In August 1892, Witte was appointed to the post of Minister of Finance, a post which he held for the next eleven years. (Until 1905 matters pertaining to industry and commerce were within the province of the Ministry of Finance.) During his tenure, he greatly accelerated the construction of the Trans-Siberian Railway. He also emphasized creation of an educational system to train personnel for industry, in particular, the establishment of new "commercial" schools. He was known for appointing subordinates by their academic credentials or merit, rather than because of patronage political connections. In 1894, he concluded a 10-year commercial treaty with the German Empire on favorable terms for Russia. When Alexander III died, he told his son on his deathbed to listen well to Witte, his most capable minister.