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M. Kh. Reutern — Minister of finance during the period of reforms

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  • Andrey A. Belykh

Abstract

This work analyzes the development of M. Reutern’s economic views in the period before he had become Minister of finance. His role in redemption operation during the Peasants liberation reform is also studied, as well as his economic policy while being Minister of finance. The article describes his main achievements — progressing to budget proficiency, building of railroads, encouragement of private entrepreneurship, creation of commercial banks system. The article also demonstrates that it was not Reutern who initiated the projects which are commonly considered to be his mistakes, such as attempts to restore rouble exchange rate, the sale of Alyaska, privatization of Nikolaevskaya railroad. Reutern’s activity to prevent abuse of power and corruption are considered. The programme of stage-by-stage rouble exchange rate recovery, initiated by Reutern, was worked out by E. Lamanskiy and failed mostly due to political reasons. The article shows incorrectness of some assessments of Reutern’s activity, presented both by Reutern’s contemporaries and by modern scholars.

Suggested Citation

  • Andrey A. Belykh, 2019. "M. Kh. Reutern — Minister of finance during the period of reforms," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 10.
    • Handle: RePEc:nos:voprec:y:2019:id:2451
    DOI: 10.32609/0042-8736-2019-10-115-134
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