17.1.2

Sergei Witte's Reforms

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Sergei Witte's Reforms

Sergei Witte introduced a series of reforms in the 1890s which helped bring Russia into the industrial age.

Witte's currency reforms

Witte's currency reforms

  • In 1896, Witte moved the Russian economy from the Russian rouble to the gold standard.
  • This reform encouraged foreign investment in Russia.
Witte's reforms - transport

Witte's reforms - transport

  • Witte became Prime Minister in 1905.
  • Witte was the Finance Minister between 1892 and 1903.
  • Witte attracted foreign investors to Russia.
  • Witte was also in charge of transport reforms.
    • Between 1893 and 1902, Witte constructed 27,000km of railway lines (doubling Russia's railway capacity).
  • Telegraph lines were built running along the railway lines.
Witte's reforms - urbanisation and industrialisation

Witte's reforms - urbanisation and industrialisation

  • Investors in Britain and France began to invest in Russian industry and Russian companies.
  • More Russians moved to the cities, especially manufacturing cities like Moscow, Donbas, and St Petersburg.
  • Russia became very strong in metallurgy, where 77.5% of all industrial workers worked.
  • Between 1885 and 1913, the Russian economy grew at 3.25% per year.
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