It was not only the Austrian Government that enjoyed the windfall; governments across Europe made a fortune from this "anti-Jewish campaign."
Even the Russians, whose gains were relatively modest, managed to turn losses into profits through this campaign. This was the Tsarist Government's second budget surplus in nearly forty years.
It was worth noting that the Tsarist Government's previous budget surplus had likewise come from anti-Jewish measures. Facts had once again proven that opposing the Jews was the royal road to getting rich.
Watching the assets in the treasury grow by the day, Alexander III felt refreshed and invigorated.
With the Tsar in high spirits, Gatchina Palace was filled with joy.
Once his excitement faded, Alexander III began to worry again. This was the first time since ascending the throne that he had had so much money on hand. He had absolutely no experience with how to spend it.
It was not that there were too few places to spend money; quite the opposite, the Russian Empire had far too many places that needed it.
Whether reducing government debt, investing in domestic infrastructure, or modernizing military equipment, all of it required money.
Since the previous anti-Jewish campaign had not been long ago, the leeks had not grown very well. The Tsarist Government's gains were therefore limited, and it lacked the means to support several projects at once.
Minister of Finance Alisher Gulov said, "Your Majesty, although the cash among the confiscated assets amounts to several billion Rubles, most of it belongs to depositors. Only a small portion truly belongs to Jewish capitalists.
"Foreign currency and gold make up an even smaller share, with a total value of roughly one hundred million Rubles.
"Considering that nearly forty-three million Rubles in international debt will mature this year and must be repaid, while