History of Russia deficit required borrowing, primarily from Amsterdam; five percent of the budget was allocated to debt payments. Paper money was issued to pay for expensive wars, thus causing inflation. For its spending, Russia obtained a large and glorious army, a very large and complex bureaucracy, and a splendid court that rivaled Paris and London. However, the government was living far beyond its means, and 18th-century Russia remained "a poor, backward, overwhelmingly agricultural, and illiterate country." Peter I was succeeded by his second wife, Catherine I (1725–1727), who was merely a figurehead for a powerful group of high officials, then by his
Duke Peter Alexandrovich of Oldenburg Duke Peter Alexandrovich of Oldenburg Peter Alexandrovich of Oldenburg (Duke Peter Friedrich Georg von Oldenburg) (21 November 1868 – 11 March 1924) was the first husband of Grand Duchess Olga Alexandrovna of Russia, the youngest sister of Tsar Nicholas II. He was born in Saint Petersburg, the only child of Duke Alexander Petrovich of Oldenburg (1844–1932) and Eugénie Maximilianovna of Leuchtenberg (1845–1925). His mother was a granddaughter of Tsar Nicholas I of Russia through Nicholas's daughter, Grand Duchess Maria Nikolayevna, and his father was a great-grandson of Tsar Paul I of Russia through his paternal grandmother Grand Duchess Catherine Pavlovna.