Russian Empire
Economy

Before the liberation of the serfs in 1861, Russia's economy mainly depended on agriculture. By the census of 1897, 95 per cent of the Russian population lived in the countryside. Nicholas I attempted to modernise his country, and have it not been so dependant on a single economic sector. During the reign of Alexander III, many reforms occurred. The Peasants' Land Bank was founded in 1883 to provide loans for Russian peasants, both as individuals and in communes. The Nobles' Land Bank, in 1885, made loans at nominal interest rates to the landed nobility. The poll tax was abolished in 1886.

When Ivan Vyshnegradsky was appointed as the new minister of finance in 1886, he increased the pressure on peasants by increasing taxes on land and prescribing how they harvested grain. These policies led to the severe Russian famine of 1891–1892 that lasted from 1891 to 1892, with four hundred thousand perishing from starvation. Vyshnegradsky was succeeded by Count Sergei Witte in 1892. Witte began by raising revenues through a monopoly on alcohol, which brought in 300 million rubles 1894. These reforms returned the peasants to essentially being serfs again. In 1900, a peasant class (also known as kulak) had emerged, representing less than 20 per cent of the population, who were characterised by owning some of their land, machinery, and livestock. An income tax was introduced in 1916.
language:response_language[Spanish]