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10 Dollars 6% Obligation

发行方 Mongolian Government Treasury
年份 1921
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面值 10 Dollars
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背面描述 Central underprint vignette of a sheep grazing in a pastoral setting, rendered in pale intaglio tones. The background is filled with dense Mongolian traditional script text printed in red, covering the entirety of both left and right panels. A rectangular official stamp is applied at upper centre, and a decorative interlaced knot ornament appears at upper left. Trilingual redemption text in Mongolian script, English, and Russian Cyrillic is printed along the lower margin.
背面铭文 ᠡᠨᠡᠬᠦ ᠪᠠᠭ᠎ᠠ ᠪᠣᠯᠵᠣᠭᠠᠲᠤ ᠪᠠᠲᠤᠯᠠᠭᠠᠨ ᠤ ᠲᠡᠮᠳᠡᠭ ᠪᠣᠯᠪᠠᠰᠤ ᠠᠯᠢᠪᠠ ᠠᠯᠪᠠᠨ ᠤ ᠭᠠᠵᠠᠷ ᠤᠳ ᠲᠤ ᠪᠡᠯᠡᠨ ᠮᠥᠩᠭᠥᠨ ᠦ ᠵᠦᠢᠯ ᠲᠡᠢ ᠠᠳᠠᠯᠢ᠂ ᠲᠣᠭᠠᠨ ᠤ ᠶᠣᠰᠣᠭᠠᠷ ᠠᠪᠤᠮᠤᠢ᠃ ᠪᠠᠲᠤᠯᠠᠭᠠᠨ ᠤ ᠲᠡᠮᠳᠡᠭ ᠢ ᠡᠨᠡ ᠣᠨ᠂ ᠠᠷᠪᠠᠨ ᠰᠠᠷ᠎ᠠ ᠶᠢᠨ ᠬᠣᠷᠢᠨ ᠠᠴᠠ ᠡᠬᠢᠯᠡᠨ ᠰᠠᠩ ᠤᠨ ᠶᠠᠮᠤᠨ ᠢᠶᠠᠨ ᠪᠦᠯᠢᠶᠡᠬᠡᠨ ᠮᠥᠩᠭᠥᠨ ᠦ ᠵᠦᠢᠯ ᠢᠶᠡᠷ ᠰᠣᠯᠢᠭᠤᠯᠤᠨ ᠬᠤᠷᠢᠶᠠᠮᠤᠢ ᠬᠡᠮᠡᠬᠦ ᠪᠣᠯᠵᠣᠨ ᠳᠣᠣᠷ᠎ᠠ ᠦᠯᠦ ᠲᠤᠰᠢᠶᠠᠭᠰᠠᠨ ᠲᠡᠮᠳᠡᠭ ᠢ ᠳᠠᠷᠤᠭ᠎ᠠ ᠪᠣᠯᠬᠤ ᠲᠠᠪᠤᠨ ᠵᠢᠯ ᠳᠣᠲᠣᠷ᠎ᠠ ᠰᠣᠯᠢᠭᠤᠯᠵᠤ ᠪᠣᠯᠬᠤ ᠠᠴᠠ ᠭᠠᠳᠠᠨ᠎ᠠ ᠬᠡᠷᠪᠡ ᠮᠥᠩᠬᠦᠦ ᠴᠠᠭ ᠲᠤ ᠰᠤᠯᠢᠵᠤ ᠦᠯᠦ ᠴᠢᠳᠠᠭᠰᠠᠨ ᠲᠡᠮᠳᠡᠭ ᠪᠣᠯᠬᠤ ᠠᠪᠠᠰᠤ ᠬᠡᠷᠡᠭᠰᠡᠬᠦ ᠦᠭᠡᠢ ᠪᠣᠯᠤᠮᠤᠢ᠃ ᠪᠠᠲᠤᠯᠠᠭᠠᠨ ᠤ ᠲᠡᠮᠳᠡᠭ ᠢ ᠪᠠᠷᠢᠭᠴᠢᠳ ᠲᠤ ᠠᠷᠪᠠᠨ ᠶᠠᠩᠴᠢᠶᠠᠨ ᠲᠤᠲᠤᠮ ᠠᠴᠠ ᠨᠢᠭᠡ ᠵᠢᠯ ᠳᠣᠣᠷ᠎ᠠ ᠵᠢᠷᠭᠤᠭᠠᠨ ᠶᠠᠩᠴᠢᠶᠠᠨ ᠤ ᠬᠡᠦ ᠦᠷᠡᠵᠢᠭᠦᠯᠦᠨ ᠠᠰᠢᠭ ᠪᠣᠯᠭᠠᠮᠤᠢ᠃ ᠬᠡᠮᠡᠭᠰᠡᠨ ᠠᠰᠢᠭ ᠢ ᠰᠠᠷ᠎ᠠ ᠳᠠᠷᠠᠭᠠᠯᠠᠨ ᠥᠩᠭᠡᠷᠡᠭᠡᠭᠰᠡᠨ ᠰᠠᠷ᠎ᠠ ᠪᠦᠷᠢ ᠪᠣᠳᠣᠵᠤ ᠬᠠᠷᠢᠨ ᠲᠡᠮᠳᠡᠭ ᠭᠠᠷᠤᠭᠰᠠᠨ ᠠᠴᠠ ᠡᠬᠢᠯᠡᠨ ᠨᠢᠭᠡᠨ ᠵᠢᠯ ᠦᠨ ᠬᠦ ᠡᠴᠡ ᠬᠡᠲᠦᠷᠡᠭᠦᠯᠬᠦ ᠦᠭᠡᠢ ᠪᠡᠷ ᠣᠯᠭᠤᠮᠤᠢ᠃ ᠡᠨᠡᠬᠦ ᠬᠡᠦ ᠪᠣᠯᠪᠠᠰᠤ ᠪᠠᠲᠤᠯᠠᠭᠠᠨ ᠤ ᠲᠡᠮᠳᠡᠭ ᠢ ᠪᠡᠯᠡᠨ ᠮᠥᠩᠭᠥ ᠵᠦᠢᠯ ᠢᠶᠡᠷ ᠰᠣᠯᠢᠭᠤᠯᠬᠤ ᠶᠢᠨ ᠴᠠᠭ ᠲᠤ ᠬᠠᠮᠲᠤ ᠪᠠᠷ ᠰᠠᠩ ᠤᠨ ᠶᠠᠮᠤᠨ ᠠᠴᠠ ᠭᠦᠢᠴᠡᠳᠭᠡᠨ ᠲᠥᠯᠮᠣᠢ᠃ Payable to the bearer on demand in local currency on or after november 20-th 1921. Срокъ обмѣна на наличную валюту 20 ноября 1921 г.
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Mongolia's 1921 independence government faced an immediate practical problem: it had no functioning monetary infrastructure and no established currency. These Treasury obligations were denominated in dollars rather than any Mongolian unit precisely because the dollar carried credibility that a new and internationally unrecognized administration could not manufacture on its own. The 6% interest-bearing structure reflects an attempt to make the notes attractive as instruments of debt rather than simple currency — closer to a war bond than a banknote.

The American Bank Note Company contract is the most telling detail here. Engaging a New York printer required hard-currency payment arranged at considerable remove, almost certainly facilitated through Chinese or Russian intermediary channels during an extraordinarily turbulent moment in Mongolian political history.

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