The very first paper money in the world was produced by the Chinese. This happened at the beginning of the ninth century AD. Ancient paper money was large rectangular sheets with sides measuring approximately twenty by thirty centimeters.

The emperors of China have tried before to replace money made from metals with more convenient and affordable ones. The first attempts date back to the first century BC. Then parchment was used as a material. Existed whole line reasons that led to the introduction similar innovation:

1. Copper. In China, banknotes were made primarily from copper, which was one of the most sought-after metals of that time period. Therefore, replacing the material made it possible to use the valuable metal for other needs.
2. "Heaviness" of calculations. The average wallet among merchants began to weigh from three kilograms. And large transactions could be accompanied by a whole convoy of means of payment.
3. Development of the paper industry. Paper is a fairly durable, cheap and lightweight material. Which led to the complete replacement of parchment and parchment money.
4. State income. The value of the banknotes was guaranteed by the imperial authority. But for this, during the exchange, officials charged a legally established percentage.

Distribution history

First paper banknotes China was issued exclusively for large amounts of 1000 conventional units. Therefore, they were used mainly by merchants. But around the thirteenth century, banknotes accessible to the general population were introduced into circulation.

At the same time, this innovation was also appreciated by the Mongols. Over a fairly quick period, they switched to using paper certificates and brought them to the conquered territories. But there paper money quickly depreciated and did not cease to be in demand.

Japan introduced paper currency already in the fourteenth century, also in the form of bills of exchange for large sums. But by the seventeenth century it was carried out currency reform, which led to the widespread use of paper for making money.

In Europe The merits of the bills were appreciated, but due to the undeveloped paper industry, tanned animal skins were used as the main material. And only at the end of the sixteenth century, in the besieged city of Leiden (the territory of modern Netherlands), paper was first used. The reason was the lack of metal and leather due to the length of the siege.

The first official money was issued from paper in Stockholm already in 1660. Their developer was the banker Johann Palmstruch. A year later, British banks began issuing banknotes.

When did they start printing money in Russia?

The use of printed banknotes has begun in Russia in 1769 under Catherine II. It was on her orders that half a million metal rubles were sent to the main banks of Moscow and St. Petersburg.

And paper bills of various denominations were issued for the same amounts. In this way, money was protected from depreciation and inflation.

By the middle of the nineteenth century, Russia had completely switched to paper money. For comparison: in Europe this happened only towards the end of the nineteenth century, and in the USA - in the thirties of the last century.

Do you know when books appeared and what they looked like?

Previously, any goods that had their own could act as money. material value. Only with the development of society and market relations did the concept of barter (exchange) fade into the background. To find out who invented money, you need to look far into history.

Reasons for the appearance of the first money

Money in everyday life appeared as a result of barter, which was inconvenient to use. In fact, it is impossible to estimate the cost of production. Therefore, previously, in the absence of an objective measure of value, conflicts arose between people. Society needed a universal exchange instrument. In addition, barter relationships did not assume that both parties would be satisfied. The product offered for exchange could be uninteresting for one of the participants in market relations.

Money is a unique commodity that allows you to express the value of any exchanged product. They definitely have value as they are compact but can be split apart. Money is hard to come by. They don't lie underfoot. This is a long-term storage product, the equivalent of which will not change over time. The reason for the appearance of money can be called an agreement between people who realized that in the process of exchange they needed special intermediaries.

History and evolution

Historically, money appeared only after a problem with the exchange of goods was identified. Previously, in order to get what they wanted, people offered to exchange one thing for another. If a primitive man needed a tool, he had to find someone who had it and who would be able to make a counteroffer.

Since the life of the ancestors was difficult, and clothing, food, and household items were obtained through hard work, goods were rarely produced not for personal use, but for sale. Only after hunting and berry-picking faded into the background and people began raising livestock and growing crops did surplus produce appear. The tribes traded animal meat for grain. This is how barter was born.

The first money was not like the usual banknotes. The form of currency, depending on the region of use, was:

• pebbles;
• tea leaves;
• tobacco;
• salt;
• cocoa beans;
• shells;
• ivory and wool.

History knows examples when it was possible to pay for goods with cattle or fish. “Fur” money was present in Siberia. In fact, one could pay with the skins of animals. It is interesting that this form of currency was used on the farm according to its intended purpose. In countries where deposits of silver and gold were found, these metals were used, acting as money. Thus, according to information about historical excavations in ancient Mesopotamia, that is, 3.5 thousand years BC, silver was one of the forms of currency.

