Caucasian bonds

In February of 1917 as a result of a revolution that took place in Russia, the government passed the Provisional Government. State Bank continued emissions of the state credit tickets (rubles) as before (simply Nikolayevka s were replaced by Kerenkass)

The Provisional Government canceled Caucaus Governate and to manage it in March 1917 it establishes the Special Committee of the Caucasus. On 11 (24) November, 1917 the Transcaucasian Commissariat was established in Tbilisi.  Coalition government included Menshevist, eser, and the Musavat party and Dashnaksutyun representatives.

To combat money hunger that began, the government begins to issue banknotes in February 5, 1918. This emission was in the form of the Transcaucasian Commissariat’s bonds and distributed among Georgia, Armenia and Azerbaijan by means of negotiation.

Bonds were printed on ordinary paper, in few color patterns. The inscription on bonds in 4 languages - Russian, Armenian, Georgian and Azeri in read as: Bonds of the Transcaucasian Commissariat had an equal right for use in circulation together with the state credit tickets.

Bonds of Transcaucasian Commissariat were issued in the form of face value of 1, 3, 5, 10, 50, 100 and 250 rubles. On April 22, 1918 Transcaucasus Seim has declared the Transcaucasus an independent federal state.  On May 26, 1918 Seim was liquidated, and instead of it three democratic republics: Georgia, Armenia, Azerbaijan were created. However, bonds of the Transcaucasian Commissariat were published until September 1919. During all this period 1,360,000,000 rubles with face value were emitted. During the first years along with Russian and Baku bonds the Transcaucasian bonds also used widely in the independent republic.