ABSTRACT
The Budget reforms of 1862 were part of the general reform movement following upon the liberation of the serfs, and mark the beginning of the modern era in Russia’s financial system. The Budget of 1863 was the first to be introduced on the new basis. Since that date, the general development of the country along economic, political, and cultural lines, caused a constant increase to take place in the Budget totals, on the side of both revenue and expenditure.
