Sergei Witte's reforms

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  • Sergei Witte's reform Minister of Finance (1902-3 & shortly in 1905)
    • Industrial reforms
      • Russia had raw materials but lacked funds so he seeks foreign loans and raised taxes
        • Trans- Siberian railway built and coal industry grew in Ukraine
        • Expended on schools.
      • negative effect
        • Twice as much needed to pay back the loans and this was raised through high taxes that affected the peasants greatly.
          • Half of Peasants in poverty due to emancipation payment, thus taxes will lead to hardly any income to buy necessities, poor living standard and gradually unrest.

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