Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1898-05-04
RussIAs FINANCIAL CONDITION.
Mas Deficit Despite the Largest Revenue in
the World.

few weeks ago a Russian editor was
reprimanded for forestalling the Official
Gazette by retailing the rumor that the
financial estimates for 1898 would show
deficit of 2O.OO00O0 rubleS The actual de-
felt as now shown by official figures. is
no less than loo. 29l, 706 rubles out of to-
tai budgetary sum of one miliard and
half. With an expected excess of 4.Sia.-
0o4 rubleS oil ordinary revenue. there are
only 100000 rubleS of extraordinary in
come with which to meet 1913 964. 10 rubles
OF extraordinary expenditure. Compared
with the estimates of 1897, an increase OF
about 46.O000O0 rubles in ordinary revenue
and 66.ooo0VO rubles IN ordinary eXpendi-
ture is foreseen during 1898. Therefore all
the weight of the budget this year falls
upon the ordinary revenue assisted by the
savings of former years in order to cover
up the above mentioned deficit. But TINS
deficit, with the 50.0o0,000 rubles increase
of the Russian national debt during last
year for the state purchase of railways.
represents for the most part productive
and remunerative outlay on railway con-
struction and equipment This is theo-
retically correct. but some years will
have to elapse before it is all refunded,
especially in the case of the Siberian
railway says the London Times.
The extraordinary and rnprecedcnted
activity in all the railway work may be
estimated by the fact that no less than
2790 versts, or about 1860 miles of new
railways were opened in 1891 and by the
following figures of the present eXtraor-
binary budget: For construction of the
Siberian railway without rolling stock
81 AT 020 rubles: for enterprises auxiliary
to the Siberian railway, l1S.363 rubles; for
construction of other railways of general
Importance. 1.565 1S7 ruhles: for construc-
ton of local lines lo.0G0,o00 rubles. and
for rolling stock. 40 23i. l45 rubles.
During the last ten years the total eX-
cess of ordinary revenue over ordinary
expenditure is reckoncd at 461, 5oo.0o0 ru-
hlcs. there having been minus-of "a
100000 rubles-only once. i'll lS9l. on &C
count of the famine. To this circum-
stance is attributed Mr.. Whites ability to
meet deficits of extraordinary revenue. as
in the present estimates for lSS without
always having recourse to borrowing.
Mr.. Whites financial report to the ear
this year is not. however without A GER
tain tone of peSSimism in regard to the
effects of last years bad narvests and the
not very favorable indications for the
crops of the coming summer. With about
| %. 500 600 tons of wheat and oats and L.
| 800 900 tons of potatoes as the estimated
product of last years harvest Mr.. Witte
considers this enough for the needs OF the
population. but not sufficient to give the
| usual surplus for export. He therefore
| warns the council of state that the influx
of taxes during the ensuing twelve
months may not be very ;-bundant, al
| though he calculates that the usual eX-
| port of grain ought to be Kept up by
means of the large stocks known to nave
been held in reserve up to the date of the
| last harvest.
The expenditures of the ministries of
| marine. of war. of agriculture. and of
public instruction are respectively m
| creased bv 900. 900 1900 900. 1000 900 and
900 900 rubeS In spite of the agitation all
| over the country for more education and
| more schools, the educational depart
| ment still has only 25000,o00 rubies. as
compared with 355 100000 spent on the
|