... the first economic policy 'intended' to benefit the peasantry. The Emancipation Edict was a mechanism implemented to free all serfs, who made up more than one third of the total population. The Emancipation edict abolished all personal serfdom, and the peasants were to receive land from the landlords and pay them for it. This gave the peasantry the opportunity to achieve limited economic success. However in reality, the peasants were effectively transferred from one owner to another. The state advanced the money to the landlords and recovered it from the peasants in 49 annual sums known as redemption payments. That initial stage dragged on for nearly 20 years in some regions. In many areas the peasants had to pay more than the land was worth. While in other areas they were given small plots, and many chose to accept "beggarly allotments". The peasants' landholdings were controlled by the mir, or ...

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