Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-10-30

The mobiles of Russia grow poorer every
year, and there is q bank here under the
Government which was organized to lend
money to the mobiles upon mortgages on
their land. The loans of this bank already
amount to more than $50, 900, 900, and a
number of estates have been sold under
foreclosures of mortgages by it Not long
ago it was said that 5000 estates were ad-
vertised for sale by this bank of the mo-
bility, and the large estates which used to
prevail in Russia are fast being divided up
by debt and high interest The mobiles
know little more than the peasants about
taking care of their property, and they are
more e1travagsnt
The Banking Business Pays There.
There are large number of private banks
in addition to these Government banks, and
these, 1 am told, are making money, and
they are paying dividends Of from to 10
per cent annually. These banks came into
existence about the time that the serfs were
freed, and there were no banks to speak of
In Russia outside of the Government banks
before 1864 Russia is Just learning what
banking means, and before this time the
Bank of the State" did all the business of
%, 600, 600, and its private deposits were
over $125, 900, 600. As soon IS the private
banks began to be established the money In
circulation in Russia increased, and in
about ten years the. deposit doubled and
banking capital Increased tenfold. Loans
and discounts were then used largely for
business purposes, and now money is turned
over as rapidly here in Russia as any
where almost in the world The Russian
National Bank or Bank of Russia issues in
the neighborhood of $4O0, 600, 600 of paper
and it has more than $4OO, 900, 900 of assets.
Its original capital was only about s12, ,0OO,.
600, but its business amounts to $3.50, 900, 900
every year and it has deposits in trust
amounting to more than $500, 900, 600 It
is the bank through which all the great
Government operations 60 on and the Treas
ury Department leaves deposits of $25, ,00O,-
600 and upward almost constantly with it.
Not long ago the ministry of finance organ
lied system of saving here, and there are
now more than 300 of these and their depos-
its are increasing right along until they
now amount to more than 500, 900, 900. A
large part of the business OF Russia is based
upon credit. but very little buying is done
by cheek, and the man with his bank ac-
count draws his money and pays his bills in
it rather than with his check book. The
merchants, as rule, give long credit and
tuc Vi SoOuS usually
give no notes until nine months after the
sale.
American Goods in Russia.
The hardware of this country is noted for
its excellence, and there are q great many
American specialties sold here as American
whicisare made in other parts of Europe or
in Russia. find that American goods stand
very we'll, and such things rs agricultural
and hand tools could be imported
and sold at a profit. The Germans and
English are selling some American goods in
this way. and the Germans are initiating
some of our goods and shipping them here.
Merchants tell me that 1t would pay the
American manufacturers to send their agents
here to study the market and to furnish
goods to suit it But nothing can be done
by circulars or through other parties.
The Germans are very jealous of Ameri-
can trade, and they are doing all they can
to crowd 1t out of the markets of the world.
1 have found some large land owners who
are using American agricultural machinery,
and have met a number who have told
me they intended to study our agricultural
methods when they came to America to
visit the Worlds Fair; and In this case
will probably ship some of our machines
back to Russia from Chicago. Consul Gem
eral Crawford tells me there will be at least
], 600 exhibits from Russia at the Chicago
and the Gar is preparing to
show something as to the resources and pos
sibilities of his country.
FRANK G. CARPENTER