According to a Russian newspaper, the Soviet printing-presses are turning out the amazing total of 7,000,000,000 roubles daily. This is a figure even more appalling in its immensity than the average man could have dreamed of, and the inevitable question must arise, why do they do it? Part of the policy of the Bolsheviks, it has been fred: stated in the past, is to ruin alf currencies as paving the way to their scheme of world. reformation, but it might have been thought that the Russian currency was already sufficiently corrupted as not to require fresh daily additions of such magnitude to its rottenness. The Bolsheviks, if they still have the intention noted above to turn the world to their way of thinking, may easily have cooked their goose by all this excessive printing, for Gresham's law will hardly work under such conditions. Gresham laid down the principle that a bad currency will drive out a good one, but, it must be noted, only so long as the bad one possesses purchasing power. When that condition ceases, the law no longer operates, and another rule applies. This is already apparent in parts of Siberia where the yen now holds the field and is unlikely, except for political reasons, to lose its pre-eminence.
Text read from the printed page and cleaned; old type leaves the occasional error.