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50 Roubles - Perforated North Russia - Chaikovskiy Government

Issuer Provisional Government of the Northern Region (Chaikovskiy Government)
Year 1919
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Shape Rectangular
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Obverse description Black on green guilloche underprint. The central vignette presents the State Duma building in Moscow set within an oval frame, surmounted by a radiating sunburst and flanked by foliate ornaments. The bold heading «ЗАЕМЪ СВОБОДЫ» (Liberty Loan) dominates the upper register, below which the denomination inscription «5% ОБЛИГАЦІЯ ВЪ ПЯТЬДЕСЯТЪ РУБЛЕЙ НАРИЦАТЕЛЬНЫХЪ» is set in formal letterpress type, followed by a patriotic address to the citizens of free Russia, multiple manuscript ministerial signatures, and the place-and-date line «Петроградъ, 27 марта 1917 года» at foot.
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Reverse description Dense Cyrillic letterpress text within a ruled border, printed in black on plain paper. The heading «1917 * ЗАЕМЪ СВОБОДЫ * 1917» appears at the top and is repeated at foot, framing the full legal and financial terms of the 1917 Liberty Loan issued under the Provisional Government decree of 27 March 1917, including coupon payment schedules, redemption conditions, and acceptance rules, with the notation «Срокъ послѣдняго купона 16 марта 1922 года» and the signature line of the Управляющий Государственным Комиссіонъ Погашенія Долговъ.
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Protection description Cancellation or validation perforations applied by the Chaikovskiy Government (Northern Region) to convert original 1917 Liberty Loan bonds for local circulation.
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