New-York tribune., 1922-10-29
271 Trillions of RubIes
I'm Circulation I'm Russia
Living Cost Has Increased PSI 1894 Times f,v..
Prices of 1913; Worlds Gold Could Not
Stabilize Soviet Currency

| AHs'shineant sum, in ,k
iight OF the inrensity Of the otbex -
tres submitted. But, expre.sod = =
Russian paper money yalues, the CT
fudEss would be almost a ouadr,las'
fnbjss, which passes the concentia. '''l !
imagination Of humankind.
| So rapid had been the increase
cost OF living, as expressed in tba II y
preesated currency of present pm. sa'
shat IT WIS multiplied by forty a. ~.
September /, 1921, to April 70 ,s,a -
On the former date it was s.3Os a2s :. =
the basis of 100 as of 1919. ~
latter date It was 2s7,s1e 9ga = Wv %
Russia outside of Moscow and pa 81
grad and 2s7,SS4,1as in all Rpssi, NV =
Guiding those cities. ~
The Soviet figures were rsoo,
varying frames Of mind, accards~s :"
the national and political slan, - =, y
expert perusing them. But the, ~ m
| admittedly for the purpose Of aava..
'ng the proposal which had been s,s
mitted by the Soviet governmsn, -.
the Allies grant loan to Russi. ].
assist in dragging the Soviet covo.s
nent ont from the economic and sn.r
eial norass into which it had 2s,,.n :.
the destruction of the former reg;,,..
and the inauguration of comnnni..sa
methods in 1917.
However, while the exne,+. 49,.
every conceivable attitude toward ~
proposal, they were quito thorouebIv
agreed that the figures as to ri.s !,
living costs and quantity Of pane,
money in circulation probably we,e
correct. When they we're subjected ;,
technical analysis they appeared "a
bear out themselves.
II appears that in 1914 imyer;al Pm.
sia had in circulation 1,775,eooOeo
ruhies worth at gold par 5l.4s Amer,.
car cents), based on a gold euara,,r
fund of 1895 100000 rubles. virtua,lv
ruhle Of circulation for ruble Of eoIs
guaranty.
Che more than 27l,oOo ,ooo oooaooo
ruaies in circulation on July I. 1929
were $4,000 times as much as IN 1e,a
lnasmuch as imitation proceeds in e.o.
metric ratio-that is, prices rise fasssr
than volume of circulating medium
the unheard-of rise of paper rubIe
prices is technically accounted for.
One view taken by the experts, or bv
most Of them, was that the submission
of this remarkable official statement bv
the Soviet leaders was motiyated by
the final admission that they had
utterly failed in their disastrous at
tempt to apply the Karl MARKHAM prir.
ciples Of communism. TIE apparent
breakdown, known the world over, was
thus made more clearly apparent by
the amateurs in economics who sought
to revclutionize not only the govern.
ments of the earth but also the eco.
nomic laws to which informed mankind
mad necessarily subscribed.
1t was recalled that Lenine, pres!.
cent of the Soviet Republic, in speech
on October II, 1921, declared TO hisfo,
covers shat his hearers could not bat
remark the sudden change in the eco,
nomic policy of the Soviets, which nov
included elements Of the old eeonorns
.ystem that had not hitherto been sh.
case"
These changes were, az now all
snow, the admission into the Soviet
system Of the principle of private kold.
ng and operating of property, with,
snder the initial step of the coraa-
aistic revolutionaries, had been taken
% the possession and title Of the state
Putting together the report, the ap-
'iication for the loan and the admis
ion by Lenine of modification of the
economic policy OF the Soviets. IL ap-
'ears to be the opinion of many OF the
Allied experts that the communists
eaoers, as gracefully as they may, are
'etracing their course backward from.
he extreme degree Of communism co
which they had gone, and that they
mean, If the loan for from $500, ,ooo,o 600
o $4,000 100000 be granted, the Soviet
communists will try to be good, or at
east better, hereafter.