City Credit Institutions of the Don Army Region in the Post-Reform Period

Failures in the Crimean War, stagnation in the economic system, the technological crisis called into question Russia ability to remain one of the leading powers in Europe. The government of the Russian Empire believed that the development of capitalist relations in the country could help overcome the economic lag from the European powers. Modernization has affected all spheres of society, including banking. In the post-reform Russian Empire, state and non-state banks, mutual credit societies, and small credit institutions carried out their functions. Urban public banks played an important role in lending to the local population. The Rostov-on-Don city public bank was distinguished by the breadth of its activities. The author examines the participation of city banks in commercial and industrial development in the Don Army Region. The purchase and sale of interest-bearing securities by the Don City Bank in the post-reform period are considered separately. The activity of the Rostov-on-Don city public bank in accounting for bills, issuing loans, accepting, and storing deposits, and loans secured by city real estate is analyzed. Loans secured by urban real estate are being considered. The influence of the city public bank on the formation of the city budget in Rostov-on-Don is investigated.