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
- Tariff Act 1891
- 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
- First finance minister was Bunge, 1882-1887
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