Sergei Yulievich Witte is a great reformer in Russian history of the late 19th - early 20th centuries. With his active participation, state and monetary reforms were carried out. He also developed the 1905 Manifesto and contributed to the rapid development of industry and capitalism.
Instruction manual
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In the years 1880-1890, the monetary system in Russia was unstable and weak. In 1895, Witte, then the Minister of Finance, presented a report to Emperor Nicholas II, in which he wrote about the need for a gold appeal. Such a gold standard has been successfully implemented in England. On May 8, 1895, a law was passed permitting transactions in gold. Thanks to the reform, the State Bank by 1897 increased its gold cash from 300 million to 1, 095 million rubles. Foreign companies and citizens could buy and export gold rubles from Russia, which contributed to the influx of foreign capital into the Russian economy. This policy of Witte made the ruble one of the most stable and reliable currencies in the world. The reform strengthened the external and internal exchange rates of the Russian currency.
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Sergey Witte promoted the industrialization of the Russian Empire. His policy was aimed at the accelerated development of railway and industrial construction. About 3, 000 km of tracks were built per year. And by 1900, the country became a world leader in oil production. Witte in 1898 carried out a reform of taxation in the commercial and industrial field.
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Witte considered it mandatory to reform the peasant community. In 1898, he wrote a note to Nicholas II, where he called on the emperor to complete the "liberation" of the peasants. However, the king listened more to aristocrats who were unhappy with Witte's policies. But Sergei Yulievich made sure that he refused to give up mutual responsibility, to facilitate passport control of the peasants, and eliminated corporal punishment for them.
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Witte was the initiator of the construction of the China-East Railway and the Trans-Siberian Railway. To replenish the treasury, the reformer introduced a "wine monopoly" in 1894. The distilleries belonged to private entrepreneurs, but the alcohol they produced was bought by the state, refined, and put up for sale in wine shops owned by the treasury. Proceeds from the "wine monopoly" in 1913 amounted to 26% of the budget revenues of the empire.
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In October 1905, workers' strikes took place in the Russian capital. Nicholas II instructed Witte to develop a manifesto, which was proclaimed on October 17. Witte also, together with the Manifesto, carried out state reforms. These included the creation of the State Duma, the introduction of electoral legislation, and the transformation of the State Council. Sergei Yulievich edited the "Basic State Laws of the Russian Empire", which became the first constitution in the state.
