Chapter 6 Flashcards
Economic and social developments
Who was Alexander II’s Minister of Finance from 1862-78?
Mikhail von Reutern
What reforms did von Reutern introduce about taxation?
New arrangements for collecting taxes and publishing the budget reformed the Treasury and tax farming was abolished
What new form of company did von Reuten introduce?
Joint-stock company
What reforms did von Reutern introduce in terms of banks and subsidies?
Banks and credit facilities were extended, with state banks being introduced in 1860 and saving banks in 1869. Government subsidies were introduced to develop railways
What did von Reutern’s reforms encourage to boost the economy?
Opportunities under government subsidies encouraged entreprise and foreign technical expertise supported capital expansion
What was the average growth rate during von Reutern’s term in office?
6%
What industry remained dominant in spite of new emerging industries?
Textiles
What major industries were introduced in 1871 and 1872 respectively and where?
Oil extraction and ironworks, which were introduced in the Caspian Sea Port of Baku and Donetsk
What extraction was introduced in1879 to exploit coal and oil further?
The Naphtha Extraction
What percentage of government revenue came from indirect taxation after the Emancipation Edict?
66%
What was Vyshnegradsky’s impact on tariff reform?
He introduced a prohibitive import tariff of 30% which boosted home production and helped the iron industry in Southern Russia
What was the result of Vyshnegradsky moving to swell grain?
From 1881 and 1891, grain exports increased by 18%, leading to a surplus for the first time in 1892
Which serious economic event destroyed Vyshnegradsky’s politcal career?
The Great Famine 1891-92
What did Witte believe would modernise Russia’s economy?
Protective tariffs, heavy taxation, forced exports to generate capital and additional loans from foreign investors
Which countries helped Witte in the development of the railway network?
France, Belgium, Germany, Britain and Sweden