Economic Transformation By 1903

Question 1

Banks

Answer 1

State bank - 1860
Municipal bank - 1862
Savings bank - 1869

Question 2

Import duties

Answer 2

Reduced in 1863

Reverted 1878

Vyshnegradsky imposed 30% tariff of raw materials and worth

Question 3

Government aid

Answer 3

Subsidies for railway companies

Government support for cotton industry - American civil war meant large gap in market (1861-65)

Question 4

Expansion of resources

Answer 4

Oil tapped in Baku 1871
Iron works in Donetsk 1872
Iron mining 1879

Question 5

Grain

Answer 5

Exports up by 18%

But this made peasants poorer and live worse - 1892 famine

Question 6

Middle class

Answer 6

1882 - 700+ nobles owned business in Moscow

Formed bankers, doctors, teachers and administrators

Question 7

Gov expenditure

Answer 7

1/3 Gov expenditure on debt repayment

Question 8

Rouble

Answer 8

Worth fluctuated (unstable)

Question 9

Gov revenue

Answer 9

66% from tax

Question 10

Foreign investment

Answer 10

1880=98m

1895=280m

Question 11

Global position

Answer 11

4th largest by 1897

But low yield compared to Europe