Currency in the early years of Soviet state. Part 3.
State money sign 1922 released when preparing to first denomination
The first denomination did not decide all problems
of making of new, firm and reliable currency. In march —
april 1922 was consisted by XI convention CC RCP(b), on which all-round
discussed financial problem and accepted decision on making firm soviet
currency. In resolutions of convention «On financial politician» was indicated:
«For the given moment it is necessary, not in the least not putting problems
immediate going back to gild turning, firmly install that our economic
and financial policy is resolutely configureded for recovering a gilding
ensuring a money...»1.
In the october 1922 g. State bank was afforded right
to release bank tickets in gold calculus by value in 1, 2, 5, 10, 25 and
50 tchervonets. Taking such deciding preceded discussing a waking new soviet
it is money name. Were
attempts to tear with names, established on length of ages, and enter
new, «revolutionary». For instance, workmans
People Commisariat of Finance have offerred to refer to as unit of
hard soviet currency «federal». Discussed and more traditional names —
celkovy and tchervonets. Word «celkovy» in folk with old - was marked ruble
silver coin — «celikovy (whole) rouble». «Tchervonets» in Russia were refered
to as foreign, most often dutch ducats, which were engraved from big standart
fineenes alloy, «tchervon (red)» gold. Later
this name has alterred by sawing to tsarist coins, contained 3,4 g gild.
Offerred also name «grivna», but in earnest this was not considered, as
far as per annum civil war its compromised counterrevolutionary governments,
produced sign with such name.
After discussing was decided to refer to as new
currency «tchervonets». This word was associated in consciousness of people
with the notion on hard gold ensuring a money and was to cause a confidence.
Motivating practicability of issue an червонцев, resolution SPC
explained that is done this for «increasing the circulating assets
without the further expansion of emission of money signs, in interests
of adjusting a money turning and coming from spares accumulated real valuables».
Appearance in money system of country an tchervonets
put serious change into it. First, this were money, completely provided
by state by platinum, gold, silver, foreign exchange and deficit goods
of excess demand. State warranties an tchervonets were hard. One tchervonets
was changed on 1 zolotnyk 78,24 share (8,6 g) net gold. Secondly, decree-law
strictly linked amount produced in address an tchervonets with requirements
of trade turnover. Thereby, for the first time after October revolutions
have appeared soviet credit money, which issue initiated a money reform
in the country.
On the first stage a scope of turning an tchervonets
was highly narrow. On face value they were taken only in payment of state
collections and payments, numberred in gold. This is because as far back
as 1921 made attempt to enter price calculus in gild roubles. For this
purpose financial organs have installed prices in золоте on: returned in
the lease of enterprise; wood; transport of passengers and baggage railway
and water transport. But calculus prices in gold at conservation as facility
of turning depreciated sovsigne itself did not justify and was cancelled.
Payments in gold were numberred for customs duties and consular collections
only. However firmly provided tchervonets
begin
to conquer an authority and sphere of its action become to enlarge.
Bank tickets by value in 5 and 10 tchervonets have
enterred in address at the end of november 1922 g. Bills in 1, 3 and 25
tchervonets were put in turn later. Spreading them on the country is delayed
before summer 1923 g. Banknotes by value in 2 and 50 tchervonets, provided
the decree-law, as well as were not released for uselessness.
As it was noted earlier, beside populations on hands
have large mass gold(en) and silver coin tsarist emission. In 1922 state
legalized
its use in acts bathed-sale and has allowed state organizations to take
payments in gold(en) coin. Ithaca, to output in address paper tchervonets
on «free» market is installed unofficial quoting gold in sovsigne. Gold(en)
tsarist ten-rouble notes (8,60 g) was valued on market in 12 500 rub. sovsigne
1922. As far as decree-law on the issue paper tchervonets
did not install their correlation with sovsigne 1922, State Bank,
following conjuncture, by itself has defined a parity and has valued one
tchervonets in 11 400 rub., etc. several below market price gilded ten-rouble
notes.
By the end of 1923 tchervonets on home market has
displaced from payment turn gild coin and foreign exchange. On 16 octobers
1924 paper tchervonets was released on 557,5 million roubles. They were
ensured on 131 million rub. gold in coins and bullions, on 7 million —
platinum in bullions, on 103 million rub. — american, english and swedish
currency, rest amount — valuable goods.
In october 1922 accepted decision on issue gilded
tchervonets
in the manner of coins. Development them exchange management People Commisariat
of Finance
RSFSR has entrusted Petrograd mint in august. In task indicated
that coin without fall must carry on itself inscriptions «RSFSR», «Proletarian
of all countries, unite!» and indication of nominal value by words «One
tchervonets». On Mint have prepared outlines of two different types an
gerb sides and three types — face. Came From suggestions that coins must
be three types: with expressing working beside tool, peasant in field and,
finally, with particular drawing for
Transcucasian republics. These projects
not they were approved, and in november in PCF
have
enterred four new outlines: two — gerb and two — card faces. The Author
of drawings become main medalier of Mint A.F. Vasutinsky, contributed considerable
contribution to the development of russia and soviet medal art. Aside from
the soviet coin development, A.F. Vasutinsky in 1930 is executed final
variant is hollerred Lenin, made modelling first badge «Ready to the Labour
and Defence».
For the base of registration a card face an tchervonets
A.F.
