he said. had
shown good results. justifyins the
new economic policy. Commerce,
Bogdanoff said. had suffered heavy
losses because OF lack OF capital snd
the unsettled condition of the cur
rency. The speaker asserted tina
private capital is taking small par
in production and that the number g;
factories le3s-I 10 private enter
were fnsignif l.
He offered buttons favsrns tha
attraction o. Ign capital for ifa
national inGt .'es. which. he sa'd
the government cannot establish k;
its own means.