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A must-read financial history for investors navigating today's volatile global markets Following an unprecedented economic boom fed by foreign investment, the Russian Revolution triggered the largest sovereign default in history. In Bankers and Bolsheviks, Hassan Malik tells the story of this boom and bust, chronicling the experiences of leading financiers of the day as they navigated one of the most lucrative yet challenging markets of the first modern age of globalization. He reveals how a complex web of factors—from government interventions to competitive dynamics and cultural influences—drove a large inflow of capital during this tumultuous period. This gripping book demonstrates how the realms of finance and politics—of bankers and Bolsheviks—grew increasingly intertwined, and how investing in Russia became a political act with unforeseen repercussions.
We must seek to build a Russia based on three sound principlesPeaceLandand Bread. NOTHING ELSE!!! William Donaldson, newly promoted Charge dAffaires for the United States Embassy in Petrograd, (formerly Saint Petersburg) Russia, could only cringe at hearing Lenins stirring proclamation announcing the primary goals for the Petrograd Soviet. These ambitious words ran counter to the aims of his employerthe American government. As an American diplomat during the administration of President Woodrow Wilson, William is obligated to support his countrys self-serving objectives. But as the husband to Sonjya Mastrova, a Russian nation, William is torn: must he care out his duty or advocate a cause which he knows in his heart to be morally and ethically right? Since he was a conscripted diplomat, being named embassy charge daffaires should have been the crowning achievement for William Donaldson. However, as Russia spirals ever deeper into chaos and revolution, his posting becomes a curse. Caught up in a web of intrigue woven by Americas inept, luxury-loving ambassadors, William is a witness to the final overthrow of Russias imperial family. His dealings with the weak Russian provisional government will provide William with a textbook example chronicling the pitfalls of democracy. As the faltering democratic provisional government splinters and becomes mired in gridlock, the Russian people become truly desperate. Knowing how desperate people will do desperate things, the situation becomes ripe for Vladimir Lenin and his henchmen to finally implement their own vision for Russias future without any annoying outside interference. When that model is forcibly imposed, William can only lament at what he sees as the consequence for the Russian people of being yoked to the science of communism: Is Russias exploited peasant population any better off than they were before?
How did a regime that promised utopian-style freedom end up delivering terror and tyranny? For some, the Bolsheviks were totalitarian and the descent was inevitable; for others, Stalin was responsible; for others still, this period in Russian history was a microcosm of the Cold War. The Fate of the Bolshevik Revolution reasons that these arguments are too simplistic. Rather, the journey from Bolshevik liberation to totalitarianism was riddled with unsuccessful experiments, compromises, confusion, panic, self-interest and over-optimism. As this book reveals, the emergence (and persistence) of the Bolshevik dictatorship was, in fact, the complicated product of a failed democratic transition. Drawing on long-ignored archival sources and original research, this fascinating volume brings together an international team of leading scholars to reconsider one of the most important and controversial questions of 20th-century history: how to explain the rise of the repressive Stalinist dictatorship.
Access to newly opened archives has allowed Alexander Rabinowitch to substantially rewrite the history of how the Bolsheviks consolidated their power in Russia. Focusing on the first year of Soviet rule in St Petersburg, he shows how state organs evolved in the face of repeated crises.
Why did the 1917 American Red Cross Mission to Russia include more financiers than medical doctors? Rather than caring for the victims of war and revolution, its members seemed more intent on negotiating contracts with the Kerensky government, and subsequently the Bolshevik regime. In a courageous investigation, Antony Sutton establishes tangible historical links between US capitalists and Russian communists. Drawing on State Department files, personal papers of key Wall Street figures, biographies and conventional histories, Sutton reveals: The role of Morgan banking executives in funnelling illegal Bolshevik gold into the US; the co-option of the American Red Cross by powerful Wall Street forces; the intervention by Wall Street sources to free the Marxist revolutionary Leon Trotsky, whose aim was to topple the Russian government; the deals made by major corporations to capture the huge Russian market a decade and a half before the US recognized the Soviet regime; the secret sponsoring of Communism by leading businessmen, who publicly championed free enterprise. Wall Street and the Bolshevik Revolution traces the foundations of Western funding of the Soviet Union. Dispassionately, and with overwhelming documentation, the author details a crucial phase in the establishment of Communist Russia. This classic study - first published in 1974 and part of a key trilogy - is reproduced here in its original form. (The other volumes in the series include Wall Street and the Rise of Hitler and a study of Franklin D. Roosevelt’s 1933 Presidential election in the United States.)
From the accliamed authority on Russia and the Russian Revolution—the final volume in his magisterial history of the Russian Revolution, covering the period from the outbreak of the Civil War in 1918 to Lenin's death in 1924 "Offers a penetrating analysis of the making of the Soviet system.... [It is] a passionate book whose outstanding scholarship is rooted in universal values like truth, honor, responsibility and the sacredness of human life." —Philadelphia Inquirer "Timely.... The work is enriched in intriguing ways by the author's access to the once-secret archives of the Soviet Union." —Los Angeles Times
For generations in the West, Cold War animosity blocked dispassionate accounts of the Russian Revolution. This history authoritatively restores the upheaval's primary social actors-workers, soldiers, and peasants-to their rightful place at the center of the revolutionary process.
This book examines the international impact of Bolshevism in the period between the two World Wars. It explores both the significance of the ‘Bolshevik threat’ in European countries and colonies, as well as its spread through the circulation of ideas and people during this period. Focusing on the interplay between international relations and domestic politics, the volume analyses the rise of Bolshevism on the international stage, incorporating insights from India and China. The chapters show how the interwar international order was challenged by the ideology, which infiltrated a range of political societies. While it was incapable of overthrowing national systems, Bolshevism constituted a credible threat, which favoured the spread of fascist and nationalist trends. Offering the first detailed account of the Bolshevik danger at an international level, the book draws on multi-national and multiarchival research to examine how the peril of Bolshevism paradoxically allowed a stabilization of the post-World War I Versailles system.