19 February 1861: Russia emancipates 23 million serfs

On this day in in 1861, Tsar Alexander II issued a declaration emancipating 23 million Russian serfs from their feudal overlords.

From the 12th century onwards, serfdom had been a key feature of Russian life. In contrast to European feudalism, where serfs only tithed a portion of their crops to their masters, they effectively worked full-time for their master.

Initially, serfs had the right to leave their master's property at certain times of the year, but this was stopped in 1597. Further changes in 1649 gave masters almost total control over their serfs, turning them into de facto slaves. They were even bought and sold between landowners.

Because serfs didn't own the land they worked, they had little incentive to improve it. Restrictions on mobility hampered the development of industry. At the same time, serfs, who accounted for a third of the population, grew increasingly angry, with 712 uprisings between 1826 and 1854.

There had been several previous attempts to reform serfdom. A 1797 law limited direct work for a master to three days a week, and an 1801 law banned the sale of individual serfs. However, these laws were generally ignored.

The tipping point finally came when the relatively liberal Alexander II became Tsar. After studying the issue for several years, on this day in 1861 he issued a declaration emancipating 23 million serfs on privately owned estates. Those on state-owned estates were freed in 1866.

While the serfs were now allowed to buy land from their former masters, the state loaned rather than gave them the money,. This left families with huge debts, which were only cancelled in 1907. At the same time, common land was given to the nobility. As a result, the nobility still controlled 50% of all land, while peasants only owned 20%, ensuring that Russia was still an unequal society, and laying the ground for the Russian Revolution.

Recommended

What happened to Credit Suisse?
Economy

What happened to Credit Suisse?

UBS acquired Credit Suisse at £2.65bn on Sunday afternoon – significantly below its closing value on Friday, which was around £7bn. We take a look at …
21 Mar 2023
Will Silicon Valley Bank’s collapse spark a new crisis?
Economy

Will Silicon Valley Bank’s collapse spark a new crisis?

The fall of Silicon Valley Bank and the rescue of Credit Suisse have sent shockwaves through the financial system. However, they’re unlikely to lead t…
17 Mar 2023
Why did SVB collapse and what does it mean for investors?
Economy

Why did SVB collapse and what does it mean for investors?

California-based Silicon Valley Bank collapsed seemingly overnight, casting doubts over the future of thousands of tech and science startups in the US…
13 Mar 2023
UK GDP rebounds in January as services sector recovers
Economy

UK GDP rebounds in January as services sector recovers

The latest figures from the Office for National Statistics showed GDP grew 0.3% in January, but that growth remained flat in the three months to the s…
10 Mar 2023

Most Popular

Rightmove: UK house prices up £3,000 as property market rebounds
House prices

Rightmove: UK house prices up £3,000 as property market rebounds

Rightmove’s latest house price index shows the property market has been resilient despite an economic downturn
20 Mar 2023
Can I avoid IHT by stuffing all my money into a pension?
Personal finance

Can I avoid IHT by stuffing all my money into a pension?

The ditching of the lifetime allowance could enable millions of pension savers to avoid inheritance tax. We explain how.
20 Mar 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Ofgem’s price cap is now predicted to fall below £2,000, based on average typical use, from July, for the first time since 2022. We have all the detai…
21 Mar 2023