The inflation, inflation panic, and speculation in the conditions of “free trade” during the Civil War (on the basis of the newspapers of the anti-Bolshevik south of Russia)

The article analyses materials on financial and trade issues published in major newspapers on the territory of Russia's “White South” in 1919. The main attention is drawn to the information and assessments used in the articles related to money and goods circulation and measures of A.I. Denikin's government for its regulation. It is concluded that the articles about money and goods circulation and the government's regulation efforts destroyed the population's confidence in paper money. In the conditions of the Civil War and economic collapse this inevitably led to the sharpening of the currency circulation crisis, the collapse of the ruble, the Inflation, Inflation Panic, and Speculation on the territory of Russia's “White South”.