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| 正面描述 | Brown intaglio print on green guilloche underprint. The centre bears the large Cyrillic denomination inscription within an ornate frame, surmounted by the Imperial double-headed eagle vignette flanked by elaborate scrollwork and the numeral 50 in the upper corners. Below the denomination panel, printed signature lines for the Manager of the State Debt Commission, Director, and Accountant appear above the serial number, with a lower cartouche noting the validity date of 1 August 1928 and interest rate medallions of 4% at each lower corner. |
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| 背面铭文 | Положенiе о разрядѣ (серiи) билетовъ Государственнаго Казначейства за № CDXLIV (444) ПРОЦЕНТЫ НАЧИСЛЯЮТСЯ СЪ 1 АВГУСТА ТЫСЯЧА ДЕВЯТЬСОТЪ ЧЕТЫРНАДЦАТАГО ГОДА. СЕРIЯ CDXLIV (ЧЕТЫРЕСТА СОРОКЪ ЧЕТВЕРТАЯ). |
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This note belongs to the last peacetime series issued under the Imperial Russian Treasury before the First World War shattered the currency system. The 1914 date is deceptive — the Russo-Japanese War and the 1905 revolution had already strained state finances badly, and by 1914 Russia's convertibility to gold was increasingly nominal rather than real. When war was declared, the government immediately suspended gold redemption and began printing heavily. Notes from this series entered circulation alongside rapidly depreciating companions.
The nearly square format is unusual for a denomination of this size and reflects the Treasury's in-house production practices rather than the output of a foreign security printer.