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
Ranks and insignia of the Russian armed forces until 1917 Servicefrom 1912 to 1917. The following shoulder board insignias of the Imperial Army used by specific units and cadet corps are illustrated below: The Imperial Russian Navy () of the Russian Empire, had been established at the end of the 17th century under the regency of Peter the Great and by the personal leadership of Franz Lefort. It existed until the October Revolution of 1917. Ranks similar to those of the Imperial Army were, beginning in the late 18th century, used by the coastal services of the Imperial Russian Navy. By order № 125 of the Navy Ministry of the