Word: chervonetz
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...Soviet unit of currency, the chervonetz, continued last week officially at par: $5.15. None the less rumors were current that it had declined fully 17% on the secret "Black Bourse" of Moscow...
Late in the week, three important Finance Ministry officials-Volin, Chepeliovsky and Rabinowitch-were executed, all charged by the Soviet "political police" with "abetting speculation tending to depress the chervonetz...
...only when his army was disintegrating about him because of bolshevist propaganda. One of his sons died in the Red Army and another in the White Army which attempted to overthrow the Soviet regime. At the time of his death he was drawing a pension of $150 (about 29 chervonetz) a month from the Soviets...
...remote and inaccessible part of Siberia, were ordered to depart within one month by the local Soviet. Henceforth only Russians will be allowed to "work" the region, and it is alleged that they will be forced to exchange all gold mined for Soviet currency at a rate of 2½ chervonetz* ($14) an ounce. (Refined gold is worth $20 an ounce...
Currency. Russian currency was put on a firm gold foundation, the chervonetz (new currency) remained stable and was for the most part quoted at slightly over par on European exchanges. In the first three quarters of the year, however, 180,000,000 rubles (gold value) were issued without gold security...