The overthrow of the Russian Empire in 1917 brought with it years of chaos. Independent nation states sprung up along the fringes of the old empire, while the newly created socialist republics of Belarus, Ukraine and the Transcaucasus clung on to their ties with Moscow.
No sooner had the Tsar been deposed than a bloody civil war broke out. Foreign armies camped on Russian soil, and to add to the country's misery, the fledgling government in Moscow was at war with Poland from 1919.
War communism' an unpopular economic policy designed to keep the army and factory workers fed was enacted. This required farmers to surrender any crop surpluses to the state. But with peace came the New Economic Policy', and a limited return to capitalism.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
A period of relative prosperity and stability followed. The "commissar for nationality affairs", one Joseph Stalin, turned his thoughts to unifying the republics.
In late 1922, Stalin convened a joint session of the Congress of the Soviets in Moscow. Representatives from Ukraine, Belarus and the Transcaucasus agreed to harmonise the judiciary, state funding and most importantly, establish a common Soviet citizenship.
By the end of December, the Treaty on the Creation of the USSR and the Declaration of the Creation of the USSR had been approved by the delegates of all four republics. The Soviet Union was born. Provision was made for other republics to join later, which they did, and the treaty remained in force right up until the break-up of the Soviet Union in 1991.
-
Private school fees soar and VAT threat looms – what does it mean for you?Rising private school fees could see more than one in five parents pull their children out of their current school. Before you remortgage, move house or look to grandparents for help, here’s what you need to know.
-
Best and worst UK banks for online banking revealedWhen it comes to keeping your money safe, not all banks are equal. We reveal the best and worst banks for online banking when it comes to protecting your money from scams
-
31 August 1957: the Federation of Malaya declares independence from the UKFeatures On this day in 1957, after ten years of preparation, the Federation of Malaya became an independent nation.
-
13 April 1960: the first satellite navigation system is launchedFeatures On this day in 1960, Nasa sent the Transit 1B satellite into orbit to provide positioning for the US Navy’s fleet of Polaris ballistic missile submarines.
-
9 April 1838: National Gallery opens in Trafalgar Square
Features On this day in 1838, William Wilkins’ new National Gallery building in Trafalgar Square opened to the public.
-
3 March 1962: British Antarctic Territory is created
Features On this day in 1962, Britain formed the British Antarctic Territory administered from the Falkland Islands.
-
10 March 2000: the dotcom bubble peaks
Features Tech mania fanned by the dawning of the internet age inflated the dotcom bubble to maximum extent, on this day in 2000.
-
9 March 1776: Adam Smith publishes 'The Wealth of Nations'
Features On this day in 1776, Adam Smith, the “father of modern economics”, published his hugely influential book The Wealth of Nations.
-
8 March 1817: the New York Stock Exchange is formed
Features On this day in 1817, a group of brokers moved out of a New York coffee house to form what would become the biggest stock exchange in the world.
-
7 March 1969: Queen Elizabeth II officially opens the Victoria Line
Features On this day in 1969, Queen Elizabeth II took only her second trip on the tube to officially open the underground’s newest line – the Victoria Line.
