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10 000 Roubles 5% FREEDOM LOAN DEBENTURE BONDS
| Issuer | Russian Provisional Government |
|---|---|
| Year | 1917 |
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| Shape | Rectangular |
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| Obverse lettering | ЗАЕМЪ СВОБОДЫ III серія №004869 5% ОБЛИГАЦІЯ ВЪ ДЕСЯТЬ ТЫСЯЧЪ РУБЛЕЙ НАРИЦАТЕЛЬНЫХЪ Министръ-Председатель Петроградъ, 27 марта 1917 года. |
| Reverse description | Printed in black on cream paper, the reverse is dominated by a dense letterpress text block setting out the full terms and conditions of the Freedom Loan, issued under the decree of the Provisional Government dated 27 March 1917. The text enumerates denominations, interest payment schedules, redemption procedures, and exchange conditions. The composition is framed by a fine guilloche border, with the legend «1917 · ЗАЕМЪ СВОБОДЫ · 1917» repeated in the upper and lower margins, and closes with the printed date «Срокъ послѣдняго купона 16 марта 1922 года» above the signatures of the Manager of the State Loan Commissions and the Accountant. |
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| Comments |
The Freedom Loan — Zaём Svobody — was the Provisional Government's attempt to finance continued participation in the First World War after the February Revolution. Launched in April 1917 with considerable fanfare and the backing of socialist ministers, it was a political gamble as much as a fiscal one: the government needed to convince a war-exhausted public to voluntarily fund a war they were increasingly opposed to fighting. The campaign failed badly. Subscription targets were not met, and the Bolshevik seizure of power in October rendered the entire issuance worthless within months.
These bond certificates were printed at the Expedition for the Preparation of State Papers in Petrograd — the same facility that had produced tsarist securities. The 5% interest obligation was never honored.