The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-04-20
MR.. cAMBRELENG's ACCOUNT OF CUR
RENCY In RUSSIA.

The following is extract from lecture recently
delivered in-New York, by Mr. Cambreeng, on Rus
sia 1t will be seen that the Wing administration in
the fiscaty, have copied Calharine, Alexander, and
Nicholas pretty closely. The first in heI paper cur
rencythe second, in his bank and branches and dis
counting bills ofexchangea the last in the scheme
Of receiving deposites in exchange for imperial bank
or Treasury notes. redeemable 10 gold and silver.
"Rus had her funding system and paper currency
Her debt funded and unfunded, amounts to three or
four hundred millions Of dollars varying with the
amount of her paper imperial bank note currency,
which is constantly fuctuatng in value as well as
amount. Her revenue and expenditure each appears
to be about hundred millions of dollars But the
financial reports of that Government present only
very limited view gifts vast receipts and expenditures,
the Crown great manufacturer in every branch
miner of every descrption-an extensive banker
a large agriculturalist and eminent merchant 1t is
from these sources besides provincial exacons OF la
Dor commodities-none Of which are embraced in
their financial reportstha Russia draws her supplies
for her armies, fleets, and Governments. he refer
red to its ancient origin the only apology for IT, and
described the mischevous tendency of such an UNI
warrantabe interference of Government with the trade
and industry of Russia.
''Catharine ii. established her Bank of Assinat in
l76S. The first issue forty millions of paper
roubes redeemabe in current money,.by which
she meant copper but the value of the paper roube
about equal to the silver roube and continued SO
for about twenty years In 1897 another issue OF GO
millions was made, and the paper roube began to
depreciate. The faith Of the Crown was pledged
that the aggregate amount of one hundred millions
should never be exceeded; but in three years 0790)
the faith of the Crown violated and continued to
be violated in each succeeding year for twenty years,
till 1910, when this imperial bank note currency
amounted to five hundred and seventy-seven millions
of roubles. The faith and wealth of the Crown
were then pledged for their redemption With these
successive issues they had declined in value, and i'll
1871 one silver roube equal to four in paper
The present Emperor has endeavored to raise their
relative value by ukase The last was issued on the
lst july 1889; snce when, silver rouble is ex-
changed for three and half in paper; but as the
prices Of every thing have been fixed in the paper
roube at the rate of four for in silver, for 80
years past the practical effect of these imperial
DEGREES is to levy indirect tax upon the consumer
"Catharne' IS Loan Bank established in 1856.
"The Imperial Bank Of Commerce established
in 1878, by the Emperor Alexander. That bank has
branches in the different cities Of the Empre-ds-
counts bills of exchange-makes advances mer-
chandise--allows four per cent deposites, and
charges six--and since the LIST January, 1910, re-
ceves deposites in exchange for description Of
bank notes of various denominations, small and large
equivalent to the silver rouble In the first quarter
after that authority given about ten millions
were issued. w."