4. Witte Flashcards
Why did Russia modernise?
Be on the same level as other European powers
What did Russia’s want to be on the same level as other European powers mean?
Modernise
What was Inside Russia’s reserves?
Oil, Iron, Coal, Timber
During what period was Witte the financial minister?
1892-1903
Who was the financial minister between 1892-1903
Sergi Witte
Who’s idea did Witte support?
Reuterners
When were foreign loans negotiated?
1906
What did Witte want to do to interest rate and taxes?
Raise interest rates and taxes to boost available capital
When was the Russian currency placed on the Gold standard?
January 1897
What did Witte do in January 1897?
Witte places Russian currency on the Good Standard
What happened to coal production
Doubled between 1890-1905
What materials production double between 1890s-1905
Coal
What happened to iron and steel?
Production was 7 times greater
What material was 7 times greater during 1890s-1905?
Iron and steel
During what period did coal production double?
1890s-1905
What happened to the oil and chemistry industries?
New technology introduced
What happens to the oil and chemistry industry?
New technology introduced
What were the railway tracks length in the 1891?
29183
When was the length of the railway tracks in 1891?
29183
What was the length of the railway tracks in 1901?
52612
During what period did the railway tracks increase from 29183 to 52612?
1891 to 1901
How much did capital investment increase by between 1893-98
120%
In which sector did the investment increase by 120%
Capital every year between 1893-1898
During what period did capital increase by 120% every year
1893-1898
How many people were working class
11 million
11 million people in the population were …
Working classes
What was the nickname of the government that had overseen work?
Witte system
What was the Witte system?
nickname of the government that had overseen work
What financed the development in manufacturing
Loans from abroad
What was the percentage of increase in railways in 30 years
230%
In how many years did the railway increase by 230%
30 years