Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1903-01-14
For Current Year Are Estimated at
Nearly a Billion,
BUT REVENUE COVERS THEM
Finance Minister Witte Says General
Conditions show signs OF Changes
For the Beuer.

ST Petersburg Jan, l3,-The budget
estimates for 1908 place the ordinary
revenue at SglS5l6,339 the ordinary ex-
penditures at SoiO 2O2,6l4. the surplus at
2S8lS, 72l,and the extraordinary expend-
itures at S95,63l, l2l The latter item will
be met by the foregoing surplus, the
extraordinary revenue of 81 ,250 OO0 and
the treasury reserve Of $s6O6I591
Among the extraordinary expenditures
is $40, $50 81 for the building OF the ST.
berian railway and S72,59729O FOR the
building Of other railroads
In AN official statement accompanying
the budget Finance Minister Wtte says
he can give this year for the first tine
in a long period, assurance that the
general conditions OF Russian economy
SHOW evident signs Of changes for the
better Among these may be mentioned
the harvest for 1902, when the highest
yield Of grain In ten years was obtained,
the yield exceeding the average for The
last ten years by 21 per cent Minister
Wtte comments also upon the inn
proved condition of the money market
bat SAYS the perfect equilibrium be-
tween the supply and demand Of capt
tai has not yet fully been restored.
The value Of Russian exports In 1902
exceeded the value of the imports by
$50 600. 600 and was greater than IN any
year during the past decade. The pre-
pOnderance Of exports has fayorably
affected the gold reserve In the I'M
perIal bank and the treasury,
Minister Witte spoke encOuragingly
Of the present state Of the metal in
dustry, which he said would soon sat
isfy the popular demand for native iron
at low prices. He declared that several
measures TO provide relief from taxa
ton and for the repeal Of certain taxes
were contemplated
The budget shows that the cXpendi-
ture has almost doubled IN the last ten
years and that the vodka monopoly
furnishes revenue amounting to SIS 49,
900. The estimates provide for enorm-
Gus increases in the expenditures on
account of the navy, railroad and ship
building over 1902
Among the points brought out in Min
lister Wittes report was that the Of
fetal rate OF discount was Az per cent
last year as compared to Z per cent
1898 that the deposits on current Hc-
count in the Joint stock banks amount
to $685. 100000, the record for the last
i've years; that securities are advaac.
ing and that the countrys stock of gold
has increased $4,000 600, fully recouping
the former losses. Minister Witte, how
ever does not attach any particular
importance 20 this Increase.
Regarding the stability OF the cur
rency. Minister Witte says this has
been sufficiently tested by experience,
As a partial Offset to the foregoing
conditions, the minister said he was
compelled 10 note the continued de-
preston In certain lines Of industry; the
abrupt decline in prices, notably IN
metals, and the continued decline In the
output OF pigilon. lie says he regarded
the slight decrease in the output accom-.
panying the much lower prices for pig
iron as proof that the future OF the iron
industry is assured. although some
weak companies would disappear
Minister Witte said also that he felt
I'm duty bound TO discuss the demands
which repeatedly reached the car for
a reduction in or the abolition Of GER
tain taxes, and his regrettable inability
to satisfy the pressing demands for in
creased appropriations for educational
and similar purposes.
From an economic and humanitarian
viewpoint said Minister White, IT
is to be regretted that mankind is not
vet imbued with the high ideals Of uni
versal peace. 1t must be acknowledged
that we are in the grip Of an Iron law
which DEGREES that the requirements OF
culture may be satisfied only from
what remains after expenditures for
the defense Of the country
Minister Whites attitude In the mat
ter OF the Russo-Americah dispute re-
garding sugar bounties has not been
changed by the decision Of the supreme
court of the United states OF Jan.
s. that the money paid by the Rus
sian government on sugar exported Ii
a bounty. Inquiries made by the corr
respondent Of the Associated Press on
this subject have been answered by ref
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