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
Proclamation of the abolition of the monarchy Proclamation of the abolition of the monarchy During the French Revolution, the proclamation of the abolition of the monarchy (French: "Proclamation de l'abolition de la royauté") was a proclamation by the National Convention of France announcing that it had abolished the French monarchy on 21 September 1792. The Convention's députés were instructed to put an end to the crisis that had broken out since the prevented flight to Varennes of Louis XVI (June 1791) and the bloody capture of the Tuileries (10 August 1792). Their middle-class origin and their political activity meant that most of them bore no sympathy for