Soviet repudiation of Imperial Russian foreign debt.

Mar 2017
25
Poland
I 'm looking for all reasons. Here are some of them.

1. A sovereign state is allowed to repudiate.
2. A revolution can cancel debts. (France - holding the majority of Russian debt - has done it).
3. Debts of a tyrant are illegitimate. (A French rule again).
4. Most of those debts financed the First World War what helped the West.
5. The Allied intervention in the Russian Civil War caused significant damage.
6. After the war Russia lost 26% of it's population. Part of it was only regained 20 years later.

I have also read that the Treaty of Brest-Litovsk (Ukraine–Central Powers) of 9.02.1918 was the direct reason for the repudiation(10.02.1918) but I don't remember the reasoning and the source.



Top
 
Sep 2014
1,216
Queens, NYC
1 is not a reason, it removes an objection.
2 represents a standard practice-a government taking control by war does not consider it is bound by the acts of the government it replaces.
3 is the standard also; governments not representing the people can not bind the people.
4 was, I think, never really a factor in the Soviet's thinking.
5 may have been a factor, Russia's ability to pay was certainly damaged. I don't recall the date of the repudiation.
6 also may have been a factor, Russia would certainly have had a harder time getting the money to pay the debt.
 
Sep 2016
1,321
Georgia
Soviet Government did this, because they considered all of that to be actions of terrible Bourgeoisie.

Bolsheviks nationalized essentially all aspects of the country. They nationalized all the Banks, all the Trade, all the enterprises and facilities, all buildings in the cities, all the land and etc. The land became a property of the State and belonged to Kolkhoz ( collective farming ). People also couldn't have their own property in the city. All the international trade now became the prerogative of only Soviet government.

Even paying for a rent was abolished and if you still continued paying to a former owner, you would face prosecution. It was worse for ex-owner of that property, because you would be imprisoned for 1 year if you continued to take the money.

They carried out Dekulakization, because they believed that Kulaks were Bourgeois element. They confiscated their property, deported many of them and their families. Some Kulaks were killed.

Soviets also tried to make Army and it's structure democratic. They abolished all the ranks in the army and allowed soldiers to choose their commanders. Obviously, this idea wouldn't last long.

During the period of War Communism ( 1918 - 1921 ) they implemented Prodrazvyorstka to support Red Army, which was the policy of confiscating of grain and other agricultural products from peasants. Authorities also had prohibited selling of grain and bread.
 
Last edited: