Economic and social change - Witte 2

'Great Spurt' under Witte (1892-1903)

• Witte (Finance Minister) was most associated with the rapid industrialisationof Russia in 1890's
• However, the foundations of growth were laid by the previous finance ministers, Bunge and Vyshnegradsky
• Important development - introduction of high tarrifs to protect Russian economy in 1891
• Witte wanted to make the Russian economy strong enough to maintain Russia's position as a Great Power
• Russia was behind the rapid industrialisation taking place in Britain and Germany
• Russia had very small business class 
• Majority of peasants did not have complete freedom of movement (limited migration of workers to towns and cities so…