On the Issue of the Activities of Foreign Banks in the Far East of Russia in 1922– 1925

Abstract

Using documentary sources, some published here for for the first time, this article aims to analyze and summarize the activities of branches of foreign banking institutions in Vladivostok after the end of the Civil War and the military intervention of allied troops and the establishment of Soviet power in the Russian Far East from 1922 to 1925. The role of branches of foreign banks in the economy and money market of the region during the period of foreign intervention is revealed. A brief description of the branches of foreign banking institutions (Japanese Chosen Bank, Yokohama Haste Bank, and English Hong Kong Shanghai Bank), which continued their activities after the evacuation of foreign military units from the region, is given. The necessity of the presence of these institutions in the territory of the Russian Far East in the first years of Soviet power is determined in view of the close connection of the region with foreign markets and the importance of Manchu transit, which takes place to a large extent with the participation of these banks. The article shows the inability of the “young” Far Eastern Region, the industry and economy of which were in decline and were just beginning to recover, to resist the activities of foreign financial institutions. It was impossible for Soviet banking institutions relying on hard foreign currency to begin operations in the region quickly to replace foreign banks. The main economic indicators of the financial activities of these banking institutions in the period under review and their relationship with the Soviet financial and economic bodies of the region are given.