Nikolay Bunge
Encyclopedia
Nikolai Khristianovich Bunge ' onMouseout='HidePop("32209")' href="/topics/Kiev">Kiev
–, Tsarskoye Selo
) was the preeminent architect of Russia
n capitalism
under Alexander III
. He was a distinguished economist, statesman, and academician of the St. Petersburg Academy of Sciences.
Bunge was a professor of the Kiev University
, of which he served as a dean between 1859 and 1880, when he was summoned to St. Petersburg to become a deputy minister and then (since 1881) Minister of Finance. Five years later, he became Chairman of the Cabinet of Ministers, the highest position in the civil administration of the Russian Empire
.
Bunge undertook a number of reforms with the aim of modernizing the Russian economy. He consolidated the banking system of the Empire and founded the Peasants' Land Bank
(1883) which helped peasants to purchase land. He introduced important tax law
changes which seriously reduced the tax burden of the peasantry. The head tax was abolished and the inheritance tax
was introduced.
Bunge's policies towards the Russian industries were extremely protectionist. He promoted the construction of railways and spearheaded the first Russian labour laws, some of them aimed at reducing child labour.
However in 1887 under pressure of conservative deputies, accusing him of incompetence and incapability to overcome the budgeted deficit, N.K. Bunge resigned.
Kiev
Kiev or Kyiv is the capital and the largest city of Ukraine, located in the north central part of the country on the Dnieper River. The population as of the 2001 census was 2,611,300. However, higher numbers have been cited in the press....
–, Tsarskoye Selo
Tsarskoye Selo
Tsarskoye Selo is the town containing a former Russian residence of the imperial family and visiting nobility, located south from the center of St. Petersburg. It is now part of the town of Pushkin and of the World Heritage Site Saint Petersburg and Related Groups of Monuments.-History:In...
) was the preeminent architect of Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
n capitalism
Capitalism
Capitalism is an economic system that became dominant in the Western world following the demise of feudalism. There is no consensus on the precise definition nor on how the term should be used as a historical category...
under Alexander III
Alexander III of Russia
Alexander Alexandrovich Romanov , historically remembered as Alexander III or Alexander the Peacemaker reigned as Emperor of Russia from until his death on .-Disposition:...
. He was a distinguished economist, statesman, and academician of the St. Petersburg Academy of Sciences.
Bunge was a professor of the Kiev University
Kiev University
Taras Shevchenko University or officially the Taras Shevchenko National University of Kyiv , colloquially known in Ukrainian as KNU is located in Kiev, the capital of Ukraine. It is the third oldest university in Ukraine after the University of Lviv and Kharkiv University. Currently, its structure...
, of which he served as a dean between 1859 and 1880, when he was summoned to St. Petersburg to become a deputy minister and then (since 1881) Minister of Finance. Five years later, he became Chairman of the Cabinet of Ministers, the highest position in the civil administration of the Russian Empire
Russian Empire
The Russian Empire was a state that existed from 1721 until the Russian Revolution of 1917. It was the successor to the Tsardom of Russia and the predecessor of the Soviet Union...
.
Bunge undertook a number of reforms with the aim of modernizing the Russian economy. He consolidated the banking system of the Empire and founded the Peasants' Land Bank
Peasant Land Bank
The Peasant Land Bank was a Russian financial institution founded by Czar Alexander III in 1883. It gave cheap loans to the Russian peasantry for the purchase of land and provided funding for the improvement of agricultural methods....
(1883) which helped peasants to purchase land. He introduced important tax law
Tax law
Tax law is the codified system of laws that describes government levies on economic transactions, commonly called taxes.-Major issues:Primary taxation issues facing the governments world over include;* taxes on income and wealth...
changes which seriously reduced the tax burden of the peasantry. The head tax was abolished and the inheritance tax
Inheritance tax
An inheritance tax or estate tax is a levy paid by a person who inherits money or property or a tax on the estate of a person who has died...
was introduced.
Bunge's policies towards the Russian industries were extremely protectionist. He promoted the construction of railways and spearheaded the first Russian labour laws, some of them aimed at reducing child labour.
However in 1887 under pressure of conservative deputies, accusing him of incompetence and incapability to overcome the budgeted deficit, N.K. Bunge resigned.