The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-11-23

--
Russian s,nanoes, Trade and Commerce.
[Fron LIS Nord of oct. q, 1891
No one is ignorant of the fact that the present
war against Russia is not and has never been popu
lar in France, notwithstanding all that has beer
done to excite the passions, to deceive public opn
ion, and to create by every means which act up0T
the senses and the Imagination, q Fictitious popu
hrity.
The governmental press-there being no o,he
press now in France-has assumed the task on on
side to Justify aggression by imposing upon lei
minds with the pretended danger Of the prepon Ter
ant and invading power of the Colossus of the 9th
which, they are constantly repeating, menaces tn,
security OF all the States Of Europe and the Other
to tranquillize the public in respect to the
quences OF the war; and of the sacrifices which 1t il
Imposing upon the nation, by making little OF the
resources OF Russia and of its means OF resistan
by representing her as t0tterng and in distress f
the commencement of the struggle. These are evi.
IDENTITY two orders OF ideas which mutually contradict
each other.
But the official and oflicons press did not plume
ITSELF particularly at the commencement OF the war
on being logical and consequent. 1t would have
chucked itself at the simplicity of any of it
readers who might have required from it that proc
Of title to the confidence OF the public. 1t lived
from day to day; it blew hot and cold it worked
out sometimes one theme, sometimes another; tor
turing facts according to the exgcncies Of the mo
ment. Knowing besides, that it addresses hume
rous auditory, OF whom three fourths are composed
OF simpletcns, who not very profound thinkers
who believe in everything that is printed, and who,
too indolent to reflect, and form their own opinion,
prefer to buy one ready made-made every morn
ing at the moderate price OF two sous This task OF
French journalism was 80 much the more easy
~ contradiction was forbidden, and as all issues
were Theoretically sealed against truth
Those who have followed with any attea lveuess
the phases of the Eastern question, will Doubtless re-
collect the articles OF the Monftstr the Russian
finances. The late Mr.. Leon Faucher, treating as
serious the revelation OF the official sheet aud only
knowing Russia specifically. published in the
1.rA
1854, very dcplorable statement of the financial
situation OF that country. This picture traced by
skilul hand and familiar With that sort OF matter
was filled With very lucid reasoning and inductions
but which leaned over from the found alton, owing
to the erroneous incomplete data, and contained
more than one error in figures In this work of the
publicist Of the Rfrue DIES Deur Mondes as well as
In the articles of the Monite,ty Russia was repre-
sented as financially exhausted from the beginning
OF the campaign, her industry and her commerce
ruined, aud all her resources paralyzed. On this
occasion the French publiciats appe ired, even in
their exaggeratons to have entirely overlooked the
old proverb, He who wishes to prove too much
prov es nothing"
The errors which swarmed in these publications
have been rectfed in their tinc and the reasonings
which accompanied them have been refuted by aii-
thentic facts. Experience has come to the support of
these refutatops; but az the AngloFren h press,
we'll as some German journals, continue to dwell
upon this theme i'll their style, reproducing the sane
errors, accompanied by arguments more than once
this subject furnished by the terrible war which has
continued for year and half, are for the most
part unknown to the foreign public, it will not be per-
haps superfuons to point them out for the edicaton
OF those OF OR readers who do not desire to be de-
eeived on question so important in present ciroum-
stances that of the financial resources of Russia
These results Of experience, the authenticity aud
exactitude OF which We can guarantee, we shall
oppose without commentaries to the stale predlc-
lions of the Moniteur and Of the late Mr. Leon Fau-
cher
/. 1t was said that Russia, after having com
petey failed il her attempts to effect foreign loan
had to have recourse to forced loan at home.
In this assertion there was double error. The
forced loan has existed Chat has been already
stated and everybody in Russia knows it, and as to
the loan opened abroad for fifty millions Of rolbes,
" mas been covered up TO the last obous not
withdrawing oil the tricks Of Anglo-French policy
More recently still, the Augsburg Uacersa CASTLE,
In an article also devoted 10 the finances of Russia
states that this loan has been contracted on cnudi-
tons 30 oDerous that Russia il obliged to renounce
henceforth this external resource. The fact is that
the loan of five per cent negotiated in Ii ne of war
Mt the rate OF over ninety per cent Is still much less
Advantageous to the State than all tie recen
Austrian loans contracted in time of peace.
2. IL was said that the exchange has fallen
more than twenty per cent, that the duciary money
will soon have the fate OF bills which have los
threefourths their value, and that failures are oc
curing ard aeon nulatng everywhere.
The rate or exchange having moriental1ly under
gone fall, occasioned by the prohibition Of export
ing gold, and by the elimination of the export o
Russian products, again recovered of itself, and
has been maintained throughout the war with little
Or no variation, at the rate of five to six per cent
below the Ordinary course i has even been seve-
ral times 80 low as thee per cent below par In the
country the rouble bill is accepted everywhere, and
taken In all deposits at par with the silver roubie.
During the whole war there was not single i'm
portant failure in the principal selts Of commerce
while financial embaTassments aud failures are be-
ginning to occur and TO follow each other on the
b0urses Of London and Paris.
8. 1t said that the reserve fund-whic ID serves
~ guarantee for the circulation OF paper money,
diminished in consequence of the expenses of the
war was almost exhausted.
The reserve fund denosited in the fortress; des-
fined only TO supply with specie the exchange cot
fers, has not for moment been turned aside from
chat object. This fund amounted, at the end OF
September 1854 to LAG 5o5 900 silver roubles (abou
Sill 600, 000) and at the commencement OF 1880 to
ISL ,78l 600 silver roubes, (about sl2l 900 ,O00)
1. It was said that the credit establishments
were being constantly overcome by demands OF re-
endorsement and that bankruptcy was at the gate.
The following il the statement OF the treasures OF
those establishments during the two years OF war :
Capitals rereirel
from nee CAPITALS