Page:Michael Farbman - Russia & the Struggle for Peace (1918).djvu/75

 Rh tion. As in all other belligerent countries, an appeal was made for the return of gold coin to the banks in exchange for paper money. In this country, as well as in France and in Germany, such appeals brought in  many millions of gold money back to the State Banks. But in Russia gold coins were hoarded and all appeals for their return were useless. There was not even any attempt to conceal the hoarding.

But it was not only gold which disappeared. At the beginning of the retreat of the Russian Army from the Carpathians even silver money vanished from circulation. This led to veritable panic among the poor, and they too began to hoard money. But they had to be satisfied with copper. Thus the rapacious instincts of the rich, who stole the country's gold and silver from the people, led to a revenge by the poor, who proceeded to hoard the copper.

However, that was not yet the end. The propertied classes continued to hoard money, and when gold and silver was in safety they began to withdraw paper money—the more valuable notes of 1,000, 500 and 100