Witte Economy

Question 1

What type of minister was Witte?

Answer 1

Finance

Question 2

What years was Witte finance minister

Answer 2

1892-1903

Question 3

Which tsar was in power

Answer 3

Nicholas II

Question 4

What was the annual growth of the economy. Between 1894 to 1913

Answer 4

8% per annum

Question 5

What is an opinion of an economic historian of Witte being Finance Minister

Answer 5

The late 1890s was “the great spurt”

Question 6

What type of industry led the way in the early stages of Russian industrialisation

Answer 6

Lighter industries especially textiles

Question 7

What type of industry did Witte believe were the basis for industrial development?
How did he develop them?

Answer 7

A)heavy industries e.g. staples ( iron coal and steel)
B)developing large factory units of over 1000 or more workers. (Although this was still minority as the majority worked in workshops)

Question 8

How did Witte stage manage industrial growth

Answer 8

One) Brought in investment
Two) managers and skilled workers from abroad e.g. the Hughes family
Tree) in 1888 16 foreign companies were in Russia, in 1900= 269

Question 9

What was different about Witte to other finance ministers

Answer 9

He had a greater energy and produced it on a larger scale

Question 10

List Witte’s conditions for industrial development

Answer 10

1)railways 
  >raw materials
  >stimulated industry
  >government
  >trans-siberian railway
2)foreign loans
3)gold standard
4)raised taxation