The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1904-01-22
MONEY FOR WAR IS lacking
If RUSSIA AND JAPAN DECIDE ON
PASSAGE AT ARMS.

ers-Rothschilds Are CoId-Great
Millionares Said to Have Taken
Hostile Stand Against Cars Nation.
New York, Jan. 19.-Knowledge that
both Russia and Japan have been can
vassing the bankers in Europe and
here with regard to the possibility
of floating bonds, and semi-official con-
firmation that Russia has been turned
down by France, her best friend, in the
matter of raising funds, while the
chance of Russia getting anything in
Berlin is also considered very small.
directs attention to the internal re-
sources of both Russia and Japan for
furnishing sinews of war. 1t is thought
likely that Japan can borrow some
money-though not much-in London.
but Japan will have to look to her own
treasury and to her own people, just
as Russia will have to do.
N. Raffalovitcn, a Russian banking
expert, is quoted as saying that coun-
try has 500,000000 roubles in gold. or
upwards of $250,OO0,0OO, to draw on
for emergency. Russia's mainstay is
the Bank of Russia, which has been
terrifying itself for some years. Rus
sia's gold at bank and in treasury in
November last amounted to $344698
600, silver 33,775,000, while the cir
culating notes outstanding were $780,
$4,000.
The Bank of Japan, at the same
nfn -.
secretary of the finance department,
at Toxic had gold holdings valued
at $57, 1884, 47S, with outstanding circu-
lation of $101, 423, 1896, expressed in dol
lars. 1t is interesting to note that since
1898 the gold supply in the Bank of
Japan has increased more than $780,
100000, while the Bank of Russias
stock of the yellow metal has decreas-
ed, presumably in connection with the
debt refunding operations.
Will Affect Home Industries.
Japan's preparations to turn the to-
baccO and other industries over to the
government as a war measure for the
purpose of providing more revenue
points out the possibility that the bur
OVl VI wal 0hDtuo6S Ill DOlu
will fall heavily on home industries,
in which case Russia will have de-
cided advantage, because of her great
er wealth and resources. Some of
Japan's chief products for export are
silk, cotton and textile articles, in
manufactured form; rice, tea and flax
seed. Russia exports chiefly grain,
, oils, dairy products timber, sugar and
flax. State control of the railroads
f and of the spirits trade would no doubt
be made to yield much larger results.
France Deeply Interested.
, PerN"Ds noro deeply Interested in
war between Russia and Japan than
any other nation, outside of the two
contestants, would be France. because
= of the enormous number of Russian
securities held today by the French
2 people, by some estimated at 81 500,-
b. 600, 900, par value This explains why
= the French government has been do
2 ing it's best to head off war War
means depreciation of outstanding Sc
+ curities of any nation engaged in it,
as Wall street views it. The presump-
ton is that more securities will be
l turned out by the government in ques-
ton, which tends not only to reduce
: the market value of those of the coun-
i try in question, but of other govern
+ ments in whose countries a market is
1 sought. This is explained on the
1 broad principle of imitation and it is
also due to the habit of capitalists and
e others to shift from one security into
n another yielding a largerereturn on
q the investment, assuming that the Sc
a curity of the investment is somewhat
,. similar in both cases.
Can't Raise Money in America.
. The power welded by Hebrew bank,
ing interests is strikingly illustrated
by the part they are said to have as
sumed in the negotiations by Russia
for loans in Paris and Berlin. It has
been stated here and not denied, that
the Rothschilds had taken a hostile
stand against Russia, for reasons read
lily imagined, in view of certain demon
STATIONS in Russia.