PUBLIC DEBT. 5% per cent. 5 per cent.. 4% per cent Treasury bonds. Total.... Paper currency covered. To cover paper currency. Total cost... New loans concluded The Controller's report, December 31, 1897, shows the public debt of Russia as follows: Loans converted 6 per cent.. Silver and Paper. 65,174,900 1,531,376,700 Total in Silver and Paper. Roubles. 75,000,000 65,174,900 2,691,301,830 182,261,157 Gold. 50,000,000 773,283,420 121,507,438 (4 p. c.) for nominal sum of.. Taken from Imperial Treasury There is, in addition to the above, 621,281,634 paper roubles for paper currency uncovered. 22,938,531 59,995,684 63,813,466 2,127,954,463 2,128,826,099 2,920,855,660 95,720,199 2,127,954,463 silver. Agriculture. The lands of Russia are distributed among the different classes of owners as follows: In Central Russia 66 per cent. of the arable land is under crops; in South Russia, 78 per cent.; in North and in Southeast Russia, 10 per cent.; and in Astrakhan only 8 per cent. The cereal crops of Russia in Europe (exclusive of Finland) for the last four years are seen from the following, in thousands of quarters (8 bushels) : In European Russia, in 1896, there were 5,484,050 acres under flax, yielding 670,000 tons of flax fiber and 909,200 tons linseed, of which 41,190 tons and 58,000, respectively, were reported; 2,004,730 acres under hemp, 246,800 tons of fiber, and 723,400 tons hempseed; 14,000 tons fiber reported. About 6,500 tons of hops are gathered each year. According to an official report, the Russian crops (Caucasus and Poland included) in 1897 were as follows: Rye, 946,047,000 pouds: winter wheat, 156,680,000 pouds; spring wheat, 331,314,000 pouds; oats, 515.523.000 pouds: barley, 288,977,000 pouds; buckwheat, 469,377,000 pouds; millet, 80,322,000 pouds; maize, 36,185,000 pouds. The estimated wheat crop of European Russia is 296,000,000 bushels for 1898, as against 285,000,000 bushels in 1897. Mining Industries. The mining industry in Russia is steadily developing. The statistics for the years stated are shown in the following table: Russia remains still dependent upon foreign supplies of coal and coke, as will appear from the following statement of imports, in tons of 2,240 pounds: The Caspian naphtha industry is increasing rapidly. The output in 1896 was, in gallons: Crude oil, 127,423,000: residuum, 927,125,000; illuminating, 433,615,000; lubricating, 42,785,000; others, 5,180,000. Total, 1,536,130,000. Manufactures. Inclusive of the mining, tobacco, spirits, and sugar trades, the manufactories of the Empire having a yearly productivity of more than 1,000 roubles each are estimated as follows: The growth of the different industries for the last 12 years is thus stated by the Ministry of Finance: The cotton industry is making rapid progress, as will appear from the following comparison; the figures represent paper roubles, not gold: *This high figure is obtained by reckoning upon a 12-hour day's work, while many spindles in Russia run from 18 to 24 hours. The value of iron and steel manufactures imported into Russia from the United States, as compared with the principal exporting countries thereto, is shown below for the year 1896: Value of Total Importations Articles. Machinery, unspecified... Great Germany. Britain. $1,300,000 $2,150,000 United from All Countries. Sheet iron up to No. 25. 4,600,000 470,000 320,000 607,000 Locomotives. 