Alexander II Industrial reforms Flashcards
1
Q
Was was finance minister from 1862-1878?
A
Von Reutern
2
Q
What prosperity happened during this period?
A
Tax farming abolished. State bank extended to the public in 1860. Reduction of import duties so trade was promoted. Government subsides was offered to entrepreneurs to develop railways. Foreign investment encouraged with annual dividend. Oil extraction began in Baku in 1871.
3
Q
Why could Russia take advantage of the American civil war?
A
There was a decline in American industry which Russia could take.
4
Q
From 1862-1878 what was the growth rate?
A
6%
5
Q
What decline happened in this period?
A
Economy was still weak, government expenditure 1/3 on debts. The tariffs reduction meant a decline in government revenue and it was raised in 1878.
