New-York daily tribune., 1854-09-01
all the gres. commercial, industrial, aai financial


try IN the hands OF the State ard tbs, on the day
when the State ia embarrassed the country ia runed
ard then, BY natural consequence private ca'asiro
Ihes react 10 n frghtful manner on the public
hIsucts.
Tie last report made 70 the Czar by the Minister of
FIonce statee that on the lst of January is53 the
corfded by private individuals TO the credit
tail simeuts Of The empire exceeded the sum Of three
milHards divided follows Fr.
To iwo Lombard, Of Petersburg and MOSCOW s6J s5
To charitable esisoishmenis Hs Ssg sS
Total ofaerosits. 5ss 40
These accounts concern Russia alone. Poland h is
its special establishment the Bank Of Warsaw the
deposits in which amounted, according TO the last
reiurn TO l3s millions Of francs, which added 10 the
above mentioned amount form total of three mil
iards three hundred aud sixty millions ef francs
payable ON the demand Of the depositors within
delay which according 10 The importance Of the sums
varies from eight days to three months.
The Russian Government. if kept for any time
in check viii be very shortly placed in the alterna
tive either of becoming bankrupt or of bearing the
weight of all the individual disasters which its policy
Il all have provoked. And let il be well remembered
that the question is moi Of a temporary embarrass-
Inent for Russia: the question is Of war unprece.
dented for her with two great maritime powers: of
war which from the commencement oblges her to
keep uy from seven to eight corps darmGe at three
or four hundred leagues distance from each other,
and make extraordinary levy of 500 900 men, all
seIfs, who have become free without any indemnity
10 their lords OF awar in short which depnves these
same lords, the prOprietors of the soil not only Of
their instruments of labor but the produce Of their
work, in corD flax hemp, wool, tallow timber, met
ais &c.
The serf is estimated a. an average value Of O0Of
The levy Of 100000 seIfs for the is therefore
equivalent TO tax of 500 0e0 00Of laid on landed cap
tal. The serf must, moreover be completely equip
ped by his lord Calculate the cost Of this equipment
at only .oof each, and you have further tax of
100 O0O,0OOf
nd
exports of Russia by the Baltic and the Black Sea
amounted 10 more than 325 600, 000f The presence
of the combined fleets in those seas therefore without
striking blow, infics loss on the fortune of Russia
Of 49,, 900 000f.
What want Of money will be- therefore caused
by such a state of things in every famy-what per-
iurbatipn in every interest, and what perspective
for the imperial establishments in which cOncen-
rated, in the shape of deposits payable on demand,
the greater part of the savings Of the country.
The imperial establishments Of credit, which are in
Russia public ones since the Car may not only say,
with Louis Quatorze " J. etat, cest moi :; but also,
d" La banque, cest moi are at this moment under
the weight of demand for reimbursement of three
milliaros three hundred and ffty.eght millions Of
francs, which no longer exist, since the State has
applied them either 10 its personal wants, or to unpro
ducive expenses or on mortgage loans, repayabe at
long dates.
All transactions are thus deranged, and oil fortunes
compromised by the fact of the immense reduction of
the rate of exchange Paris, which causes the roube
to lose fourth of its value and by the prohibition
of the export of gold.
q Landed properly has 10 pay tax OF GOO 600 Ooo in
consequence of the extraordinary levy of 100000
serfs whom their enrolment raises 10 the dignity of
freemen-as much as man can be free in such
country.
Tie occupation of the Beltic and of the Black Sea
by combined fleets deprives Russia Of 1925, 900
Of francs. being the amount of her exports by these
two seas during the year 1852. sole resource con-
sequenty remains to Russia in order to avoid bank
ruptcy and that is the system OF asslgnas, one being
about equal to the other. According TO the last state
rnent Of the Minister of Finance. statement from
which all these figures borrowed, there existed al
ready oD January l. 1883 l,2f5 600 900 Of notes of
credtin circulation DIVIDED mo sums oi lOo DO 20,
10 s. 3, and even rOuble. Since then, the ukase of
the 2sth of December has ordered an omission of
90 600 600 of francs which carries the circulation of
such notes without reckoning what may have been
issued during 1853, to ,4G9 900 600 francs
But these notes are not the only paper money of
Russia. The Treasury likewise issues notes in series
of 2O0f. each, not payable in specie, but bearing in
terest at II kopecks per month and they gener-
ally preferrt to notes of credit. Well then on the
lst JAN, 1853, there existed IN circulation gao Hlh9nS
of these notes in series. ukase of the 30h of Janu
ary last has authorized the creation OF SIX new seres
representing u millions Of francs or in all BAG mill
iof g. which sum- Joined TO the ,4Gg millions OF notes
of credit ives total Of 1,s4 millions of francs in
pspor money. Never certainly, at any time, bad
that figure been attained; and according TO the de-
laraiiOis Of the most experienced Russians not only
IL cannot be exceeded, but cannot be maintained
without certain d, probation. And II is that which
will inevitably arrive, if only the present situation
be prolonged, soon as smuggling shal have ies-
seaod the circulation Of gold, the presence OF which
ipdispen ensable in Rassa. even in time OF peace aud
prosperity to preserve to her paper money Its nom
ina value.
If any one considers the contrast which exists, in
financial and economical point Of view, between the
Government of St. Petersburg and those of France
and ENGLAND the difference is q marked one. How
)iqbt in comparison is the charge which would weigh
on these latter III the war should continue In
Russia all the productive resources have been para
lived whereas thev have remained intact with the
Cars adversares The capital absorbed IN the strug-
Gle will be reproduced and more than reproduced by
The incessant activity Of business III France ana Eng
land Here the plows turn up the soil as usual while
In Russia they remain inactive. Raw materials arrive
from abroad to ourmanufact0res, and feed the pubic
tressury; goods are exported with The same iacity
institutions of creot in full operations railways
are being completed all the works OF pubic utlilty
follow their course without impediment 1t depends
even on the confidence of capitalists, aud on tue
initiative Of the public authorizes both at London
and at Paris TO give them lively impulse; whereas
in Russia neither the Government, absolute as Is
nor pubc confd fdeDce, nor the tanatcsmo OF tHe pOpta
tion can diminih the absolute ruin OF all men Tor
times or ward of the crisis Does not tins contrast
suiice TO show under light the excellent
strength of the position which the Western Powers
have assumed The Gar has been caught IN ms
own snare. Let us, then, persevere; and indepeho-
emily of the military glory which we ought 10 oe eager
10 pursue after having been 20 long deprived OF II,
perseverance alone will ensure to us considerable ad'
yantages over the common enemy. lie VINO pre-
tended at the commencement TO wear our our Paonce
hy his diplomatic combinations will, before long,
feel the full weight of so unequal struggle