It was only in the 18th and 19th centuries that people stopped mining gold to satisfy their trading needs. A different payment system has emerged. Governments of various countries began to issue paper money. Each banknote had its own denomination. Banks worked by issuing credit money. This is how money circulation was formed.

Now money is credited with 4 functions. They act as a measure of value, are a means of payment, are constantly in circulation and can be a means of accumulation.

Modern money has the form:

• coins;
• paper bills;
• non-cash deposit;
• electronic (digital);
• virtual.

The emergence of a universal means of payment has had a positive impact on society. Digital money is gradually replacing paper bills and coins. They are endowed high degree security. This provokes constant public demand for cards with a computer chip that store information about the account status of its owner. Unlike paper money, stealing electronic ones is much more difficult. The most modern type of currency is virtual money. Unlike all the others, they are not provided with anything, and their number is limited by the code embedded in the algorithm. Moreover, anyone can produce them.

Digital and virtual money exchange expand the boundaries of the concept of money as a medium of exchange - it no longer has a material form, but real things can be purchased with it. Owners electronic wallets(WebMoney, Yandex.Money, Oiwi), as well as those who know how to earn bitcoins using computer programs, can pay their bills and make purchases without leaving home. Electronic system calculations is gaining new momentum.

The appearance of the first coins

Metal money in the form of coins was created in Lydia (Asia Minor) back in the 7th century BC. Previously, Lydian residents also used the opportunity to exchange until they appreciated the value of gold bullion. The trade involved pieces of metal of various sizes. They had to be constantly weighed. The creation of coinage eliminated these difficulties. In addition, the growth in the amount of money began to exceed gold reserves. We had to abandon the gold standard.

The Persian king Darius I launched the coin in the 6th century BC. It was distinguished by its high content of pure gold - 8.4 g. It was used not only in the territory of the kingdom, but also abroad. Taxes were paid in gold “gifts”. They participated in large trade operations.

The King of France, Charlemagne, tried to restore order to the treasury. He ordered the minting of coins with his appearance. People who refused to accept this form of payment could face corporal punishment or a fine.

The word “coin” (from the Latin “moneo” - “I advise”) appeared thanks to the temple of the goddess Juno-Coin on the territory of Ancient Rome, where metal money of a similar type began to be issued for the first time. Later, other states began to mint coins, wanting to create an individual image.

In 1944, the US dollar was recognized as the only currency that was backed by the value of gold. In the 1960-70s, metal money made from precious metals ceased to be issued. Only small coins remained in circulation, which had practically no value.

Who invented paper money

The story briefly describes that with the advent of paper money, which became widespread in Europe only in the 18th century, there were disagreements among scientists around the world. K. Marx, D. Ricardo and a number of other followers argued that only gold can be considered a full-fledged currency of account. At that time, paper money was only a substitute for precious metal. Scientists exclaimed that the abandonment of gold can be considered a temporary phenomenon.

The Chinese were the first to become interested in money made from paper. They took precious metal coins for storage. In some semblance of a bank, they were given a document that allowed them to pay for goods with other merchants. As a guarantee that the paper really has its value, a person could present a receipt. Such market relations began to exist back in the 600s AD.

At the state level, paper money began to be issued in China in the 10th century. The Song Dynasty introduced two banknote denominations: "1" and "100" jiaozi. Initially, banknotes were issued with a limited validity period and could only be used in a certain part of the state. With the advent of the Yuan Dynasty, territorial restrictions on the first printed paper bills were lifted. They were produced in 4 cities.

With the conquest of Chinese lands by the Mongols, society had to abandon the usual form of issuing money for 10 years. Then the process resumed. Paper money again became a means of payment. In the 14th century the value of such money changed characteristically. The government has lost control of the country's gold reserves.

Only in the 19th century did changes occur in China, and society returned to paper bills. The traveler Marco Polo, having visited this state, was simply amazed by the capabilities of the banknotes issued by the government. The sheets of paper themselves are worth nothing, but you can buy any wealth for them. Marco brought some paper money with him to Europe, but only to show as an example. On the European part of the continent they came into use much later.

In Russia, paper bills have been distributed among society since 1769. The global economy began to take advantage of such opportunities en masse by the end of the 19th century.

The final abolition of the smelting of gold dollar coins occurred in 1971. These changes overtook England, Germany and France a little earlier, immediately after the First World War. The need to switch to paper money was forced, but for many states such drastic changes were shocking. Although they seemed much easier to use, lighter, and also fully served as a measure of value.

