Gold of Polubotok
Encyclopedia
The Gold of Polubotok is the story of a large amount of gold
which Ukrainian
Hetman
Pavlo Polubotok
supposedly deposited into an English bank in 1723, and which would have been returned upon the independence of Ukraine with an astronomical amount of interest.
. The story holds that suspecting his imminent arrest, Polubotok secretly deposited 200,000 gold coins (chervonets
) in the Bank of England
, under 7.5% annual interest. The amount, the bank, and the interest vary in different versions: some sources cite two barrels of gold, or 2.5% annual interest, or the Bank of the British East India Company
. In his will, Polubotok allegedly bequeathed eighty percent of the gold to a future independent Ukraine, and the rest to his successors.
. Specifically, their unclaimed deposits at the Bank of England over the previous 200 years were investigated, and were found to total less than the alleged amount of Polubotok's fortune.
In August 1913 a group of 170 individuals was met in Starodub, Chernihiv region who called themselves the offspring of Polubotok. However, none of the offspring were able to documentarally provide the bonifide documents regarding their relationship to Polubotok nor provie any information regarding the account at the Bank of England.
Kotsubynsky approached Hryhory Petrovsky with a plan for the recovery of the fortune.
In July 1922 a meeting took place between Ostap Polubotok, Robert Mitchell (from the Bank of England and because of Kotsubynsky's ailment Consul Peter in Maria-Esensdorf outside of Vienna.
The matter however came to a halt with the removal and repression of Petrovsky and Kotsubynsky.
who initiated an investigation to recover the money. A commission as set up which included historians - Dr Olena Kompan, and Dr Olena Apanovych.
In January 1968 Olena Apanovych published her findings in a paper read at the Presidium. She was later asked not to discuss this "state secret".
According to the investigators on 22 May 1723 Polubotok received a summons to appear in Petersburg. Polubotok thought that the matter was related to his son's secret meeting with Pylyp Orlyk
in France. Polubotok began his trip to the Russian capital 13 July 1723. It accompanied two huge carts of "salt" and "salted fish". The carts continued to Arkhangelsk
and were put onto an English frigate
from where the gold was sent to London
.
The cargo was met in London by Polobotok's son and Pylyp Orlyk and the gold was deposited into the Bank of England with two copies of Polubotok's instructions in Latin. These two documents remain in the Bank of England today.
In the chaotic time of the Soviet Union
's collapse, the story again attracted public attention. In May 1990, Ukrainian poet Volodymyr Tsybulko
announced that if the gold were returned, it would amount to 38 kilograms for each citizen of independent Ukraine. This astronomical figure, about twenty times the world's gold reserve, was achieved due to compounding of interest over 270 years. The heated interest in the Polubotok treasury coincided with a visit to Kiev
on June 9, 1990 of British Prime Minister
Margaret Thatcher
. The Ukrainian parliament
ordered the creation of a special committee headed by the Vice Prime Minister of Ukraine
, Dr. Petro Tronko, which visited London. The gold, however, has not been found. Recently, poet Tsybulko confessed that his speech in 1990 was propagandistic.
Gold
Gold is a chemical element with the symbol Au and an atomic number of 79. Gold is a dense, soft, shiny, malleable and ductile metal. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. Chemically, gold is a...
which Ukrainian
Ukraine
Ukraine is a country in Eastern Europe. It has an area of 603,628 km², making it the second largest contiguous country on the European continent, after Russia...
Hetman
Hetman
Hetman was the title of the second-highest military commander in 15th- to 18th-century Poland and the Grand Duchy of Lithuania, which together, from 1569 to 1795, comprised the Polish-Lithuanian Commonwealth, or Rzeczpospolita....
Pavlo Polubotok
Pavlo Polubotok
Pavlo Polubotok , was a Cossack political and military leader and Acting Hetman of the Left-bank Ukraine between 1722 and 1724.- Biography :...
supposedly deposited into an English bank in 1723, and which would have been returned upon the independence of Ukraine with an astronomical amount of interest.
