This book, originally published in 1926 but updated in 1967 analyses Russia’s economy in the decade preceding the outbreak of the First World War. It covers trade, finance, transport and industry and each chapter is supported by statistics drawn from Russian and international sources. The introduction to the second edition links pre-1917 development with late twentieth century economic change and in so doing serves as a guide to assessing Soviet Russia’s internal economic problems against the country’s historical background.

This book provides an economic historian's perspective on major questions that confront all students of Russian history: how stable were the economic and administrative structures of late-imperial Russia, and how well prepared was Russia for war in 1914? The decade following the Russo-Japanese War witnessed profound changes in the political system and in the industrial economy. The regime faced challenges to its authority from industrialists, caught in the throes of recession, and from parliamentary critics of tsarist administration. Peter Gatrell provides a comprehensive account of the attempts made by government and business to confront these challenges, examining the organisation and performance of a key industry and showing how decisions were reached about the allocation of resources, and the far-reaching consequences these decisions entailed.