All the Russias: Travels And Studies in Contemporary European Russia ...
All the Russias: Travels And Studies in Contemporary European Russia ...
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In FINANCE, COMMERCE, AND INDUSTRY 365 fact, from 1887 to Jpoi the Russian treasury has not received from new loans a single penny of capital more than the old capital it repaid its creditors."^ How baseless, therefore, is the widespread notion that Russia, like a spendthrift, borrows to fill the gap between her income and her expenditure, is thus seen. But why, it will perhaps be asked, does Russia borrow at all under these cir- cumstances? For two reasons: First, to pay oflf more costly debts... — loans previously contracted at a higher rate of interest — and thus to unify her debt, both for her own economy and for the convenience of her creditors ;f second, to construct pub- lic works necessary alike for the development of her national resources, and in order that many of the great industries which this development has already called into existence, and which largely depend upon Government orders for their support, may not languish and disappear, and thus perhaps fail her when she needs them most.
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You can find similar books in the "Read Also" column, or choose other free books by Norman, Henry, 1858-1939 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
In FINANCE, COMMERCE, AND INDUSTRY 365 fact, from 1887 to Jpoi the Russian treasury has not received from new loans a single penny of capital more than the old capital it repaid its creditors."^ How baseless, therefore, is the widespread notion that Russia, like a spendthrift, borrows to fill the gap between her income and her expenditure, is thus seen. But why, it will perhaps be asked, does Russia borrow at all under these cir- cumstances? For two reasons: First, to pay oflf more costly debts... — loans previously contracted at a higher rate of interest — and thus to unify her debt, both for her own economy and for the convenience of her creditors ;f second, to construct pub- lic works necessary alike for the development of her national resources, and in order that many of the great industries which this development has already called into existence, and which largely depend upon Government orders for their support, may not languish and disappear, and thus perhaps fail her when she needs them most.
What to read after All the Russias: Travels And Studies in Contemporary European Russia ...?
You can find similar books in the "Read Also" column, or choose other free books by Norman, Henry, 1858-1939 to read onlineMoreLess
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