Eliazar Litman Feigin and the Birth of Jewish Capitalism under Tsar Nicholas I

Abstract:This article surveys the life and business exploits of a little-known Jewish merchant from Chernihiv, Eliazar Litman Feigin. I argue that Feigin became a wealthy, self-made, dynamic entrepreneur who exercised aggressive, high-risk economic tactics in tax farming and military supplies. He attempted to enter the new economic spheres of banking and railroad construction, but he faced the system of the old regime, which was not ready for unrestricted economic activity in the country and feared social change. This juxtaposition of modern capitalist activity alongside the old regime's institutions was unique in Europe. Feigin's business activity was instrumental in promoting Finance Minister Egor Kankrin's economic policies. It was also dependent on the minister's protection and eventually led to a clash with competitors and the highest nobility.