THE RUSSIAN AMERICAN COMPANY. 79 



OriNION OF THE COUNCIL OF STATE.* 



The Council of State in tlio T)(']iartniont of tli(^ Iin])orial Domain in 

 its general session liaviiig eonvsidrred tlie rei)ort of the Minister of 

 Finance concerning the revision of the chaiteiof thelinssian American 

 Company and the organization of the llussian American Colonies, ren- 

 dered the following (»])iiiion: Jn moditication and explanation of the 

 respective provisions contained in the opinion of tlie Conncil of State, 

 ai)in"oved by tlie P^mi)eror on Jnne 14, 1SG5, concerning the principal 

 featnres of the new charter of the IJnssian American Company and of 

 colonial regnlations, it is ordained: 



1. (As to Article 1.) The <lnration of the privileges to be granted for 

 twenty years to thellnssian American Company shall be reckoned from 

 the date of the approval of the charter, and not from Jannary 1, 1862. 



2. (As to Article 1;"), letter a.) The exclnsive riglitof the Companyto 

 engage in the fnr trade tlnoughont the entire colonial territory shall be 

 continued; provided that tlie manner of carrying on such trade shall 

 be determined by regulations, to be prescribed upon consultation with 

 the Ministry of lm])erial Domains. 



3. (As to article 2.) The Company shall be allowed, as a temporary 

 measure, for four years to issue tickets for use in the Colonies instead 

 of coin, on condition tliat the total amount of such tickets shall 

 be determined by the new charter of the Comjiany, and that the 

 tickets shall not have a compulsory circulation, but be received by 

 voluntary agreement of the purchasers, and that the Company shall 

 be bound to keep for the redem])tion of the tickets a suflticient fund in 

 law^ful money; the details and conditions of this matter shall be deter- 

 mined by the new regnlations and charter of the Company. 



4. (As to Articles 8 and 1>.) The provisions to be included in the new 

 charter of the Comi)any concerning the opening to free trade of the ports 

 of IS'ew Archangel and Sitka, and of St. Paul, on Kadiak Island, and 

 the introduction into the Colonies generally of such trade and of indus- 

 tries, also the provisions concerning the importation and sale of siiir- 

 ituous liquors, and the supplying of arms and powder, shall be in 

 accordance with the propositions now submitted by the Company; pro- 

 vided, that the commercial monopoly heretofore enjoyed by the Company 

 shall under no pretext be continued. 



5. The Company shall be allowed to increase its original capital by 

 the issue of stock subject to gradual redemption in twenty years, which 

 redemption shall be effected by the Company from its own resources, 

 without any guarantee on the j^art of the Grovernment. 



6. In regard to an annual subsidy from the Grovernment to the Com- 

 pany, the Minister of Finance is instructed to submit a report, after due 

 consultation with the Company, and in proper time and usual course of 

 procedure. 



7. Further necessary stejis for the preparation of a new charter of 

 the Company and of the colonial regulations shall be taken by the Min- 

 ister of Marine in the manner indicated in the opinion of the Council 

 of State, approved by His Majesty June 14, 18()5. 



All previously confirmed principles of the decision of June 14, 1805, 

 remain in force. 



1 Copied from the journals of the Imperial Councils of Public Domain, Januarj- 15 ancl 

 March 2, and of the Plenary Council of March 14, 1866. 



