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Abstract. The author discusses the essence and main directions of the Russian state activity on credit and monetary system development in Russia in the second half of the XVIII^th - the first half of the XIX^th century, determines the key trends in credit and monetary relations development, reveals the state leading role in banking system creation, shows the contradictory nature of the government's financial policy, pays considerable attention to the reasons analysis of the initiation of the state monopoly on banking activity, and state-owned banks inefficiency, and substantiates that the main criterion for the state role estimation are positive changes in credit and monetary relations, the creation of subjective preconditions for banking system commercialization.

Key words and phrases: абсолютное государство, государственная финансовая политика, кредитно-денежная система, денежная реформа, государственный банк, частный банк, коммерческий банк, кризис кредитной системы, мировой финансовый кризис, absolute state, state fiscal policy, credit and monetary system, monetary reform, state bank, private bank, commercial bank, credit system crisis, world financial crisis