The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-06-25


Total. NEUTRALITY-SUSPICIOUS.. 4O1 ,552, I'LL
Russia has also at her charge other obligations,
viz:
!. The reimbursement Of what are called credit
notes. payable presentation, circulating without
interest, guaranteed by the reserve Of precious
metals deposited in the fortress of st. Petersburg,
and which may be considered as kind Of paper
2. The reimbursement Of what are called series
bills, issued successfully, according to the neces-
stiles of the treasury, payable at eight years date
and producing during that interval an interest Of
Al per cent.
s. The guarantee given by the government to all
establishments Of public credit, such as the Lom-
bards of Moscow and ST. Petersburg, the loan banks
and commercial banks Of st. Petersburg, Moscow,
Riga, Odessa, Kharkhoh and other places, guaran-
tee which establishes complete joint responsibility
between the credit Of those establishments and that
of the State.
The service of the debt in perpetual rentes con.
the capital of that debt never reaches higher
than 223 900 Of silver roubles 1892 900 000f);
but the importance, and particularly the nature OF
other debts, appears to create for Russian finances
certain danger under existing circumstances.
Thus the issue of credit bills amounted on the
18th Of January 1861 to 81 900 900 Of silver roubles
Il PA 900 600 of francs), the reimbursement of
of 100000 900 of roubles 1854 100000 of francs),
which is sufficient proportion. In March, 1854,
this metallic reserve was only l6,000O0O Of ronbles
(464 1000 900 Of francs) and since that period it
must have been reduced; but it is difficult to de-
termine the amount OF that diminution as well as
the increase which may have taken place during the
last eighteen months in the circulation Of credit
bills
The series bills, kind of treasury bills arc issued
by series Of 100000 of silver roubles. On the LIST
OF January 1853 there were nineteen series of them
in circulation, or $1,000 600 of roubles (228 900
Of francs) Since that date there have been issued
eight fresh SERIES which, added to the previous ones,
make total Of 81 900 of roubles 1924 900
OF francs under the form of bills reimbursable at
fixed dates. The issue Of these bills takes place by
public ukases whilst that of the credit bills in
creases or dminishes without its being made known
by official notification.
The most perilous eventuality results, without
contradiction from the guarantee given to the esab
lishments of public credit. These important and
numerous concerns, which are carried on under the
surveillance Of the State, receive deposits the re-
endorsement Of which may be demanded within
shcrt delay.
The amount of these deposits was on the LIST of
January, 1853, BOG millions of silver roubles (3,224
millions Of francs). The danger of this state Of
things arises net only from the mass Of capital
which may be called for, but in consequence Of
great part Of this capital being, as it were locked
up in investments made under form Of loans on
landed property, 'reimbursable2 by annuities. The
Lombards, the mechanism of which has been at
work for the last l25 years in Russia, and takes the
place of the Mont de Piete Savings Banks and
Credit Foncier have thus lent 463 millions Of silver
roubles Il ,s52 millions of francs), by way of mort
gage on 5000, 600 heads Of peasants, and on GER
tain number Of houses.
In order to sum up the financial situation as far as
regards the three categores of obligations in qucs
ton, we will MENTION, That on the LIST Of Janu-
ary, last year. the credit bills in circulation amount
ed to 81 100000 Of silver roubles q ga 900 600 Of
aSsr x e tau ooo es o.
2. That the series bills formed at the same date
total Of 100000 of silver roubes (228 000 600 OF
francs) 3. That the deposits confded to the differ
ensemble of 506OO0 900 of roubles 1924 900 600 OF
francs) the reimbursement Of which may be demand
ed at any time
On the other hand, the budget of receipts is csti
mated in Russia ut 200 900 900 OF rOubes $500 900
of francs) the half of which is furnished by the
toms duties and the monopoly Of the brandy manu-.
facture.
On the most moderate calculation, the deficit in
these two branches of the revenue caused by exist
ing circumstances will amount to fifty millions Of
roubles. II is therefore with revenue reduced to
one hundred and fifty millions of roublcs (six hun
bred millions Of ancs that the Russian treasury Ia
compelled to meet its expenses necessarily increas
ed by the state Of war. Commerce, agriculture, and
manufactures are now suffering in Russia, as well
from the difficulty of exporting, both by sea and
land, as from the refusal of foreign merchants to
hitherto given. This must have for effect to multi
ply the calls on the public establishments for the
reimbursement of deposits. II the credit of the
State and of those establi hments has not yet been
ureCtly altatkeu, IL ~ only IucsJioH Vi tiIe Inc
day on which the State shall cease to exchange it's
paper against the precious metals will be the signal
Of tremendous crisis; and il the should be pro-
longed, this il fact which must inevitably fake
place.
News from Ireland.
The Dublin correspondent Of the London Tins,
writing on the sth inst, says:It appears by the
Galway papers Of yesterday that another effort is
now being made 20 connect New York with the
capital Of Conuaught by steam navigation. Three
gentlemen OF the former city, who profess TO feel
warm interest in the fortunes of lreland-namely,
Messrs. Dudley Persse and Horace Greeley and Capt
John Graham--have purchased the splendid steam
ship William Norris, now lying on the stocks ut
Long Island. Their purpose j. To run her between