Russian economy under Alexander II and III

Question 1

Three people who were the ministers of finance

Answer 1

Mikhail Von Reutern, Ivan Vyshnegradsky, Sergei von Witte

Question 2

Main Reforms from Von Reutern

Answer 2

Tax-farming banned
Banks & Credit facilities extended (municipal, state and savings banks)
Trade promoted and reduction in export

Question 3

Positive effects of Von Reutern’s policies

Answer 3

Annual growth of 6%
Oil extraction began
Mining rich iron fields

Question 4

NEgative effects of Von Reutern’s policies

Answer 4

Russias economy is still weak
1/3 of expenditure went towards paying off debt
66% of government tax came from indirect tax
Peasantry stayed poor and domestic market was still small

Question 5

Ivan Vyshnegradsky’s main reforms

Answer 5

Tariffs raised in 1880s
Import tariff of 30% increase value of raw materals
Increased indirect taxes
Mounted a drive to swell grain

Question 6

Positives of Ivan Visnegradksy’s reforms

Answer 6

In 10 years grain exports increased 18%
By 1892 the budget was in surplus
Import tariff helped iron industry and development of industrial machinery
Production of iron and coal increase

Question 7

Negatives of Vishnagradksy’s reforms

Answer 7

Peasants paid taxes, had their grain taxes away, they did not have reserves for the winter
High levels of indirect taxes kept peasants poor
Widespread famine where thousands died

Question 8

What were Sergei von Witte’s reforms

Answer 8

Loans from abroad that went into industry
Workers from abroad oversaw industrial developments to advise planning techniques
Puts rouble on gold standard

Question 9

Positives of Sergei von Witte

Answer 9

4th largest industrial economy by 1897
Huge expansion in railway network e.g. Trans-siberain railway
Rouble becomes more stable

Question 10

NEgatives of Sergei von Witte

Answer 10

Main export was still grain