Russia 1 Ruble 1918 Han Dao Hedze Mutual Credit Society China

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Russia 1 Ruble 1918 Han Dao Hedze Mutual Credit Society China :
$186.00

Russia 1 Ruble 1918 Han Dao Hedze Mutual Credit Society China.
It was here at Han Dao Hedze station that the Mutual Credit Societywas established. Its purpose was to lend credit to businesses andindividuals in the surrounding area. Being located in such a remote forestregion, it is likely that this was the only such institution between Harbin andthe Russian border. The way the typical society, or association, worked wasas follows. To facilitate commerce among suppliers, contractors andworkers the railroad; being the owner of the land, gave the land to theassociation for the purpose of establishing a place where credit could beprovided to the stations along the line. The railroad thus provided to theinhabitants banking facilities in the midst of this roaring and boomingEnvironment. Typically the larger of these \"credit associations\" provided afull range of services including the opening of accounts current, acceptingdeposits, granting loans, and remitting money to distant places. A full rangeof these activities would usually only be found in the larger cities. It isprobable that a small station like Han Dao Hedze confined its banking toexchanging money and to making short term loans of from one to threemonths. These loans would typically be secured by movable property (inthis case lumber and finished lumber products). It is most unusual that theinstitution at Han Dao Hedze saw fit to print their own bank notes!Now, to the notes themselves. All are identical except fordenomination and color. The heading reads \"Han Dao Hedze Mutual CreditSociety\" followed by \" 1 rouble voucher\", etc. The text states that the noteis good for any purchase at the railroad station. Beneath this the name ofthe association is repeated along with the signatures of the society\'sPresident, Vice-President and Cashier. The circular red handstamp carriesthe station name in both Russian and Chinese. Colors of the notes arebrown for the one rouble, green for three rouble and blue for the five roubledenomination following typical Russian tradition. Series letters follow theRussian alphabet with \"A\" reserved for one rouble, \"b\" for three, and \"B\"for the five rouble note. The left edges of all notes show signs ofperforation, suggesting that at one time they were in booklet form, beingtorn from the book when placed into circulation. Two separate series existfor these notes, an issue of 1918 which is validated on the reverse, and anidentical issue for 1919 which is not validated. No date appears on thenotes themselves