With the pace economic development the need for money grew. Soon people appreciated all the advantages of paying with paper bills. Without a doubt, there were also shortcomings. Society knew that there was a certain risk and that at any time money of this form of issue could be devalued, while metal coins, regardless of the year of issue and the state that produced them, always retain their value.

Official rate foreign currency in relation to the national one is established by the state government or the bank. But there is also a market value - the one for which money from different states is exchanged for each other in a free economy (on the stock exchange).

Now paper money allows you to purchase goods from any country. There is no need to wait for someone to agree to barter. The modern monetary system in the Russian Federation provides that the person responsible for the issue or withdrawal of banknotes from circulation is central bank Russia.

Origin of money in Rus'

The idea of ​​issuing the first paper money in Rus' was proposed by Elizaveta Petrovna, who ruled the state for 20 years, from 1741 to 1761. The Empress tried to cope with the problem of shortage Money in the treasury. A lot of time and resources were spent on making coins. There was a need to reduce costs.

Only Peter 3 was able to implement the project of transition to paper money, replacing Elizaveta Petrovna in office and signing the corresponding Decree. The document stated that banks in Moscow and St. Petersburg should issue paper money. They are required to replace the coins.

Catherine II, replacing her predecessors, made the first order. Banknotes of 100, 50 and 20 rubles were issued. The banknotes were of very poor quality, as there was a Russian-Turkish war. It was mentioned in history that even royal tablecloths were used to create banknotes. Nevertheless, the demand for such money was great, and therefore the bank soon created banknotes in denominations of “5” and “10” rubles.

In 1797 it turned out that too much money had been printed. There were approximately 18 billion paper rubles in circulation. Inflation has come to Russia. To save the monetary system, in 1843 it was decided to introduce credit money. True, this step of the empress did not save the situation. I had to give up some of the money. They were withdrawn from circulation.

Paper money in Rus' was protected from counterfeiting using a complex composition of paint that was applied to the banknote. Each banknote in the 18th and 19th centuries was decorated with a seal. In addition, to intimidate scammers, a warning about punishment was written. It took the authorities a lot of time to convince people to stop using metal coins and not switch to prehistoric natural exchange. Society was afraid of counterfeit bills.

With the outbreak of the First World War in 1914 financial position the state has deteriorated sharply. Tsarist Russia incurred large expenses. Monetary losses led to the active printing of paper money again. This was followed by the arrival of inflation. Society began to understand that paper was worthless, but gold and silver would always remain valuable. People began to hide products from precious metals. In 1915, the copper coin disappeared from use. Payment was again carried out in paper money.

In 1917, Kerenks appeared, which were of terrible quality, printed on thin paper, where there were no signs of authenticity. 20 and 40 rubles were perfectly counterfeited. They were the size of a newspaper sheet, but there was no state number or signatures on them. Thus, many fakes appeared. Compared to 1914, money output increased 84 times.

The employees who printed paper money were forced to work almost around the clock. There were no holidays or weekends for workers. People sabotaged, but this did not lead to the desired result, since the money was needed to replenish the state treasury. They opened a factory that was engaged in the procurement of raw materials for printed banknotes. The paper was formed from rags. To print in color, I had to purchase paint abroad. The payments were made from gold reserves.

In 1921, 5 and 10 thousand rubles were issued. There were already 188.5 billion rubles in circulation. There was a catastrophic shortage of small banknotes. Speculators could profit from this situation. They took money for the exchange. So, from a 100-ruble ticket, speculators made a profit of 10-15 rubles.

The lack of money led to the Russian government deciding to allow provincial cities to start issuing their own money. This is how “Siberians”, “Grubs” and other tokens of change appeared. Such money was printed in Khabarovsk, Kaluga, Baku, Yekaterinburg and other cities. Georgia did not miss the opportunity to join this project. This only led to a significant increase in prices and, as a result, to a decrease in purchasing power.

In 1922, “chervontsi” appeared. This special bill had nothing to do with the ruble. The Soviet authorities valued it at 10 gold rubles from a bygone era. Surprisingly, the “chervonets” had a positive impact on the people. Every day its exchange rate against the ruble grew.

In 1924, treasury notes appeared, banknotes for the entire USSR, issued in denominations of 1,3 and 5 rubles. They were backed by gold - 0.774234 grams. And in 1961, a monetary reform took place. 100 new rubles were equal to 1000 old rubles. Money was printed to replace the previous banknotes. In 1993-1994 after the collapse of the USSR, Russia released its national currency, completely replacing the banknotes in circulation. in continuation of the topic - .

