100 Roubles

Russia's State Treasury notes of this period were stop-gap instruments — issued under wartime fiscal pressure when the gold-backed ruble system was already collapsing. The 1915 Treasury issues circulated alongside Romanov-era State Bank notes but lacked the full institutional backing that the Bank's obligations technically carried. In practice, the public made little distinction.

P#58 is notably square in its proportions, an unusual choice that collectors frequently remark upon. The format was deliberate — the dimensions approximated postage stamps of the era, tying into the same emergency psychology that produced Marki-dengi, the stamp-money notes issued the same year when small coin vanished entirely from circulation.