von Reutern's reforms
- Created by: tash.baines
- Created on: 31-05-21 10:06
View mindmap
- the beginnings of state-promoted industrial growth
- von Reutern's reforms
- treasury and taxation reformed
- tax farming was abolished
- state bank was set up in 1860
- tariffs were reduced from 1863 to promote trade
- government subsidies were offered to railway entrepreneurs
- foreign investment was encouraged by state-guaranteed annual dividends
- joint-stock companies were made subject to new regulations to protect investors
- government support was offered for development of the cotton and mining industries
- treasury and taxation reformed
- strengths of von Reutern's reforms
- the reforms encouraged investment and enterprise
- foreign technical expertise and capital supported industrial expansion
- the railway network expanded markedly
- new developments took place
- this was despite the textiles industry still being the dominant industry
- examples
- coal extraction
- oil extraction
- iron mining
- iron working
- annual average growth rate of 6%
- limitations of von Reutern's reforms
- economy still remained weak
- 1/3 of all government expenditure went to debt repayments
- rouble still unstable
- decline in government revenues
- caused by tariff reductions
- raised again from 1878
- peasantry still poor
- domestic market still small
- von Reutern's reforms
Comments
No comments have yet been made