Page:The Russian Review Volume 1.djvu/63

Rh is 542,800,000 roubles, i. e., an increase of 34 per cent. The government debt is growing constantly on account of new loans, and, consequently, the amount of interest paid out is also bound to grow, mounting, perhaps, above the estimated figure.

The Budget must also take into account the very important circumstances that the territory invaded by the enemy is no longer a factor in the country's finances. The influence of this elimination is more noticeable in the case of receipts, than of disbursements. The decrease of revenues, due to the loss of the Vistula governments, and also the governments of Cholm, Vilna Grodno and Courland, is 141,200,000 roubles in comparison with the returns in times of peace, and 69,000,000 roubles in comparison with 1915. Due to the same cause, the receipts of the railroads, operated in this territory, decreased by 144,800,000 roubles. At the same time, the saving of expenditure on account of the evacuation of this territory was only 59,800,000 roubles.

The total Budget deficit for the current year is estimated at 327,800,000 roubles. It is hoped that this deficit will be wiped out by credit operations, which are also expected to cover the expenditures caused by the War, the amount of which is estimated for the current year at over 8,000,000,000 roubles.