Where can contract military personnel get a loan? Military loan Maximum loan amount for military personnel
The First World War certainly had a significant impact on the economic structure and
life of the participating states, including the Russian Empire. From the first days of this global military confrontation, the tsarist government worked to resolve issues of ways to raise funds for military spending and the future course of state financial policy.
Together with increased taxation and the issue of paper money, government loans became one of the main methods of mobilizing government revenues. This is a system of monetary relations that arise in connection with the state’s involvement on a voluntary basis for the temporary use of free funds of legal entities and individuals on the terms of repayment and payment. In the Russian Empire, during the First World War, the tsarist government implemented six internal government loans aimed at financing military needs for a total of 8 billion rubles. nominal value. Two of them were 5%, with a subscription price of 94 per 100, for only 1 billion rubles; one - 5.5% at 99 at 100 - per 1 billion rubles. and three - 5.5% at 95 per 100 - for 6 billion rubles. The first two loans were issued for 49 years, the third for 81 years, the fourth, fifth and sixth for 10 years.
The first loan was made in October 1914. It was primarily aimed at attracting funds from joint-stock commercial banks. In general, its implementation can be considered successful - the treasury received 466 million rubles. However, the authorities failed to use this loan to reduce the volume of paper money in circulation.
The increase in war expenses prompted the tsarist government to issue a second war loan in February 1915. Although it was similar in terms of issue volume, interest rate and repayment terms to the previous one, certain difficulties arose with its implementation. Loan coverage began to depend more and more on the results of direct subscription to bonds rather than on the working capital of commercial banks.
The third government loan was issued in April 1915. The issue amount was increased to 1 billion rubles, and the interest rate was increased to 5.5% per annum. Officially, the loan was designed for 81 years, but the government guaranteed the repayment of all bonds declared for payment in May 1921. Thus, they tried to make the loan “attractive” for large entrepreneurs.
A feature of the fourth war loan (October 1915) was to attract wide sections of the population to subscribe to the bonds. For the first time, savings banks and small loan institutions took part in the implementation of the loan. There was also a fairly active propaganda campaign. Despite these measures, the government failed to achieve its goal. The loan was not fully implemented within the established time frame.
Issue of the fifth loan for 2 billion rubles. in February 1916, which received the semi-official name “Victory Loan”, was preceded by a massive campaign to popularize it among the population, especially among the peasantry. The Holy Synod and the liberal intelligentsia actively participated in propaganda and agitation.
The last loan to the tsarist government of the Russian Empire was 3 billion rubles. was implemented in October 1916. It became the most widespread during the entire period of the war. Only through savings banks 358 thousand people subscribed to the bonds. However, despite the expansion of the social circle of signatories, the share of large entrepreneurs in it has decreased. As a result, actual loan proceeds were significantly less than expected. In addition, the implementation of loans in 1916 was constantly influenced by the deteriorating economic situation in the country. All this led to the fact that in February 1917 the capacity of the money market in relation to government loans was completely exhausted.
The terms of all war loans were virtually the same, with the exception of the interest rate, the face value of the bonds and their maturity. Thus, bonds were issued to bearer and registered. The rules for the transfer of the latter from one person to another, as well as the exchange for bearer and vice versa, were determined by the Minister of Finance. Profits from the loan were forever exempt from taxation. Payment of interest on bonds is provided twice a year. Bondholders are given the right to use these securities as collateral to fulfill government contracts and supplies and ensure excise and customs payments. In terms of loan repayment periods, there is a tendency to move from long-term to short-term (10 years). In addition, when issuing the first three loans, the government provided for the right to conversion, that is, a change in the initial conditions of the government loan.
All loans were sold through public subscription to bonds in the offices and branches of the State Bank, the Treasury and other credit institutions designated by the Ministry of Finance. In particular, starting with the fourth loan, savings banks, city public banks, mutual credit societies, and other small credit institutions joined this process.
The list of commercial banks and private banking institutions that had the right to place bonds, actually during 1914-1916. Remained constant. It included from 24 to 30 banks and 5-7 banking offices. Among them there were only three institutions founded in Ukrainian provinces - the Kiev private commercial bank (loans 1914-1916), the Odessa accounting bank and the banking office "M. Ashkenazi" in Odessa (loan 1916).
