The main object of this study is to trace the evolution of Franco-Russian financial relations within the framework of the political alliance. In the first chapter the reasons which made it imperative for Russia to resort to foreign credit are examined in a general manner; the forms in which French capital entered Russia are briefly described, the statistical sources available are subjected to a critical analysis and an attempt is made to assess the evolution of Russia's government debt from year to year. In the second chapter the application of French credits by the Russian Government are examined with an endeavour to assess the effect of these credits on the Russian economy. The third chapter analyses the motives which prompted the French public and the banking houses to entrust a large proportion of the nation's savings to Russia. The stable factors which influenced the attitude of the public are examined and subsequently the particular circumstances which affected this attitude to each specific Russian loan are traced. The fourth and fifth chapters deal with French investment in Russian private enterprise. They describe the pattern and evolution of this investment; assess the importance of foreign capital in general and French in particular in relation to tota1 Capital investment in joint stock companies in Russia and the contribution of French capital to the development of specific industries and regions; analyse the power wielded by the French by virtue of their large capital participation in Russian private enterprise, and the attitude of the French Government towards this type of French investment in Russia. The sixth, seventh and eighth chapters trace the relations between the French and Russian Governments in connection with Russian appeals for credit. In the sixth chapter the respective attitudes of the French Foreign office and the Finance Ministry to Russian credit appeals during the period 1897 to 1903 are analysed and an attempt is made to trace the story of the Russo-Chinese Bank as one of the factors which influenced the attitude of the French Government during this period. In the seventh and eighth chapters the interconnection of the diplomatic and financial factors during the Russo-Japanese War and the Algeciras Conference is traced.