Industrial + Agricultural Growth

• Witte believed that industrialisation was essential for a revolution and the drive for growth continued between 1892 and 1914.
• The Russian economy grew at a rate of 8% per annum between 1892 and 1914.
• Interest rates were raised to encourage foreign loans.
• The new rouble was introduced in 1897 to increase business confidence which was backed by gold.
• Industrial development was funded through foreign capital and heavy industry was prioritised.
• Russia had 62,000km of railway track by 1914.
• The purpose of the Trans-Siberian railway was to link Russia with the Far East.
• Railway development stimulated heavy industries and manufacturers were given reduced transport costs and government revenue.
• Russia became dependent on foreign investment due to the cost of railways.
• Russia was the 5th largest industrial power in the world.
• Coal production increased from 3.2 to 25.4 million metric tons between 1880 and 1910.
• Pig iron production increased from 0.42 to 3 million metric tons between 1880 and 1910.
• Crude oil production increased from 0.5 to 12.1 million tons between 1880 and 1910.
• Agriculture remained small-scale in the 1890s.
• Stolypin was Minister of the Interior in 1906 and he believed in agricultural reform to prevent peasant unrest.
• Stolypin wanted to increase individual peasant ownership to create farmer profit.
• Stolypin wanted kulaks and profit-orientated farmers to help support the regime of agriculture.
• The Mir and collective ownership was abolished in November 1906.
• Redemption payments were abolished in January 1907 and peasants could leave villages.
• Peasants could apply for consolidation for single farms with permission and scattered strips of farm would be consolidated.
• The Peasant Land Bank was newly reformed to fund purchases.
• Government subsidies were increased to encouraged settlements in Siberia.
• Peasant ownership of land increased from 20% to 50% between 1905 and 1915.
• Grain production rose annually and Russia was the biggest exporter of cereal in 1909.
• Kulaks often bought out poorer peasants to increase the efficiency in farms.
• 3,500,000 peasants moved to an underpopulated Siberia with dairy and cereal prominently being made in the region.
• Some peasants sold up to move to towns which boosted the supply of industrial labour.
• 10% of land had successfully been transferred from communal to private ownership by 1914.
• 90% of peasant holdings were based on scattered strips in 1914 because peasants were reluctant to try new farming methods.
• Poorer peasants lost their land and many went to work in factories afterwards.
• Siberia had a difficult terrain in terms of climate.