The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-29
IN BENIGHTED RUSSIA
MINISTER BRECKINRIDGE'S REPORT
ON MONEY AND LABOR.
Wages in America 379 Per Cent. High
er than in the Cars Land
New War Ships Named.

WASHINGTON, Oct 2S.-In answer to
the State Departments circular calling for
information as to money and wages in for
eign countries United States Minister
Breckenridge, at st. Petersburg, has sub
mitted a very elaborate report on the Rus
sian financial system and it's workings He
shows that the standard for many years
has been fluctuating paper measured eX-
ternally in terms of gold. The per capita
circulation is about S. In circulation the
government has LOSS, ,000, 900 roubles, includ-
ing, gold, 5,0000Oe silver, 25,000,oO0, and sub
sidiary coin, silver and copper, 10000, 900
roubles. The coinage of silver on private
account was stopped in 1893 and an exten-
sive redemption scheme is about to be put
into operation to carry out which the gov
ernment has accumulated a sum of gold
about equal to $50 100000 gold roubles. The
paper rouble, now valued at 81 cents gold,
viii be redeelnable IN u special gold coin of
the same value. Silver will be given large
field of employment, but its coinage will be
upon the act of the government and will
be kept at par with gold.
Concerning the practical effect of the ex-
listing currency ON manufacturing indus
tries and the rates of labor the minister
submits data which, he says, will enable
the subject to be viewed from different
points of view. Manufacturers have long
been stimulated by protective tariff as
well by the ability of the manufacturers
to pay their workmen approximately the
old scale OF wages in the cheaper money
of the present system. Still the growth OF
manufactures, while considerable. has not
been as marked as would be expected from
these advantages, though in lines most
congental to the people the growth has
been great and the profits enormous. The
workmen, however, did not participate ap-
preciably in the benefits bestowed upon
these industries Not word is heard ia
vorable to the condition of agriculture; the
universal testimony is of extreme depres-
sion and the wages of the agricultural la
borers have had in the main a downward
tendency. AS to factory wages, the Minis
ter, after submitting copious official tables.
remarks that wages in Russia have
undergone little or no change for thirty
years and that there is no record of their
being affected by the great changes in the
purchasing power of the paper rouble the
medium OF payment. 1t may be assumed
that had Russian labor been organized as
struggled to change the scale to CORE
spond to the change in the value of money
but there has been no struggle and no
change. Wages in England and America
are respectively, l24 and 379 per cent. high
er than in Russia and the latter salaries
are still further reduced by fines imposed
upon workmen.
In conclusion Mr.. Breckinridge saws:
or peace has grown steadily in population
ana wealth. How much faster she might
nave grown and how much more equally
the products of labor might have been dis
tributed had she enjoyed during ali this
period good currency, conforming to a
stable standard of value and had the chan
nels OF both domestic and foreign trade
been less detected from their natural In wS
and sources is n matter of speculation into
which do not enter. Nor do | ATTEMPT
70 say 10 what extent the failure here of
deprecated currency to transmit it's ex-
pansion to the vast interests enumerated
would prevail in our country