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
Cinema of the Russian Empire the usual retinue of detective films and melodramas, filled theaters when the streets were not filled with revolutionaries. However, the destruction of the infrastructure in the major cities, the failing war-drained economy, the takeover of rural cinemas by local Soviets, and the aversion of some in the film industry to communism, caused the Russian film industry per se to effectively die out by the time Lenin on November 8, 1917 proclaimed a new country, the Russian Soviet Federative Socialist Republic. Ironically, the last significant Russian film completed, in 1917, "Father Sergius" would become the first new film release a year