At the time he was at the Law Faculty of the University of Novorossiysk, a particularly strong influence on him had the works of Rodbertus, the ideas which he often returned later in his scientific work. After passing the Master`s exam, Gertsenshtein expected to do the teaching in higher education. To this period belong his first scientific work that appeared in the press: article on Rodbertus in "Legal Bulletin" and "Russian Thought" and Henry George in "Russian Thought" (1885). In 1884 he began to work in the "Russian Gazette". By teaching it by the Ministry of Education we were not admitted because of his Jewish origin. With the assistance of Professor AI Chuprov Gertsenshtein entered the Moscow land bank and possessing special knowledge on land-credit theory, rapidly reached a prominent position. Fifteen-year service in the bank created Gertsenshtein independent financial status, has enriched its large stock of practical information in the field of financial, credit and agrarian relations. Gertsenshtein also continued his journalistic and scientific works. The "Legal Bulletin", "Russian Thought" and "Russian Gazette", he continued to write, mainly on finance, credit, and in recent years, and on the agrarian question. In 1892 he published his book "Credit for the Zemstvos and cities," in 1900 - "mortgage reform in Germany", in 1902 - "Mortgage banks and the growth of large cities in Germany." In 1903, he responds to the abuse of the Kharkov land and commercial banks brochure "Kharkov collapse." In 1904, out two of his works: "Small credit committees in the writings of the needs of the agricultural industry and the savings banks", "Recent trends in the teaching of the loan on the land in Germany." The last of them (master`s thesis) - the main theoretical work Herzenstein, carefully thought out and very clearly written. Gertsenshtein analyzes Rodbertus teaching, and Lorenz Stein Schaffle; stops at the Prussian attempt to impose legislation in the eastern provinces of the kingdom peasant landownership is not on private property basis, but on other grounds, legally closer to the medieval shape of the earth levladeniya; explores the various projects of the land debt reduction. In 1903 Gertsenshtein was finally approved by the assistant professor at Moscow University; in 1904 he was elected an associate professor of the Moscow Agricultural Institute. In 1905 he was elected to the vowels of the Moscow provincial zemstvo assembly. The City Council, in spite of a short stay in it, Gertsenshtein managed to occupy a very prominent position; he was entrusted with the chairmanship in the financial and housing committees. Gertsenshtein entered as part of a special "executive committee" formed by the City Council and as a member it took part in the negotiations with the workers during their conflict with the city government. In the election of the mayor in the end of 1905 and was scheduled Herzenstein candidacy, but he resolutely declined from it. Gertsenshtein participated in the congresses of the city and county leaders since their occurrence. He has also performed in private collections, arranged in 1905 in Moscow, reports on the agrarian question, brilliantly defending objections from right and left of those principles, which subsequently formed the basis of the program of the Constitutional Democratic Party. He was a participant in meetings of the Constitutional-Democrats on the agrarian question, and the chairman of the Agrarian Committee of the party; in his party, he was a representative of the moderate currents. By this time the article Herzenstein "nationalization of the land", "Farmers Bank" and "Redemption operation", included in the collection "The Agrarian Question" (edition Dolgorukova and Petrunkevich, M., 1905). During the elections in the first State Duma Constitutional Democratic Party nominee Herzenstein was nominated, and he was elected to the city of Moscow, with Muromtsev, Kokoshkin and Saveliev. The State Duma Gertsenshtein not often performed, but almost all of his performances have been significant developments. On the agrarian question, is the main subject of his studies in the course of his parliamentary activities (Gertsenshtein was chairman of the first, the main agricultural sub-committee of the State Duma committee), he acted in the general meeting of the Duma three times. His first speech he delivered May 18, 1906, objecting to the declaration of the Government, announced the initiation of expropriation unacceptable and responding at the same time we are his fellow party members, Professor LA Petrazhitsky, expressed fears for the future of our culture in the case of turning Russia into a country solely of peasant farming. His second agrarian question Gertsenshtein said May 19 in response to Chief Governor land management and agriculture, AS Stishinskomu, and Deputy Minister of Internal Affairs, VI Gurko. Gertsenshtein made this time not so much on its own initiative, as in the unanimous request of his supporters in the Duma, including many farmers. The second question is more vivid polemic character than the first. His third agrarian question Gertsenshtein 23 May and said it again argues with VI Gurko and AS Stishinskim. Gertsenshtein was also a member of the Commission for financial, budgetary and Commission on allocation of funds for food aid to the population. After the dissolution of the Duma Gertsenshtein together with his political friends he signed the so-called "Vyborg Manifesto". He then moved with his family to Terioki on the Baltic coast, and here July 14, 1906 while walking was killed. One of the participants in the murder of Alexander Polovnev, was condemned by the Finnish court, but later pardoned. L. Jurowski.