New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-06-27
Total.

Iussa has nlso at her charge other oblg atoms viz:
l. The reimbursement o. wha; are called crea ho'es
nayabe on presentaton, circulating without interest,
Guaranteed by the reserve of precious metals deposited IN
the fortress OF ST. Petersburg, and which may be consd-
cred as Kind of paper money: III
y The reimbursement of what called series bills,
issued successfully according to the necessities OF the
Treasury payable a. eight years date, anu producing
during that interval an interest OF u per GEM.
g. The guarantee given by the government 10 an es'ao-
lshmens ofpuhc credit such as the LoInbardso hosco"
and ST. Petersburg the loan banks and commercial DakS
of ST. Petersburg Moscow Riga Odessa hhhrknvn a.a
other places guarantee which establishes compete
Joint responsibility between the credit Of those Establish
I ments and that of the state. ...
The service OF the debt IN perpe'uai rentcs CONSTITUTES
an insignificant charge for the Treasury the capital OF
that debt never reaches higher sum than OF
silver roubes ,s92, O000o0f but the Importance anu par
t,srly the nature of other debts appears 10 create LOT
Russian finances certain danger uAaer existing crcu"
stances 800 Il, 49,, -.
Japnsrv lsi3 70 81 900 600 of silver rOubes 2i4 nI
ons ~ francs the reimbursement OF which was guaran
teed bv deposit in the fortress Of l46 millions o rou0ies
1854 millions of francs which is sufficient proportion
In March 1854 this metallic was only ITO millions
of yonbls AGA millions of sranc) and since that PERIOD IL
must have been reduced but II difficult 70 determine
the amount of that dminution a. well as the increase
which nav have taken place during the last eighteen
months in The circulation OF credit bills
The series bills kind of treasury bills are issued Dy
series of three millions OF silver roubcs On the lstJanu'
sry 1883 there were OF them IN crcua-
op or fifty. millions OF rubes OoOo 1raics
Since that date there have been issued egnt fresh series
which, added to the previous ones MAKE 'ela SUN VI
cich,yone millions of roubes 324OCOOO0 OF francs, I'M
der the form bills rembusable a; fixed dates Inc 49,
sue of these bills takes place by pubic ukase while that
of the credit bills increases dimshes without It's Delng
made known by official notification. .
The most perilous eventually results without eohirauc
ton from the guarantee given 10 the ESTABLISHMENTS o.
public credit These important and numerous concerns
which carried under the surveillance Vi inc o'ae'
receive deposits the reimbursement of which may be de-
manded within short delay. The amount OF these depos-
its was on the LIST of January 1885, hundred and
tAns of luar
danger Of this of things arises not only from the mass
of capital which may be called for bat in consequence OF
great par of this capital being were locked up IN
investments made under form OF loans landed property,
remturssble by annuities The Lsm5ards, the mechan,
ism of which has been at work for the last one hundred ana
twenty-five years in Russia, and takes the place OF the
Mont de Pete Savings Banks and Credit Fancier have
thus lent 400 600 900 of silver roubles o52Oooooo OF
francs, by way OF mortgage on '2oooOo ne1us o pe'
ents and on e certain number Of houses
In order up the financial situation as regards me
three categores of obligations question, we Will NEIL
ton lst That the LIST January last year, the credit
bills in circulation amounted to 81 millions OF shver
roubes 244 millions of francs, guaranteed by metal
lie reserve Of lac millions OF silver roubles - inios Oh
francs That the series bills formed at me same date
total of 81 millions of silver roubles o muons OF francs
s. That the deposits contded the different establishments
of public credit constituted ensemble OF SOC millions OF
roubes 224 millions Of francs, the announcements %
which may be demanded at any time.
On the hand the budget OF receipts is estimated IN
Russia 200 millions of roubles 800 millions of francs
the half of which is furnished by the customs duties anu
the monopoly of the brandy manufacture.
On the most moderate calculation, the deficit IN these
two branches of the revenue caused by existing ccam-
stances will amount to so 900 000 OF roubles Is there
FORE with revenue reduced $50 900 OF roubles,
900 600 600 Of francs that the Russian Treasury com
peeled meet its expenses, necessarily increased by the
state Of Commerce. agriculture ana manufactures
suffering in Russia, well from the difficulty OF
exporting both by and land from the refusal OF
foreign merchants to grant the facilities for payment which
they have hitherto given This must have for effect to
multiply the calls the public establishments for the
of deposits If the credit of the State and
Of those establishments has yet been directly attacked
is only question of time The day which the State
shall exchange its paper against the precious met
als will be the signal for tremendous crisis and the
should be prolonged this is fact which must inevi
tably take place.