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Scripophilia (2891)
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Close
About 65 bond issues were issued in the USSR, mostly before 1957. Almost all loans were forced; in various ways, citizens were motivated or forced to buy securities to patch financial holes in the state budget.
On May 20, 1922, the first "natural" state loan was issued for 10 million pounds of rye for a period of 8 months. Later, loans were also issued in cash equivalent. After that, grain and sugar interest-free short-term loans were issued. After the 1930s, forced subscription to bonds became the main form of placement government loans. From 1946 to 1957, 5 editions of bonds were issued, the income on which was paid only in the form of winnings. In 1957, the Central Committee of the CPSU and the Council of Ministers of the USSR, by decree, practically canceled the issuance of new loans and payments on the issued ones were deferred for 20 years.