the economy of Tsarist russia 1881-1904

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Ivan Vyshnegradsky

. appointed 1886

. he strove to improve Russian finances and build up the country's gold reserves

. He increased taxes and mounted a drive to swell grain exports

. He also reduced imports by increasing tariffs

. He also negotiated some valuable loans to kickstart growth - from the French in 1888

. Between 1881 and 1891 grain exports increased 18% as a % of total Russian exports 

. By 1892 Russian budget was in surplus

. " we ourselves shall not eat but we shall export" - many peasants went hungry as they had little food which wasnt exported

. Dismissed in 1892 as a result of the famine which killed over 350,000 people

Sergei Witte

. appoined 1892

. He identified 3 key problems holding back economic development:

- insufficient capital

- lack of technical and managerial expertise

- insufficient manpower in the right places

. He carried on with the protective tariffs, heavy taxation and forced exports to generate capital. He also raised domestic loans to finance enterprises


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