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2021-06-09 Other articles >

Borrowed tickets of the Vladikavkaz Railway

50 rubles VLKZHD 1st issue 1918

By the autumn of 1918, when the Kuban and Don were cleared of the Bolsheviks, the Cossacks decided to seriously engage in the real economy, and they began with the most important thing – with the railways.
The Vladikavkaz Railway – VLKZHD) - a private railway with a length of more than 2.5 thousand km with a rolling stock of 800 steam locomotives, 19.5 thousand freight and 800 passenger cars - in 1918 was in dire need of investment: the rolling stock was worn out, the depot repair base required technical re-equipment, and the military actions worsened the condition of the railway track and engineering communications.
Loan-this familiar financial instrument from the pre-Bolshevik era was used by the Board of the VLKZHD, headed at that time by the last Minister of Railways of tsarist Russia, E. B. Krieger-Voynovsky.
Everything was done professionally:
  • determined the amount of borrowing – 60 million rubles;
  • determined the terms of the loan – 5 1/4% per annum;
  • determined the loan term – 2 years;
  • received a guarantee from 2 governments-the Kuban Region and the All – Great Army of the Don;
  • approved the personal composition of the Loan Committee from representatives of the VLKZHD (Osipov), the Rostov n/A office of the State Bank (Gulbin), the government of the Kuban Region (Sinev, Kvitchenko), the All-Great Don Army (Nephews, Churilov, Syrovyatkin). VSYUR (Tsakoni).
As a certificate for receiving interest income, borrowed tickets in denominations of 50 rubles, 100 rubles, 500 rubles and 1,000 rubles were printed, made in the Expedition for the production of banknotes at the Rostov N/A Office of the State Bank, which had previously mastered the production of Don rubles.
Tickets with a face value of 50 rubles – for my taste-turned out to be the most successful in design: the size of 160 mm x 93 mm, on paper without watermarks, but with a coated pattern on the background of diamonds with the ticket face value enclosed in them - '50'.
On the front side of the ticket there are images that combine railway themes with ancient symbols.
The reverse side of all denominations is decorated with a map of the VLKZHD coverage region – the territory between the Azov, Black and Caspian Seas.
The tickets were signed by the Chairman of the Management Board, E. B. Voynovsky-Krieger, and the Head of the Main Accounting Department, I. Bertholz.
Unlike the usual bonds, the borrowed tickets of the VLKZHD did not have coupons – when they were repaid, it was supposed to add the interest accumulated at the time of calculation to the nominal value of the ticket.
The issuers and guarantors of the loan took care of maintaining a steady demand for borrowed tickets: before the expiration of the loan, they were accepted by all the ticket offices of the Russian Railways and all branches of the Rostov N/A office of the State Bank at their nominal value, i.e. they actually performed the functions of money throughout the North Caucasus and on the Caspian Sea coast.
Unfortunately, for those who invested money in the borrowed tickets of the Komsomol, they did not become a successful investment – before the expiration of the 2-year period, the borrowed tickets were canceled in March 1920 by the resolution of the Revolutionary Military Council of the Caucasian Front, and without the right to exchange for any money: according to the laws of the revolution, the bourgeois were not entitled to compensation.
My bona B 5991 – in the press: it probably remained in the stash without waiting for its repayment.

Заемные билеты Владикавказской железной дороги

50 рублей ВлкЖД 1-го выпуска 1918 г., Россия

Country : Россия
Denomination : 50 рубль
Year : 1918
Quantity :
Issuer :
Series :
Valid from :
Valid till :
Cancelled :
Alexander R.

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