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10 000 Roubles STATE TREASURY 5% SHORT TERM OBLIGATIONS

Issuer State Treasury of the Russian Empire
Year 1915
Type Non-circulating banknote
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Reverse description The reverse is printed entirely in red on a pale pink ground, the design consisting solely of an elaborate oval guilloche medallion at centre bearing the denomination numerals and the word «рублей» in Cyrillic below, surrounded by concentric layers of fine engine-turned lathe work. A diamond-pattern guilloche underprint covers the entire field.
Reverse lettering 10.000
рублей
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Comments

These 5% short-term obligations were issued by the Imperial Treasury as a wartime fiscal instrument — not conventional currency in the modern sense, but bearer bonds designed to circulate as money while simultaneously servicing Russia's catastrophic First World War financing needs. The dual function was deliberate: by paying 5% interest, the Treasury hoped to discourage hoarding and encourage voluntary acceptance alongside coin, which was disappearing from circulation at speed by 1915.

Pick catalogues two varieties for this emission; the B suffix distinguishes a specific serial or signature configuration. Forgeries of the series are documented.

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