Page:The Russian Review Volume 1.djvu/62

46 to reach the sum of 2,782,000,000 roubles, as compared with the budget estimate of 3,132,200,000 roubles.

The extraordinary receipts during the first three quarters of the year reached the sum of 5,632,400,000 roubles, of which 1,464,400,000 roubles were yielded by home loans.

The expenditures caused by the War amounted, during the first nine months of 1915, to 6,064,000,000 rubles. The total war expenditures during the year reached the sum of 8,000,000,000 roubles.

The Budget for 1916 was prepared with the assumption that the War would last during the whole current year. While recognizing the necessity of a thorough revision of the existing system of taxation in order to provide the government with larger revenues, and, at the same time, to distribute more equitably the burden of taxation, the Ministry realizes that these changes cannot be effected immediately. It therefore asks to be permitted to extend until January 1, 1917, and January 1, 1918, those measures which will expire before these dates.

The revenues for the current year are estimated at 2,923,083,005 roubles, and the expenditures at 3,250,915,197 roubles. Thus the estimated revenues are reduced, in comparison with the estimate for 1915, by 218,091,309 roubles.

The Budget for the current year shows several peculiarities. The most remarkable of these is the effect of the complete liquidation of the government Spirits monopoly. This liquidation caused a decrease in the government revenues of 94,400,000, as compared with the total from this source in 1915. The complete revenues from the alcohol monopoly are estimated at 49,900,000 roubles, to be collected on alcohol used for technical, industrial and medicinal purposes. It should be noted that, despite the extreme difficulties caused by the War, it seems quite possible to cover the deficit produced by the withdrawal of alcohol revenues, by gradually increasing the other means of raising money. As for the beneficent results of temperance upon the country's population, they are evidenced by the increased productivity of labor, the rapid growth of savings, and the decrease of crime. All this justifies the hope that the loss of alcohol revenues, which is quite a heavy one for the Ministry of Finance, will bring ample recompense in increasing the general prosperity, and hence improving the other sources of revenue.

Another peculiar feature in the Budget is the increase of the interest that must be paid on government loans. The amount paid out in 1915 was 404,300,000 roubles; the estimate for 1916