Stock Exchange and Commercial Banks during the First World War

P. Lizunov
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Abstract

In connection with the recently published monograph on the First World War by the famous historian Irina Potkina “On the eve of the catastrophe. The state and economy of Russia in 1914–1917”, it is appropriate to evaluate a new book and the events that took place a century ago. The First World War is often referred to as “an unknown war” and “unfairly forgotten”, which is hardly true. The publication of scholarly books and articles, documents, memoirs, and fiction about the First World War prove the opposite. Over the past 100 years, the assessments, views and approaches to the study of the First World War have changed, but the interest in it has never faded. It should be acknowledged that there are still many unresearched and poorly studied topics. I. Potkina’s statements about the level of pre-war development and the importance of the Russian stock market and the banking sector cannot be fully accepted. She comes to the conclusion that during the war years, the Russian economy experienced processes similar to those in most European countries. It is hardly indisputable, especially the assertion about the positive results of the regulation of the credit and financial system. The policy of the tsarist government in relation to the exchange and banks contradicts this opinion. It is also difficult to point out the effectiveness of economic policy, especially in 1917. The authorities lost control over the political, economic and social processes in the country. Russia was going through a severe crisis that led to the overthrow of the autocracy.
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第一次世界大战期间的证券交易所和商业银行
关于著名历史学家伊琳娜·波基娜最近出版的关于第一次世界大战的专著《灾难前夕》。《1914-1917年俄罗斯的国家和经济》,评价一本新书和一个世纪前发生的事件是合适的。第一次世界大战经常被称为“一场未知的战争”和“不公平地被遗忘”,这几乎是不正确的。关于第一次世界大战的学术书籍、文章、文件、回忆录和小说的出版证明了相反的情况。在过去的100年里,对第一次世界大战的评估、观点和研究方法发生了变化,但对它的兴趣从未消退。应该承认,仍有许多未研究和研究不足的课题。波基纳关于战前发展水平以及俄罗斯股市和银行业重要性的言论不能完全被接受。她得出的结论是,在战争年代,俄罗斯经济经历了与大多数欧洲国家相似的过程。这几乎是无可争辩的,尤其是关于信贷和金融体系监管的积极结果的断言。沙皇政府对外汇和银行的政策与这种观点相矛盾。也很难指出经济政策的有效性,尤其是在1917年。当局失去了对该国政治、经济和社会进程的控制。当时的俄罗斯正经历一场严重的危机,导致独裁政权被推翻。
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20
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