The sun. [volume] (New York [N.Y.]) 1833-1916, 1900-03-04
THE RUSSIAN FINANCES.
OFFiCfAL DENIAL THdT CURRENCY
reform N 4 FIXTURE.

' '"pr" IN ihs s"""'rS' i""es "
!" N"''e'' '."'''
>""" '''" '"' ""'"'
NJ de koutkowsky, the financial agent OF
hnsNa IN the | nit"i States, declares tina: :he
assaults on tho credit and the financial system
III RUSSIA which have been frequent during tho
past Two years are made for political purposes,
Moslo' uem' he asserts, have been made originally
ny English newspapers inspired by enemies m
NuSNh 80 persistent have been tho attacks
'hn' NJ de RoutAowsky has prepared a state
meh' OF RUSSIAN finance and currency reform
!" puph'a"on throughout tho | nited States
IN 'hi' statement the financial agent reviews
INC currency reform OF the country during the
pas' three years and shows the remarkable 70
SUITS mat have followed the Introduction II
'he goo standard.
Previous to 1877 silver was the standard n
'a'ue IN ihe RUSSIAN Empire and III" unit was q
silver ruble which contained 1902 grains If pure
SILVER ana was equal To 100 kopecks \ rubls
was equal IN value to iol grains Of pure gold.
o'h'e cf'o' notes and silver circulated a, ras
up 10 1901 ana notes were eschhngeabie for coin.
Then the wars Of the country and consequent
tremendous Increase In the expenses Of the Cow
eminent oro'Igh, about a suspension OF the ex.
change which lasted forty years, paralyLng
economical development The determination TO
aoop' me eoid standard was reached In order
70 overcome 'hese evils IN" Government went
70 "o!k 10 GOLD and In December.
iooo' ~ hao on mana 'sVo'ooo,ooo rubles In
S"o" WI" ms reserve mo currency reform
i"" wa" pu' u oPefouoh ana specie payment
."S e'umoo' Inc "rs' 'hihg necessary was
'Ao.es" aoopuoh no" uhi' o' 'alue
Nv 'o.us vi "''ei a 'n'on D u 'ha' a rune
"' '" "'"k ef"a' ." ''"o 'n'ue 70 ioV
-ole'A'""' "o''h ony hoP~As Inc value
" " W. y VI ~ '"o a Do 20 hopechS'
:" Nv" u s"u '"'e U, IL nous io' lures
y :, ~. :" c ne" III s"'d
,Nn 'n.n i"pei,'' aAaSe' soo "ns
l,"-"" "o N'u' II UNIV
80 s 80 ~. pr''
sOu' :" ~ 'o"' " o,'oo AmeN'an
,,n"rN -, !" 'm's""u " use @" sun
.s. I'm u wa WI 'esal nue. . "Nes
.-N " y" guy n"oun,' ous
-. RI y 's n'"" III -
"oe' Inc e'ae Dnnk OF Russia was made
the only creOit institution authorized TO issue
state credi, notes exchan9eabl. A, par with ro,d
rh. -. q Wv eo",
ihe exchange OF these notes al var with gold
was guaranteed BY the gold reserve for their
redemption and by the whole state property. about
600 400 ono 80 -. - %, nn, -,
V,0'0'"'' ~ 'oioS' 'anu anu @V'ooV h"ies
Oh Government fhuroad.
The standard OF value having been established
and IN. MARTY Of ,hs o,h.r ronar ni,h !, -
anu III parry u 'he o'her money win IL having
been guaranteed currency reform was an es.
iablshed fact Since that time the amount Of
currsncv in circulation IN IN. corr,rr h.s ia
- ,nao ," A"'
creased from l'lo2S million rubles 10 l,3GOo
million rublas. The amount Of gold currency
has increased from 40 a m,llior IN. % 40 %
80 WV UNIV 'uo'' o"-'
mi'ioh runes Inc amount oil SILVER currency
has increased from 244 million rubles to l433
million r,bles and ,ba euo,r, n, ,,,es b.s oo.
n"'"~Nn az 'nu al"ou,, " Ho.,' 10, y,
creased from l'osIo million rubies TO boo million
bi. ,,,,.m.nt show how ,,ound,sss arc Tho rnr,or.
y" u"' NV 'ulno''
spread oy SPECTATORS mat the currency reform
Is a failure and has created monetary stringency.
'rhs balance shset N, ,bs ct.,s barL bo .o,a
49, . - ~ az
SHOWS "lo'ooo'o" OF unemployed rubles In the
vaults when the deposits are only 664. 900, 900,
including 1o7. GOO 600 nv the Imperisl Treasury.
h',uunx 'o'0v''o W ne impe''n' ireasurs'
anu "hyooo' VINO mas Sum'eh' security 10 o"er
can get money al the bank at the market rate Of
in,eres, Continuing N. Financial Agsn, saws.
"Ths stcck Of gold since the INTRODUCTION Of IN,
currency reform no, ONLY has moi decreased hui,
ON ths CONTRARY has Increased For eTsmpIe''
on Dec 2S' 1896. before he introduction Of he
And Al tbs end Of isoe II uas / 5sG niIli"nso a. abirh
927 millions were in The hank md $50 were i'm
circuln,ion among The people
The decrease oP the ,mmolint actually in N. b,nk
Is due The statement saws IN ,be rcde mntion II
credi, notes The forcing If roId into circulation
aid moi in The lenst DECREASE Iha rersriiv Of Ina
State bank for the Immediate rcdemn,ion of all
circulating notes, Tor example. on Dec s, 1889,
The amount ~ not.s in circulation was 51s millions
And in tho hnnk 10 millions , TOTAL NJ GAO millions
And the stock of gold in the State hank and
BRANCHES moi Including The stool oi gold belong.
inc IN The b.nL and denos,ted Win forairn henkers
WAS sG6 : milli"ns, mai is the ratio of The reserve
10 Inc ontsta ndinr notes v "a l67 10 Io0
III a reserve 81 30 ner csni ~ gold ,r,,n,, ,hs