一战前后俄国(苏联)的卢布发行与流通

On Issue and Circulation of Ruble in Russia after the World War Ⅰ

一战前后是俄国货币发行史上最独特的时期,这一时期的货币发行有两个主要特点:一是卢布发行繁多,前后有数十种卢布进入流通领域,造成金融市场的混乱;二是由于过度发行,卢布币值由稳定进入一个急速贬值的阶段。十月革命后新生的苏维埃政权面对复杂的金融环境,对于币制改革问题经过了长时间的探索,最终实行了以发行切尔文劵为核心的币制改革,基本上实现了稳定币制的目标。

The period before and after world war I is the most unique period in the history of currency issue in Russia.There are two main characteristics of currency issue during this period:the first is that ruble’s issue is too chaos with more than ten kinds of ruble in field of circulation;the second is that its currency value enters a phase of rapid depreciation from the relatively stable one due to its overissue.After the October Revolution,the newly-born Soviet regime faces the complex financial environment.After a long time of exploration on the issue of currency system reform,the Soviet union finally implements the currency system reform by mainly issuing Chelwen bond,and basically achieves the goal of stabilizing the currency system.