The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1895-02-02
THE EUROPEAN VIEW.

The financial strain and perpleMty
through waica this government is now
passing 10 attracting marked attention
all over the civilized world. Following
! their invarlable custom in times Of dis
turbance or crisis Of any sort in any
leading nation all European countries
have special ernissaries and agents here
investigating and critically watching
and reporting every phase of develop
ment in the situation. Among these
distinguished foreigners now attracting
much notice in Washington, is NJ de
Routkowsky, representing the Russian
minister of finance, and one Of the
greatest authorities on finance in all
Europe. M de Routkowsky lately con-
sented to give some of his views on our
troubles to the correspondent of a
leading middle-western paper for pub
| ication, and they are an interesting
Illustration Of the unbiased sentiment
Of intelligent foreign observers on the
! causes which have contributed to our
difficulties. Promising that he could
not give any extracts from his report
TO his government, and was only ex-
pressing his own personal and unofficial
IDEAS, M. de Routkowsky said, in part,
as follows:
You spend $14G,OOOOOO for pensions,
SI45, 900, 900 for education, Sill 900 for
public works. These are enormous eX-
pendltures for any people to make.
You do 1t easily, because your resources
are magnificent. In fact, you have such
revenue resources that one coming here
from abroad must ascrlbe your resort
TO an income tax not to reasons Of
finance. but to the rise of soclolstic
doctrines In the minds of your people
we also have an income tax, but 1t IS
4 legitimate revenue device and woulG
not exist IL we had such revenue re-
cources as the United states enjoys
IL your income tax was levied solely
for revenue It would take in smaller In
comes as 1t does in Europe, where In
comes as small as 5000 year are taxed
and where rs per cent of the revenue
from which tax is derived from me
small incomes. Your currency system
have carefully studied. 1t Is an un-
scientific system. You have more than
Il 100. 900 900 Of paper currency of which
$500 900, 600 is exchangeable for gold al
the optIon of the holder and against
this you endeavor to keep a reserve OF
800, ,OOO0 900 of gold coin constantly Oh
hand. Just now you are greatly dis
turhed because so much of your golt
Is going abroad and / see your presi-
dent Is trying to find a means of relief
LET me give you my conclusion RS
to your difficulty" continued NJ, dc
Routkowsky after a careful study
9f the situation, you are not losing gold
because of any economical conditions
Of the country. Your financial resources
are not failing, nor are they suspected
Of failure. A country which has yearly
products of over $4,000 900 in value
shoul6 not feel the loss of SioO. 600 IN
yold in a year. II is a bagatelle' The
fact that It goes out does not of itsel
indicate any decadence of your natlona'
prosperity. The deficit In your reve-
nues. similarly, is due to LAWS tenn
oorary-and not TO any lack of pros
perlty IN the country. The condition
If your people Is shown by the fact that
though 1894 was a year of great world
vide depression, It was little felt by
your banks
"Your present difficulty is due solely
to politics, to legislation and the threat
Of legislation. 1t began with the Sher-
man act, which created an artificial de-
mand for silver by means of a law
or1 started the dlstrust that the
parlty OF the metals might not be main
aimed by the government 1t was
small at first. but constantly grew. or
course Europe, as your creditor, could
not sit by and see you approach sill
YER basis, the debasement OF a dollar
TO so cents without alarm. or late
European opinion has been divided aS
TO the cause Of your trouble; some say
Il was real commercial and ilnancia
,risls with you, others Thought tho
difficulty solely one of legislation and
nolitics. | see very clearly that the lat
or Is the correct theory Notwithstane'
lne the evils worked by the sherman
,aw. we Europeans saw a silver party
m your congress very rearly defeating
lis repeal. They would lave succeeded
but for the iirmness OF your president
''At the present time we see the same
silver party well entrenched In your
aw-mal,ing bodies. Whenever the gov
ernment wants any legislation for car
wing on lts business these men appear
10 oppose ana to dictate the terms on
which they shall step aside. Europeans
have seen your Mr.. Bailey, of the Judi
clary committee. declaring the governs
n,ent has no right to issue bonds under
the law Of 1876. We have seen SEN
ator, Mr.. Allen. appearing in eour, and
iaylng subscribers TO the loan issued
inder that law must take their own
risks as 10 its legality, In Europe we
have come to the conclusion that You
must have a considerable soelallstic
party In this country. The talk which
we hear about the shylocks on Wall
street and such things reminds us very
much Of the talk Of the socialists Of
the old world. Fortunately for the
credit Of the United States, these 81
cialIsta have not yet been able TO carry
rhe day, But they are still active.
The Increase Of socialistic tendencies In
| this country a saon during the last ten