As early as the first half of the 18th century, a voiced coin was the only means of payment in Russia. Only during the reign of Elizabeth Petrovna did the idea for the introduction of paper money first arise. However, this idea was considered absurd for a long time, since it was believed that the "pieces of paper" were not able to replace full-fledged money. As a result, paper bills appeared in Russia only under Empress Catherine II.
From the history of paper money in Russia
In the early 60s of the XVIII century, the Russian state was faced with financial problems. The treasury was empty and required replenishment. For this reason, the question arose of the introduction of paper notes, which to some extent could compensate for the shortage of metal money. Paper treasury bills were already prepared under Peter III, but for various reasons, monetary reform was delayed.
After the accession to the throne of Empress Catherine II, a manifesto was published, which spoke about the creation of two banking institutions in St. Petersburg and Moscow. Their functions, inter alia, included the exchange of traditional copper money for state paper bills. It was supposed to issue paper money in denominations of 25, 50, 75 and 100 full rubles.
