Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1897-08-03

selves; we simply desire to MAINTAIN
the law in its present state, and this We
can and ought to do.
"The gold standard, while running
debtor countries like Russia, is q source
Of profit to none save the international
bankers and spectators. do not know
what motive the minister of finance
r1say have in advocating this baleful
regime, but fully realize that the time
has come for all friends of the Russian
fatherland and Russian social order to
unite and exert all their strength in
order to prevent the accomplishment
of this reform. If we are to be van
quished, let the calamity come upon us
while fighting 1t to the last"
NJ. Boutmy's discourse has had start
ling effect. The execution of NJ. Whites
project had already been postponed
without date, owing to the powerful
efforts of Messrs. Scharapoff and Oil,
who had satisfied the imperial council
that, in consequence of the enormous
deficit existing in the balance of the for
eign payments of Russia, the stabiliza-
ton of the credit rouble, and the adop-
ton of the gold standard would simply
result in financial slavery and ultimate
bankruptcy for our country.
Ten days elapsed before any reply
was made by the minister of finance,
and it was only on Monday, April 10,
that M. Gourieff on. Whites secretary
and NJ. Strouve appeared in the rostrum
of the Societe Imperiale Economique
Libre to deal with NJ. Boutmy's state
ments.
They confined themselves to calling
in question the possibility of an inter-
national convention looking to the re-
establishment of bimetallism, and at
the same time undertook general de-
tense of the minister whom they rep
resented; bat both speakers failed to
modify the impression already pro-
duced upon the audience, which was
on this occasion larger than that at the
sitting of the 9th of April. On the
other hand, two brilliant speeches by
L. Raffalovich and S. scharapoff, form
ing sequel to NJ. Boutrny's address,
were vigorously applauded.
The most successful address delivered
at this sitting, however, was that of M.
Timiriazeff, director Of the economic
and statistical department of the min
istry of agriculture, q gentleman whose
great learning, high responsibility and
official status enhanced the effect of his
eloquence.
NJ. Timiriazef began by bitterly re-
preaching the authors of the projected
reform with the falsehoods which they
had put forward during the last two
years, and which he dealt with one by
one. He demonstrated by an abundance
of evidence that the decline in the price
of wheat, from which Russian agricul-
ture suffers so cruelty, is in nowise at
tributable to overproduction, as the
farmers have been persistently asked to
believe, but beyond question to the APP
probation of gold; for the most careful
statistics show that there has been no
and that all other fac
tors in favor of lew. prices which are
now put forward existed prior. TO the
latest decline in value, which has con:
tinued during the last few years, while
at the same time this decline comedies,
on the contrary, with the new. tise in
the valAe of gold recently observed.
"orr agrieultqre. "saa N. NmriazeR,
SIS dying ssE because, instead Of an
arasl1ine IA Russian measure of lengthy
Of fB versehofa, we have the arachins Of
90 verschoss, given by gold manaHetah.
lisqn." Ana finally he declared fhat sx-
Ieriments of this kind have already
Brought Russia to the brink of ruin.
This address, which was throughout
declaration of war against M. Whites
financial system, evoked great enthu-
siasm, and on concluding NJ. TiRiria-
zeff received an ovation.
1t should be remarked, comments the
American, that the Russian minis were
not closed to free silver coinage until
1893, that the paper rouble is at dis
count of SO 1-3 per cent. and gold at a
premium of so per cent, (which premium
the Russian agriculturist gets the adj
vantage of in the disposal of his surplus
grain to gold-using Europe. And, re-
ceiving the advantage of this gold pre-
MUM, the burden of the appreciation
of gold and the fall in gold prices has
fallen upon the Russian agriculturist
with but half the weight that it has
fallen upon our farmer. The Russian,
like our farmer, is struggling with COM
petitors enjoying bounty of 100 per
cent, but, unlike our farmer, who has
nothing to compensate him for this
hardship, the Russian agriculturist
himself enjoys compensatory bounty
Of 80 per cent.
1t should further be remarked that
1t has been NJ. Whites purpose to es-
tablish the gold standard if Russia on
the present basis Of depreciation. He
has proposed to stabilize the premium
on gold, make two gold roubles the
equal of three paper roubles, coin
new gold rouble containing but two
thirds as much gold as the old and re-
sumo specie payments, suspended since
the Crimean war, although the paper
rouble rose nearly to parity to gold be-
fore the Turco-Russian war, on the
basis of these new roubles. Thus while
putting forward as a new standard a
money appreciated 100 per cent, he
holds forth measure OF justice to
debtors, proposing to pare down debts
by one-third, or, what comes to the
same thing, authorize the payment of
debts in gold roubles of but two-thirds
OF the present weight. He would in
effect raise debt Of 100 roubles to 300,
but legalize it's discharge by the pay
ment of 1913 roubles. Where he took
three roubles from debtors by tamper-
Ing with the money standard he would
give back two by tampering with the
coinage and legal tender laws.