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
Monarchy of the North Monarchy of the North The Monarchy of the North (), officially the Kingdom of Portugal (), was a short-lived revolution and monarchist government that occurred in the North of Portugal, in early 1919. The movement, also known as the Kingdom of Traulitânia (), based in Porto, lasted from 19 January to 13 February 1919. The movement was led by Henrique Mitchell de Paiva Couceiro, a prominent member of the Portuguese imperial government, without any sanction from the deposed King of Portugal, Manuel II. Paiva Couceiro, who had led and participated in many previous attempts at restoring the Portuguese monarchy, stated