This page has been robot translated, sorry for typos if any. Original content here.

Penny-credit systems and foreign countries - Ivanov V.M.

Theme 10. EVOLUTION OF GROSHOVO-CREDIT SYSTEMS ROSІЇ

10.1. Groshov’s system of reform in Tsarskiy Rosії

In Russia from 1769 to 1895 p. Having cleared the Papier-Groshovy, it was overwhelming the Inflationary Obig. Lisha pislya reform Kankrina from 1839-1843 rr. currency (want for a short period - up to 1853 p.) went into stability. For the sake of reform in Russia, the reform was offset by the devaluation of the Russian ruble and the establishment of urgent monometallism. A penny unit, becoming the average ruble and the second in the same spool, 2.1 parts of the net ruble. Asignatsі become auxiliary signs with a rate of 3 rubles. 50 kopecks for 1 ruble on average. At 1841 p. new signs have been boldly issued - credit bills and nominal rate 50 rubles. - rozmіnnі on srіblo.

The other half of the XIX century. Development of industrial capital in Russia and the Tsar’s regiment to distribute reorganization of a penny system, so that you can switch to a gold mono-metal system. One of the main visits of the Tsar’s detachment in the preparation of the Groshovo reform was the delivery of gold reserves (it was strengthened from 1881 - 1897 rubles). By using this method, we’ve got used to come out for better export of high-quality products for the cordon (more often than not, from the rest of the system, we’ll prompt you to renew your rates and book them more quickly).

At rocky, I’ve gotten a ride to the Ministry of Finance S.Vitte and the politics has been updated by the hot Grids to get to Russia as much as the foreign capitals and deny the poems behind the cordon. Tilki in the years 1887-1897 The Bulo was dismissed by the sovereign posy for the cordon to the sum of 1,050 million rubles.

Sukupnost tsikh zhidіva sprya to the fact that at 1 sichna 1896 p. Gold Fund of Rosії becoming 963.8 million rubles. against 366.5 million rubles. for 1 year

1886 p.

The piling up of gold reserves in such a great number gave the zmogu the opportunity to go over to the system of gold monometallism, which was discovered in 1895-1897. heir to the reform carried out by the Minister of Finance S.Vitte. The transition to a new penny system has signaled a new era for the penny bill of the Russian Empire.

The result of the reform of 1895 p. Operations with gold were allowed, after having issued a payment of pivіmperial - a 5-ruble gold coin of 7 rubles each. 50 kopecks leather and imperial - a 10-ruble coin, which would have been recognized as devaluation of a penny for a third.

At 1897 p. Razmіnas rozmіn credit bіletіv for gold. Golden ruble Mistiv 0.774234 g of pure gold. Bulo established rules for credit bills issued by the State Bank . With a new statute, the sovereign bank of the Mav has the right to issue credit cards with gold in the hands of rosemaries, suvoro obmeshchennym with impudent needs of a penny obigu: up to 600 million rubles. tinkered with gold no less than half; credit billet ponad 600 million rubles. guilty boules are guaranteed to be 100% gold. Srіbna coin Bula is molded to the additional. Vipusk srіbnoї coins vstanovlyuvavsya in rosmir 3 rubles. per capita population.

By decree vid 29 sickle 1897 p. Bulo installed system emisi bankіvskih bіletіv Derzhbank. By this law, the bank kept the gold reserves of the State Bank.

At the whole Groshov’s reform, the progression of the ball is progressive, the fragments of the reserve have made a transition to the gold standard and have stabilized a groshy system. The water hour should mean that the Groshov’s system of the Rosіy Bula has been stimulated irrationally.

Z 1897 to 1914 p. right in Russia, it’s not a bullet of banknote paper, but a book of gold certificates. Derzhbank actually de facto may not know how much is right. Banknotes, which were blaspheming, behind a vignette of 1906-1907 rubles, were shaved by the apparent gold fund 100% lower. Tiles for two rocky years in full of the Russian-Japanese war, and especially as a result of the revolution, the order of retaliation buv zbіlshiti the number of banknotes in obigu and gold pokrittya fell lower

100 %.

About the irrational nature of the buddy’s penny system and the quality of the pitoma carriage for gold, it’s broken with credit bills, but it’s unproductive vitrati. In addition, the Derzhbank of Reprisals Holding buv utrimuvati is unproductive ponad milyardny reserve of gold for securing an equally small number of credit bills for the year. Tse also dodatkovo zbіlshuvalo vitrati obigu, since yak kraїna vіdchuvala gostra instability in capitals. Such is the groshova system of a bull that is expensive and non-elastic.

Negative evidence of a bula of the same temporal lobe of the pitoma of the vagina in relation to a coin is 10%. On 1 September 1901 p. 232,7 mln rub. Vipuskayuchi in obig ob taku great kіlkіst sіrbla, the Tsar’s detachment wanted to immobilize obig gold, save the gold reserve of Derzhbank, and also keep the income to the skarbnitsі. Ask the government to let the yakomoga out of the way to the big number of times (but the norm of the average number of times gave the zmog to let out 400 million rubles more) I didn’t have enough time. Срібна coin for healthy payments in the bullion vkray untwisted. And the fragments in the distribution of circulation and for small and medium-sized payments in the amount of money have been paid more often, then a bad deal has been made louder and uninhabited.

To the Groshov system of the Russian Federation for Reform, it is possible to characterize a system of gold monometallism and gold certification and a minimum amount of money. On 1 September 1914 p. Groshov’s masa became obsolete (more than one million rubles and more than one hundred rubles) [41, p. 143]:

• credit bills - 1665 (65.2);

• gold coins - 494 (19.3);

• average coins - 226 (8.8);

• middle coins - 18 (0.7);

• treasury bills - 150 (6). At once: 2553 (100).