Analysis of views and ideas of S.Yu. Vitte on providing financial stability of the Russian state

Russia is at the stage of forming new economic relations, strengthening the state vertical of power, creating a powerful economic potential of the country. In the modern rapidly changing conditions of the external and internal environment, achieving and maintaining financial stability of the country as a whole and of individual territories is a priority task of public administration and determines the level of competitiveness of the country and regions, the quality of life of the population. To form a common research platform for theoretical and methodological aspects of financial stability, it seems logical to turn to its genesis, since the evolution of development shows the origins of all modern problems. The article provides an assessment of the economic activity of S.Yu. Witte based on the analysis of the state of public finances of tsarist Russia. It has been substantiated that the balance of the state budget is the basis of its financial stability. It is noted that his judgments on the problems of the theory of taxation and its practical application have not yet lost their sharpness. At the same time, his ideas in the field of tax policy on establishing an optimal balance between direct and indirect taxes, income taxation in terms of choosing systems of progressive or proportional taxation of personal incomes were in the shadow. It was emphasized that the protectionist customs policy pursued by S.Yu. Witte made it possible to resolve the issues of import substitution. This tool is being used by Russia at the present time in the context of restrictive economic measures by the United States and the EU states. It is concluded that the measures to ensure the financial stability of the state, proposed by S.Yu. Witte remain relevant in the modern world.