Ten Days That Shook the World · Chapter
Revolutionary Financial Measure explained
The Military Revolutionary Committee in Moscow issues a decree regulating bank operations, limiting withdrawals to 150 rubles per depositor for the first week, with exceptions for military needs and worker salaries.
What happens
The Military Revolutionary Committee in Moscow issues a decree regulating bank operations, limiting withdrawals to 150 rubles per depositor for the first week, with exceptions for military needs and worker salaries. Non-compliant employees face revolutionary tribunals.
Themes in this chapter
Workers' Control and Economic Transformation
The decree places banking operations under revolutionary oversight, prioritizing worker salaries and military needs.
Characters to notice
- Yakov Sverdlov
Not directly mentioned but associated with the Military Revolutionary Committee's financial decrees.
Key passages
“All banks with branches, the Central State Savings Bank with branches, and the savings banks at the Post and Telegraph offices are to be opened beginning November 22nd, from 11 a.m. to 1 p.m. until further order.”
All banks and savings institutions must reopen on November 22nd for limited hours.
The decree mandates the reopening of financial institutions under new regulations.
“All employees and managers of credit institutions of all kinds who refuse to comply with this decree shall be responsible as enemies of the Revolution and of the mass of the population, before the Revolutionary Tribunals.”
Bank staff who disobey the order will be tried as enemies of the revolution.
Threat of revolutionary justice to enforce compliance.