Repudiation of debt at the Russian Revolution II, the last Emperor of Russia, was forced to sign his abdication and the end of the Russian Imperial Government and of the Romanov dynasty. The new government decided to continue the war, which meant more military spending. To increase budget revenues, a state monopoly was introduced on the sales of sugar, tea, matches, tobacco, and other consumer products. Still, the printing press remained the main source of revenues. This was a period of hyperinflation. The Provisional government was overthrown on October 24, 1917, and the Soviet government was created. The amounts of payments in default were enormous. Russian debt
1917–18 Local Council of the Russian Orthodox Church 1917–18 Local Council of the Russian Orthodox Church The 1917–1918 Local Council of the Orthodox Church of Russia () was the first Local Council of the Russian Church since the end of the 17th century. It opened on 15 August 1917 (O.S.) in the Assumption Cathedral of the Moscow Kremlin. Its most important decision was to restore the Patriarchy in the Russian Church, thereby ending a period of c. 300 years when the Russian Church was governed directly by the Emperor through the Most Holy Synod as a result of Peter the Great's ecclesiastical reforms. The Council′s sessions were held