The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-06-16

of her nearness, Japan, however, will
obviously reap the greatest harvest
from the development Of Manchuria.
Russia Near Bankruptcy.
Russia cannot borrow money to con-
tinue the present war, in the opinion
OF the experts, but she can borrow any
sum she may want with which to pay a
war indemnity.
Russian finances are in deplorable
state, and the country is really on the
verge of bankruptcy, and this has been
the determining factor in the willing
somewhat less factor being the internal
condition of the empire.
Before Port Arthur fell, Russia bor-
roWed $160,000,000 in Paris, and at the
same time she raised $75,0OO,O0O, at
home thru an issue of treasury notes.
This was while her credit was fairly
good. After the fall Of Port Arthur,
many, but only got $80,00O000 Of that
amount. At the same time she raised
at home $4,000, 900 by treasury notes.
Her credit had begun to decline.
Since the beginning of the war, the
Bank Of Russia has inflated the curren-
cy by an issue Of $25O,OOO,OOO paper
money, corresponding pretty nearly to
thC A1lCI1Cou SItcuUdCh.
+ Here is total Of $500, 100000
raised by Russia for war purposes, in
| addition to the expenditure of such
sums as she had already on hand.
|, Enormous Debt Insures Peace.
! In 1904 the bonded debt of Russia
twas $3,533, 245 900. which. added to the
sum Just named, gives a total of 81 ,223,-
| 245,000. On top Of this total must be
| q hn11t 677S 000 000 xx,b; ol Z
advanced from time to time of late
years for the underwriting Of railways
and various industrial securities bring
ing her total debt up to the astounding
figure of $5,000,0O0,0 sin round num-
bers. For several years the Russian de-
fcit has. averaged $l4,000,000 annually.
/ Here is an argument for peace which
even the imperial court cannot meet,
and added to unrest at home, it makes
almost certain the statement that the
while not clothed officially with full
power to- draft treaty, will, in fact, fix
the terms which both sides will accept.
Russia will accept any terms that will
not mean a sacrifice of national honor,
and it will be the purpose Of the rest
OF the world to see that Japan, while
reaping the fruits Of her great victor.
1 les, does not insist upon terms that
Russia cannot accept without such a
sacrifice. All this can be arranged at
the Washington conference without Sc.
rious difficulty. :
Wars Benefit to Russia.
For financial reasons, and because OF
conditions of unrest at home, Russia is
down and out as a great war power fol
years to come: It is predicted here that
this war will be the greatest object les
son the country ever has had, and that
it will result in curtailing the powel
of the autocracy and CORRESPONDENCE
increasing the contentment of the PEG
ssfple..r There are, those in official circle.
i who have cause to believe that Russi;
4 is. to Introduce system Of popula
. education at home and do various othe,
: things which will raise the rank ant
! intelligence. This will not be don,
;, from. any. altruistic motives, but be
cause Russia has made up her mint
/ that@much I'M times of modern: war de
{ ponds upon ( the2man behind the gun;
! It was the ignorance Of this "maTl .
: which caused her defeat in the presen
, war.
} "Treaty of Washington. - = :.
i There is a strong sentimental reason
i why the new peace should be sent dow
j to history as the "Treaty of Washing
j TOM and it grows out of the direc
, hand which, this government has hat
: in bringing the two countries together
I The conduct of the negotiations in thi
1 can capital with this peace for all time
| Besides that, it has been stipulated b,
:. the president, that, tho the heat may
, drive the commissioners to the. seaside
, for their discussion Of peace terms, tn
treaty shall be signed in Washington