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| 正面铭文 | ЗАЕМНЫЙ БИЛЕТЪ ОБЩЕСТВА ВЛАДИКАВКАЗСКОЙ ЖЕЛЕЗНОЙ ДОРОГИ ВЫПУЩЕННЫЙ ИЗЪ 5,4% СРОКОМЪ НА ДВА ГОДА ВЪ ТЫСЯЧУ РУБЛЕЙ 1 Сентября 1918 года 1000 |
| 背面描述 | The reverse carries a detailed cartographic vignette of the Caucasus region, tracing the Vladikavkaz Railway's main line from Rostov-on-the-Don through to Petrovsk and Baku. Geographical place names and topographical features are rendered in fine engraved lettering across the map field. Border ornamentation frames the composition on all sides. |
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The Vladikavkaz Railway Company was one of dozens of commercial and industrial enterprises in the former Russian Empire that began issuing their own paper money following the Bolshevik seizure of power and the subsequent collapse of centralized banking. These are not bank notes in any orthodox sense — they are scrip, issued to pay workers and facilitate local transactions when state currency became either unavailable or worthless. The railway itself ran through the North Caucasus, a region that changed hands repeatedly during the Civil War years.
The 1918 dating places this note squarely in the period before the White Army consolidated control in the region. Whether issues like this were honored after the political situation shifted is, in most documented cases, doubtful.