Witte economy

• When was the new currency introduced?

  1897, the rouble
• What was the rouble linked to?

  The gold standard which increased investors confidence
• How many factories did Russia have by 1914?


  25,000
• What percentage of government revenue was funded by foreign investors?

  47%
• What is an example of foreign investing in Russia?

  £80 million loan from France
• What are examples of greater industrial production?

  Coal production in Ukraine and oil in Baku on the Caspian Sea
• What happened to the population of St Petersburg and Moscow?

  Doubled to 2 million since 1861
• How much had Russia's annual industrial output increased by 1914?


  Four times/quadrupled
• How much did industrial production increase between 1905 and 1914?


  100%
• What did agricultural production rise from?

  45.9 million tonnes in 1906 to 61.7 million in 1913
• What is Witte's era nicknamed?

  The 'Great Spurt'
• How much did coal rise to?

  From 3.2 million tonnes per year to 26.8 million tonnes by 1910
• How much did oil production rise to?

  From 0.4 million to 9.7 million by 1910
• What did Witte introduce to encourage home goods?

  High tariffs on imported good
• What percentage of the population worked on the land by 1914?


  80%
• What were the peasantry taxed on?

  Kerosene, salt and vodka which caused deep resentment
• What killed many peasants in the late 1800s?

  The 1891 famine which killed 500,000 peasants
• How much did the national income grow by 1914?


  50%
• How much did Britain and Germany's national income increase by?

  70% for Britain and 58% for Germany by 1914
• When was the Trans-Siberian railway constructed?

  1891 - 1902
• How much railway was there by 1914?

  70,000 kilometres in 1914 compared to 20,000 in 1881
• How much was inflation compared to wages?

  Inflation of 40% compared to wages only increasing 7% between 1908-1914
• How much was Russia's coal production in comparison to Britain?

  Only 10%
• Where was significant investment placed into?

  The mines which produced raw materials and the factories which processed them
• What did Witte put in place to support industrial output?

  A policy of state capitalism to direct funds so change would happen faster
• What did the development of Siberia allow for?

  Grain, meat and butter for domestic and foreign markets
• How did trade grow the Russian economy?

  China supplied tea and the USA supplied raw cotton
• What was Ukraine nicknamed?

  The 'Bread Basket'
• What did foreign companies grow to by 1900?

  From 16 in 1861 to 269 in 1900
• What is an example of a foreign company in Russia?

  The Lena River Mining Company
• What was another railway built by Witte?

  The Chinese Eastern Railway in Manchuria
• When was the CER started?

  1894 - 1904
• How much did iron and steel production increase by?

  7x
• What was Russia the largest supplier of in Europe?

  Gold, grain and oil by 1914
• What did industry earning increase from?


  From 42 million roubles in 1893 to 161 million by 1897
• What was Russia a large producer of?

  4th largest producer of chemicals, industrial/electrical and machine tools
• How much was the average annual increase of industrial output?

  7% between 1909 - 1913