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5000 Roubles Short term certificate
| Issuer | Narodny Komissariat Finansov (People's Commissariat of Finance), RSFSR |
|---|---|
| Year | 1922 |
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| Value | 5000 Roubles |
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| Obverse description | Plain typeset obligation note of the Russian Socialist Federative Soviet Republic, with the series designation 'НА.' and denomination 'Руб. 5.000.' printed in the upper corners. The central text body, in Cyrillic letterpress, sets out the bearer obligation to pay five thousand roubles in 1922 currency signs (or fifty million roubles in earlier settlement signs) at all cashier offices of the Narkomfin, Gubfinottdels, Ufinottdels, and the State Bank of the RSFSR. Three manuscript signatures — of the People's Commissar of Finance, the Head of the Monetary and Settlement Signs Department, and the Chief Accountant — appear above the serial number and date '1922 г.', with additional fine-print redemption conditions occupying the lower portion of the note. |
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| Obverse lettering | Серия НА. Руб. 5.000. Обязательство Российской Социалистической Федеративной Советской Республики. Пред'явителю сего уплачивается пять тысяч рублей денежными знаками образца 1922 г. (или пятьдесят миллионов рублей расчётными знаками предыдущих выпусков) во всех Кассах Народного Комиссариата Финансов, Губфинотделов, Уфинотделов и Государственного Банка Р.С.Ф.С.Р. Народный Комиссар Финансов Заведующий отделом денежн. и расчёт. знаков Главный Бухгалтер № 007494 1922 г. |
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The short-term certificates (kratkosrochnye obyazatelstva) issued by the People's Commissariat of Finance in 1922 were a stopgap instrument born of the NEP-era fiscal crisis. The Soviet state, unable to control hyperinflation through conventional means, issued these quasi-bonds as a parallel circulating medium — they functioned as currency in practice while technically remaining state debt obligations, a legal distinction that mattered for the accounting of money supply.
The 5000-rouble denomination was significant at issue and nearly worthless within months. By late 1922, the rouble had depreciated so catastrophically that this series was already being displaced by the new chervonets-backed instruments before many certificates completed a single cycle of use.