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
Causes of the May Revolution of Independence stated that all men are created equal (and thus become equal before the law), and had unalienable rights to life, liberty and the pursuit of happiness. They had also chosen a republican form of government, instead of keeping a monarchic one. Even more, the fact that Spain aided the colonies in their struggle against Britain weakened the argument that ending allegiance to the mother country could be considered a crime. The ideals of the French Revolution of 1789 were spreading as well. During the Revolution, centuries of monarchy were ended with the overthrow and execution of the King