The Archive · 1926

Ruinous Prices

From the stand point of the tourist, however, the most qas realize that prices are sky-high, A cup of toa will cost 50 kapoks, oF about a shilling, and othe prices range proportionately high. 'This is duc purfly to the fact that "although the external rate of ex-or the international curren-) ey standard is given at such awl such atate, practically the rouble not worth' as much as it is quoted he banks. A tourist wishing to have his gold or sterling changed into Russian roubles would naturally go to one of the state banks for the purpose. If he went to one of the black markets" where mones' is changed, he would receive more roubles for hig foreign money. Coupled with the fact that the external exchange has a fictitious bearing upon the actual internal} vote of exchange of the rouble, it the yet more potent one of the deeveascd buying power of the rouble owing to high prices. Mr. Sehlee say's that the rouble has actually decreased in value internally 39 per: ent. whereas no evidence of this as yet appears in the international quotations,

Text read from the printed page and cleaned; old type leaves the occasional error.

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