Thursday, May 7, 2015

Catalogue : Russia The Imperial Loans

  • Title: Russia The Imperial Loans
  • Author : A. Kulo
  • ID : ISBN 9949-10-357-6, published by International Estonian Philatelic Society (IEPS), 2004
  • Languages : English
  • Number of pages : 287
  • Images : 200 large black and white images
  • Index : no index but certificates are chronologically ordered in each chapter

In the 18th century, empress Catherine II succeeded in obtaining a foreign loan with the cooperation of the Dutch banking company Hope & Co. Thereby, Catherine managed to cover budget deficits without internal loans. Because of the wars with Turkey (1806-1812) and Sweden (1808-1809) and a rising inflation, Alexander I needed more finances and means of obtaining credit. On 2 February 1810  the government adopted 'The Financial Plan" which soon led to the introduction of internal loans.

Russian Imperial eagle 1866
Russian Imperial eagle
detail: 2e Russ. 5% Inner. Anleihe mit praemien-verloos., 1866

  • Introduction
  • Part I Dutch Loans
  • Part II Imperial Loans
  • Part III Interest Notes
  • Bibliography
  • Appendix with price guide

In this work, author, Ants Kulo gives an overview of more than 200 Russian Imperial loans. The external and internal loans from the book span the period 1769-1917. Valuations in the price guide are  expressed in USD (2003). 

A valuable addition for collectors interested in Russia's state securities and imperial history.


You migh want to read more about the Russian Imperial eagle, see here .


  1. I supported Kulo's book by a lot of images from items of my collections.
    Dr. F.D. Weber

  2. Hello Dr. F. D. Weber,
    Yes, that is correct. I have read in the book about your major contribution to this work : images, catalogue entries and research. If I may speak in name of other collectors, we are lucky that we can enjoy works like that. The publisher printed only 200 copies of the book. I don't own a copy, I borrowed it from a friend.

    Many thanks.