Money Issuing of Odesa City in 1917-1919
The aim of this paper is to highlight the emission of currency units issued in Odesa city in 1917-1919 during its stay under the rule of the Ukrainian People’s Republic, the Volunteer Army of General A. Denikin, and the Soviet government.
Scientific novelty. The reasons for the issuing of various types of currency units in the city of Odesa are found out, namely: financial crisis, inflationary processes, devaluation, and shortage of paper money, which began to develop rapidly in the city after the February Coup of 1917; the accent is given to the main stages and results of the emission policy of various governments and political forces ruling in Odesa until 1920.
Conclusions. It has been found out that the beginning of the emission of local city money issuing began on December 23, 1917, by the ‘Regulation on Exchange Bonds of the City of Odesa’ (‘Polozheniie o Razmennykh Biletakh Goroda Odessy’). The next period of the history of money issuing in Odesa was associated with the entry of the Volunteer Army of General A. Denikin into the city and the issuing of Ukrainian treasury notes, the so-called Denikin ‘lopatka’. It is ascertained that during its first stay in Odesa in 1918 – early 1919, the Volunteer Army issued ten series of treasury notes with a nominal value of 50 karbovantsiv. During the first stay of Soviet power in Odesa (April – June 1919), it also issued and put into circulation ten series of Ukrainian treasury notes with a nominal value of 50 karbovantsiv.
The volumes of the emission policy of the local, Denikin, and Soviet authorities in Odesa until the beginning of 1920 are quantified. So, the volume of the local emission of ‘Odesa Exchange Bonds’ (‘Razmennyi Bilet g Odessy’) is estimated by researchers to be over 230 million rubles, Denikin – over 280 million karbovantsiv, Soviet – about 480 million karbovantsiv. In total it was about 1 billion monetary units. The growth of money emission in the city of Odesa led to hyperinflationary processes and the devaluation of money.
It is proved that Odesa bonds and Ukrainian treasury notes issued in 1917-1919 continued to circulate until Denikin troops left the city in February 1920.
Artemiev, A.Yu. (2001). Denikinskie «lopatki» [Denikin’s “lopatkas”]. Kollektsioner, 36-37, 319-327 [in Russian].
Artemiev, A.Yu. (2003). «Belye» dengi. Vtoraia emissiia denikinskikh «lopatok» (24.08.1919 – 07.02.1920 gg.) [“White” money. The second issue of Denikin’s “lopatkas” (08/24/1919 – 02/07/1920)]. Kollektsioner, 38-39, 316-324 [in Russian].
Artemiev, A.Yu. (2003). Emissiia ukrainskikh «lopatok» v sovetskoi Odesse [Issue of Ukrainian “lopatkas” in Soviet Odessa]. Kollektsioner, 38-39, 307-315 [in Russian].
Brailovskii, A.M. (1922). Monografiia-katalog denezhnykh znakov Russkoi Revoliutsii. 1917-1922 [Monograph-catalogue of banknotes of the Russian Revolution. 1917-1922]. N.d. [in Russian].
Chuchin, F.G. (Ed.). (1927). Katalog bon i denznakov Rossii, SSSR, okrain i obrazovaniy (1769-1927 gg.) [Catalog of bonds and banknotes of Russia, the USSR, outskirts and formations (1769-1927)]. Moskva: Soiuzblankoizdat [in Russian].
Davydov, A.Yu. (2002). Nelegalnoe snabzhenie rossiiskogo naseleniia i vlast. 1917-1921 gg.: Meshochniki [Illegal supply of the Russian population and power. 1917-1921: Sackmen]. Sankt-Peterburg: Nauka [in Russian].
Drozdovskiy, A. (n.d.). Dengi dlia Odessy [Money for Odessa]. Retrieved from https://www.liveinternet.ru/users/ludmila-lea/post255689409/ [in Russian].
Faitelberg-Blank, V. & Savchenko, V. (2008). Odessa v epokhu voin i revoliutsiy (1914-1920) [Odessa in the era of wars and revolutions (1914-1920)]. Odessa: Optimum [in Russian].
Hai-Nyzhnyk, P.P. (2002). Kharakter i pryroda ukrainskykh paperovykh hroshovykh znakiv 1917-1921 rr. [The nature and nature of Ukrainian paper banknotes of 1917-1921]. Ekonomichnyi chasopys – ХХI, 9, 49-52 [in Ukrainian].
Hai-Nyzhnyk, P.P. (2004). Finansova polityka uriadu Ukrainskoi Derzhavy Hetmana P. Skoropadskoho (29 kvitnia – 14 hrudnia 1918 r.) [Financial Policy of the Government of the Ukrainian State of Hetman P. Skoropadsky (April 29 – December 14, 1918)]. Kyiv [in Ukrainian].
Hai-Nyzhnyk, P.P. (2005). Emisiina polityka uriadiv Ukrainy 1917-1918 rr. [Emission policy of the governments of Ukraine 1917-1918]. Ukraina ХХ st.: kultura, ideolohiia, polityka, 9, 100-125 [in Ukrainian].
Hai-Nyzhnyk, P.P. (2008). Finansova polityka Tsentralnoi Rady ta uriadiv Ukrainskoi Narodnoi Respubliky (berezen 1917 r. – kviten 1918 r.) [Financial policy of the Central Council and governments of the Ukrainian People’s Republic (March 1917 – April 1918)]. (Extended abstract of Candidate’s thesis). Kyiv [in Ukrainian].
Hai-Nyzhnyk, P.P. (2021). Ukraina: finansy i polityka (1917-1922 rr.) [Ukraine: Finance and Politics (1917-1922)]. Kyiv: Samit-knyha [in Ukrainian].
Korchenov, V. (1999). Odesskiye piat kopeek [Odessa’s five kopecks]. Vestnik, 20 (227) [in Russian].
Nikolaev, R. (2006). Banknoty rodom iz Odessy [Banknotes originally from Odessa]. Vodianoi znak, 9 (41). Retrieved from http://silver-coins.ru/banknoty-rodom-iz-odessy/ [in Russian].
Puronen, V.S. (1999). Pervye dengi goroda Odessy [The first money of the city of Odessa]. Peterburgskiy kollektsioner, 4 [in Russian].
Riabchenko, P.F. (2001). Denezhnaia yedinitsa v Ukraine v ХХ veke [Monetary unit in Ukraine in the XX century]. Mir deneg, 1-2 [in Russian].
Riabchenko, P.F. (2004). Dengi bolshikh gorodov [Big cities money]. Mir deneg, 3 (48) [in Russian].
Tkhorzhevskyi, R.Y. (1999). Narysy istorii hroshei v Ukraini [Essays on the history of money in Ukraine]. Ternopil [in Ukrainian].
Vainshtein, E. (1928). Groshi Ukrainy [Money of Ukraine]. Sovetskii kollektsioner, 4, 1-4 [in Russian].
Yurovskiy, L.N. (1928). Denezhnaia politika sovetskoi vlasti (1917-1927) [Monetary policy of the Soviet government (1917-1927)]. Moskva: Finansovoie izdatelstvo [in Russian].
This work is licensed under a Creative Commons Attribution 4.0 International License.