p Mr. Tikhomirov does not acknowledge the successes of Russian capitalism. We ourselves are prepared to say to our bourgeoisie: "What thou dost, do quickly."^^178^^ But, "fortunately or unfortunately”, they do not need to be urged on. Mr. A. Isayev, in his objections to the Russian "state socialist’s" book, drew the reader’s attention to our manufacturing industry.^^179^^ He was of the opinion that the recent Russian exhibition could provide the best answer to premature rejoicings over the allegedly wretched "destiny of capitalism in Russia”. "The class of fibrous materials is worth developing”, he said, "it holds out prospects of millions. We have a fair number of factories, even for linen production, which bring a million to a million and a half yearly. And in the cotton goods class the figure of one million is a completely negligible one. The Danilov Manufacture produces 1.5 millions’ worth a year, the Giibner factory 3 millions’, the Karetnikovs factory 5.5 millions’, the two Baranov firms 11 millions’, the Yaroslavl manufactory association 6 millions’, the Prokhorovs’ 7 millions’, the Krenholm Manufacture up to 10 millions’, and so on. The sugar mills also give an enormous production of 5, 6 and 8 millions’ worth. Even the tobacco industry has its millionaires.... And the figures for 1878-1882 show a large expansion in production, which slowed down during the Russo-Turkish War”. These and many other 238 facts led Mr. Isayev to conclude that "large private capital production in Russia is growing uninterruptedly".  [238•*  Nor is he alone of this opinion. The last All-Russia Exhibition convinced Mr. V. Bezobrazov that in our industry "the progress of the last ten years (since the 1870 Petersburg Exhibition) is obvious; in comparison with the state of affairs twenty-five years ago this progress of our industry—particularly manufactory—is enormous: the industry is unrecognisable in many respects.... Besides improvement in the quality of products we must also note the enormous expansion in all branches of our industry during the last 25 years. This expansion is especially remarkable in the last decade, since the end of the crisis caused by the abolition of serfdom and the Turkish War. To see this one has only to compare our manufacturers’ bills with the reports given by the latest official Ministry of Finance statistics. These are for 1877. Comparison of the figures for manufactory production in 1877 and 1882 (figures for the latter from bills) shows a tremendous increase in the quantity of products for these five years: it has doubled in many big enterprises.  [238•**  A very large number of factories have been established in the last five years. Industries for processing fibre (silk, broadcloth, linen and cotton) hold first place. Our cotton industry has been enormously developed; some of its products can stand comparison with the most up-to-date and beautiful in Europe".  [238•***  These conclusions drawn by scientists are fully confirmed by the correspondent of Vestnik Narodnoi Voli quoted above, who personally observed the "enormous successes" of large-scale production in our country. Finally, foreigners who have written or who write about Russia say the same thing. They already place some branches of our industry on a level with those of Western Europe. Thus, sugar production, according to Ed. de Molinari, is "au premier rang de 1’industrie de 1’Europe".  [238•****  In 1877 Russian refined sugar even appeared on foreign markets, particularly in France. Alongside 239 of such facts the striving towards and influx of foreign productive capital in our country is a sure sign that capitalism finds there a convenient field of development. We see that foreign capitalists are looking with growing attraction towards Russia and let slip no opportunity of founding new industrial establishments there. What would be the meaning of that tendency if industry there were really developing as “sluggishly” as it seems to Mr. Tikhomirov? But the fact is that this opinion is defended mainly for the sake of a doctrine for the triumph of which our exceptionalist writers are prepared to ignore a whole series of absolutely categorical facts. "Sluggish development" is a feature not so much of Russian capitalist production as of those of our revolutionaries whose programmes cannot conform to our contemporary reality.

p And what about capitalist accumulation, money circulation in the country and credit operations? Their successes are in truth enormous. Before 1864 we had hardly any private credit establishments; this year "the State Bank capital reached 15 million rubles and various individuals deposited 262.7 million rubles at interest, out of which sums only 42 million rubles were expended on the needs of trade (23.1 million were issued against bills of exchange and 18.6 million as subsidies on securities)”. Thirteen years have elapsed and the state of affairs has changed beyond recognition. "By 1877 the capital of all the credit establishments already totalled 167.8 million rubles and individuals deposited 717.5 million at interest (percentage, current account, time deposits, etc.), i.e., capital increased by 1,018 per cent, current accounts, deposits, etc., by 173 per cent, in all, by 220 per cent; consequently, these sums more than trebled. At the same time their distribution also completely changed. In 1864 15 per cent only of these sums was issued in subsidies or on bills of exchange, but by 1877 96 per cent, that is, almost the whole of the sums, was invested in the bills of exchange or subsidies.... Subsidies rose from 1864 to 1877 from 18.6 million by 337.9 million, or by 1,829 per cent. The growth of the accounting operations—trade operations in the narrow sense—was still greater in the same time: from 23.7 million the sum of account bills rose to 500 million rubles, i.e., by 2,004 per cent!! While the sums invested at interest increased, their mobility was more than doubled. In 1863 the investments circulated less than twice, but in 1876 4.75 times.

“Credit and the railways hasten the transformation of natural economy into money economy. And money economy— commodity economy, is capitalist economy; consequently, both credit and the railways hasten the turning of the economic conditions of production under which the producers are the owners of the 240 instruments of production into conditions under which the producers become wage-labourers."  [240•*