Latvia 3 Rubli from 1919 Banknote

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Country and Pick Number: Latvia ;  RIGA (MUNICIPAL) banknote

First year of issue: 1919

Denomination and currency: 3 Rubli

Issue type: circulated

Signature(s): see the scan

Description of paper money: Banknote 1919; Light,olive green and black. Series No. M 062267

Back - Light,olive green and black.  National symbols and motives.

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After the Republic of Latvia was founded on 18 November 1918, the following currencies were in circulation: ostrubles and ostmarks, issued by the German occupational authorities, German marks, the "tsar" rubles and kopecks, "money of Duma" and "kerenkas", as well as promissory notes of several town municipalities.

On 11 December 1918 the Minister of Finance set the official conversion rate for the currencies in circulation, recognising three different foreign currencies as legal tender in Latvia. However, Latvia still had no money of its own. It was time to create its national currency.

On 22 March 1919 the Provisional Government of the Republic of Latvia empowered the Minister of Finance to issue Latvia's first banknotes: Latvian State Treasury notes and exchange notes, naming them Latvian rubles and Latvian kopecks respectively. From April 1919 to October  1922 the above notes were issued in the denominations of 1, 5, 10, 25, 50, 100 and 500 rubles, and 5, 10, 25 and 50 paper kopecks. The banknotes were designed by Latvian artists Jūlijs Madernieks, Burkards Dzenis, Vilhelms Krūmiņš, Hermanis Grīnbergs, and Rihards Zariņš. Thus the basis for a permanent Latvian monetary system was laid, although Russian and German money still also functioned as legal tender in Latvia.

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    Latvia 3 Rubli from  1919 Banknote

    Latvia 3 Rubli from 1919 Banknote

    Country and Pick Number: Latvia ;  RIGA (MUNICIPAL) banknote

    First year of issue: 1919

    Denomination and currency: 3 Rubli

    Issue type: circulated

    Signature(s): see the scan

    Description of paper money: Banknote 1919; Light,olive green and black. Series No. M 062267

    Back - Light,olive green and black.  National symbols and motives.