From the history of the bread loan of the year

Annotation

The article is dedicated to the research of the development and realization of an internal loan in Soviet Russia – the Bread loan. Continued economic recessions together with political instability in the country were the purpose for Bolsheviks to use pre-revolutionary experiment of money search for reforms. The purpose of the article is to analyze the financial policy of Bolsheviks during the first years of the Soviet regime, to estimate the role of inner credit system as the source of financing of the budget and to determ the peculiarities of the Bread loan in comparison with other loans of previous period. The author comes to a conclusion that despite the concerns of the necessity of the loan, the People’s Finance Commissar G. Sokolnikov was able to realize it, obtain great results and people’s faith thank to full realization of his obligations.

Keywords

• war communism
• New Economic Policy
• financial policy
• the Bread loan
• inner credit system
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