Nicholas II economy
- Created by: Jake 101
- Created on: 18-02-17 17:02
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- Nicholas II Economy
- Industrial Progress
- Witte, masterminded the economic progress.
- Railway tracks doubled, coal output rocketed and foreign investment soared.
- Witte brought in project managers from overseas, he brought in a new rouble and used capital to fund infrastructure growth.
- By early 1900s state controlled 70% of railways.
- Railways
- 1905 Russia had almost 60,000 Km of railways.
- The impressive growth allowed more exploitation of Russia's raw materials.
- Transport and goods costs fell, the government made money from freight charges.
- Trans-Siberian railway provided huge industrial stimulus.
- Heavy Industry
- Witte encouraged the development of huge factories. Paving the way for the heavy industry.
- The Donbas region supplied 87% of Russia's coal by 1913,
- By 1914 Russia was the 4th largest producer of coal, iron and steel.
- The growth of ports such as Baku allowed Russia to compete globally.
- Agriculture
- Main focus on industry until 1906 when Stolypin became Minister of Internal Affairs.
- Although grain production was poor there were some 'Kulaks' who could farm more efficiently.
- Stolypin introduced huge reforms from 1906. These included: more land available to buy, subsidies to settle in Siberia, collective ownership and redemption payments abolished.
- Stolypin claimed he needed 20 years. But production rose annually and by 1909 Russia was the world's biggest cereal exporter.
- By 1914 only 10% of land had been transferred to private ownership. 1914 90% of land was still in traditional strips. Fewer than 1% of peasants were Kulaks.
- Industrial Progress
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