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
History of the Russian Revolution is divided among three volumes which are: "The Overthrow of Tzarism", "The Attempted Counter-Revolution" and "The Triumph of the Soviets". Their brief description is as below; It is considered an important and unique work as a history of a major event written by someone who took a leading role in it. The basic motivation of Trotsky behind writing this piece was to translate the experience of the revolution into both a teaching tool and a weapon in revolution.Isaac Deutscher, Trotsky's biographer, described The History of the Russian Revolution as Trotsky's,"Crowning work, both in scale and power and as the fullest