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 Revolution Betrayed known by his pseudonym Leon Trotsky, was one of the top leaders of the 1917 October Revolution which brought a faction of the Russian Social Democratic Labour Party (the Bolsheviks) (RSDLP) to power in Russia. Trotsky had long been one of the leading Marxist revolutionaries in Imperial Russia, sentenced in 1900 to exile in a distant part of Siberia for his activities against the regime. After a period of European exile, Trotsky returned to Russia during the abortive 1905 Russian Revolution, where his electric oratory made him a leading figure in the St. Petersburg Soviet until his arrest in December