Count Yegor Frantsevich Kankrin (1774-1845)

The sitter was a Russian nobleman of German descent and served as Minister for Finance in Russia for 21 years. In 1827 Kankrin invited the famous Prussian scientist, Alexander von Humbolt (1769-1859), to Russia to identify areas where Russia could develop its economy, in particular mining opportunities. The scientist accurately predicted that diamonds would be found in the Ural Mountains. They also discovered, in the same area, a mineral called cancrinite (named after Kankrin). As a conservative politician, his policies tended towards minimising government expenditure in order to bring about economic stability. He was against the development of the railways and the emancipation of the serfs. He also outlawed private banks, and tried to stop the development of capitalism. He was responsible for the monetary reform of 1839-43 which cleaned up the Russian fiscal system, starting with the issue of a new silver ruble and replacing other coins in circulation with bank notes. These reforms are thought to have brought stability to the financial system. The present portrait miniature derives from a larger portrait by an unknown artist.
We are indebted to Dr Dimitri Gorchkoff for his assistance with this catalogue entry.