The morning times., 1896-10-29

In answer to the State Department cir
cular calling for Information as 10 money
and wages in foreign countries, Uhlteu
States Minister breckenridge at st. Peters
burg has submitted Il very elaborate report
ON The Russian financial system ana itS
workings He shows that the standard has
been for many years fluctuating paper
measured externally in terms OF gold;
TIE per capita circulation Is about 20
In circulation the government Ias 100
600 900 rubles; gold, 5,Ou0,ooo, SILVER,
20 900, 900, and subsidiary coin, SILVER ana
copper, 81, 100000 ruhles. IhecolnaEeoi
silver on private account was stopped IN
1898 and an extensive redemption schcnie
is about TO be put into operation, To carr!
ont which the government has accumulated
a sum Of gold about equal TO $50 ,OOo,ooo
gold rubles.
ILe paver rublc, now valued at 81 cents
geld, will be redcemabe in "A special Goih
Ccin of the same value. Silver VIII oe
given large field Of employment, pdt
its coinage Will he upon the account oi
tie government, and il will be kept at par
with gold.
IT'S EFFECT ON WAGES.
Concerning the practical effect OF the
existing currency on manufacturing IN
dustries and the rates Of labor, the minister
submits data which he says VIII enable
the subject 10 be viewed from different
points of view Manufactures have long
been stimulated by n protective tariff as
well as by the ability Of the manufacturers
to pay uncir workmen approximately the
old scale uf wages III the cheaper money
of the present system.
Stl tie growth Of manufactures, while
considerable has not been as marked as
would he expected from these advantages,
thpush in lines most Congcnial To the pe"-
pie the GROWTH has been great ana the
profits enormous. Tie nuE- cNciSahic mai
Ufactures increased from 5Ss,cou.uuo ru-
blcs in 1873 10 l,C64,o0o,Cc0 ruhlcs IN
1890. The cxCisable manufactures in
creased in the same pcriCti from l5T.,ho
600 rubIes To iO3.GC0,C00 ruhlcs. Mining
products grew from 10000 eco to lSS,
OuO, 400 ruhlcs.
NOT SHARED BY LABOR.
Mr.. Breckinritgc secs no reason 10 Tues-
tion that this growth Of manufactures
still continues, and that there must be u
marked increase for "a long uInc 80 CviE.v
under the present policy. The worknrn,
however, did not participate apprcclabiy
in the benefits bestowed upon these in
duStrieS. Not a word l. heard favorable
10 the condition of agriculture; the uni
versal testimony is Of extreme depression
and the wages of the agricultural labor
ers have had in the main Downward
tendency.
A. to factory wages. the minister, after
submitting cupiOls official tables, re
marks that wages in Russia have under
gone little or no change for thirty years.
and there is no record of their hein"
affected by the great changes i'll the pur-
chasing power of The paper rublc-tht
medium OF payment.
II may be assumed that had Russian
labor been organized as in the United
States, it would have at least struggled
10 change the scale To correspond to the
change in the value Of money. hut there
has. been no struggle and no change.
COMPARATIVE WAGES.
Wages in England and America are re
spectively 12i and 379 per cent. higher
than IN Russia, anu wages in Russia are
still further reduced by fines imposed
upon workmen.
MT. BreCkinridge says:
Russia as a nation has, during a long
period of peace, steadily grown in popula-
tion and in wealth. How much faster She
might have grown and how much more
equally the products of labor might have
been distributed had she enjoyed during
all this period good currency, conforming
10 a stable standard of value, and had the
channels Of both domestic and foreign
trade been less dcfIeCted from their natural
laws and courses is matter OF spccula-
| ton into which do not enter. Nor do !
| here of deprecated currency to trans
| nit its expansion TO the vast interest
| enumerated would prevail in our country.