The New York herald., 1870-01-20

Debt Of tho Russian Empire-Imperiai Loans
and the Treasury Resources.
The intelligence conveyed in the cable telegram
given above will not produce surprise either in we'll
Informed monetary circles or to the general reader
who has paid attention to the current condition OF the
Russian treasury within the past few years-since
the period OF the Crimean war-as sources OF In
come and loan necessities. The statistics OF the
budget for 1869 have been published, and to those
VINO remember'the state OF Russian finance In 1866
ana 1867 present startling aggregate. TIE previous
taars expenses OF the War Oice alone (Which, under
4hs management OF so able political economist as
Gencrsi Dimitri Milutine. then Minister OF War,
amounted 20 the sum Of 1885, 900, 900 roubics) show
what sacrifices Russia was compelled to make in
order TO maintain ner place 10 the reckless race OF
Hhich were beggaring continental Europe The
ftatlstics. as oiilcially published, are as fol-
Renses OF the imperial household. 1000, 900;
Ecclesiastical synod 5000. GOO: administration OF
900; War once, las OOO 900; Ministry Of Marine,
~ 900, 00o Ministry OF Finance 77oO0.0oo Ministry
~ crown a i Ministry or the Int
90 900; Ministry OF Internal Communication,
n oO0OO0 Ministry OF Justice 5000 600; expenses Of
Trans-Caucasan provinces, GO0o; 600; arrears OF
revenue 100000 railways, 3l,00 600; miscea-
Heous expenses ems 1 ls ooo o1omto,a or be-
An English official return, taken fr0m Russian
Sources for government use In London, shows that
frOm the year 1S40 the Russian government became
sIrictly borrower OF foreign capital and continues
10 make uOans, almost annually either IN London
pr Amsterdam The foreign loans appropriated to
the deficits between 1s40 ana 1861 amounted to-
xether TO 228 ,804 roubles tf36 900, 000). At
she same time the sums iaken from the credit
lustttutiOns between the years 1882 and 1851 re-
present the total OF 557,00O,00O roubles, or
fsS 800, 600 (stering) the loans from the Commission
Youbes (&l4, 900, 000); the issue OF paper money,
407 OO0 0OO r0ubes tf84 600 000) and the issue or
treasury blllsl 93 900 rOues (s14 500 O0Ol The
SOtal OF the financial expedents resorted 10 between
fhe years 1882 and 1881 be briefly stated fol-
lows:--
Foreign loans rs. $4,000 G360o0,ooo
Loans from banks. ......... 557,0 1000 S00u,00
Loans from COmmmisslon
for extinction OF debit. 20, 900 0C0 $4,000, 900
Issue or bank notes. 100000, 400 ~, ,00o 900
Issue Of Treasury bnls.... 93,000,c00 A,500,000
Tota. .1,3s53 1856 600 G2l6 5oO,o 600
Or at the average rate OF 81, ,00jUO per annum.
OF the very present proposed loan London Jour-
mai In It's money article, written short time SINCE
hses almost the very words OF the cable telegram.
shus:-'.Another Russian loan to the amount
the Nicolai Railway contract but it can
tcarcely be anticipated that the Will
be raised. The parties identified with tue
operation are Messrs. Barng Brothers, In London;
Nesars. Hope & Co., in Amsterdam. and Messrs.
H0tttngeur Co. and the Compton dEscompke, in
Paris. The bonds are to be issued In twenty pound
bonds at the price Of f12 Us. per bond or In qun-
euple bonds Of flo0.
The introduction Of the loan caused heaviness in
she prices OF the principal Russian stocks but not 20
puch an extent as greatly To shake confidence In
khem."