When counting paper banknotes, rarely does anyone think about when and who invented them. It seems like they have always been there. They just looked a little different. In fact, the invention of paper money played an important role in the development of civilization and has an interesting history. Where did paper money first appear and why? This will be discussed further.

When there was no paper money. Prototypes of money

Money came to Europe from Lydia, now western Turkey, in 687 BC. To make them, they used gold and silver, which bore the imprint of the seals of local rulers. By the end of the century, this type of payment began to be used throughout Europe.

Paper money. Reasons for the appearance of paper money

The appearance of metal money had a beneficial effect on the development of trade and the economy of ancient countries. In turn, this led to the fact that part of the population began to live richer.

Merchants began to have problems with storing and transporting money. Carts had to be hired to transport them from one place to another. In addition, they needed security and a person to count them.

More and more money was needed. Constant wars did not allow obtaining the required amount of metal for minting coins.

All this caused difficulties and became prerequisites for the emergence of other means of payment.

But when and where did the first paper money appear?

China is the pioneer of paper money. Flying money

The Chinese were the first to find a way out of this situation. They came up with the idea of ​​depositing money. It was similar to the current bank.

In return, a document was issued that allowed payments to other merchants.

The guarantee of solvency was provided by the owner of the “bank”. Such receipts were of a private nature. They were called "flying money".

This happened in the 600s AD.

Introduction of paper money at the state level. Jiaozi

When and where did the first paper money appear in the world? Officially, the first state money was published in the 10th century. At this time, China was ruled by the Song Dynasty.

At first, such banknotes had a validity period and had territorial restrictions. Such money was called jiaozi.

Until 1279, there were only two types of banknote denominations - “1” and “100”.

Yuan

China's economy has taken a leading position compared to other countries. During the Yuan Dynasty, money ceased to expire. Since then they have been the main currency of this country. Now you know where the first printed paper money appeared. Banknotes began to be printed in 4 different cities of the Middle Kingdom.

This continued until the Chinese lands were conquered by the Mongols.
The circulation of yuan was suspended for 10 years. They then regained their importance, becoming the main means of payment until the 14th century, when the government lost control of the country's gold reserves, which led to the loss of the value of money.

Preference in calculations began to be given to silver and gold. Paper bills in China only became accepted again in the 19th century.

The arrival of paper money in Europe. Marco Polo on the emergence of money in China

The famous traveler Marco Polo, having visited China, brought several banknotes from there to Europe. And in his book he described that he was amazed by the presence of paper money. He said that so many banknotes have been issued that you can buy countless amounts of wealth with them. That their solvency is valid across all lands and no one has the right to refuse to accept them. The most important thing is that the piece of paper itself weighs nothing, and you can buy anything with it.

Also, if it becomes unusable, it can be exchanged

But money itself came to Europe much later.

Leiden money

This happened in 1573-74, in the Netherlands, in Leiden. The city was under blockade. During the Anglo-Spanish War, residents were in dire need of both food and money. And the burgomaster issued an order to use, instead of metal coins, money made from pressed paper on which the Catholic Bible was published.

After the liberation of the city, this money was withdrawn from use.

But to this day, there are 8 copies of Leiden coins in museums around the world.

History of the first Swiss money

The first European country to switch to paper banknotes was Switzerland. This happened in 1661.

The initiator of the issue of paper money was the founder of the first Swiss bank Johan Palmstruk.

It was money, written by hand and certified by the personal signatures and seals of bankers. There were too many of them, which caused difficulties in exchanging them for silver and gold. The government, in order to avoid a scandal, bought the bank and suspended the issue of such banknotes. The banker was sent to debtor's prison, where he ended his days.

To date, very few of these banknotes have survived; they represent a rare museum value.

The first Russian rubles. Elizaveta Petrovna's plan for new money

They study the topic of the appearance of banknotes in 2nd grade. Where did the first paper money appear? An entire lesson is devoted to this topic. It will certainly be mentioned that the idea of ​​​​introducing paper banknotes in our country was submitted by Elizaveta Petrovna (her reign was from 1741 to 1761). By that time, the country was experiencing a catastrophic lack of funds. The introduction of new banknotes would simplify financial calculations and reduce the consumption of metal for the production of coins. She did not have time to implement this project.

