THE HISTORY OF THE FINANCIAL AND MONETARY SYSTEM IN THE KHOREZM PEOPLE'S SOVIET REPUBLIC (1917–1924)
Keywords:
Khorezm People's Soviet Republic, financial system, monetary circulation, taxation system, Economic Council, Soviet currency, budget policy, monetary reform, Central Asia, economic history.Abstract
This article analyzes the formation and development of the financial and monetary system of the Khorezm People's Soviet Republic during 1917–1924. The study examines the activities of the Khorezm Economic Council, the establishment of Soviet financial management principles, the introduction of new taxation mechanisms, the formation of the state budget, and the circulation of various monetary units. Particular attention is paid to the impact of Soviet economic policies on local financial institutions, taxation practices, monetary circulation, and the economic situation of the population. The article highlights the challenges faced by the republic during the transition period, including currency depreciation, financial instability, the lack of an effective credit system, and the dependence of local economic policies on central Soviet authorities.
