RUSSIA. 



50 copecks ; polpoltins, or quarter-rubles, of 25 copecks ; 

 double and (ingle grieven, of 20 and 10 copecks ; ar.d pieces 

 of 5 altins or 15 copecks ; payte-copecks of 5 copecks each, 

 and altins of three copecks, the two latter of which are 

 now nearly out of circulation. The copper coins are pieces 

 of 10 copecks, called grieven or grievnik, of 5 copecks or 

 pataki, which are the moil common, of two copecks or 

 grofch, of 1 kopeek ; alfo denufchkas or half-copecks, and 

 polufchkas or quarter-copecks. The following table mews 

 their mutual relation as to value : 



Ruble. Grievnik. Alt'me. Copecks. Denufchkas. Polufchkas. 

 I IO 3 } ' TOO 20O 4OO 



i 3; 10 20 40 



i 3 6 12 



1 2 4 



1 2 



Dutch ducats are worth 2 } ruble;, more or lefs ; Dutch 

 and Danifli rixdollars pafs for 1 ruble 40 copecks; or 14 

 rixdollars, weighing a Ruilian pound, ( 1 lb. I oz. 3 dwt. 

 2 gr. troy,) are worth 19 rubles 6 copecks. 



The finenefs both of gold and Giver is expreffed in folot- 

 niks, the pound or other weight being divided into 96 fuch 

 parts. The folotnik is alfo the Vet,' 1 part of a Ruffian 

 pound weight. By the ukafe, or edi£t, of 1763, the im- 

 perial was to weigh 3 ,\ folotniks, the half-imperial 1 14 fo- 

 lotniks ; and the gold to be 88 folotniks, or 22 carats fine. 

 Alfo, 118 ducats were to weigh a Ruffian pound, 93 fo- 

 lotniks fine, or 23^ carats. By the fame edift, filver of 

 72 folotniks, or 9 oz. fine, was coined into rubles and half- 

 rubles, at the rate of 17 rubles 6\ copecks per lb.; into 

 quarter-rubles and 20-copeck pieces, at the rate of 17 rubles 

 154^ copecks per lb. ; and into grievens and ij-copcck 

 pieces, at the rate of 17 rubles 2^1" copecks per lb. 

 Copper was coined at the rate of 16 rubles per pood of 40 

 Ruilian pounds. New regulations were ellablifhed by an 

 cdift of the emperor Alexander, in 1801 ; according to 

 which, 22} rubles are to contain a Ruilian pound of line 

 filver; and they are to be 83^ folotniks ( 1 1 oz. 8 dwt.) 

 fine ; and thus each ruble mould weigh 3204 Englifh grains, 

 and contain 277-^ grains of fine filver. It was alfo declared, 

 that no gold coin mould hereafter be Itruek in Ruflia, ex- 

 cept the imperial and half-imperial, the ltandard of which 

 was raifed to 94^ folotniks, or ZJj carats; and the weight 

 of the imperial reduced to 2J| folotniks, or 188; Englifh 

 grains ; by which the value is nearly the lame as before. 



According to thefe mint regulations, 



£ s. d. 

 The imperial is worth 112 oi } valued in Englifh 

 The ducat ---.09 1 } gold. 

 The ruble of 1763 -033 ) valued in Englifh 

 The ruble of 1 80 1 - o 3 il\ filver. 



The following is the report of an aflay lately made on a 

 number of rubles at the London mint, by order ol the B.a lk 

 of England. Rubles of 1763, weight from (4*dwt- *I gr. 

 to 15 dwt. 20 gr. ; average 15 dwt. S 1 , gr. ; fin 

 44 dwt. worfe than Enghlh, that is, 8 oz. 18 dwt. Rubles 

 of 1801, weight from 13 dwt. 2 gr. to 13 dwt. 12 gr. ; 

 average 1 3 dwt. 7 gr. ; finen< 1 . 1 4 dwt. worle titan Englifh, 

 that is, 10 oz. 8 dwt. Hence we have the value ol the old 

 ruble, 3/. 2d. flerling ; and of the new, 3^. 2'//. 



