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From The History Of Armenian Coins: Currency Of First Armenian Repub

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  • From The History Of Armenian Coins: Currency Of First Armenian Repub

    FROM THE HISTORY OF ARMENIAN COINS: CURRENCY OF FIRST ARMENIAN REPUBLIC

    The Bons of the Transcaucasian Commissariat were printed with the
    value of 1, 3, 5, 10, 50, 100 and 250 rubles in 1918.

    The first branch of the State Bank of the Russian Empire was
    established in Yerevan in 1893. After the October Revolution in
    1917, Transcaucasia, consisting of the Elisabethpol, Erivan and
    Tiflis Governorates populated by Armenians, Georgians and Caucasian
    Turks seceded from Russia and transformed into a unified independent
    Transcaucasian Commissariat, with the center in Tiflis.

    October 30, 2013

    PanARMENIAN.Net - The Finance Ministry of the Transcaucasian
    Commissariat issued and put into circulation currency called Bons,
    with inscriptions in Russian, Armenian, Georgian and Arabian
    languages. These were the first bank notes carrying Armenian letters.

    Description of first Armenian bank notes

    The Bons of the Transcaucasian Commissariat were printed with the
    value of 1, 3, 5, 10, 50, 100 and 250 rubles in 1918. The Bons were
    beautifully decorated with numerous national elements, patterns and
    ornaments. 1- and 3-ruble Bons had vertical print while those with
    bigger value had horizontal print and multi-color design.

    Bons of the Transcaucasian Commissariat

    Well-known architect Gabriel Ter-Mikelov (Ter-Mikelian), who projected
    the building of the Georgian State Bank in Tiflis (Tbilisi), drew
    the sketches of Bons.

    After Russia's Finance Minister Sergei Witte issued permission for the
    formation of State Bank branch in Armenia in1893, private banks were
    established, thus contributing to the development of entrepreneurship.

    In May 1918, the Transcaucasian Commissariat collapsed. Armenia was
    declared an independent republic on May 28 and the Ministry of Finance
    ordered issuance of new currency. With time and funds necessary for
    the process, it was decided to issue checks of the Yerevan branch
    of the State Bank. At the same time, the Bons of the Transcaucasian
    Commissariat were still in circulation.

    Description of first Armenian checks

    The first checks of the Yerevan branch of the State Bank were issued in
    August 1019. They were of the same type, one- and two-sided. All the
    inscriptions were in Russian, with only some of the checks mentioning
    the value in Armenian.

    First checks of the Yerevan branch of the State Bank

    The checks were expected to be exchanged for money within three
    months. However, it didn't happen and the hard economic conditions
    forced emission increase. The sketches of the checks printed by
    the press of the Armenian Ministry of Internal Affairs were drawn
    by artist Garegin Levonyan. It's worth noting that a strict law on
    struggle against counterfeiting was in force at that time, prompted
    by the law quality of the currency.

    The bank notes of the first Republic of Armenia were issued with the
    value of 50, 100 and 250 rubles in 1919, the sketches being drawn by
    artists Hakop Kojoyan (the author of the national emblem) and Arshak
    Fetvadjian. The bank notes were printed in London by Waterlow and
    Sons Ltd company and were put into circulation in June 1920.

    Description of bank notes of first Republic of Armenia

    The bank notes were notable for high quality, design and protection
    level. They featured national ornaments, Mount Ararat and eagle with
    sword cutting a snake. The inscriptions were in Armenian, Russian
    and French.

    Bank notes of first Republic of Armenia

    The bank notes of the first Republic of Armenia were in circulation
    for a short period of time and were annulled after the establishment
    of the Soviet rule. In 1921, the currency of the Socialist Soviet
    Republic of Armenia (SSRA) was put into circulation.

    Description of SSRA bank notes

    To ensure uninterrupted money circulation, checks of the Yerevan
    branch of the State Bank were issued in 1921 with a nominal value of
    10 thousand rubles. Later bank notes with the value of 5000, 10000,
    25000, 100000, as well as 1mln and 5 mln rubles were printed. The
    inscriptions were in Armenian and Russian. The bank note with the value
    of 500000 was issued as a trial copy and was not put into circulation.

    SSRA bank notes of 1921-1922

    Bonds with the nominal value of 5 mln rubles were issued in 1922
    for the further exchange for money. They had one-side print, with
    inscriptions in Armenian.

    SSRA bond of 1922

    Bonds with the value of one tchervonets (ten-ruble banknote) were
    issued in 1923. The images reflect the way of life and national color
    of that period. They had no individual number and were not put into
    circulation.

    Also, by decree of 1920, the money of the Russian Socialist Federative
    Soviet Republic was also in use in the territory of Armenia.

    The material was prepared in cooperation with Gevorg Mughalyan,
    the numismatist of the Central Bank of Armenia.

    Viktoria Araratyan / PanARMENIAN.Net, Varo Rafayelyan / PanARMENIAN
    Photo

    http://www.panarmenian.net/eng/details/171988/




    From: A. Papazian
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