Question

When we're banks nationalised in Russia (Russian Revolution)​

Answer 1

Answer:

December 27, 1917

Central Executive Committee, Decree on Nationalization of Banks. December 27,

Answer 2

The banks in Russia were nationalised on December 27, 1917.

'' In the interest of the regular organization of the national economy, of the thorough eradication of bank speculation and the complete emancipation of the workmen, peasants, and the whole laboring population from the exploitation of banking capital, and with a view to the establishment of a single national bank of the Russian Republic which shall serve the real interests of the people and the poorer classes.''

The Central Executive Committee resolves:

• The banking business is declared a state monopoly.

• All existing private joint-stock banks and banking offices are merged in the state bank.

• The assets and liabilities of the liquidated establishments are taken over by the state bank.

• The order of the merger of private banks in the state bank is to be determined by a special decree.

• The temporary administration of the affairs of the private banks is entrusted to the board of the state bank.

• The interests of the small depositors will be safeguarded.