Alexander III Economy 1881-1894 (Unit 2, Topic 1) Flashcards
How much had the Agriculture changed for Alexander III at the Start of his Reign?
The country still remained agriculturally defiant with only little areas actually having agricultural success. New strips systems were implemented but yields remained low. Outside the Central regions large plantations were built for sugar-beets and dairy products. The Mir started using fertilizer and crop rotation was encouraged, they now used iron ploughs
What were the Aims of Mikhail Von Reutern to Change Economy?
-Encourage industrial growth by creating a more stable financial environment for private investors.
-Balance the budget
-Stabilize the currency
-Encourage industrial growth through government intervention
-No aims regarding agricultural productivity
What were the Actions Taken by Mikhail von Reutern for Finance?
-Tax farming was abolished
-The treasury was reformed with budgeting and auditory
-State Banks (1860), Municipal Banks (1862)
What were the Actions Taken by Mikhail von Reutern for Industry?
-Subsidies were offered
-Import tariffs were reduced (1863) to make raw materials and machinery more affordable for industries
-Guaranteed annual dividends for foreign investors
-Joint-stock companies regulated to protect investors
-Foreign experts were brought in (coal, iron, steel)
-The emancipation also meant a labour force was available
What were Mikhail von Reutern’s Failures of Finance?
-Failures-Finances-
-The value of the rouble still unstable
-1/3rd government expenditure still paying off debts
What were Mikhail von Reutern’s Successes and Failures of Industry?
-Successes-
-More investment in Russian industry
-Growth of metallurgy and cotton industries
-New industrial developments
-Growth of the railway
-An annual growth of 6%
-Failures-
-Textiles still the dominant industry
-Transport and labour mobility remained low
-Growth slow and remained weak relative to the West
-Peasantry still poor so consumer market was small
What were the Aims of Nikolai Bunge?
-Needs peasants to be wealthier and so they can become producers in the economic market
-Encourage industrial growth
What were the Actions made by Nikolai Bunge?
-Founded the Peasant Land Bank (1883)
-Nobles Land Bank (1885)
-Shifted tax law to more based on indirect levies
-Reduced then abolished poll tax (1886)
-Reduced redemption payments so less burden on the peasantry
-New tariffs on imported goods
-Encouraged construction of railways
What were Nikolai Bunge Successes and Failures?
-Successes-
-Increased government revenue allowing domestic industries to grow
-Supported iron production, industrial machinery, ships, weapons
-Railways grew to 17,000 miles by 1885
-Failures-
-He couldn’t avoid government borrowing
-There was still a state budget deficit
What was the Aim of Ivan Vyshnegradsky?
-Wanted to export as much grain as possible for profit to support industrial development
What were the Actions Taken by Ivan Vyshnegradsky?
-He exports as much grain as possible
-Curbed imports and state expenditure
-Increased taxation and exports
-Increased indirect tax on consumer goods
-Raised tariffs even more than Bunge on imports (30%)
-Pushed for the collection of redemption payments
-Negotiated French loans in 1888
-Protectionist policy boosts the iron, industrial machinery, weapons and railway production
What were the Successes and Failures of Ivan Vyshnegradsky?
-Successes-
-Grain exports increased by 18%
-Boosted iron, weapon, industrial machinery, railway production
-Doubled gold reserves
-Finally a budget surplus by 1892
-Agriculture production continued to expand by 2.1% annually between 1883 and 1914
-Failures-
-The peasants were left with insufficient grain to survive crop failure in 1891
-Government had to spend 444 million rubles to give aid to 13 million peasants, many died from a following cholera epidemic
