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5 Gold Roubles Transport Certificate

Emisor Народный Комиссариат Финансов (People's Commissariat of Finance)
Año 1923
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En circulación hasta 1 May 1924
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Descripción del anverso Central vignette bears the large Cyrillic numeral «5» within an oval guilloche frame, below which the denomination РУБЛЕЙ ЗОЛОТОМ (Roubles in Gold) is printed in bold letterpress. The Soviet state emblem appears at upper centre, flanked by a crossed axe and anchor device at upper right and the series and serial number at upper left and right. A detailed intaglio vignette of a steam locomotive hauling a train runs across the lower portion of the note, beneath two blocks of Russian text setting out the terms and validity of the certificate, with two facsimile signatures of the People's Commissars of Transport and Finance.
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Descripción del reverso The reverse is entirely text-based, set in two columns of small Cyrillic letterpress text on plain paper. The left column details the conditions under which Transport Certificates of the additional issue are accepted in payment at state transport institutions up to 1 May 1924, and their exchangeability at the Котировальная Комиссия (Quotation Commission) rate. The right column reproduces an extract from the resolution of the Council of Labour and Defence of the U.S.S.R. authorising the additional issue of these interest-free loan obligations in denominations of 5 gold roubles up to a total of 5,000,000 roubles, series of one million roubles each.
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Comentarios

The 1923 gold rouble transport certificates were issued by Narkomfin as the Soviet government scrambled to stabilize exchange alongside the newly introduced chervonets. These certificates were denominated in gold roubles — a unit of account pegged to pre-revolutionary gold parity — not in the collapsing sovznaki that were hemorrhaging value by the week. The intent was to give railway freight operators and state enterprises a hard-currency instrument without actually disbursing specie.

The "transport" designation is literal: these notes were specifically tied to settlement of rail freight charges, a deliberate policy choice to bring order to one of the most economically critical and chaotic sectors of the early NEP economy. Circulation outside that channel was theoretically restricted, though enforcement was inconsistent.

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