Russia State Assignat 25 Rubles 1769

Russia State Assignat 25 Rubles 1769

Russia State Assignat 1769-1784 Issue    Assignation Bank

BANKNOTES "SOFT MONEY" INTRODUCED IN RUSSIA IN 1769

On the obverse is the text: "ОБЪЯВИТЕЛЮ СЕЙ АССИГНАЦИИ ПЛАТИТЬ МОСКОВСКОЙ БАНКЪ ХОДЯЧЕЮ МОНЕТОЮ ДВАТЦАТЬ ПЯТЬ РУБЛЕЙ 1769 ГОДА. САНКТ ПЕТЕРБУРГЪ" (Payable to the bearer of this Assignation by the Moscow Bank in "circulation coin" Twenty five rubles of 1769, Saint Petersburg.) Above the text is the Assignat's denomination in Arabic figures.

  Handwritten Signatures of two Russian Senators (Members of the Governing Senate of the Russian Empire.), handwritten signature of Chief Director of the Banks Boards and Director of the St.-Petersburg Bank or Moscow Bank.

The two embossed medallions on the top of the banknote:

At the left medallion - It included the same military attributes (cannon and banners) with the addition of cannonballs and, in addition, the attributes of trade (a bale with goods, a barrel, a scepter-caduceus of Mercury) and a ship in the sea. The composition was crowned with the inscription "ПОКОИТЪ И ОБОРОНЯЕТЪ" (PEACE AND DEFENSE).

At the right medallion - The impregnable rock in a stormy sea, sea waves with sea monsters. The composition was crowned with the inscription "НЕВРЕДИМА" (UNHARMED).

The paper is watermarked. Above and below in two lines are inscription ЛЮБОВЬ К ОТЕЧЕСТВУ (LOVE FOR THE FATHERLAND) / ДЕЙСТВУЕТ К ПОЛЬЗЕ ОНОГО (EFFECTIVE FOR THE BENEFIT OF IT). At the sides are ГОСУДАРСТВЕННАЯ КАЗНА (STATE TREASURY) on one hand and on the other the note's value spelled out in old Slavic letters. In the corners are displayed the coat of arms of the four Tsardoms –Tsardom of Astrakhan, Tsardom of Moscow, Tsardom of Kazan and Tsardom of Siberia.

RUSSIAN STATE ASSIGNATS

Russia State Assignat 1769-1784 Issue

25 Rubles 1769     25 Rubles 1778     50 Rubles     75 Rubles     100 Rubles

Russia State Assignat 1786-1818 Issue

5 Rubles     10 Rubles     25 Rubles     50 Rubles     100 Rubles

Russia State Assignat 1818-1843 Issue

5 Rubles     10 Rubles 1819     10 Rubles 1840     10 Rubles 1841     25 Rubles
    
 50 Rubles        100 Rubles        200 Rubles

ASSIGNATION BANK

Assignation Bank on Sadovaya Street. By B.Patersen. 1807.

ASSIGNATION BANK, founded in 1769 at the same time as the Assignation Bank in Moscow to distribute banknotes and exchange them for metal coins. Backed by copper coins equal to 500,000 roubles, the bank could only distribute banknotes for the same amount. The increase in public expenses, mostly for military purposes, and the budget deficit made the government expand paper money heavily, which in the end led to devaluation. After putting banknotes for a total of 836,000,000 roubles into circulation, the bank had to stop issuing banknotes in 1817. The bank also accepted private deposits and granted loans from 1771. In 1786, the Assignation Banks of St. Petersburg and Moscow were merged into the State Assignation Bank, and the money was minted in the building of the Assignation Bank in Bankovsky Monetny Dvor (Bank Mint) in 1799-1805. The State Assignation Bank was liquidated in 1847 as banknotes were replaced with state notes during E. F. Kankrin's currency reform of 1839-43 making a silver rouble a basis of money circulation. The building of the Assignation Bank built by architect G. Quarenghi in 1783-90 instead of the burnt wooden Morskoy (Sea) Market is monument of High Classicism architecture. The central 3-storied building with the Corinthian order portico is located in the back of the front yard, with storerooms forming a horseshoe. The yard is fenced in along Sadovaya Street, with the cast iron fence standing on granite posts with spheres on top. The bust of Quarenghi was installed in front of the main facade in 1967. The fence from the side of Griboedova Canal Embankment by architect L. Rusca was erected in 1817; a second storey was added to the facade on the same side in the mid-to-late 19th century. The building now accommodates the University of Economics and Finances.

BANKNOTES "SOFT MONEY" INTRODUCED IN RUSSIA IN 1769

  On December 29, 1768 (January 9, 1769) the empress Catherine II issued a manifesto on foundation of two assignat banks and banknotes issue.
  The banks established in St.-Petersburg and Moscow were in charge of exchanging copper money for the state banknotes of four face values: 25, 50, 75 and 100 rubles. They were printed with black printer’s ink on white paper with filigrees. In both capitals private individuals making public payments were obliged to use minimum one banknote of 25 rubles for every 500 rubles.
  The banknotes issue was justified by the fact that “the heaviness of a copper coin approving its proper value at the same time complicates its circulation”. At the time mainly was used a copper coin and in order to deliver 1000 rubles in this “currency”, weighting 62.5 poods, two carts were needed. Besides calculation of coins took a lot of time and usually entailed arithmetic mistakes. Soft money was deprived of such shortcomings.
  The immediate reason for banknotes issue was the war with Turkey of 1768-1774 that needed a significant financing. According to the plan of a Senate prosecutor general, prince A. A. Vyazemsky it was suggested to issue banknotes for the sum of 2.5 million rubles backed by the base coins of 2 million rubles and thus to use 500 rubles for covering the state charges.
  Since all the banknotes were originally printed on the same sheets of white paper with “Love for the fatherland” inscription at the top and “Effective for the benefit of it” at the bottom, frauds quickly started to forge 25 rubles banknotes for 75 rubles ones. Soon the issue of 25 rubles banknotes was stopped so that not to lead people into temptation. However for money falsification the death penalty was imposed, in rare cases replaced by penal servitude for life. In 1786 the assignat banks of St.-Petersburg and Moscow were transformed into the integrated state assignat bank which started to issue banknotes of a new pattern on the paper with more complicated filigrees.
  Originally the banknotes became popular but their emission increase mainly due to the increase of charges for the war needs and the nobles’ ownership of land support led to their abrupt devaluation. During 27 years of her reign Catherine II had issued the banknotes for the sum of 150 million rubles but there were almost no base coins for them. Currency circulation was in disorder and resulted negatively on the entire national economy.
  In 1843 started the exchange of banknotes for the state credit notes.