ECONOMIC CRISIS.

Taranaki Daily News, 20 December 1917, Page 3

ECONOMIC CRISIS.

THE POSITION IN RUSSIALOVAT FRASER-'S REVIEW. In connection with the latest Russian development Mr. Ixivat Eraser's review of the Russian position is most interesting. This well-known English authority on Continental affairs writes; — The Western Allies are slowly realising that at the best Russia can furnish no really effective military help, but they don't yet realise the possible consequence of Russia's breakdown. Europe cannot bo reconstructed on a safe and sans bfisis if Russia falls to pieces. Germany will have a chance beyond her wildest dreams. It is famine which will, 1 fear, accentuate and prolong the present crisis. Michaelis evidently knew what he was talking about when he mentioned Russia in his speech to the Reichstag Commistee on Friday. He said nothing about the army or Riga. He seems to have merely observed in his concise and stolid way-. "In Russia a grave economic crisis resign. Transport especially is totally inadequate!" He was quite right,- and it was not necessary to say more. The financial situation in Russia is full pf menace* and is like a lunatic's dream. The authorities 'have for a long time been printing rouble notes to the extent of about five million pounds a day, though the actual value of the notes ilocs not equal the face value. They have printed such masses of these notes that they have run short of paper, and to economise paper they arc said to be now printing no notes having a lower face value than about £25. This means it. terrific crash in the end. - Meanwhile the Soviet or Workmen's and Soldiers' Council in Petrograd is raid to be drawing £70.000 a month for the payment of the members of the committee, very few of whom are soldiers, while hardly any are workmen. They hold no official position, and are plundering the public fund: although pacifist newspapers in England fell us that the mem'bers of the Soviet are the saviours of the country. Many English taxpay-' ers would like to know whether they are still being taxed to send more money to Russia. The menace of the military situation in Russia is that the army has almost ceased to have any fighting Value. For courage and endurance the individual Russian soldier will bear comparison with any troops now in the field, but discipline is the cement ol armies, and without it they become useless mobs. The desertions in Russia have been enormous. Swarms of soldiers have hurried hack to their villages to share in the division of the land which they were told was now theirs for the taking. Those who remain under arms have been taught not to obey their officers, and think they can do as they like. The Commisisonaries and Committees have ruined the remnants of the TJussian army. We live in an age of little men, and so far Russia 'has produced no big man capable o ? cor«tru'*ive statesmanship,