To save a situation that may or may not be past saving, capitalism is to be restored through a banking system managed by reliable conservatives. Banks, with proper reserve, 25 per cent. of which will be gold, will issue paper money to replace the rouble in domestic and foreign trade. The unit will not bd the rouble but the tchervonetz, a kind of Russian guinea. The first of these banks, known as the State Bank, hag already been had established and now has a capital of R. 20,000.000. The directors ara a Swedish financial expert, the Minister of Communications in tha firs Kerensky cabinet and another former cabinet minister who was it office under Count Witte in 1905. Similar banks will be tablished to take over the functiong of the State in the direction of communications, foreign trade, agriculture, industry and the like. These steps are obviously desperate measures being in themselves the negation of everything communistic. It is equally apparent that these coficessions are being made to attract foreign capital, without which ib would now be impossible to provide the.requisite reserves.
Text read from the printed page and cleaned; old type leaves the occasional error.