In general, despite the fact that in fact the tsarist government received only 7529 million rubles from military internal loans, the rest were beneficial to it. Firstly, they reduced the negative consequences of the issue of credit notes and to a certain extent contributed to the stabilization of the money market, and secondly, they were a source of cash.
Even in the first years of Soviet power, after repelling foreign military intervention and the victorious end of the Civil War, the Soviet people took up the task of restoring the national economy of the country destroyed by the war. Then, through hard work, he successfully implemented the grandiose program developed by the Communist Party and the Soviet government to transform our country, which was backward before the revolution, into an advanced, industrial one with a developed economy.
The people worked, studied, developed a common culture, achieved the implementation of plans for the industrialization of the country, the collectivization of agriculture, and the construction of the foundations of socialism.
At the same time, being in a capitalist, hostile environment as the only socialist state in those years. The Soviet Union did not forget about the need to strengthen its defense capability, but at the same time it invariably pursued the peaceful foreign policy bequeathed by V.I. Lenin and advocated peaceful coexistence with neighboring and all other states, regardless of their state and social system.
In restoring the national economy of our country, we could only rely on our own strength. To completely transform the country, among other things, huge amounts of money were required. And they were created mainly by the all-round development of socialist production as a result of the intense, selfless labor of the entire Soviet people. No one from the outside was going to help us achieve this goal, and the Soviet Union could not agree to the usual enslaving conditions for granting loans in the capitalist world.
In those years, a new form of monetary assistance from workers to their socialist state was born to further increase the funds intended for the development of the national economy. After the transition in 1924 to a stable Soviet currency, in conditions of strengthening of the economy, a systematic, consistent issue of government loans in different years came into practice, the bonds of which were widely distributed by subscription among citizens. People, to the best of their ability, loaned part of their personal earnings to the state. They signed up for the next loans, paid in installments of up to 10 months - the issued bonds; loans for industrialization, peasant loans, loans from the Soviet five-year plans for the development of the national economy, loans for strengthening defense, etc. Achievements in the accelerated development of our country using these loans are well known.
On June 22, 1941, treacherously violating the 1939 non-aggression pact between the USSR and Germany, the latter unexpectedly, without declaring war, attacked our country. The Great Patriotic War began for the Soviet people, who, at the call of the Communist Party, stood up to defend their Motherland against the Nazi invaders. Numerous examples of mass heroism of Soviet soldiers at the fronts and partisans in territories temporarily captured by the occupiers have gone down in history. Much has been said about the unprecedented mass relocation of our plants and factories from the western regions to the deep rear in the east of the country, where the production of defense products was urgently restored, in many cases practically from scratch, often by the hands of women and teenagers. We cannot forget their selfless work in those years in agriculture, on the collective farm fields, where they replaced the men who went to the front.
The Soviet people not only sought to bring closer the day of final victory over the enemy through production work. They also provided the state with direct material assistance, contributing personal savings to the defense fund and the Red Army fund: over 4 years of war (as of May 1, 1945) more than 16,000 million rubles were received, a lot of jewelry, agricultural products, as well as warm clothes for soldiers. They made targeted contributions of money for the purchase of tanks, aircraft, and artillery units manufactured by factories. Many holders of government loan bonds handed them over to the defense fund, thereby reducing the government debt on loans, which made it possible to transfer additional funds to the country's military expenses.
Celebrating the 40th anniversary of the Victory of the Soviet Union in the Great Patriotic War, I would also like to remind you of the proven practice of government loans. Directly during the war years, they were issued under the name “State War Loans”. These massive loans, distributed by subscription, were a significant personal contribution of the working people of our country to help the state in order to bring victory over the fascist invaders closer.
Now the bonds of these loans are documentary monuments of the military history of the Soviet country, evidence of the hardest days of the war of 1941-1945. and patriotism of the Soviet people.
In 1942-1945. Four war loans were issued, each in two issues, as was established even before the war, namely:
a) winning issue at the rate of 4% per annum, mass distribution by individual subscription at enterprises, organizations and institutions, as well as among collective farmers;
b) interest output at the rate of 2% per annum, for collective farms, cooperative organizations, and fishing cooperatives.
War loans were issued in the form of bonds of various denominations, the main ones being 100-ruble bonds. 200-, 500- and 1000-rubles consisted, respectively, of two, five or ten bonds of the same series, but with two, five or ten bond numbers. For the convenience of subscription payments, 10-, 25- and 50-ruble bonds were also issued as parts of hundred-ruble bonds; they were, respectively, one-tenth, one-fourth or half of the bond (Fig. 1-7).
