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
Russian Army (1917) Russian Army (1917) In 1917, the Russian Army formally ceased to be the Army of the Russian Empire when the power in Russia was transferred to the Russian Provisional Government. After the February Revolution of 1917 the systems of command and of supply of the Army were disrupted. The army became tired of World War I. The revolutionary wave influenced the Army, and it was swept with the processes of democratization and the single line of command was questioned. The Order No. 1 issued by the Petrograd Soviet instructed soldiers and sailors to obey their officers and the Provisional Government