The article examines the concept of enlightened absolutism by the example of the financial policy of Emperor Nicholas I. The author concludes that the emperor‘s personal participation in the preparation and implementation of the monetary reform of 1839–1843 was decisive. At the first stage of the reform Nikolai Pavlovich and by his associates performed the arbitrary functions. The next transformation stages of the early 40’s of the 19th century were spent in examining the emperor’s personal projects. During the preparation and implementation of the monetary reform Emperor Nicholas I proved himself as true enlightened autocrat: his personal initiatives were combined in his activities with the advice of the competent associates, while the emperor himself remained at the helm. The monetary reform had its flaws, but it put the financial system of the Russian Empire in order for the first time since the second half of the 18th century
P. K. Romanov (Mon,) studied this question.