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country, but have no bearing on the public finances.
Besides these funds we have, however, a kind of roll
of public properties, drawn up in 1891. It amounted
to a total of 207½ million marks, of which 106¼
millions were the value of the government forests.
According to the prices of the last few years their
value is certainly more than double this latter figure.
The canals were reckoned at 21 millions, but have
a value of at least 25 millions. The farms which
belonged to the old army under the military tenure
system were valued at 7½ millions; the State
property which was formerly a part of the Russian
donations at under half a million; agricultural schools more
than 1½ million; and the old Crown-lands, properties
belonging to the civil administration and fisheries,
over 3½ millions. This roll of public properties
embraces also public buildings of different kinds,
barracks, schoolhouses, hospitals, &c., properties,
however, which have hardly anything to do with the
public finances. The total assets of a real financial
character, domains, capital-funds, railways and canals,
can be valued at about 600 millions, against a total
debt of 140 millions, including the new loan of
1901 of 25 million marks.
While we admire the excellent economy of the
Finnish Government, its forethought, and the sound
character of its ordinary public economy as well as of
the proportion between debt and capital, we may ask
whether there is not some lack of security consequent
on the relations with Russia. We do not think that
there is the least reason for doubt here. Whatever
may be said against the Russian Government and its
administration, it must be recognised that the Government
in St. Petersburg acts always on the very strictest
principle in all questions of finance and credit.
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