Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-08-25
PLENTY OF CASH IN SIGHT
Cabinet Minister Says Russia Does Not
Need to Make Foreign Loan.
DETAILS OF LAND DISTRIBUTION SCHEME
Owners 20 BE Paid with Interest
Bearing Scrip which is to BE
Redeemed by Payments
Made by Peasants.

ST. PETERSBURG, Aug. A.-F1nsnce
Minister Kokovsoff today authorized the
AssociaSd Press to deny categorically the
constantly recurring reports that Russia in
tends to enter the foreign market for a
new loan this autum.
The government" said the minister,
has ample funds in sight to tide over the
present year. The only loan operation con-
templated, namely, the S25,0oO0OO imperial
loan for famine relief. was consummated
today by the signature of the emperor.
This loan is already being taken by the gov
ernment's savings banks. Even IL we de-
sired It, we realize that no foreign loan
could be advantageously hoated without the
assent of parliament, and you may state
emphatically that the government will not
again try to contract a foreign loan until
parliament approves it. The surplus for
the first six months Of the current year will
exceed the estimates by $50 100000 and as the
last six months always are the best from
the revenue standpoint, the excess for the
year should exceed 100000, 900, more than
sufficient to meet the extraordinary expen-
ditures in connection with the suppression
of the revolution. which directly and in
directly has cost nearly s5,000,0O0 a month.
There is. nothing alarming in the finan-
cial situation, although in the final analysts
everything depends on political develop
ments"
Details of Land scheme.
1t was further explained by M. Kokov-
soft that the big project for the distribu-
ton OF 100000 acres of land among the
peasants, on which the government has de.
cided Immediately to embark, and from
which great hopes of measureably appealing
IN he
! built. does not involve any charge on the
treasury. The peasant bank will issue In
exchange for land two species of script
With a view Of preventing a flood OF paper
breaking the money market too heavily
before 1t can be absorbed, a nominativC
script bearing six per cent interest will be
| issued, the vendors agreeing not to place
II on the market before, FIVE years, while
only five per cent debentures win be issued
payable to bearer. The emperor and the
grand dukes will accept the nominativt
script, and in effect the imperial family will
simply convert their land holdings into si2
| per cent securities and be relieved of al
| the expense of management of crown land:
and appendages, which at present absorb:
a large share of their revenues Tn,
| period of amortization through installmen
payment by the peasants has not yet beer
| fixed. Until redeemed the debentures anc
script will constitute a blanket mortgage
In the process of the distribution of these
lands all the energy of the government will
be devoted to the dissolution of the exist
| ing communistic system, which now cover,
| two-thirds OF the peasant holdings. and ell
| lotments to the peasantry in severalty II
order to instill respect for the principles o.
private property. II successful, the gov
ernment confidently expects the peasantr,
win become conservative and set thei
faces against socialistic dreams of the ma
| tionalization Of land.
| All Elections on Same Day.
At a protracted session of the cabinet thi
! evening the conclusion was reached that
In view of the existing conditions. any re
Taxation in the rigor Of the government
policy is utterly out of the question ant
that 1t is necessary to continue the BATH
against the revolutionary forces with al
the means at command. 1t also was decides
that the elections for members of parlia
ment should be held on the same dat
throughout the empire instead of over
period OF several weeks, as was the cas-
in the former elections. in order to pre-
vent the opponents of the government from
concentrating their efforts in various dis
tricts In succession.
All the ministers were instructed to pre-
pare and have ready for submission no
later than September IA the projects Of nee
essary legislation, which will be divides
into two categories, the first those whcl
are urgent and should be enacted imme
diately in the form of temporary laws o
administrative edicts, and the second sucl
as will require TO be polished by the cab
met before submission to parliament whei
| ID