Depreciated ruble
He argued for a gold standard and against either abimetallic standard or a silver standard, insisting that those who favored either were mistaken in the belief that silver, which had fallen in value, would soon rebound.
As for the conversion rate, he favored making the gold ruble worth one and ahalf paper rubles. His views were supported by the committee and approvedby the sovereign.3 Next stop was the State Council, and that is where Witte encountered real trouble. Some of the opposition was the product of personal animosity, but more important was the hostility expressed by the many members of that body who were landowners and who, like others of their class, tended to believe that the depreciated paper ruble worked to their advantage.
Could you explain how depreciated paper ruble worked to their advantage? I suppose they were selling whean and stuff abroad
Top answer
Vladv Could you explain how depreciated paper ruble worked to their advantage? You need a Russian history scholar with a minor in economics. We're not seeing one, are we?
- Vladv Could you explain how depreciated paper ruble worked to their advantage?
- You need a Russian history scholar with a minor in economics.
- We're not seeing one, are we?
- I guess you get me.
- Perhaps the landowners paid people in the shinplasters, and sold their goods for gold.
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VladvCould you explain how depreciated paper ruble worked to their advantage?
You need a Russian history scholar with a minor in economics. We're not seeing one, are we? I guess you get me.
Perhaps the landowners paid people in the shinplasters, and sold their goods for gold.
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