- Project Runeberg -  Finland : its public and private economy /

(1902) [MARC] Author: Niels Christian Frederiksen
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of these debased notes for the same quantity of
merchandise, made large profits by placing the notes with
their customers, who only understood later that they
were steadily decreasing in value. As is always the
case when money is decreasing in value the lower
classes and the remoter districts of the country were
the chief sufferers, because it took time before the
decreased value became known there. Even in the
interior of Eastern Finland commerce still took the
same old route as before, over Ostrobothnia into
Sweden. Only the province of Viborg, which was
used to Russian money, because the people were
accustomed to Russian rule, and trade with St. Petersburg
was larger, continued to employ it. It was reckoned
that at this period half the money in the country
consisted of Swedish notes. Decrees were issued then
and repeatedly afterwards that taxes should be paid
in roubles, that all bills and commercial arrangements
should be negotiated in them, and that the small
Swedish notes should be confiscated and given to the
informant, but without result. Several times the
government were forced to allow taxes to be paid in Swedish
money, because otherwise it could get nothing; and
the outcome was that during the greater part of
this early period, notwithstanding all decrees, matters
remained in statu quo. The Finnish Bank which was
now established tried in vain to replace the small
Swedish notes by its own issue of notes of twenty, fifty, and
seventy-five kopecks, as well as of one, two, and for some
time of four roubles. By 1821 it had succeeded in
getting a little over 2 million roubles into circulation;
but this amount decreased afterwards till in 1833 it
was 828,000 roubles; and it was some time later
before it again rose to between 2 and 3 million
roubles. It was only in 1840, when the Finnish

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