The Second Wave of Nationalization of the Banking Sector in Irkutsk Province in the Early 1920s

Abstract

The article considers one of the aspects of the economic history of Russia, in particular, the nationalization of the banking sector in the Irkutsk province, which took place in the beginning of 1920 after the final approval of the power of the Soviets in the region. The relevance of the publication is dictated by the growth of scientific interest in the problems that make up the field of economic history research. In the realities of modern political and economic development of the Russian state, the specifics of the development of nationalization processes in certain sectors of the national economy, taking into account the existence of accompanying negative factors and working out ways to overcome them, also have a certain interest. The historical and genetic method, along with the principles of historicism and consistency, allowed us to restore the fabric of historical reality in the framework of the process of nationalization of the banking sector of the Irkutsk province and identify a number of negative phenomena that affected the fate of persons involved in this process. The nationalization processes that began in December 1917 were suspended by the change of the political regime in the province in July 1918. After the restoration of Soviet power, the Bolsheviks re-launched the nationalization of private banks in the region by creating a Liquidation and Technical Board, which in addition to representatives of Soviet authorities included employees of the banking sector in Irkutsk. The article describes the composition of the Board, highlights its activities related to the resolution of issues related to the payment of salaries to its employees, as well as employees of liquidated banking institutions. The issue of employees of evacuated bank branches located in Irkutsk at the time of nationalization is considered separately. The publication highlights the current shortage of money supply in the region, which resulted in delays in the salaries of employees in the banking sector and, as a result, the deterioration of their financial situation in the period under review. Keywords: nationalization, banking sphere of Irkutsk province, Liquidation and Technical Board, evacuation of bank branches, employees of private banks in Irkutsk