The Bridgeport evening farmer., 1917-05-03
Financial Position
 of Russian State

nIn spite of the tremendous burden of war indebtedness, necessitating the uayment of interest charges of over S1. .000, 900 ,o0o, per year, Russia with the proper cooperation, will be able to solve it's financial problems effec-s tfvely.s ,is the statement of The Amer ,fcan-Russian Chamber of Commerce in an exhaustive report on the Russian Financial situation.
 The Russian national debt. accord Ing to this report on January 1st, i1s14, was $s,4o6,0o0: during the first two years of the war. additional loans, covering war expenses, were incurred to the extent of $8,611s920 900, and additional loans for $s,sso, 1oo, 900, win be required, if the war closes at ] the end of the year 1911. Assuming tthta the war will end in the fall or this year, the total outstanding Rus ! sian Indebtedness will amount to $20 .. 5 s0s, ,ooo, 900. which on a 1-2 per cent basis will require yearly interest payments of $1.o6s. 100000
 Foreign Indebtedness.
 The total foreign indebtedness of ! Russia, prior to the war. was $2 2S0,- f ooO. GOO. During the first two years additional loans were incurred amounting to s2,4so. .ooo, ,ooo,, and the l estimated additional obligations, { which will be incurred if the war closes in the fall of 1917. will be $1.- 1 e44. 900 ,ooO. The total interest charges 1 on foreign loans and also in connec- ton with Municipal. private issues ! and other private indebtedness, sea- { freight etc. due annually on foreign | ob1igations after the war, will be s4e1. 900 900. To offset these pay i mensf, Russia has had for number ! of years a favorable balance of trade. I The average yearly value of the ex- | cesB of RuEsia's exports over Russia s imports amounted i$169, ,000,0 900. leaving net obligations payable year ; ly on foreign loans after the war of i$292. 200 900
 It. .is evident that. since Russia will not be able to meet its foreign interest charges in paymehts of gold when the war is over; it will be unwise to adopt a policy of incurring additional inter ct uaynents and the only solution of fRussia,s financial sproblens lies in fIrst, greatly interesting her export of raw materials, particularly that of ag- ricultural products and through the orxanizaffon of it's timber industry: second. the elimination of all unnec- essary exportations into Russia and third the immediate organization and stimulation of home manufacturing production
 f Russia is in a position to supply the world with the bulk of food products by fntensdfyfng it's agricultural produc- tfon. Russia is greatly increasing the quantity and quality of ts food i production as we'll as it's supply of 1 meat and dairy products In view of the general shortage of food pro- ducts such an increase will no doubt largely solve the question of the prop
 sr balance of trade after the war
 In addition Russia has 50 per cent. of the worlTa undeveloped timber area and is in position on account of its natural position and through the or 4 ganfzation Of it's timber industry to supply the increasing demand of Flu rope after the termination of the war
 Russia requires foreign capital to be used in the stimulating and organizing
 of these manufacturing interests. The United States is in a positfon to be ot 1 khe greatest assistance to Russia at the 1 present time through the loaning o1
 money direct to the Russian Govern
 ment for the carrying on of the war
 exbenses and through the investment
 of private capital in Russian industrial
 investments. Russia is an economic duplicate of the United States is in the
 same position as the United States wal
 after the Civil War and turns to this
 country to secure the assistance, CO
 operaticns capital and organizing abil.
 ity which will properly solve Russia's
 financial problem.