Alexander III economy

  • Created by: x.rubyhx
  • Created on: 08-05-22 15:09
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  • Alexander III
    • First finance minister was Bunge, 1882-1887
      • Only real achievement was the Peasant Land Banks 1882 to reduce tax burden on peasants
    • Ivan Vyshnegradsky 1887-1892
      • Tariff Act 1891
        • Reduced imports were to protect Russian iron, machinery and raw cotton
        • Increased import tariff
          • By 1891, import duties reached 33%!
      • Increased foreign loans eg. French loan in 1888
    • Failure
      • Peasants suffered heavy taxation, increased prices and grain requisitioning
      • Vyshnegradsky’s grain requisitioning caused the Great Famine, 1891-92 as there was no food and 350,000 died
    • Success
      • The budget was in surplus in 1892 but only at the expense of the peasantry


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