8. Economic developments from 1855-1894
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41 Terms
What was the spark for economic change?
Emancipation
Why was emancipation the spark for economic change? 3
Gave peasants ability to leave village and work
Stimulated domestic market
Allowed serfs to buy and sell crops
Which 4 factors made it harder for serfs to improve economically?
Redemption payments
Grain requisitioning
High taxes
Mir restricting movement
Average land holding of peasants statistic
4 hectors
Was 4 hectors of land enough
barely enough to subsist
Why was agriculture and land quality limited? 3
Peasants had poor land quality
Peasants had little land
Used shit farming methods
Why did peasants have poor land quality?
The nobles got the best pick
Why did the peasants not produce lots? 3
They used backward methods
Mir elders resisted change
Lacked money to invest
Peasants production statistic
In 1878 only 50% of peasants could produce a surplus
What helped peasants to improve their farming situation?
The land bank
How did the land bank help?
Allowed peasants to buy surplus land from nobles with low interest rates
Land bank statistic
26 million hectors of land were bought by peasants from 1877 to 1905
Yield statistic
yields remained 3 times lower than those of the UK and germany
Which event caused shit economy?
Great famine of 1891-2
Why was the great famine of 1891-2 worsened?
Grain was forced to be sold, instead of given to people
How many people died in the great famine?
350k peoples
What did Russia lack to drive industrialisation?
A middle class
Who was the key minister of finance
Reutern
When was Reutern minister of finance?
1862-78
What did Reutern believe?
State should control economic growth
What did reutern do to improve economy? 5
Reformed the treasury, making it more efficient
Selling the right to collect taxes was abolished
Tariffs reduced to encourage foreign trade
Subsidised development of railways
Improved credit availability
Von Reutern’s successes? 3
6% annual growth rate
Railways and industry expanded
New industries emerged (oil in baku, iron in donetsk)
Why might one argue that the economic changes were not entirely successful? (Gov wise) for von retuern 2
Government was still spending third of its income paying off debt
Rouble varied enormously creating instability
Who came after Reutern?
Vyshnegradsky
When was Vyshnegradsky minister of finance?
1887-1892
What was Vyshnegradsky‘s key aim?
To balance the budget
Was Vyshnegradsky good?
methods effective, but had terrible price
What did Vyshnegradsky do?
Introduced 30% tariff on imported raw materials aiming to boost russian industry
Grain increase under Vyshnegradsky Statistic?
18% increase from 1881 to 1891
Vyshnegradsky Successes? 3
Grain exports increased 18%
Balance the budget
Had economic growth
Who was Witte?
Minister of finance
Order of finance ministers
Von reutern
Vyshnegradsky
Witte
When was Witte minister of finance?
1892-1903
What did witte see as essential?
Economic modernisation
How did witte go about achieving his goal? 2
Encouraged massive foreign investment
Brought in managers and engineers from europe
Which 5 statistics can we have for witte?
factory workers
Coal production
Oil production
Economy growth
Economic comparison
Factory worker statistic
Number of factory workers doubled 1887-1908
Coal statistic
Production 5 times higher in 1900 than in 1880
Oil statistic
Oil production 2.5 times higher in 1900 than in 1890
Growth rate statistic
8% annual growth rate
economy size comparison statistic
4th biggest industrial economy by 1904