Issue 1 (66)

Year 2020 Number 1(66)
Pages 45-53 Type scientific article
UDC 94(470.23-25)“1917/1918” BBK 63(3)611-2
Authors Lizunov Pavel V.
Summary The article is devoted to the nationalization of Petrograd joint-stock commercial banks. A state monopoly on banking established by the Bolsheviks is well known from numerous books, textbooks and memoirs published during the Soviet period. Soviet historiography regarded these events as the most important state action, successfully prepared and victoriously realized under V. I. Lenin’s direct leadership. At the same time, the events were presented not only biased, but also very laconic, and over time various legends grew up around them. The paper examines not only the position of the Bolsheviks who came to power as a result of the October Revolution, but also the opinion of the liberal democratic opposition and bankers who lost their former status in the financial sphere as a result of the policy of the new government. The attitude of Petrograd newspapers of different political directions is also considered. The seizure of the State Bank and private credit institutions was the beginning of the implementation of a general plan for the private property nationalization developed by the Bolsheviks. The establishment of control over the banking system was one of the significant and still undervalued events of the Great Russian Revolution. After private banks, mutual credit societies were also liquidated, mortgage banks and urban credit societies, credit cooperation were destroyed due to the nationalization of all land property. By the end of 1918, the People’s Bank remained the only credit institution throughout the territory of the RSFSR.
Keywords Petrograd, nationalization, joint-stock commercial banks, bankers, Bolsheviks, commissioners, decree

Atlas M. S. Nacionalizaciya bankov v SSSR [Nationalization of banks in the USSR.] Moscow: Gosfinizdat Publ., 1948. (in Russ.).

Bogolepov D. P. [Financial construction in the early years of the October Revolution]. Proletarskaya revolyuciya [Proletarian Revolution], 1925, no. 4 (39), p. 166. (in Russ.).

Epstein E. M. Rossijskie kommercheskie banki: rol’ v ekonomicheskom razvitii Rossii i ih nacionalizaciya [Russian commercial banks: role in the economic development of Russia and their nationalization]. Moscow: ROSSPEN Publ., 2011. (in Russ.).

Gindin A. M. Kak bol’sheviki natsionalizirovali chastnyye banki. (Fakty i dokumenty posleoktyabr’skikh dney v Petrograde) [How the Bolsheviks nationalized private banks. (Facts and documents of the post-October days in Petrograd)]. Moscow: Gosfinizdat Publ., 1962. (in Russ.).

Rivkina B. B. Finansovaya politika v period Velikoj Oktyabr’skoj socialisticheskoj revolyucii [Financial policy during the Great October Socialist Revolution]. Moscow: Gosfinizdat Publ., 1957. (in Russ.).

Russkie banki v 1917 godu: Spravochnye svedeniya o bankah s perechnem kreditnyh uchrezhdenij po gorodam i seleniyam Rossii [Russian banks in 1917: Reference information on banks with a list of credit institutions in Russian cities and villages]. Petrograd: “Svoboda” Publ., 1918. (in Russ.).

Sokolov E. N. Finansovaya politika Sovetskoj vlasti (oktyabr’ 1917 — avgust 1918 gg.) [The financial policy of the Soviet power (October 1917 — August 1918)]. Ryazan’: Ryaz. gos. un-t im. S. A. Esenina Publ., 2008. (in Russ.). 

Download in PDF