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RUSSIA AND PEACE
94
bureaucrat," said M. Scheinman, "who will never
put his signature to the issue of new notes until
he has received the regular gold cover for them."
On February i, 1923, the balance sheet of the
office for note issues was as follows :
ASSETS. Tchervonets.
Russian gold coin . . . . . . . . . . 866,000
Gold bars .. .. .. .. .. .. 244,703-7
Foreign gold coin . . . . . . . . . . 28,073-7
Stable foreign banknotes (£ and $) at an exchange of
0-9 tchervonets to the £ . . . . . . . . 384,412-5
Pound bilis with 10 per cent. discount .. .. 245,158-6
Short-term securities and bonds in tchervonets with
10 per cent. discount .. .. .. .. 911,069
Total 2,679,417-5
LIABILITIES.
Bank-notes sent to cashier’s department. . . . 1,930,000
Balance available for issue . . . . . . . . 749,417-5
Total 2,679,417-5
The balance sheet of the Russian State Bank to
date March 1 6th this year gives the position thus :
ASSETS. Tchervonets.
Russian gold coin . . . . . . . . . . 866,000
Gold bars . . . . . . . . . . . . 1,020,727-4
Foreign gold coin . . . . . . . . . . 28,073-7
Stable foreign bank-notes (£ and $) at an exchange
of o• 9 tchervonets to the £ .. .. .. 457,912-5
Sterling bilis . . . . . . . . . . . . 304,560
Bills in tchervonets discounted . . . . . . 830,308-1
Bonds in tchervonets with security in goods .. 1,139,646
Total 4,647,226-7
LIABILITIES.
Bank-note issues . . . . . . . . . . 3,700,000
Balance available for issue . . . . . . . . 947,227
Total 4,647,227
It is unnecessary to emphasise the fact that the
amount of tchervonets put in circulation, and which,
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