Decree of Peter 3

Peter 3, who replaced her in office, signed the Decree. It spoke of the creation of special banks in St. Petersburg and Moscow. Their authorized capital was 5 million rubles. The bankers' duties included issuing paper money that could be used to pay in the same way as coins.

The appearance of money under Catherine II

Only Catherine II managed to realize the plans of her predecessors in 1769. The first order for the issue of money amounted to 1 million rubles. At this time, the Russian-Turkish war was going on, requiring enormous expenses.

Banknotes in denominations of 20, 50 and 100 rubles came into use. The banknotes were of poor quality. It was rumored that they were made from royal tablecloths. Despite this, such money was in great demand. It was decided to print 5 ruble banknotes. The color of five-ruble banknotes was blue, and the color of ten-ruble notes was red.

In total, in 1797, paper money was issued in the amount of almost 18 billion rubles.

Like other countries, Russia has suffered from inflation. Too much money was printed. To defuse the situation, they decided to withdraw some of the money from circulation.

Leather money

At the beginning of the 19th century, a Russian-American company produced and put into circulation 10,000 banknotes, the total solvency of which was 42,000 rubles. They were made from seal skin and were used as money until 1862. The current numismatic value of such a banknote is equal to the price of gold equal to its weight.

Interesting fact about the life of today's money

The average lifespan of the Russian currency today ranges from two to two and a half years. According to statistics, the 5,000 ruble banknote “lives” the longest, about 4 years. And a hundred-ruble loan is only two years.

History of paper money in Japan

The first money in Japan appeared in 1600. These were receipts; they were considered as a guarantee of payment for the goods. Solvency control was carried out by priests and merchants.

The modern yen appeared in 1871. Before its approval, there were more than one and a half thousand types of banknotes, the exchange of which ended in 1879.

USA - "Continental Currency"

In 1771, as soon as the independence of the United States from Britain was declared, the second congress decided to introduce its own money.
This was necessary to strengthen the army and power. It was said that the value of money is supposedly ensured by the country's gold reserves.

Such money was called Treasury notes; people called them “Continentals.” They received this nickname because the bill said “continental currency.” The first issue of currency was estimated at $13 million.

Gradually money came to everything European countries. Things got funny.

Playing cards instead of money

In France, the governor of Canada ordered the use of playing cards as money. He certified them with his personal signature.

Despite the fact that money became symbolic, people gradually recognized its solvency and began to use it.

Reasons for rejecting new money

Europeans did not immediately accept such money. Humanity has been using metal coins for thousands of years, and it was difficult to change the idea of ​​value. Only those made of gold and silver were considered “real”. For a long time they aroused distrust among the common population, and preference was given to natural exchange.
In addition, everyone was afraid of the appearance of counterfeit bills.

It took a long time before this type of money gained recognition. The authorities had to make a lot of efforts to gain trust

The authorities' response to distrust of new money. Methods of protection

Governments came up with more and more new ways to protect money. The ink for printing money had a complex composition. They were stamped with seals, the imprint of which was difficult to fake. A warning about punishment for counterfeiting was written on the banknote.

Punishment for refusing to use paper money

China took harsh measures, including the death penalty, against those who refused to accept payment in such banknotes.

The French authorities were less harsh; such disobedience was punishable by 20 years of hard labor.

In England this was seen as treason.

In America, a fine was imposed for refusal.

Africa

Paper money appeared in African countries much later than in European, Asian or American ones. Commodity exchange was in force until the end of the 20th century. People preferred to pay with cattle, slaves, elephant bones and other products necessary for life.

Many years have passed, and humanity is still benefiting from the discovery of paper money by the Chinese. This invention went through a difficult journey, but played an important role in the development of the economy and trade.

Perhaps today we are witnessing the discovery of new money - virtual, which historians will someday write about.

249 years ago, on January 9 (December 29), 1769 (1768), Catherine II signed a manifesto № 13220 on the introduction of paper bills in Russia banknotes, this is how the first paper money appeared in the trade turnover of the Russian Empire, which existed under the name of banknotes until 1843.

Previous manifesto number № 13219 "Moscow and St. Petersburg banks" were established to exchange government notes.

Until now, the people were completely unaware of the sophisticated Latin word “assignment”, together with the object that it meant. Simply put, Rus' did not know paper money. People carried heavy copper and silver, and more or less substantial sums were usually transported in carts - a thousand rubles, for example, weighed more than sixty-two pounds; two carts were needed for transportation.

