The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1878-05-22
The 99ailg argas.
Russian Finances.


| The latest Russian budget shows that
by interest on the new debt and loss by ex
change on the old debt due abroad. tn,
war has increased the ordinary fnancia
burdens of the empire about Sic, 900 OOf
per annum. But, we may remark. it is
altogether too soon to ascertain the appre.
gate OF increase. Russian finances are
not reariy SO well systematized as those of
france, aud 1t was not until 1875 that
france ascertained and fully provided for
the total debt contracted in the disastrous
campaigns of 1870 II. The figures given
above therefore represent only n c,m-
paratlveiy small part of the actual exnenses
incurred in obtaining that diplomatic ele-
plant, the treaty of San Stetano. IF ne
estimate the whole cost of the war ar $500 :
000,O it will be nearer the mari hn,
under rather than over it, As little or
nothing in the way of cash indemnify
can DC squeezed out OF Turkey, even if
the execution OF the treaty is not obstruct-
ed oy Europe Interference, Russia must
oo[ro" heavlly to meet her Obligations.
ana 1t Is more than doubtful whether her
credlt Is good enough to negotiate loan al
the present rate of interest, seven per
sent.f he matter is still further complicated
oy the depreciation OF the rouble throuoh
the over issue OF paper currency, which
increases the cost OF everything and lessons
the value OF the proceeds of tax
atior. Making the proper allowance for
all these difficulties and embarrassments
1t Is safe to assume that Russia has added
20 her annual load between $50, 900, OOO. and
so0,OVO,0O0. No plan has yet been devised to
meet 1t and none can be unit! peace is as
sured. Even with peace assured Oh the most
favorable terms, twill require ADLER fnan.
GERS tnan Russia has heretofore had to meet
these heavy liabilities without crushing the
people. INV
Money is the sinews of war;" 1t is
TINS now universally acknowledged fact
which compels the Gar to hesitate long
and study the case carefully before taking
up the gauntlet England has thrown down
Ii the Russian treasury were we'll filled or |
Russian credit first class, the great mill
tary ball would have opened on the arrival |
OF the British circular at ST. Petersburg |
with an empty treasury and a credit |
hardly third class, the most successful war
may end in nation al bankruptcy. Ac.
ceptng the rumor that Court SchonvaIoff
Is laboring with his Imperial master in the
interests of peace, he can urge no stronger
arguments than those drawn from the con.
qItlon and prospects of the public purse
Ii these arguments fail none other need he
tired, for the failure will prove that Alley
ander IS wrought up to pitch of despera-
ION which forbids the approach of reason.
Russia illustrates perfectly too seldom
,emem bered truth: That national bieness
s neither national greatness nor national
strength. Her vast territory and LARGE
population give her a certain PRESTIGE
abroad. but she has less available mower
han some nations with half her territory
nd population. Her poverty. which i
MY another name for weakness, is known
Q all the world. She consumes more than
he produces, aud the extent of her domin.
ons and the character OF her government
ecessltate the maintenance Of that most 1
Expensive of institutions great STANDING
rmy. There are 20 indications of those
eternal developments, in the shape of
improved agriculture and manufactures
Inch bring health and wealth to the ho5v
olitlc There is progress, indeed, but il | a
slow and clumsy, Russia is at best but
lltterlng shell which the sIedge-hammeri
an uniucky war may hopelessly sbatTer
-St. LOUIS Republican.