The first bond-secured loan of Simbirsk as an example of a sustainable economic policy of a municipal government in czarist Russia

Introduction. Nowadays the issue of implementation of city projects in terms of providing public amenities and changing their infrastructure under the conditions of existing insufficient public funds for these purposes is of present relevance for cities of Russia. One of the key ways of resolving this situation is borrowing monetary funds. However, in the history of Russian cities such kind of experience already exists. The submitted material reveals the experience of Simbirsk municipal government concerning the issue of the first bond-secured loan of the city of Simbirsk (the year of 1906). The purpose of this loan was obtaining necessary funds for the city intended for enlarging and improving public water supply system, building slaughter-houses within the scope of jurisdiction of the municipal public administration. The objectives of the undertaken study and subsequent analysis involved identifying the reasons, which caused Simbirsk Municipal Public Administration, lacking any experience, to take on a project implementation of issuing the bond-secured loan, assessing the municipal government actions on preparing and issuing the loan mentioned above, as well as the result of the loan implementation. Materials and Methods. The study is based on the archival records, which contain information on the bond-secured loan in Simbirsk of 1906. Under study of these records, the information archival in them was systematized and analyzed. Such approaches as a systematic approach, a comparative analysis and a logical generalization of the obtained results were used. Study results. The undertaken study specified the reasons for issuing the bond-secured loan by Simbirsk, the stages of the implementation of this project, analyzed and evaluated the commitment of the municipal public administration during each of these stages, as well as rationality of their actions and the result of the bond-secured loan issue, which was successful. Apart from this, new historical facts related to the history of the Simbirsk governorate along with the full and complete information concerning the issue of the indicated bond-secured loan were determined. Discussion and Conclusion. The obtained results of the study indicate that the experience of borrowing monetary funds performed by the cities of Czarist Russia can be in demand with a positive outcome by the cities of modern Russia. The implementation of such borrowings of monetary funds by a city (municipal) government will benefit in resolving many city problems, undertaking social projects, which require considerable financial resources, and in the final analysis in improving the quality of life in cities.