Charter Bank

Prior to 1887 State Bank of carrying out the elimination of pre-reform bills of credit institutions. Until the end of the XIX century. State Bank of the Russian Empire remained the bank lent mostly large-scale industry and trade. Of particular importance among the active operations of the bank acquired the records of bills and issuance of loans on government securities. Click Charles Schwab for additional related pages. At the same time lending landowners, peasants, artisans, small industry and agencies small loan has not received due development.

Turn in the politics of the State Bank has been associated with the Minister of Finance SY Witte, a supporter of the idea? National credit? broader lending of domestic producers. Almost immediately after his appointment in 1892 as Minister of Finance SY Witte began preparing for the publication of a new Charter Bank. His companion was the pupil of the famous economist and statesman, NH Bunge, AJ Antonovich insisted on the inclusion in the charter of a bank of items on lending for small and medium-sized producers, primarily farmers and artisans. The new Constitution of the State Bank in 1894 cemented his right to grant? Industrial loans?, much of which was a loan of small and medium industry and trade, farmers and artisans. On the other hand, increased lending to individual enterprises, mainly heavy industry. Were expanded as the volume renditions commercial loan, mostly loans on grain.

At the end of XIX? beginning of XX century. loan size industrial enterprise can not exceed 500 thousand rubles. and the small trader? 600 rubles. Successful industrialization in Russia? by Witte? that led industrial growth and inflow of foreign investment, could not in such a short time to change the predominantly agrarian economy.