Word: rublee
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When a Russian needs more food or clothing than his ration card entitles him to buy, he can go to the special Torgsin stores which sell only for valuta (foreign money), if he has any valuta-a difficult thing for a Russian to obtain. Last week the bars went down...
Throughout the rest of the Soviet Union, state grain collectors (supported where necessary by troops) will continue their unpleasant job of "collecting" as much grain as they can lay hands on, paying for it at the State's fixed (low) price in rubles. Nominally worth 50? gold, the Soviet...
In 1905 Equitable Life Assurance Society of Manhattan sold a 10,000-ruble, 20-year endowment policy to Nisson Goldberg Rudkowsky, wealthy St. Petersburg macaroni-maker. Two years ago White Russian Rudkowsky, now in Manhattan, brought suit to claim the paid-in value of his policy. For in 1920. after...
Last week New York Supreme Court Judge Alfred Frankenthaler ruled that Equitable must pay the policy's paid-in value of 6,500 rubles at the 1925 rate of exchange. This amounts to $3,300 against the pre-Revolution valuation of 77? per ruble, or $5,000. On another...
If the ruble is really worth 8? the Government is breaking even. If the ruble is really worth less than 8? the Government is making a profit.