5000 Roubles Don Cossack Military Government

The Vsevelikoye Voysko Donskoye — the Don Cossack Host — operated as a de facto independent state during the Russian Civil War, and its treasury issued its own currency accordingly. By 1919, when this 5,000 rouble note appeared, the Don government under Ataman Krasnov had already collapsed and been replaced by the more militarily cautious Bogaevsky administration, increasingly subordinate to Denikin's White Army command.

Printing in Novocherkassk was a practical necessity; the Don capital was the only secure urban centre available. High denominations like this one reflect the inflation already gnawing at White-controlled territories well before Bolshevik victory made the notes worthless outright.