Industrialisation Flashcards
When was Von Reutern Minister of Finance?
Von Reutern (1862-78)
When was Vyshnegradsky Minister of Finance?
Vyshnegradksy (1887-92)
When was Count Witte Minister of Finance?
Count Witte (1892-1903)
Who drives Russian industrialisation?
The state
What did Von Reutern do?
- Creates a banking system
- Begins a process of government subsidy (government will give money to enterprises to set themselves up)
- He began the process of encouraging foreign investment
- implemented a rail network
How successful was Von Reutern?
Annual average growth rate of 6% while Von Reutern was in office
What was Von Reutern focused on?
He particularly focused on cotton and mining
What does Vyshnegradsky do?
- He goes to Europe and encourages foreign investment
- He mounted a drive to increase grain exports on the back of the peasants
- Increased indirect taxes and tariffs
When was the great famine?
1891-92
What did Russia continue to do during the great famine?
Export grain
Vyshnegradsky quote about the Great Famine
Vyshnegradsky - “we ourselves shall not eat but we shall export”
Why was Vyshnegradsky removed as minister?
He was blamed for the Great Famine
Did the State help their population during the Great Famine?
The Russian state failed to provide relief during the Great Famine
Who provided the relief during the Great Famine and what was the effect?
- The Zemstva and the Town Duma’s provided the relief
- This weakened the autocracy as Alexander III was trying to weaken the powers of the Zemstva
What did Count Witte do?
- Takes a massive loan from the French
- Investment from other countries would go into mining, the metal trades, oil and banking
- Focused on expanding the russian rail network
Evidence that the industry was doing well
- By 1897, Russia was the fourth largest industrial economy in the world
- By 1914, it had the second only to the US largest amount of railway track in the world
What does Russia export?
Grain
How does the State have the funds for industrialisation?
Led by Vyshnegradsky, they tax the peasants and requisition grain from the peasants
How did the State strengthen Russian businesses?
30% tariff on all imported goods to strengthen Russian businesses
By how much did exports of grain increase?
Exports of grain increased by 80%
What % of all government spending went towards repayment of debt?
⅓
Evidence of success under Vyshnegradsky?
Between 1881-91 grain exports increased by 18% and by 1892 the Russian budget was in a surplus
Evidence of Success under Witte?
By 1897, Russia was the 4th largest industrial economy in the world