Before this, copper coins were mainly used in Russian trade. And gold and silver coins were used mainly to cover annual military and palace expenses.

In 1768, Count K.E. Sivers submitted a note to Catherine II in which he argued the necessity and benefits of introducing paper banknotes in Russia. He proposed establishing a government bank with the right to issue paper money and exchange it for specie, which would be fully backed by copper. On behalf of Catherine II, Prosecutor General Prince A.A. Vyazemsky, the manager of the state's financial affairs, prepared a detailed plan for issuing paper money. They also proposed that paper signs issued for circulation—“assignations”—be used to cover military expenses.

Beginning her reign, Catherine II understood the need for “mobility” of the currency in every sense - the lack of copper money hampered the development of the economy, and the Russian-Turkish and Russian-Polish wars that began in 1768 only increased the state’s costs.

Her overthrown husband, Peter III, planned their introduction back in 1762, but the empress herself came to this decision only in 1768. Also, it is worth mentioning such a significant step in economic policy Catherine the Great, like the ban on the free exchange of silver money for copper in 1763 - this measure was an attempt to reduce inflation.

As the main reason for the introduction of banknotes, the Manifesto of December 29, 1768 indicated the need to exchange copper coins for banknotes that were convenient for transportation. Banknotes of the first issue 1769-1786. firmly entered into Russian monetary circulation. They were not obligatory for private individuals, but for that time their exchange rate was very high - from 98 to 101 kopecks. silver for ruble banknotes, that is, they were equivalent to a silver coin.

basis money circulation before that there was a silver ruble, which played the role of a universal equivalent and was backed by the price of the metal contained in it. But the productivity of domestic mines (6-7 thousand kg of silver per year) was insufficient to meet the increased requirements for the volume of money in the economy. The banknotes were also used to finance the war with Turkey.

The backwardness of the feudal economy, based on the slave labor of serfs, numerous wars, the desire to intensively develop territories acquired during conquests and diplomatic victories - all this forced the state to additionally issue (issue) paper banknotes, often without backing in the form of real silver or copper coins.

The first issue of banknotes consisted of 10,000 pieces in denominations of 25 rubles, 5,000 pieces in denominations of 50 rubles, 3,333 pieces in denominations of 75 rubles and 2,500 pieces in denominations of 100 rubles

By order of the economic empress, the first Russian banknotes were made from old palace tablecloths and napkins, which in such an unusual way gave a second life in a new noble form, in the form of paper money.

At first, little paper money was issued and no care was taken to protect it. All banknotes, regardless of denomination, were issued on identical sheets of white paper with the same inscriptions: "Love for the Fatherland" at the top and “Acts for the benefit of onago”- at the bottom. In the center of the banknote was an uncrowned double-headed eagle with outstretched wings and a chain of the Order of St. Andrew the First-Called.
By mid-1771, craftsmen had learned to convert 25-ruble banknotes into 75-ruble banknotes, and a decision was made to stop issuing 75-ruble banknotes. To further deter counterfeiters, the death penalty was introduced for counterfeiting money.

In addition to this misfortune, another soon arose: having made sure that the people were happy to exchange awkward copper for convenient banknotes, they printed a mountain of paper money. There were not enough coins for this mountain, and for a paper ruble they began to give sixty kopecks. The deceived population went through economics universities in practice and felt inflation much earlier than they learned this learned word.

The increased issue of banknotes, which exceeded the security, led to a drop in its rate. In 1797, the government decided to withdraw part of the banknotes issued to the market; A ceremonial burning of banknotes worth 6 million rubles took place in the presence of Paul I himself. Constant wars required emergency expenses and by 1802 the total amount of banknotes rose from 151 million to 212 million rubles, which finally reduced the exchange rate of the paper ruble, the value of banknotes depreciated by a third - 1 paper ruble was regarded as 68 copper kopecks, the fall of the ruble especially intensified during Patriotic War of 1812.

In 1770, a decree was issued allowing the exchange of banknotes only for copper coins. The linking of banknotes to a copper coin led at the end of the 18th to the beginning of the 19th century to a fall in the exchange rate of the latter, the emergence of a double account for silver and banknotes (for a copper coin) and to a general disorder monetary system Russia
A decree of 1780 introduced a ban on the export of banknotes abroad.

In Crimea, Russian paper notes appeared after April 8, 1783, when Her Imperial Majesty Catherine II issued a manifesto on the annexation of Crimea, Taman and the Kuban Tatars to Russia.

