Who was Sergei Witte?
Russia’s minister of finance (1892-1903), a nobleman, oversaw impressive changes
What was the key to Russia’s “great power”
Witte’s beliefs
What would developing industry do
produce a way to avoid dependency and create strong modern state in Russia
Four Fold Plan
Witte’s plan to deliver an industrialized Russia to fund the programm of Capitol investment
Four fold plan description
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Success of Witte’s industrialization drive
Foreign investment
Rapid increase from 200M roubles in 1890 to 900M in 1900
Industrial output
Impressive advancements, esp in heavy industry
Trans Siberian Railway
Witte saw this as a way to improve communication and stimulating industrial demands for goods
Failures of Witte’s industrualiazations
Railway coverage
Minimal compared to U.S.
Foreign capitol
Dependency for industrialization means interest payment on the loan had to be regularly 20%
Agriculture problems
Squeezing peasants for grain + taxes resulted in starvation during bad harvest years (1900-02) + peasant uprising
Work
Although a small portion of the population worked industrial jobs (2% in 1900) they still faced low wages, long hours, and poor living conditions
Overall assessments of industrial policies
Industrial + railway developments
Strengthened Russia leading up to ww1, the development of railway and whatnot was b/c huge capitol investment bringing clear economics and military benefits
Matching political reforms
No political reforms to match economic modernization which caused tension that undermined Russia before 1914
Chairman of committees
Hugh Seton Watson Quote
” One of the outstanding statesmen of the 19th century”