economic Flashcards
Who was the minister of finance from 1862 to 1878?
Mikhail von Reutern
Who served as minister of finance from 1887 to 1892?
Ivan Vyshnegradsky
Who was the minister of finance in 1892?
Sergei Witte
What was the impact of population increase on the Russian economy between 1855 and 1914?
Economy increases and pressure increases
What was the percentage of the Russian railway system under state control by the 1890s?
60%
What was the total foreign investment in Russia by 1914?
2000 million roubles
Fill in the blank: The Trans-Siberian Railway provided a huge _______ stimulus.
industrial
What was the coal output increase from 1894 to 1914?
183 million puds to 671 million puds
What percentage of government expenditure went on debt repayment during this period?
1/3
True or False: Witte’s policies included raising import tariffs to boost home production.
False
What major change occurred in agriculture under Witte’s policies?
Little changed in agricultural production
What was the average landholding for peasants by 1914?
Less than 4 hectares
Who introduced a 30% import tax to boost home production?
Ivan Vyshnegradsky
What was the significant outcome of the 1891-92 famine?
Thousands died and 350,000 were dismissed
What was the goal of Stolypin’s land reforms?
To transform Russia into a stable, prosperous country
Fill in the blank: The new rouble introduced in January 1897 aimed to strengthen the _______.
currency
What was the average annual growth rate of industrial production from 1908 to 1914?
6%
What was the primary focus of Witte’s industrial policies?
Establishment of an industrial base for military power
True or False: By 1914, only 18% of Russians lived in towns.
True
What was a major failure of the Russian economy by 1914?
More debt than any other country, owing 8 billion roubles
What was the response of peasants to Stolypin’s reforms?
Mixed; some relished the chance to escape, others viewed separators as traitors
What did the introduction of the gold standard in 1897 aim to achieve?
Boost confidence in the rouble and reassure investors
What percentage of total industrial production did consumer goods represent by 1914?
45%
What was the growth in land owned by peasants from 1877 to 1905?
From 6 to 21.6 million hectares
What was one of the main weaknesses of agricultural policies from 1861 to 1914?
Quantity of land decreased
Russian economy 1855- 1914
Population increase = economy increases and pressure increases
Industry specialised in areas
Modernisation of industrial output overall pos
Rndustrial develop 1908-14 roubles doubled
Foreign investment in 1895 = 280 million roubles
Mikhail von Reutern reforms
- Treasury reformed, new arrangement to collect tax eg publishing budgets- stabilise economy, more efficient tax collection=more money
- Tax farming abolished, tax system reformed = indirect taxation- easy way to raise money
- State bank established 1860 , extended banks and credit facilities, municipal banks 1862 , savings bank 1869 – encourages businesses
- Import duties reduced 1863 = increased trade
- Foreign investment encouraged with gov guanteed annual dividend
BUT RUSSIAN ECONOMY STILL WEAK – 1/3 gov expenditure went on debt repayment, and rouble varied in its value, peasants still poor
ROLE OF WITTEV
had introduced meausres – cuts in public spending, steeper duties on imports, in crease peasants tax
Witte = hardheaded conservative, saw industrialisation as for strategic and political reasons
Strategic
Believed russias backwardness = vulnerability , industrial strength determined military power. Top priority = establishment of industrial base to produce high quality armaments and improvement in transport networks
Political
Would strengthen tsarist regime. Be able to reduce tax burden on peasantry
wittes Policies :
Gold standard - rouble convertible on demand into gold in 1897 – to boost confidence in rouble, reassure investors no money loss thru fluctuations in currency exchange rates
Led to sharp increase in flow of foreign investment in russia
Import duties- retained the high duties of V = protected russian indsutries from low price foreign competition
Railways - massive programme of state sponspored railway buiding- center = construction oof trans-siberian railway
Education – more than a hundred technical schools, 3 institutes of technology
