Discussions A-Z Advanced: A Resource Book of Speaking Activities (+ Audio CD)

In 1888, he was appointed director of the Railroad Affairs Department under the Ministry of Finance. Witte was appointed minister of railroads in February 1892, and became minister of finance six months later. With the goals of making Russia an advanced industrial nation, catching up with developed European nations, and gaining a foothold in Eastern markets, he developed conceptual and tactical approaches to the problem of establishing market relations and creating an independent national economy. In an effort to accelerate the countryБЂ™s industrialization and accumulate domestic resources, he proposed actively attracting foreign capital and rationalized that industry needed customs protection from competitors and exports needed encouragement. During his time as minister of finance, Russia attracted more than 3 billion rubles in foreign capital. He linked the modernization of the countryБЂ™s economy to the rapid development of transportation infrastructure. The Trans-Siberian Railway was built at his initiative (1891БЂ“1901), and passengers could see the inscription БЂњForward to the Pacific OceanБЂ«on the rocks that had been cut for the railroad ...»