WHY RUSSIA SHOULD AVOID WAR.

Timaru Herald, Volume XLI, Issue 3268, 18 March 1885, Page 2

WHY RUSSIA SHOULD AVOID WAR.

(Dunedin Star.) We are indebted to the " History of British Commerce," by Leoni Levi, for very interesting particulars as to the effects on trade and finance of the war declared by England against Russia on March 28th, 1854 (the Crimean War.) Mr Levi states that comparatively little of Br tish manufactures and produce is exported to: Russia ; but the imports from that country into the United Kingdom of grain, tallow, seed, hemp, flax, wool, and timber are of the greatest import' ance to Russian commerce. Connected -with these imports are circumstances which, on - the declaration of war, seriously affected British traders. The produce comes from distant provinces, and is brought to the shipping ports m the depth of winter, when snow gives facilities for, or, it might be said, m many instances renders transport possible. It is then ready for shipment m the open season m the Baltic and White Seas, which is from May to November. In order to get the produce forward m time the London houses are under the necessity of making large advances m cash to native dealers to enable them to proceed into the interior, perhaps thousands of miles, with the means of purchase and of fulfilling their contracts. These advances are made m cash m St. Petersburg, and are provided on the spot either by remittances from. London or by drafts from St. Petersburg by the English agents there of the London houses. About seven millions of capital and many British vessels were thus engaged m the Russian trade when friendly relations between the two countries were broken off ; and had not the actual outbreak of hostilities been deferred by negotiations until as a fact the produce was able to be shipped, enormous losses must have been sustained by English houses. As might have been expected, all articles of Russian produce, on the declaration of war, went up enormously m value. Tallow, usually, at 36s to 38b, rose to 64a; hemp, from £30 to £47; linseed, from 44s to 54s per quarter. The large imports from other countries failed to materially relieve the market. In regard to the public funds (rightly considered the pulso of the nation), it is to be especially noted that whilst m April, 1853, consols stood at 101, on March 30th, 1854, fortyeight hours after the formal declaration of war, they fell to 85J. The present quotation — 97i — although a somewhat considerable fall within a few weeks, cannot therefore be taken to afford any reasonable ground for alarm It is, on the contrary, so high a«, m our mind, unmistakeably to indicate that little apprehension of war is felt on the London Stock Exchange. In conclusion, we may quote a few figures significant as to the material effect of the Crimean War on the trade and commerce of Russia. In the year 1853, the exports of Russia (m Europe) amounted m value to £22,000,000 ; m 1854 they fell to £8,776,000, and m 1855 to £4,618,000. The imports m 1853 were m value £14,295,000 ; m 1854 only £8,699,000. The progress towards financial and commercial ruin was rapid. Russia surely will not be m a hurry to repeat such experiences.