But Catherine was later thanked: her portrait was placed on a hundred-ruble bill, for which people immediately nicknamed the banknote “ Katerina". (The general appearance of the banknote was used when issuing the 100-ruble Soviet banknote in 1947)

7 interesting facts about Russian banknotes

1.“Money is paper”?
The first paper money in Russia could have appeared under Elizaveta Petrovna. The Seven Years' War was going on, copper was needed primarily for casting cannons, and not for minting coins. But Elizaveta Petrovna was nevertheless dissuaded from her plan. Elizabeth’s nephew Peter III was unlucky: he had already issued a decree “On the establishment State Bank“, but three days before the opening of the bank there was a palace coup. Catherine II managed to put paper notes into circulation. White paper with watermarks was produced at the Krasnoselsk paper mill. The watermark was a letter frame that could be read against the light: at the top - “love for the Fatherland”, at the bottom - “acts for the benefit of it”, and on the sides - “State Treasury”. The corners were decorated with the coats of arms of the kingdoms: Astrakhan, Moscow, Kazan and Siberian.
2. The insidious Napoleon
Until the Patriotic War of 1812, the production of banknotes remained so simple that counterfeiting them was widely practiced. There is evidence that even the treacherous Napoleon issued counterfeit Russian banknotes. For what? I didn’t want to leave my soldiers with empty wallets in Russia in case no one gave them their goods for free. According to legend, the French hid a machine for making counterfeit banknotes in the Preobrazhenskoye cemetery in Moscow.
3. Brutovsky ruble
A cashier named Brutus signed banknotes from 1898 to 1910, including ruble banknotes. An avid gambler, Brutus lost a large sum of government money at cards in 1914, became upset and hanged himself. At the beginning of 1915, everyone in Russia indulged in gambling. Among superstitious players there is an opinion that a noose or a personal item of the hanged man brings good luck in the game. Here everyone believed that the ruble with Brutus’ signature was “lucky” and began the “hunt for the banknote.” The exchange rate of the “Brutovian ruble” increased so much that the government had to intervene.
4. Swastika
It is no secret that the cross symbol with curved ends has long been loved in Rus', until in the twentieth century it began to be used as a symbol of Nazism. In Russia, the swastika first appeared in official symbols in 1917 - when the Provisional Government issued new banknotes in denominations of 250 and 1000 rubles - they were popularly called Kerenks. On the 250-ruble banknote, the swastika was hidden in the center behind the eagle. It's interesting that on front side The banknotes also featured the Buddhist “Infinity Knot.” On the first Soviet banknotes, the swastika was also present - it was passed on, so to speak, by inheritance. Dull and ugly kerenki quickly depreciated, hyperinflation did not allow them to be used properly, so they were heated in the oven. They became popular among the people to be associated with an unnecessary piece of paper that even the last beggar on the street will not pick up.
5. Banknote for one pood of bread
1921 Famine, rampant hyperinflation of Soviet rubles. The Kyiv Natural Union “Reason and Conscience”, headed by engineer M. Kalina, issues settlement checks “tied” to the hardest currency in the famine years - “1 pood of bread”. “A ruble of labor is a pound of bread” - this inscription appeared on a paper check, which was supposed to mark the transition to socialism and the abolition of the monetary system. But not a single pood of bread was given out for the checks received. “Reason and conscience” soon disappeared.
6. Solovki
It caused a lot of indignation among knowledgeable people back side modern 500 ruble banknote. It depicts the Solovetsky Monastery, the main historical and architectural landmark of the Arkhangelsk region. But the monastery appears disfigured on the banknote. Dilapidated, without domes and crosses, this is how it was during the stay of the special purpose camp (ELEPHANT) on Solovki. In addition, geographic discrepancies are noticeable in the figure. Simply put, the artist dreamed up. For the best protection, banknotes are often updated and improved, but the unsuccessful design is not touched.
7. 5000 rubles
And on the largest modern Russian banknote of 5,000 rubles we see the city of Khabarovsk. On the front side there is a monument to the Governor-General of Eastern Siberia, Count Nikolai Nikolaevich Muravyov-Amursky. Nikolai Nikolaevich returned to us the Amur, which was then located in China. Muravyov received the title of Count of Amur for concluding the agreement. The reverse side of the bill depicts the Tsar's Bridge over the Amur, called the “Amur Miracle”. It was built incredibly quickly, and even in the conditions of the First World War, and then it became the longest bridge in the Old World. The banknote is protected from counterfeiting by micro-holes on the number “5000”, magnetic and luminescent elements, a security gray thread, watermarks, raised inscriptions, and seven stripes of microtext, but it is still counterfeited more often than other banknotes.

