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5000 Roubles 5% FREEDOM LOAN DEBENTURE BONDS
| Issuer | Provisional Government of Russia |
|---|---|
| Year | 1917 |
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| Value | 5000 Roubles (5000 Рублей) |
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|---|---|
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| Reverse description | Printed in black on white paper, the reverse is a densely typeset document carrying the full legal and financial terms of the 1917 Freedom Loan, issued by authority of the Provisional Government decree of 27 March 1917. The headings 1917 ЗАЕМЪ СВОБОДЫ 1917 appear at both the top and bottom in bold Cyrillic lettering, with the text body arranged in multiple justified paragraphs detailing interest rates, redemption conditions, and payment schedules. A final line notes the last coupon date as 16 марта 1922 года, with the signatures of the State Debt Redemption Commission and a bookkeeper at the foot. |
| Reverse lettering | 1917 ЗАЕМЪ СВОБОДЫ 1917 выпущенный на основании Постановления Временного Правительства от 27 марта 1917 года Управляющий Государственной Комиссией Погашения Долгов Бухгалтер Срокъ послѣдняго купона 16 марта 1922 года 1917 ЗАЕМЪ СВОБОДЫ 1917 |
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| Comments |
The Freedom Loan — Zaём Svobody — was launched in April 1917 by the Provisional Government as a desperate attempt to fund continued participation in World War I. The appeal to patriotism was deliberate: the word "freedom" referenced the February Revolution just weeks earlier, and the campaign was backed by public rallies, celebrity endorsements, and even Kerensky himself touring the front. It raised far less than projected.
These debenture bonds circulated as de facto currency when the banking system fractured. The Bolshevik government repudiated the entire loan after October 1917, rendering all outstanding bonds worthless — which is why high-denomination examples like this 5000-rouble piece survived in quantity; holders simply stopped redeeming them.