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Архівні документи
Українська Держава (1918 р.)
Financial Treaty between Ukraine, on the one hand, and Germany and Austria-Hungary, on the other hand.
Signed at Kief, 15 May, 1918 (“Neue Freie Presse”)
/Deutsche; English/
Signed at Kief, 15 May, 1918 (“Neue Freie Presse”)
/Deutsche; English/
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15.financial(2).jpg)
By treaties which have latterly been concluded in Kief between representatives of the Central Powers and of the Ukraine, payments for supplies of grains and other necessities of life from the Ukraine have been guaranteed, as agreed upon in the Peace Treaty. AustriaHungary and Germany have arranged with the Ukrainian Government a loan of 400,000,-000 Karbowanetz. The Central Powers agree to pay half of the amount in Kronen, the other half in Marks, on the basis of a fixed ratio by which 2 Kronen or 11/3 Marks equal 1 Karbowanetz. According to this arrangement, Austria-Hungary and Germany will receive from the Ukrainian Government the legal tender of the country, with which to pay the peasants for the necessities of life procured from them; and the Government of the Ukraine, on its part, will receive Marks and Kronen to be used to cover the bank notes that will be issued by the new Ukrainian issuing bank. The Karbowanetz is thus not covered by bullion, but by Marks and Kronen. The ratio is the same as that chosen for Belgium and Roumania, where an issue of notes by the bank established by the Central Powers was covered in Marks and Kronen. In this way, the legal tender of the Ukraine is freed from the standard of the Rouble and secures an independent basis for its covery in Marks and Kronen. Hence it has been made possible to establish a fixed ratio between the Ukraine notes and the legal tender of the Central Powers. In the Peace Treaty with the Ukraine the gold ratio has been so determined that 1,000 German Imperial Gold Marks = 462 Gold Karbowanetz = 462 Gold Roubles, or 1,000 Austrian and Hungarian Gold Kronen = 393 Karbowanetz, 78 Gold Grosch of the Ukraine = 393 Gold Roubles and 78 Copecks, of the former Russian Empire.
As regards the Treaty, we have the following telegraphic report:
Between the representatives of Austria-Hungary and Germany, on the one hand, and the Ukraine, on the other hand, treaties were signed this day in Kief, in accordance with which the Ukrainian Government places at the disposal of the Central Powers the sum of 400,000,000 Karbowanetz. The counter value will be paid, one-half in Kronen at the rate of 2 Kronen, and onehalf in Marks at the rate of 11/3 Marks, for 1 Ka.rbowanetz. Through these treaties, representing the greatest financial transaction of Austria-Hungary with neutral countries in the world war, the Central Powers are assured of the fixity of the Ukrainian monetary standard necessary for their importations from the Ukraine. At the same time, the Ukraine is afforded the first bases for the establishment of an issuing bank, whoso creation is necessary to afford a sound currency to the young Ukrainian financial system and to protect it against further consequences of unavoidable and progressive depreciation of the value of the Rouble.
