Word: rublee
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Inside Russia her rubles are legally worth 51? each. By special treaty Soviet rubles bid at Japanese fish auctions are legally worth 32.5 sen (16?). These facts are plain. But recently at Irkutsk roving Correspondent Henry Wales of the Chicago Tribune stumbled upon a ruble puzzle.
Puzzle: Mr. Wales was told at the Soviet gold mines in Irkutsk that the cost of producing $1 worth of gold is twelve rubles, or $6.12 (if the Soviet valuation of 51? be placed upon each ruble). Is the Government then losing $5.12 every time its mines turn out $1...
Previously a Russian has had to apply for a ration card in order to buy a pair of shoes or a scuttleful of coal. Having obtained this card (after wrangling and explanations as to why he needed shoes-it being no explanation to wiggle one's bare toes) the...
Nobody knows what Russian production costs are. They are figured in rubles. Nobody knows what a ruble is worth in gold, the only true yardstick.
In the mind of Diarist Knickerbocker lurks no doubt. "With the ruble at its actual value," he wrote, "the Soviet Union is exporting, in all cases, at a large profit." The Red State, therefore, is not guilty of "dumping abroad," is guilty of inflating its own currency.