+----------------+-----------------+----------------+-----------------+ | | Volume of Note | Number of | Value of Note | | AUSTRIA. |Issue in Milliard| Paper Krone |Issue in Million | | | Paper Krone. |= 1 Gold Krone. | Gold Krone. | +----------------+-----------------+----------------+-----------------+ | June 1920 | 17 | 27 | 620 | | December 1920 | 30 | 70 | 430 | | December 1921 | 174 | 533 | 326 | | March 1922 | 304 | 1,328 | 229 | | June 1922 | 550 | 2,911 | 189 | | September 1922 | 2,278 | 14,473 | 157 | | December 1922 | 4,080 | 14,473 | 282 | | March 1923 | 4,238 | 14,363 | 295 | | August 1923 | 5,557 | 14,369 | 387 | +----------------+-----------------+----------------+-----------------+ +----------------+-----------------+----------------+-----------------+ | | Volume of Note | Number of | Value of Note | | RUSSIA. |Issue in Milliard|Paper Roubles[B]|Issue in Million | | | Paper Roubles. |= 1 Gold Rouble.| Gold Roubles. | +----------------+-----------------+----------------+-----------------+ | January 1919 | 61 | 103 | 592 | | January 1920 | 225 | 1,670 | 134 | | January 1921 | 1,169 | 26,000 | 45 | | January 1922 | 17,539 | 172,000 | 102[C] | | March 1922 | 48,535 | 1,060,000 | 46 | | May 1922 | 145,635 | 3,800,000 | 38[D] | | July 1922 | 320,497 | 4,102,000 | 78 | | October 1922 | 815,486 | 6,964,000 | 117 | | January 1923 | 2,138,711 | 15,790,000 | 135 | | June 1923 | 8,050,000 | 97,690,000 | 82[E] | +----------------+-----------------+----------------+-----------------+ [B] “Gosplan” figures for 1923, Moscow Economic Institute figures previously. [C] The increase is due to the reintroduction of the use of money in State transactions as a result of the New Economic Policy. [D] Lowest point reached. [E] The decrease may be attributed to the introduction of the chervonetz (see p. 57 below).