The Legend
In 1723, Hetman Polubotok was recalled to St. Petersburg by Tsar Peter I of RussiaPeter I of Russia
Peter the Great, Peter I or Pyotr Alexeyevich Romanov Dates indicated by the letters "O.S." are Old Style. All other dates in this article are New Style. ruled the Tsardom of Russia and later the Russian Empire from until his death, jointly ruling before 1696 with his half-brother, Ivan V...
. The story holds that suspecting his imminent arrest, Polubotok secretly deposited 200,000 gold coins (chervonets
Chervonets
.Chervonets is a former currency of the Russian Empire and Soviet Union. Originally a term for coins of purer alloy the name was later applied to various sums in Russian rubles.Before the reign of Peter I, the name chervonets was applied to various foreign...
) in the Bank of England
Bank of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694, it is the second oldest central bank in the world...
, under 7.5% annual interest. The amount, the bank, and the interest vary in different versions: some sources cite two barrels of gold, or 2.5% annual interest, or the Bank of the British East India Company
British East India Company
The East India Company was an early English joint-stock company that was formed initially for pursuing trade with the East Indies, but that ended up trading mainly with the Indian subcontinent and China...
. In his will, Polubotok allegedly bequeathed eighty percent of the gold to a future independent Ukraine, and the rest to his successors.
Russian investigation and recovery attempts
The story first became widely known in 1907, when it was published in the Russian journal New Time by Professor Alexander Rubets. In 1908 the Ministry of Foreign Affairs of Russia ordered the issue to be investigated by the Russian Consulate in LondonLondon
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
. Specifically, their unclaimed deposits at the Bank of England over the previous 200 years were investigated, and were found to total less than the alleged amount of Polubotok's fortune.
In August 1913 a group of 170 individuals was met in Starodub, Chernihiv region who called themselves the offspring of Polubotok. However, none of the offspring were able to documentarally provide the bonifide documents regarding their relationship to Polubotok nor provie any information regarding the account at the Bank of England.
Ukrainian Soviet recovery attempts
A relative - Ostap Polubotok was however found in San Paulo, Brazil. In 1922 he met up with the Ukrainian Soviet Consul - Yuri Kotsubinsky in Vienna and had with him a copy of the 200 year old document attesting to his legacy.Kotsubynsky approached Hryhory Petrovsky with a plan for the recovery of the fortune.
In July 1922 a meeting took place between Ostap Polubotok, Robert Mitchell (from the Bank of England and because of Kotsubynsky's ailment Consul Peter in Maria-Esensdorf outside of Vienna.
The matter however came to a halt with the removal and repression of Petrovsky and Kotsubynsky.
Soviet investigation and recovery attempts
On January 22, 1960 under the Dwight Eisenhower administration the United States proclaimed Ukraine Day. The Soviet KGB reported that England had given money to support this propagandist action and that the money had come from the Polubotok bank account. The matter came to the attention of Nikita KhrushchevNikita Khrushchev
Nikita Sergeyevich Khrushchev led the Soviet Union during part of the Cold War. He served as First Secretary of the Communist Party of the Soviet Union from 1953 to 1964, and as Chairman of the Council of Ministers, or Premier, from 1958 to 1964...
who initiated an investigation to recover the money. A commission as set up which included historians - Dr Olena Kompan, and Dr Olena Apanovych.
In January 1968 Olena Apanovych published her findings in a paper read at the Presidium. She was later asked not to discuss this "state secret".
According to the investigators on 22 May 1723 Polubotok received a summons to appear in Petersburg. Polubotok thought that the matter was related to his son's secret meeting with Pylyp Orlyk
Pylyp Orlyk
Pylyp Stepanovych Orlyk Pylyp Stepanovych Orlyk Pylyp Stepanovych Orlyk (born on October 11, 1672 in Kosuta, Ashmyany county, Grand Duchy of Lithuania (today in Vileyka Raion, Belarus), died on May 26, 1742 in Jassy, Principality of Moldavia (today Iaşi, Romania) was a Zaporozhian Cossack...
in France. Polubotok began his trip to the Russian capital 13 July 1723. It accompanied two huge carts of "salt" and "salted fish". The carts continued to Arkhangelsk
Arkhangelsk
Arkhangelsk , formerly known as Archangel in English, is a city and the administrative center of Arkhangelsk Oblast, Russia. It lies on both banks of the Northern Dvina River near its exit into the White Sea in the north of European Russia. The city spreads for over along the banks of the river...
and were put onto an English frigate
Frigate
A frigate is any of several types of warship, the term having been used for ships of various sizes and roles over the last few centuries.In the 17th century, the term was used for any warship built for speed and maneuverability, the description often used being "frigate-built"...
from where the gold was sent to London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
.
