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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 |
| Type | Local banknote |
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|---|---|
| Obverse lettering | (round stamp) Ростовская на Дону Контора Государственного Банка (rectangular stamp) Настоящая облигация выпущена Ростовской Конторой Государственного Банка в качестве денежного знака по курсу 85 рублей за 100 номинальных с присоединением %-въ по текущему купону (Translation: (round stamp) Rostov on Don Main Office of the State Bank (rectangular stamp) This bond is issued by the Rostov Office of the State Bank as a banknote at the rate of 85 roubles per 100 nominal with the addition of interest on current coupon.) |
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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.