RUSSIAN DEFAULTING BONDS.
Although it will probably be many a long day before either political or financial developments in Russia bring about a return to the unfortunate foreign bondholders of that country of any resumption of interest on the many millions invested in Russia, I am glad to note that those concerned in protecting the interests of the bondholders are not unmindful of preparing for the event, however far distant. For some time past there have been committees in the various countries affected, having for their object the protection of holders of Russian Bonds, but it has, I think, very wisely been determined that, with a view to co-ordinating the efforts of these various organizations in different European countries, an International Committee shall be formed for the protection of Russian bondholders as a whole. This committee is to concern itself exclusively with bonded debts and will have an agreed policy on 'the subject of debt settlement. Although there is no immediate prospect of any discussion on the subject, it is thought that the existence of an authoritative organization, competent to deal with the question when and if it does arise, will be an advantage both from the Russian and non-Russian point of view.
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