Reutern reforms 1862-78
- Created by: A_Classics
- Created on: 02-02-22 09:17
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- Reutern Reforms
- Treasury reforms
- new tax collection arrangements
- auditing accounts of govt. depts
- publishing budgets
- Abolishment of tax farming + reform of tax system to include more indirect taxation
- Extended bank + credit facilities
- State bank 1860
- Municipal banks 1862
- Saving banks 1869
- Promotion of trade
- reduction of import duties from 1863
- govt. subsidies offered to private entrepreneurs
- development of railways
- Encouragement of foreign investment in Russia govt.
- guaranteed annual dividend
- Encouragement of ‘safe’ investment
- Legislation regulated joint stocking companies
- effects
- Forced former tax farmers to look elsewhere to invest, opportunities provided by govt. subsides and trade treaties encourage enterprise
- Use of foreign technical expertise an capital supported industrial expansion + railway network saw marked expansion
- Annual average growth rate of 6%
- why?
- boost economy for funds for industrial growth
- Why didn't economy grow despite improvements from Reutern's reforms?
- 1/3 govt. expenditure went to repayment of debts
- Russian Currency subject to wild variations in value
- limitations of Emancipation Edict + taxation system left 66% of govt. revenue coming from indirect taxation
- kept peasantry poor + domestic market small
- tariff reductions menat decline in govt. revenues + decisions taken to raise these in 1878
- Treasury reforms
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