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The February revolution deposed Tsar Nicholas II and established a republic. A liberal bourgeois provisional government continued the war and promised reforms, the redistribution of the land was the most longed by the millions of Russian peasants.
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After the Great World, most of the mankind hoped that that conflagration would be the war that ended all wars. This hope was thwarted.
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Under his leadership, the USSR or Soviet Union was formed. The former Tsarist Empire was substituted by a federal country made up
by several European and Asian republics. -
On 24 October 1929, the “Black Thursday”, the New York Stock Exchange plummeted as the investors panicked and try to sell their stocks.
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Many banks went bankrupt. They had invested in buying stocks and gave loans to people who bought stocks and could not pay off their credits.
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Banks were forced to offer low interest rates, Subsidies to farmers and industries were given to reduce production and put an
end to overproduction.
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