The cargo was met in London by Polobotok's son and Pylyp Orlyk and the gold was deposited into the Bank of England with two copies of Polubotok's instructions in Latin. These two documents remain in the Bank of England today.
In the chaotic time of the Soviet Union
Soviet Union
The Soviet Union , officially the Union of Soviet Socialist Republics , was a constitutionally socialist state that existed in Eurasia between 1922 and 1991....
's collapse, the story again attracted public attention. In May 1990, Ukrainian poet Volodymyr Tsybulko
Volodymyr Tsybulko
Volodymyr Tsybulko is a Ukrainian poet and politician.Volodymyr was born on May 27, 1964 in Khmelna village of Cherkasy Oblast, in the Ukrainian SSR of the Soviet Union...
announced that if the gold were returned, it would amount to 38 kilograms for each citizen of independent Ukraine. This astronomical figure, about twenty times the world's gold reserve, was achieved due to compounding of interest over 270 years. The heated interest in the Polubotok treasury coincided with a visit to Kiev
Kiev
Kiev or Kyiv is the capital and the largest city of Ukraine, located in the north central part of the country on the Dnieper River. The population as of the 2001 census was 2,611,300. However, higher numbers have been cited in the press....
on June 9, 1990 of British Prime Minister
Prime Minister of the United Kingdom
The Prime Minister of the United Kingdom of Great Britain and Northern Ireland is the Head of Her Majesty's Government in the United Kingdom. The Prime Minister and Cabinet are collectively accountable for their policies and actions to the Sovereign, to Parliament, to their political party and...
Margaret Thatcher
Margaret Thatcher
Margaret Hilda Thatcher, Baroness Thatcher, was Prime Minister of the United Kingdom from 1979 to 1990...
. The Ukrainian parliament
Verkhovna Rada
The Verkhovna Rada of Ukraine is Ukraine's parliament. The Verkhovna Rada is a unicameral parliament composed of 450 deputies, which is presided over by a chairman...
ordered the creation of a special committee headed by the Vice Prime Minister of Ukraine
Prime Minister of Ukraine
The Prime Minister of Ukraine is Ukraine's head of government presiding over the Cabinet of Ministers of Ukraine, which is the highest body of the executive branch of the Ukrainian government....
, Dr. Petro Tronko, which visited London. The gold, however, has not been found. Recently, poet Tsybulko confessed that his speech in 1990 was propagandistic.
Sources
- Hetman gold detective, Ihor Malyshevskyi, Zerkalo NedeliZerkalo NedeliZerkalo Nedeli , usually referred to in English as the Mirror Weekly, is one of Ukraine’s most influential analytical newspapers published weekly in Kiev, the nation's capital. It was founded in 1994, and as of 2006 its print circulation was 57,000. It offers political analysis, original...
, #50(374), December 22, 2001. (in Russian, in Ukrainian) - A fool is enriched by a notion, or why Polubotok's will could not have been written, Oleh Havriushyn, Zerkalo NedeliZerkalo NedeliZerkalo Nedeli , usually referred to in English as the Mirror Weekly, is one of Ukraine’s most influential analytical newspapers published weekly in Kiev, the nation's capital. It was founded in 1994, and as of 2006 its print circulation was 57,000. It offers political analysis, original...
, #8(383), March 2, 2002. (in Russian, in Ukrainian) - Once again on chickens with antlers, and on mentality, Ihor Malyshevskyi, Zerkalo NedeliZerkalo NedeliZerkalo Nedeli , usually referred to in English as the Mirror Weekly, is one of Ukraine’s most influential analytical newspapers published weekly in Kiev, the nation's capital. It was founded in 1994, and as of 2006 its print circulation was 57,000. It offers political analysis, original...
, #12(387), March 29, 2002. (in Russian, in Ukrainian)