"Golden Minister" or how the Russian currency became one of the most stable in the world.

Sergei Yulievich Witte was an outstanding Russian statesman, serving as the Minister of Railways in 1892, Minister of Finance from 1892 to 1903, and Chairman of the Council of Ministers in 1905-1906. He played a key role in introducing the gold standard in Russia, which attracted significant foreign investments and contributed to the development of railway construction. Thanks to his efforts, industry in the Russian Empire began to develop rapidly, earning Witte the nickname "grandfather of Russian industrialization."

When Witte became Minister of Finance in 1892, he faced a budget deficit of 74.3 million rubles. To address this issue, he proposed attracting foreign loans secured by Russian securities. Financial support from France, England, and Germany helped stabilize the ruble, and in 1897 Russia transitioned to a gold standard. From that moment, Russian paper money could be exchanged for gold in any country in the world.

Among other achievements of Count Witte, one can highlight the establishment of a state monopoly on vodka sales, which significantly replenished the budget. Under his leadership, railway construction sharply increased, doubling the length of tracks to over 54,000 versts, a feat not even achieved during Stalin's five-year plans. Witte also transferred transportation routes to state ownership by purchasing 70% of transportation companies, which had strategic significance for the economy and the country's defense capabilities.