Once upon a time, people were just as reluctant to get used to paper money as they are today to give them up

This is what cash looked like a few centuries ago Photo: http://www.thisismoney.co.uk/

When talking about a cashless society, the first country that comes to mind is . It is this state that is most actively abandoning paper money, using other forms of electronic payments. Interestingly, several centuries ago this state was also at the forefront financial changes. In 1661, for the first time in Europe, they began to move away from minting coins and started issuing banknotes.

Editorial team of PaySpace Magazine compiled a list of countries that were the first to begin the transition to paper money. Looking ahead, let’s say that this list includes countries that are still considered leaders in financial innovation today.

China - 11th century

Copper plate for printing paper money, made between 1127 and 1279. On the right is a modern proof print made from this plate.

The first paper money was issued in China. And this happened much earlier than in Sweden. Not surprising - this is the state that is considered the birthplace of paper.

It was inconvenient for Chinese merchants to transport large sums of coins and pay with them, concluding trade deals. Paper money turned out to be lighter and more convenient than metal bars. Back then, no one could have thought that over time paper money would also become irrelevant.

The first banknotes were printed in the 11th century during the Song Dynasty. They were printed on A4 size reed sheets. And they confirmed that the merchant owned a certain amount of money.

Today, China also dictates fashion in finance. In 2018, four organizations from China made it into the top ten of the FinTech 100 ranking: Ant Financial, Baidu, Lufax and JD Finance. Mobile payments are rapidly developing in the country - more than 500 million Chinese use the Alipay service alone on a regular basis.

Sweden - 1661

Sweden 1663 (daler)

The first paper money in Europe appeared in the 17th century in Sweden. The Swedish authorities needed a loan and the head of the Stockholm Bank, instead of issuing a loan in copper coins, decided to print credit papers, which were called paper dalers.

A few years later it turned out that the state did not repay the loan to the bank and credit institution was forced to print more paper money. Which were no longer backed by precious metals. Therefore, the bank went bankrupt, and its founder and ideologist of the launch of paper money in Sweden received a life sentence.

Swedish paper money also took some time to catch on. Documents have been preserved confirming that it was not only unusual, but also unprofitable for foreign merchants to conduct payments in paper dalers.

However, Sweden was the first in Europe to find a replacement for coins. It would not be surprising if Sweden becomes the first state to find a replacement for electronic money, which is only gaining ground in the payments market.

USA - 1690

Massachusetts 1690 (20 shillings)

Paper money in the United States appeared earlier than the dollar. In 1690, the Massachusetts Colony (today Massachusetts) issued the first banknotes in denominations ranging from 2 shillings to 10 pounds. They were intended to cover the needs of the military expedition to Canada and were used primarily to pay soldiers' salaries.

Norway - 1695

Norway 1695 (20 riksdaler)

The first banknotes in Norway appeared in 1695. The right to issue paper money was received by the merchant Johan Molen, one of richest people kingdoms. His ships increasingly became targets of pirates. And being on the verge of bankruptcy, he turned to the king with a request to issue paper confirmation of his condition until the remaining ships with goods returned to the port.

These banknotes were legal tender in a small part of Norway. But they did not save the merchant from bankruptcy.

England - 1694

England 1697 (pound)

In England, banknotes appeared at the height of the war with France. The government initiated the creation of the Bank of England in order to raise funds to prepare for the next stage of battles.

The first banknotes were issued in denominations from 5 to 100 pounds and could be exchanged for gold or coins at the request of the owner of the paper. Initially, banknote denominations were applied manually to bank paper and signed by one of the bank tellers. Today this country prints.

The 18th century became a real banknote revolution in Europe. Paper money was issued by France (1701), Denmark (1713), Italy (1746), Austria (1759), Russia (1769) and other countries.

France 1707 (1000 livres)

Denmark 1713 (1/6 riksdaler)

Italy 1746 (100 lire)

Austria 1759 (10 guilders)

Russia 1769 (25 rubles)

In the old days, ordinary residents were reluctant to switch to paper money, preferring coins. Or even barter. It took time to convince people of the reliability of paper money. Likewise today, electronic and mobile wallets cause concern among most users. However, as time has shown, innovations are gradually becoming a habit and becoming the most common means of payment.