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 Vyborg Side battle losses and famine in the city. Not surprisingly factory workers supported in 1917 the February revolution that overthrew monarchy and the October Revolution that promised to end private ownership of factories and actually of workers' lives. People's militia was formed on the Vyborg Side to counteract any attempts of counter revolution and maintain public order. These detachments were called Red Guards. Vladimir Lenin before the October Revolution returned from hiding in semi-autonomous Finland to a safe house on the Vyborg Side, from whence on the eve of the revolution he was conducted to the revolutionary headquarters in Smolny by