25 Roubles North Russia - Chaikovskiy Government

The Chaikovskiy Government — formally the Supreme Administration of the Northern Region — was installed in Arkhangelsk in August 1918 following the Allied intervention, with Socialist Revolutionary Nikolai Chaikovskiy as its nominal head. The regime controlled a geographically isolated pocket of territory and depended almost entirely on British logistical and financial support to function. These notes were a direct consequence of that dependency: local monetary supply had collapsed, and the new administration needed circulating currency immediately.

The series was produced under severe constraints and circulated in a region where winter conditions and supply disruptions made even basic commerce difficult. When the Allies withdrew in 1919 and Bolshevik forces moved south, the notes became worthless almost overnight.