The Rural Reform in Russia (1861): Monetary aspect
Abstract
In the article, it is assumed that there were relationship between the credit institutions reorganization and the rural reform of 1861. Before the rural reform, Russian Government decided to reorganize existed credit institutions. In 1860, the National Bank of Russia has been established in order to cover of the State budget deficit. Later, the National Bank has been authorized to control the redemption procedure. The redemption operation made able to cover outstanding debts of the landed classes to the former credit institutions. Also, the author provides a short review of reforms held in 60-80s of 19th century in Russia, such as tax system reforms, government planning and control reforms.
Keywords:
redemption procedure, rural reform, credit institutions, reforming
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Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.