The state of war with Soviet Russia, however, continued until the Peace Treaty of July 12 1920, whereunder the Lithuanian claim to Vilna and Grodno was recognized by the Bolsheviks and Lithuania received three million rubles in gold and 100,000 hectares of forest land for exploitation.
The total losses suffered by private citizens and corporate societies until the advent of Bolshevism is valued at 1,930,000,000 gold rubles; Soviet Russia inflicted losses to the amount of 953,000,000 gold rubles; German occupation and warfare to that of 481,000,000 marks.
Through confiscation of money, and deposits in banks removed to Russia, cancellation of shares, destruction of private and public bonds, and loss of interest, a loss of 379,- 000,000 gold rubles was caused by Russia, and 6,000,000 marks by Germany.
The German industrial capital in Riga amounted to 40,000,000 rubles before the war.
The rate of exchange had become adverse (by May 1921 £i =1,850-1,900 Latvian rubles), and imported goods were getting more and more expensive to the consumer.