Befides the hard coin, " paper money'' conftitutes the 

 chief circulating medium or money ol Rufli.i, under the de- 

 nomination of " bank-allignations." Until the year I* 

 thefe notes of 100, 50, and 2; rubles in circulation were 

 eftimnted at the amount of 50 millions of rubles, They 



were fo readily taken through the whole empire, inftcad of 

 copper money, that, in many places, 1, 2, and as far as 

 5 per cent, agio muft be given to get paper money for copper. 

 In 1787 the old notes were liquidated, and a frefh ill tie was 

 made to the amount of 100 millions. They are at a per cent. 

 of ico. 50, 25, 10, and 5 rubles. By the ukafe of Au- 

 guft 3, 1788, it was ordered, that there fhould be never 

 more than 100 millions in circulation. It was cuftomary to' 

 convert them into copper money on demand at the afligna- 

 tion-banks ; but they fluctuate confiderably in value, and 

 with refpeft to gold and filver they are mofUy at a difcount ; 

 and even on copper there is fometimes an agio againfl them, 

 as they are not always paid off in this metal, when the fum is 

 confiderable. The ruble of exchange is fubjeft to a fimilar 

 depreciation. In 1770 this ruble and the paper ruble were 

 at par with the filver ruble ; in 1790 they were 20 per cent. 

 worfe ; in 1799 the paper ruble was 60 per cent, below par, 

 and the ruble of exchange 50 per cent. ; in 1803 tne P a P er 

 ruble was 20 per cent., and the ruble of exchange 10 per cent. 

 below par; and in 1808 they were 100 per rent, worfe, 

 that is, 1 filver ruble was worth 2 rubles of exchange, or 

 2 of bank paper. 



Bills of exchange are paid in copper, or bank notes ; but 

 this chiefly regards inland bills, as foreign merchants fcarcely 

 ever draw on Ruflia. The commercial debts here are 

 ufually fettled by drawing and remitting bills on foreign 

 countries. 



Peterfburg, Archangel, Mofeow, &e. draw on the fol- 

 lowing places, and give Amfterdam 1 ruble for 37 Itivcrs 

 current, more or lefs, at 65 days' date ; Hamburgh, 

 1 ruble for 34 fchillings or fols banco, more or lefs, at 65 

 days' date; London, 1 ruble for 38^/. iterling, more or 

 lel>, at 3 months' date. 



The ruble here mentioned is not the filver ruble, but the 

 ruble of exchange, which, as we have juft Rated, is fubjedt 

 to great fluctuations. 



Bills drawn in Ruffia, payable after date, a/e allowed 

 10 days' grace ; but if payable at fight, 3 days only ; but 

 bills payable at fo many days after fight are not allowed any 

 days of grace. 



During the reign of the emprefs Catharine, three different 

 banks were eltablifhed at Peterfburg, viz, the Loan-bank, 

 the Aflignation-bank, and the Loan-bank for the nobility 

 and towns ; and during the reign of the emperor Paul, the 

 Aid-bank and Difcount-office were eltablifhed. 



The " Loan-bank, or Lombard," lends money on gold, 

 filver, jewels, &c. A year's interelt is taken in advance, 

 which, according to the legal rate, is 5 per cert. No in- 

 terelt is paid for money drawn out, on giving two days' 

 notice ; but if a declaration be made, that the money will 

 be left there a year, and that a notice of three months fhall 

 be given of the intention to draw it out, the legal interelt is 

 allowed, payable in the fame kind of money in which the 

 depofit was made. The property of this bank belong W' 

 the Foundling-hofpital at lVtcrfhurg. 



The "Aflignation-bank" was opened in Peterfburg and 

 Mofeow in the year 1770, and brai eh of it have been ex- 

 tended to Yaroflaf, Smolcnfk, Veliki-Ultiug, Altr.ich.ei, 

 Niflinei-Novgorod, Vifchnevolatfchok, Novgorod, Pfi 

 Tver, Nelelma, Kief, Kurlk, Kharkof, Tamhof, I 

 Tula, Kazan, Kherlon, Archangel, Riga, and Revel. 

 This bank iffues notes for 5, 10, 25, 50, and [OO rubles. 

 In 1786 it was converted into an imperial cilablilhmcnl, 

 when all the old notes 1 in, and exchanged lor 



new ones. It is engaged that thefe notes are to be reiui- 

 burfed on demand m copper money, and that the total 

 amount fhould not exceed 100 millions of rubles; but the 



number 



