Sergei Witte- Economic changes and effects

Sergei Witte- Economic changes and effects, both negative and positive 

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  • Economic change 1881-1904
    • Key Dates: 1881 Alexander II tsar, 1885 peasant land banks, 1889 Land captains, 1891-2 Famine, 1894 Alexander dies (Kidney inflammation)
    • Sergei Witte- was totally cummitted to keeping to economic modernisation and thought it was the only way to maintain Russia's great power status
    • Changes
      • A new rouble was bought in (1897) backed my gold this stopped the currency from fluctuating widely in value
      • Expansion of railways 1886-90 914km to 1891- 95 1292km
      • Foreign Investments 1880 -98m roubles to 1900- 911m roubles
      • Heavy industry such as coal increased: 1887 1.3m factory workers to 1908 2.6m
    • Effects of policies
      • Positive: Economic expansion (4th largest Economy),  growth in foreign trade (although mostly in agriculture) and the working class reached 11m
      • Negative: Heavy expenditure on military 50%, Overpopulation in urban areas.
  • Sergei identified three problems:  insufficient capital, lack of technical or managerial expertise and insufficient production per person
    • Economic change 1881-1904
      • Key Dates: 1881 Alexander II tsar, 1885 peasant land banks, 1889 Land captains, 1891-2 Famine, 1894 Alexander dies (Kidney inflammation)
      • Sergei Witte- was totally cummitted to keeping to economic modernisation and thought it was the only way to maintain Russia's great power status
      • Changes
        • A new rouble was bought in (1897) backed my gold this stopped the currency from fluctuating widely in value
        • Expansion of railways 1886-90 914km to 1891- 95 1292km
        • Foreign Investments 1880 -98m roubles to 1900- 911m roubles
        • Heavy industry such as coal increased: 1887 1.3m factory workers to 1908 2.6m
      • Effects of policies
        • Positive: Economic expansion (4th largest Economy),  growth in foreign trade (although mostly in agriculture) and the working class reached 11m
        • Negative: Heavy expenditure on military 50%, Overpopulation in urban areas.

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