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
History of the Russian Revolution job security. Famous American journalist John Reed described the Russian Revolution in the following words in his famous Ten Days That Shook the world book:No matter what one thinks of Bolshevism, it is undeniable that the Russian Revolution is one of the great events of human history, and the rise of the Bolsheviki a phenomenon of world-wide importance. Just as historians search the records for the minutest details of the story of the Paris Commune, so they will want to know what happened in Petrograd in November, 1917, the spirit which animated the people, and how the leaders looked, talked