Note 40 — Chapter III · THE PRODUCTIVE FORCES OF THE PEASANTRY.
Reading edition
1 ruble in gold = $0.80. Still there is no gold in circulation in Russia. The paper ruble, since the Turkish war of 1877-78, is worth only 60 per cent. of its nominal value, i. e., 1.00 paper ruble = $0.50. The purchasing power of one ruble is however equal to that of one dollar in New York.