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17 Roubles 5% Freedom Loan Debenture Bond - Type 1

Issuer Rostov Office of the State Bank (Russia - Civil war issues)
Year 1917-1918
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Currency Rouble (1917-1924)
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Obverse description Black letterpress on yellow guilloche underprint. A central oval vignette at the top displays the Tauride Palace, flanked by laurel branches, beneath which bold title text appears above several paragraphs of smaller body text concluding with a cluster of signatures. The serial number is printed twice, at upper left and upper right, and the entire face is enclosed within an intricate guilloche frame with square corner ornaments; at least two official stamps are applied — a circular ОГБ stamp and a rectangular authorization stamp, occasionally reinforced with netting.
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Protection description Fat Stars watermark pattern
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Comments

The Freedom Loan — Zaём Svobody — was launched by the Provisional Government in April 1917 as a desperate measure to fund continued participation in the First World War. The 5% debenture bonds were issued in a wide range of denominations, but the 17-rouble denomination is among the more peculiar, reflecting fractional breakdowns from larger bond certificates being subdivided for local circulation rather than any conventional monetary logic.

The Rostov office of the State Bank began issuing these as surrogate currency during the Civil War period, when Rostov-on-Don changed hands repeatedly between Bolshevik and White forces. That instability compressed the effective circulation window considerably.

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