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425 Roubles 5% Freedom Loan Debenture Bond - Type 1
| Issuer | Rostov-on-Don 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.) |
| Reverse description | Black on rose underprint. The upper portion carries a bold, large-format heading, below which multiple paragraphs of tightly set text fill the central field in a dense typographic layout; signatures appear in the lower portion of the note. |
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| Comments |
The Freedom Loan — Zaём Svobody — was launched by the Provisional Government in April 1917 as a desperate attempt to keep Russia solvent and in the war. Bonds were sold to the public with patriotic fanfare; when the Bolsheviks seized power in October, the entire loan became politically radioactive. In the Don region, where White forces under the Don Cossack command maintained a precarious foothold against Bolshevik advances, the Rostov office of the State Bank began cutting individual debenture bonds from the original loan sheets and reissuing them as emergency circulating currency — a makeshift solution born of a collapsing banking system and acute coin shortage.
The "Type 1" designation distinguishes this from later overprinted variants. The 5% interest obligation printed on the bond was, by the time most of these circulated, entirely theoretical.