When was Mikhail Von Reutern Minister of Finance
1862-78
list some of Mikhail Von Reutern’s reforms
- encouraged foreign investment in Russia with government guaranteed annual dividend
- trade was promoted with the reduction of import duties from 1863
- Government subsidies were offered to enable private entrepreneurs to develop railways
results of Mikhail Von Reutern’s reforms
- annual average growth rate of 6% during his term in office
- Oil extraction began in the Caspian Sea port of Baku in 1871
- Russia’s economy remained comparatively weak
- a third of all government payments went to repayments of debt
- 66% of government revenue came from indirect taxation
When was Ivan Vyshnegradsky Minister of Finance
1887-92
list some of Ivan Vyshnegradsky reforms
- Import tariff of 30% of the value of raw materials was introduced
- negotiated a loan from France in 1888
- increased indirect taxes and increased grain exports
results of Ivan Vyshnegradsky reforms
- tariffs improved home production
- grain exports rose by 18% and by 1892 the Russian budget was in surplus
- exports came as a result of higher taxes on peasants
- removed the stores of grains which played a large part in the 1891-92 famine
When was Sergei Witte Minister of Finance
1892-1903
list some of Sergei Witte’s reforms
- sought additional loans from abroad which went into oil, mining, metal trades and banking
- encouraged foreign engineers, managers and workers to get jobs in Russia
- had heavy taxation and large tariffs with a big focus on exporting
results of Sergei Witte’s reforms
- foreign investment increased by 182 million roubles between 1880 and 1895
- there was a huge growth in the railway network
- Russia’s rate of growth made it the world’s fourth-largest industrial economy by 1897
- large increase in Russian exports and foreign trade (yet still mostly grain)
facts about the great famine
- 1891-92
- affected 17 of Russia’s 39 provinces
- there was an early winter and a long summer
- the lack of food made people more susceptible to disease
- over 350,000 died
was there much change to agriculture after the emancipation reform
- No
- Engelgardt said ‘everything carries on as it was before the emancipation’
how did farming change for the average peasant
- the average peasant received less than four hectares
- there were high taxes, grain requisitions and redemption payments
- their yields remained low compared to western Europe
- land banks offered large loans which only increased debt
what was the main agricultural problem
the average peasant owned too little land to become prosperous
How did Russian grain production compare to UK and France
Russia - 45 puds per desiatin
UK & France - 146 puds per desiatin
How did Russian grain production compare to France and USA
Russia - 54 puds per desiatin
France & USA - 68 puds per desiatin