2,900,000 1,952,000 5,145,000 The merchandise imports and exports of Russia, special commerce, expressed in thousands of roubles, were as follows for the years named; those of Finland are expressed in marks: The foreign trade is shown as follows, expressed in thousands of paper roubles: For the last six years grain has formed, on the average, 55 per cent. in value of the aggregate exports to Europe, 58.7 per cent. in 1888, and 51 in 1889. The official figures of grain exports are given in the subjoined table: EXPORTS OF NAPHTHA. The export of naphtha (from Russia and Caucasus as well) will be seen from the following table: The imports into European Russia and North Caucasia of the principal articles, expressed in thousands of paper roubles, were as follows: 36 pounds avoirdupois), The total imports of bar and sheet iron, expressed in pouds (1 poud were as follows: In 1892, 3,050,000; in 1893, 5,295,000; in 1894, 11,365,000; in 1895, 13,109,663. EXPORTS OF LEADING ARTICLES. The leading exports from European Russia and North Caucasia, including exports to Finland, are shown as follows, in thousands of roubles: *Also 2,599,000 roubles' worth from Persia in 1893, 2,104,000 in 1894, 2,622,000 in 1895, and 2,775,000 In 1896. + Also 19,199,000 roubles' worth through Asia in 1893, 22,260,200 in 1894, 19,214,000 in 1895, and 20,253, 000 in 1896. Besides, to Vladivostok, 19,005,000 roubles' worth in 1895, and 24,552,000 in 1896. The total value of imports and exports (merchandise only) with the principal countries is shown below, in thousands of roubles: --Exports- 1890. Imports-- 1896. Finland.. 13,386 20.880 20,451 1890. 1896. Denmark. 1,659 1,777 2,319 8.322 10,541 9.098 185,368 Holland.. 4,858 5,051 5,834 70,850 Belgium.. 7,085 14,610 19,523 23,143 United Kingdom 160,903 22,549 23,412 58,206 Italy. 9,152 11.698 10,006 36,412 29.942 6,805 14,340 Egypt.. 10,644 12.212 3,790 United States. 1,606 5,482 Persia. 10,783 14.496 The value of the gold and silver coin and bullion imported into and exported from Russia has Gold Silver COMMERCE WITH THE UNITED STATES. The total value of merchandise of all Russia exported to the United States and imported from the United States was as follows: 1892. 1893. Exported from Russia.. $5,246,797 1894. 1895. 1896. 1897. 1898. $4,016,401 $3,973,583 $3,401,080 $4,650,739 6,162,793 8,062,143 8,016,218 7,954,097 The principal articles exported from Russia to the United States for the year ending June 30, 1896, were: Chemicals, drugs, dyes, etc.. $498,211, of which licorice root, $458.266; flax, hemp, jute, $473,592; furs and skins, undressed, $345,767; hides and skins, not furs, $717,305; wools, unmanufac tured, $1,135,469. The principal imports into Russia from the United States were: Agricultural implements, $457,622; cotton, unmanufactured, $3,693,406; iron and steel, manufactures, $1,787,124; naval stores, $329,617. Railroads, Shipping, Telegraphs, and Post-Office. Banking and Money. (See Index.) To effect a stability in the value of the paper rouble, the Ministry of Finance, in 1895, offered means for all payments to the Treasury and railways being made in gold, at a ratio between gold and paper currency to be fixed from time to time by the Ministry. For 1895 the ratio was established at 1 r. 48 c. paper for 1. r. gold. For 1896, the value of the old and new "imperial" was established at 15 r. 45 c. and 15 r., respectively - making the ratio between gold and paper 15 to 10, or 15 paper roubles for 10 roubles in gold. This ratio was continued in 1897, and it is proposed to maintain it further. The State Bank is to accept paper money at this ratio for gold. By Imperial decree dated January 3, 1897, the gold money, while of the same contents of gold, weight, and dimensions as before, shall be marked upon it-on the "imperials" 15 roubles (instead of 10), and on the "half imperials," 7 r. 50 c. (instead of 5 r.). On September 10, 1897, a law was passed authorizing the issue of paper currency, when necessity requires, by the State's Bank, on the following conditions: When the amount of paper currency does not exceed 600,000,000 roubles, it must be guaranteed by half that sum (300,000,000 roubles) in gold, while all issues above 600,000,000 roubles must be guaranteed to the full amount in gold deposited at the bank. The Bank of Russia acts in the joint capacity of a State and commercial institution. It has 108 branches. Its condition at the end of 1897 was as follows: |