When Vladimir Lenin’s Bolsheviks seized power over Russia in October 1917, they began almost immediately to nationalize the economy. This was part and parcel with their communist philosophy. Marx had laid out his expectations in the Communist Manifesto: “The proletariat will use its political supremacy to wrest, by degree, all capital from the bourgeoisie [and] to centralize all instruments of production in the hands of the State.”
Indeed, beginning in 1917, the Bolsheviks quickly seized banks, syndicates, joint-stock companies, industry, and railways. Individuals with more than 5,000 rubles had to deposit their money in state banks with withdrawal caps. All Church …read more
Source: Victims of Communism
