Sergei Witte
Sergei Witte, Minister for Russia’s finance (1893-1903) commenced a series of economic and industrial reforms that were set to help modernise Imperial Russia so it could compete with Western Europe. This period of time, also referred to as ‘the great spurt’, encouraged foreign capital to facilitate the growth of the Empire’s natural resources and development of industry. Witte placed the national currency on the gold standard in 1897, hoping to promote a stable currency and foreign investment. The rapid modernisation resulted in rising prices, taxes and interest rates that became too much for most people to bear, especially in rural areas.
Throughout the late 19th century the harsh agricultural conditions and financial burden of land ownership which followed the emancipation edict of 1861 saw many peasants flock to industrial areas in search for work. The migration to urban sites provided a large industrial labour force thereby facilitating the desired growth of industry. The growth in population in St Petersburg more than doubled from the years 1881 to 1914 (928,000 to 2,217,500); and same for Moscow between the same period (753,500-1,762,700). National production grew by 96.8% between 1898 and 1913. Unplanned and unsupervised growth in the industrial centers led to severe overcrowding. Poor living conditions saw an average of 16 people living in a single apartment and 6 people per room in 1904. Military supressed industrial strikes spiked from 19 in 1893 to 522 in 1902. The following recession began to develop into a revolutionary situation with mass unemployment from industrial workers and the general failure to meet rising expectations which grew to stir social unrest.
LUKE
Throughout the late 19th century the harsh agricultural conditions and financial burden of land ownership which followed the emancipation edict of 1861 saw many peasants flock to industrial areas in search for work. The migration to urban sites provided a large industrial labour force thereby facilitating the desired growth of industry. The growth in population in St Petersburg more than doubled from the years 1881 to 1914 (928,000 to 2,217,500); and same for Moscow between the same period (753,500-1,762,700). National production grew by 96.8% between 1898 and 1913. Unplanned and unsupervised growth in the industrial centers led to severe overcrowding. Poor living conditions saw an average of 16 people living in a single apartment and 6 people per room in 1904. Military supressed industrial strikes spiked from 19 in 1893 to 522 in 1902. The following recession began to develop into a revolutionary situation with mass unemployment from industrial workers and the general failure to meet rising expectations which grew to stir social unrest.
LUKE
Was the minister of finance from 1893-1903. was presented the task of modernising imperial Russia to western European standards. For the tsarist government industrialisation was the key to military success and to fast track the already universally backward nation. Witte believed the only way to encounter this enormous task was to implement a state-run capitalism system in which the government still had complete control and entrepreneurial principles were also maintained. This period known as the “great spurt” did stabilise the Russian economy from 98 million roubles to 911 million from 1880-1990 as well had a major impact in expanding Russia’s railway system, improving exports and trade as well as building the trans-Siberian railway. Russia relied heavily on foreign loans in order to stabilise its economy, and in turn promoting foreign investment. However despite increased industrial production, Wittes industrialisation reforms did have major ramifications for the proletariats. With the rapid modernisation came rapid increase in prices, taxes, and interest rates placing burden on individuals living in rural areas. Many peasants realised they could not face the financial burden of living on the land, resulting in migration to the urban centres. However this resulted in serious overcrowded cities to go with the aready appaling conditions and the peasants hope for a better life had been squashed. His focus on industrialisation was to a detriment if russias agricultural needs as well as heightening social discontent in overcrowded cities. The world-wide recession payed its toll on imperial Russia, this along with the tsarist government failing to meet rising class expectations ultimately led to a revolutionary situation in 1905.
JAYE
JAYE
Sergei Witte was the orchestrator of Russia’s “great spurt” during the late 19th century. Planning the Trans-Siberian Railway which connected the East and West of Russia’s 17.1 million km^2. Then to be appointed as Minister for transport, finance and communication. Allowing him to place the Russian rouble to the gold standard, construct electrical and telephone lines and thus opening foreign economies to the ‘new’ Russia. His encouragement of rural communities to move into the major cities and rapidly increase industrial growth created a whole new social class, the proletariat. Although this brought Russia to be the second largest source of petrol and modernised Russia almost to the levels of their European counterparts, this radical change was executed poorly. Leaving thousands starving and exploited, providing the perfect conditions for a revolutionary movement.
CALLUM
CALLUM