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| 表面の説明 | The face presents a 5% short-term State Treasury obligation dated Petrograd, 1 June 1917, with a central ornamental vignette at left incorporating the Imperial double-headed eagle arms flanked by large letterpress value numerals '10.000'. Multi-line Cyrillic text across the body identifies the obligation as payable on 1 June 1918 at the State Bank and its branches, with manuscript signatures of the Director of the State Treasury Department and the Chief Accountant below. The serial number prefixed by 'No' appears at lower centre, with the full date inscription at lower right. |
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| 表面の銘文 | Руб. 10.000 5% краткосрочное обязательство Государственного Казначейства. Предъявителю сего уплачивается 1 Іюня 1918. года десять тысячъ рублей въ Государственномъ Банкѣ и его Конторахъ и Отдѣленіяхъ. Директоръ Департамента Государственного Казначейства Начальникъ Бухгалтерскаго Отдѣла Бухгалтеръ Петроградъ, 1 Іюня 1917 г. |
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The Russian State Treasury issued this note in 1917 during one of the most chaotic monetary episodes in modern European history. By the time the Provisional Government was printing denominations this large, the rouble had collapsed in real purchasing power — the war with Germany had been running three years, gold convertibility was long gone, and the printing presses at Petrograd were working continuously. This note belongs to that inflationary surge, not to any stable financial architecture.
The "N" suffix in the Pick reference denotes a note issued specifically by the State Treasury rather than the State Bank, a distinction that mattered legally even if the public treated the paper largely the same.