Vasutinsky has taken a scene of Peasant-sower on the Shadr's sculpture
(pen name of artist I.D. Ivanov), executed on order Goznak. This is because
Shadr, worked at 2-й Moscow factory Goznak, was entrusted outline development
of new money signs and postal mark. For this it modeled bust of Red Army
Man, Worker and Peasant, but already afterwards, having chosen best type,
drew them. Presently, work Shadr belong Tretyakov Gallery. Drawings with
these sculptures in the base of Third standard issue postal mark RSFSR
(1922—1923)
and First standard issue postal mark USSR (1923—1928). Scene of Sower,
except the metallic tchervonets, was repeatedly reproduced on banknotes
and bonds, released in 1924—1927.
On vorderseite golded
tchervonets
was
placed stylizing drawing of blazon
RSFSR, under him on figured dashboard
an inscription
«RSFSR». On the greater circle, framing drawing, go a slogan
«Proletarian of all countries, unite!», feasible font, reminded get old
slavonic elm. 27 november 1922 project of coin was approved and began its
mintage.
The first denomination, vastly shortenned money
mass, based in turning, has saved a population from need in everyday lifes
to keep an count on miilion and billion. However presence in turning two
not equal topple created much difficulties for development of economic
and trade activity in country. Explored these questions L.N. Yurovsky write:
«...created absolutely abnormal relations between city and villages. More
rich peasantries had already tchervonets, but for peasant mass an tchervonets
was too roads and inaccessible. It stayed else rarity in village.
Renderred that tchervonets
become mainly town
currency, but village has stayed under soviet money sign mainly. But peasantry
understood that get soviet money sign for goods — highly unbeneficial operation.
He happen to to do that long ago already do city. It sold their own products
in that measure only, in what receipts could be immediately turned to buying
necessary him subjects. On market a peasant first asked the price of to
nails, calico and other, and afterwards sold exactly products, how much
it is necessary was for buying a pound of nails or archin fabrics. It could
sell 10 poods flax, but it brought on market only 1 pood, from which it
20 pounds carry;be lucky back in village else. Agricultural product delivery
become be shortenned. Agricultural product prices increased
»2. In these conditions were required
new measures, directed on statement of united and hard currency for
the whole country.
The Second stage of money reform began with the
new denomination sovsigne, which was conducted from the december 1922 year.
Purpose its was concluded in that to change money signs 1922, played role
of intermediate exchange equivalent, on new. Exchange was produced on the
rate 100 rub. old signs for one rouble of sample 1923 year.
Population, well familiar with purposes and methods
earlier conducted denomination, attributed to state action with approval
and has renderred him a support. However on new money signs in explanation
purposes fitted such inscription:
«ONE rouble 1923 is ONE MILLION ROUBLES an sign, exempted from circulation,
or ONE HUNDRED ROUBLES an sign 1922». This explanation allowed people quicker
to get accustomed to the new price scale, learn quickly to move over to
the count from earlier accustomed «lemons» to new roubles.
For 1923 soviet money system noticeably has grown
strong. If on 1 january specific weight an tchervonets in general money
mass based in turning, formed 3%, on 1 october it is raised before 74%.
This has allowed state to install prohibition on use in country as payment
facilities tsarist gilded coins and foreign exchange. From summer 1923
g. salary to workers and serving steels to pay
tchervonets.
Planning continuation gold(en) money program, PCF
give Mint a task to take new heraldry of Soviet union account into coins.
After conversion a drawing gilded tchervonets become to look so: card face
former — Sower (only date is changed on 1925), on vorderseite to side fitted
USSR blazon with seven interceptions of tape. On the greater circle between
single-line and point thin rims was placed inscription, done stylized under
the slavonic elm by the font: «Proletarian of all countries, unite!», adown,
under cut ears of blazon, placed inscription «USSR». To issue of new coin
all get ready, but further tests a deal did not go.
Gilded coins program, developped when preparing
to issue paper tchervonets, had auxiliary, reserve value. Reasons done
gild coins program of unnecessary, steels such factors. First, in that
period beside states already has fallen off necessity in use gild in internal
address. Secondly, in systems of money turning the capital countries themselves
was developped process of transition to pared forms of gilding standard:
gold-bullion and gold-motto. This meant that changing the banknotes by
state was realized only on gilded bullions in first event and to foreign
exchange — second.
State money sign 1923, released for second denomination
Wholly understandable that Soviet state was not a sense
to lead foreign trade calculations in the voiced gold(en) coin, more so
that diplomatic confession USSR capitals countries, begun in 1924, allowed
to conclude foreign trade contracts for conditions of granting the credits.
With provision for all stated circumstances and was not accepted deciding,
confirmed gold(en) tchervonets 1925 coin,
allowed in address.
Banknote in three tchervonets with drawing of Sower
However, question on gold tchervonets sample 1925 for
certain part an collectionier stays unclear hitherto. With one sides, it
was tangled beside newspaper publications at period of preparing gold(en)
coins program, with other — premises of its expressing in Big Soviet Encyclopedias.
One of the first reporting such sort become mark in «Krasnaya gazeta (Red
newspaper)» (Leningrad), which at january 1925 has reported on supposed
overstrike soviet gilded spare in tchervonets. In march of same in «Financial
newspaper» and in «Izvestiya» pass information on preparation to mintage
new gilded coins, and in «Krasnaya gazeta (Red newspaper)» has appeared
scene an tchervonets
sample 1925. So, beside
one,kept a check on move of deals on press, is packed impression that tchervonets
1925 fell into address.
1. CPSU in resolutions and deciding the conventions,
conferences and plenums CC. - M.: Politizdat, 1970. - V. 2 p. 329.
2. Yurovsky L. Money policy Soviet authorities. 1917 - 1927. - M.,
1928. - p. 30
