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6 Cards in this Set
- Front
- Back
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Agree: Currency? |
Rouble was put on the gold standard in 1894, which led to higher foreign investment within Russia. |
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Agree: Industry? |
Coal and oil production expansion in Russia. Coal/Oil 1880: 3.2/0.5 (million tons) Coal/Oil 1913: 35.4/9.1 (million tons) 1900-13, industrial output grew by 63% |
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Agree: Transport? |
Witte expanded the railway system to encourage migration of workers and movement of goods around the country. 1881: 13,270 1913: 43,850 (in miles of track) |
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Agree: Import? |
Limited import of foreign goods and a tax put on imported goods encouraged Russian people to buy Russian made goods, which would in theory improve economy. 1898-1913 Russia's national product production grew by 96.8% |
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Disagree: Distrust? |
Witte was distrusted by the Tsar and his ministers due to him making significant reform within russia. Therefore many of his policies were never followed through with and he was eventually forced to resign in 1906. (After negotiating a substantial loan from france in 1906, the tsar forced him to resign) |
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Disagree: Boom! |
Worldwide during the the period was experiencing a huge industrial boom, so the Russian economy benefitted from this boom. However, after the boom, a huge international trade recession set in and consequences for Russia were devastating since Witte was basically running the country on foreign investment. |
