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 the reinstated Moscow Patriarchate, Tikhon Belavin, Metroplitan of Moscow, was selected for the position after a drawing of lots as the new Patriarch of Moscow and All Russia. "Собрание определений и Деяния Священного Собора Православной Российской Церкви 1917—1918 гг.". Moscow, 1994—2000 (scanned text: "Священный Соборъ Православной Россійской Церкви. Собраніе опрдѣленій и постановленій". М. 1918. — Изданіе Соборнаго Совѣта) 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.)