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
The House of Government The House of Government The House of Government: A Saga of the Russian Revolution is a 2017 study of the history of the Russian Revolution, the formation of the Soviet Union, and its early history from the days of the New Economic Policy into the early days of Stalinist Rule by the Russian-born American historian Yuri Slezkine. The book consists of "three strains": "The first is a family saga involving numerous named and unnamed residents of the House of Government." The second strain is analytical. It looks at the revolution and subsequent Soviet administration through the lens of the millenarian