The Providence news. (Providence [R.I.]) 1891-1906, 1900-01-13
FREAKS IN fGREGN FINANCES.

lt has been announced tha there is
a deficit OF S49.000,O00 in the Russian
! governments income this year. the
equivalent In Russian money OF this
sum being l0O, 900 900 roubles. The Rus
sian system OF finance is somewhat
vague in reference 10 actual results,
! there being every year a formal esti-
mate Jf Jhe prospective government re-
ceipts and expenses, ana a subsequent
! discovery that the receipts have fallen
below the estimate made OF them. or
that the expenses have gone above the
estimate, the account showing a deficit
which is carried over 10 the year sue
ceeding. Thus in lSi9 the deficit was
100000 roubles: i'm 1895. 1000 600: I'm 1896
90 000, 900; in 1897, 10000, 900: in 1898 So
100000. This year the shortage will be
100000 000 rOubles. but the circum-
stance IL not a disqueting one TO the
Russian financiers. who appear to take
81 as matter OF course. Russia inn
poses direct taxes on land, licenses and
capital invested in business, and OBJ
tans further revenue from indirect
taxes on liquors (the chief item), to-
bacco. sugar. matches and naphtha sold
at retail wi,hin the emItre from GUS
tom duties, stamp duties and from the
sale OF spirits by the state-what would
be colloquially called I'm this country
bar annex The railroads are run by
the government. and the profits Of the
postotiice and the telegraph service go
into the governmenr revenues. The ex-
penditures include two items, which
would probably be regarded with disfa-
vor by American financiers; one OF
these is unpaid arrears" and the 9TH
er is unforeseen expenses"
Russia is not the only European coun
try in which this Indefinite method of
government fnanciering prevails. and
in which an annual deficit is regarded
as a suggestion OF what is slphoniously
called "a readjustment of the finances"
Portugal. country having a smaller
population than the state OF Pennsvl-
wanna. has an outstanding debt Of $500
600 600 exclusive of a floating debt Of
about 800 900, 000 more. The eNpendi-
lures of the Portuguese government ex-
Ceeds the receipts not occasionally. but |
always. and during the last eight years |
there has not been one in which the /
disbursements have not been i'm excess \
Of the revenues
Another country I'm w'ich there is |
considerable amount OF wild govern /
ment financierinC. Judged from The I
American or English standard. is
Greece. whose total panulation by the |
census OF 1896 was 2 900. or ebout
the same AS The population of Indiana
The natior Al debt of Greece Is S25. 600
000 drachmas. the equivalent OF about
Sl65. .000 o0o and the Greek revenues |
usuollv fall short Of the necessary ex-
penditures. \ few wears ~ the total |
receipts figured up % 600 00n raehmas
ari me total eXnenscs 10000. 900. 4
few wears before that the recoints were
Go 600 000. and the experses 100 600 0oo.
These toms include. e surse. nerelv
tfTr 0TtTUHTv government onerations,
0nd are entirely exclusive Of the reve-
nues derived from loans or the sums
aOuNed 10 their pavment.
Tho intrca oics '0f Turkish and cnan- |
ish fn9 noes have long BEEN 2 source |
~ wordcr 20 fuanciers. and Turkey
avcooas Spain IN tho variety - novel |
methods IN government busiraeS The |
prce0rt 1nht - Turkey IS $3.50 0On 600 |
'rf tho Turkish p~ar'ice or r1ortrag- |
mo the mot desirable items OF revenue
'vr'-fpe. 10 s0N1o ovtCnt. ~ looet tha |
lifiru'tv Cvrcrl lrrcod IN collecting 'he |
-arioue Items ~ 'nf@n' ono Of which |
e tav on sheen. an~fher p tav on J
3 7ehcrr,cn ard othc~ inuoe c-lleotihle |
'r-e, IN, n~cafc rr tho cole ~ tobacco |
,rd payments cor excmrtior from rli- |
nvv eorN-ico. IN manv Furoppa0 cOun- |
rfrs tta danger OF 7urp'us con-
'rort the pNvernwert franciers is not
source of any recurring cmbarrass-
nent