Short-term treasury bills issued by the Democratic Republic of Georgia

Short-term treasury bills were issued by the Ministry of Finance of the First Republic of Georgia to cover military and administrative expenses incurred during the Armenian-Georgian War.

Background

Since October 1918, local military clashes between the Armenian Army and the Georgian Armed Forces escalated into a large-scale war on December 6. On December 6, 1918, the armed forces of the Republic of Armenia illegally crossed the southeastern border of Georgia and occupied the Lori Province, followed by the occupation of the southern part of Borchalo district. The Georgian government gave an appropriate military response to this action.

During the Armenian-Georgian War, which lasted from December 6 to 31, 1918, the Georgian government did not take advantage of covering its own military expenses by the issue of Transcaucasian bonds. Instead of issuing bonds of the Transcaucasian Democratic Federative Republic, the Georgian government set the goal to issue it's own short-term treasury bills.

On December 18, 1918, a meeting on the issue of state treasury bonds was held in the Parliament of Georgia, the final stage of which took place on December 20, 1918, on this day the final decision was made to issue short-term securities.

Short Term Treasury Bills of 1918

In total, the Ministry of Finance issued 50 million rubles value securities with denominations: 25-Rubles, 100-Rubles, 500-Rubles, 1000-Rubles and 5000-Rubles.

The distribution of the said securities was as follows:

1. 5000-Rubles denomination bills were issued of 5 million rubles amount.
2. 1000-Rubles denomination bills were issued of 10 million rubles amount.
3. 500-Rubles denomination bills were issued of 10 million rubles amount.
4. 100-Rubles denomination bills were issued of 15 million rubles amount.
5. 25-Rubles denomination bills were issued of 10 million Rubles amount.

External links

• Nikolozi Sepiashvili - "Democratic Republic of Georgia - Ministry of Finance of the First Republic of Georgia, the first issue of Georgian banknotes in 1918-1921", National Archives of Georgia, Tbilisi, 2018.