Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1901-02-01
RUSSIAN AFFAIRS
GOVERNMENT TAKING HOLD OF
MANY INDUSTRIES.
WIDE SPREAD PATERNAL ISM,
America Getting Large Share of the
Worlds Gold-Least Of
Chinese War.

St Petersburg, Jan. 6.-(Correspond-
ence of the Associated Press. )-Ameri-
cans or Englishmen who generally leave
budgets. annual estimates and balances.
tax bills and appropriation bills to the
statesmen. politicians and lobbyist.
would be astonished at the intensity of
interest in the Russian budget. 1t is
an engrosslns topic of conversation in
wide circles a month or more after pub
difficult to understand. The first is tina t
the annual estimates in Russia, owing
to the direct Intervention of the govern
ment in every sphere of business directly
affects greater number of people than
in any other country. The second is
the paucity of official utterances by this
government.
Minister Whites address to the EN-.
peror.w HIGH was no doubt made at
Livadia, contains many interesting
passages, which could not be telegraphed
on account of the length of the docu-
ment In discussing the unfavorable
state of the country, economically
stated. Mr. Whites statement gives some
causes which, in his opinion. are the
wars in South Africa and China. the
progress of the United States is also
mentioned as a cause
According to the authorized transla-
ton. Mr. Whites avs:
There is another cause of a specific
characterW hich acts very strongly in
the same direction. however. OF late
years the position of the United States
Of America in the worlds money market
has undergone a serious change. MOI
withstanding the expenses entailed by
the Spanish war. American capital has
taken far smaller share than Eu-
ropeans in outside undertakings. Side
by side with the growth of capital and
the development of industry involved
thereby. the export trade of the United
States made greatp rOgress, which in
sured a favorable balance of trade and
balance of payments. Since 1897 the flow
of gold into the United States has con-
stantly been in excess of the outflow;
the abundance of money in the Ameri-
can market has led to large investments
in European loans. Although part OF
thed ebtd We to America from Europe
for exchange of goods and form oney
invested in loans and investments is
being returned, it still leaves a balance
mi is favor. Thus the transatlantic
sources of the old world"
This discussion is apropos of, the
diminution Of gold stocks compared with
former years. At the close of 1900 the
Colds tocks amounted to 1,492 SOC. 900
roubles. or about $3.50, 900, 900, ofw hich
6S4, 500, 900 roubles was in circulation and
6S4, 500. 900 roubles We're in circulation
and S07 100000 We're in the state banks
and tibet reasury. Thes tocks at the
close of 1899 were 1855. 400. 900 roubles, or
81, 100. coo larger At that time the bank
and treasury held 927 900, 900 roubles. and
there ware only $50 400 900 in circulation.
The bank notes in circulation are COW
cred to the amount of las per cent.
Referring to the estimate of the cost
of the Chinese troubles to date as 627,
O0O,o 0oO roubles Minister White states
that this su m is composed of grants
above the estimates made to the min
ister of war and other departments to
meet the outly required in 1900 in order
to put the troops of the Amur and ST.
berian districts on war footing. He
says that of course this sum, together
with the extra assignments to be made
for 1901 does not indicate the expendi-
ture to be borne by the United States
as consequence of the complications III
the east, and does not embrace all the
losses caused by these lamentable oc-
tl1rrancaS'