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Close
Tsarist Russia 1769-1917
The idea of issuing paper money in Russia appeared back in the 40s of the 18th century from Elizabeth Petrovna, reigning at that time. However, the Senate rejected it, considering it ridiculous that they would pay with some kind of “paper.” When Peter III ascended the throne in 1761, he found the treasury completely empty.
Then, a year later, by his own decree, the emperor ordered the production of bank notes to begin, which would partially replace metallic money in circulation. There were even tickets prepared in denominations of 10, 50, 100, 500 and 1000 rubles. However, the implementation of financial reform was prevented by a conspiracy, during which Peter was killed. Catherine II did not forget about a convenient and simple means of filling the treasury. Within 6 years, she established two banks.