The table shows basic data on each issue of military loans, and the total amount of each loan is given in millions of rubles for the corresponding years (without recalculation for changes in the price scale since January 1, 1961 and without taking into account the monetary reform of 1947). The merits of the bonds are shown in denominations provided for by the resolutions on the issue of loans (see table).
Thus, the planned amounts of proceeds from four military loans were exceeded by 25.97%. The significant importance of these loans for the state budget can be more clearly understood by remembering that only direct military expenditures of the Soviet Union in 1941 -1945. amounted to 551,000 million rubles1 (at par value of those years)
The amount of war loans has increased significantly compared to pre-war times.
Thus, the state internal loan for Strengthening the Defense of the USSR in 1937, according to the Resolution of July 1, 1937, included
Table
Total for four military loans 72,000 90,700
1. Bonds were issued for a period of 20 years.
win-win and 4% issues totaling RUB 4,000 million. for 20 years from December 1, 1937. The state loan of the third five-year plan (fourth year issue) of 1941, according to the Resolution of June 2, 1941, of the win-win and 4% issues amounted to 9,500 million rubles. for 20 years from November 1, 1941, but it was actually placed for 10,945 million rubles.
To additionally attract funds from the population to the State Budget, in addition to military loans, cash and clothing lotteries were issued by the People's Commissariat of Finance of the USSR: in 1941, worth 10 rubles. (Fig. 8, a), in 1942 - 20 rubles. (Fig. 8. b), in 1943 - 25 rubles. (Fig. 8, c), in 1944 - 25 and 50 rubles. (Fig. 9, a, 9, b). The lotteries offered cash and in-kind winnings.
Four editions of these lotteries gave the state 12,100 million rubles, the total amount of winnings from them was 20% of the cost of the tickets at par.
Difficult wartime conditions forced the suspension of the provision, with minor exceptions, of annual periodic holidays to workers and employees. Legalized monetary compensation for unused vacations was also not paid, and was transferred until the end of the war to savings banks on special personal deposits. The owners of these deposits were issued a special “Certificate” with four coupons, which provided for payment after the war in four terms of the deposit itself, including income in the amount of 3% per annum of the deposit amount. A copy of the certificate in the amount of 200 rubles. shown in Fig. 10.
All these documentary monuments of the Great Patriotic War of the Soviet people occupy their place of honor in the collections of bonists.
Notes:
1. Credit and monetary system of the USSR. - M.: Finance, 1967, p. 56.
Soviet collector, 1985(23), pp.122-127
When using these materials, link to the Bonistics website required
After the Ministry of Defense of Ukraine launched a campaign in support of the civilian population of the army and navy, many posts immediately appeared in the pro-Russian segment of LiveJournal with the general message that the Ukrainian army is so poor that they say the whole country collects money for foot wraps for soldiers, and what where? They are miserable to fight with the great and mighty Russian army. The reasons why the Ukrainian army has not received sufficient funding for 23 years is a topic for another discussion, but now I want to remind everyone of the world history of military loans and various campaigns in support of the army.
Probably no one will be surprised that the institution of war bonds arose in the future United States of America, for the first time during the Revolutionary War and the next time during the Civil War between North and South, for example, 62% of the military formations of the North were financed exclusively with money raised through loans, this is to understand the possibilities of voluntarily attracting finance from the civilian population to the military budget. For the next fifty years, war loans were practiced by various states, but they really began to be issued en masse by the warring states exactly one hundred years ago, in 1914, after the outbreak of the Great War...
Another important point, if not the main one, in addition to attracting additional funds to the military budget, mass campaigns for the redemption of war bonds (collection of aid) also contribute to the rise of patriotic mood in society, giving the opportunity to all citizens of the country to join the military campaign and feel their involvement in the fighting actions.
1. So, let's start with the Russian Empire, loans were mainly spent on general collections for the military budget.
2. Loan for the needs of the fleet.
3. An abundance of shells is the key to victory!
4. Urgent train with weapons and shells.
5. In addition to general loans, campaigns were carried out to collect donations for specific tasks, for example, collecting donations for soldiers for portable baths in the trenches.
6. Collection of tobacco for soldiers.
7. Or to a home for the disabled.
8. Just to the soldier’s table for a bright holiday.
9. And in the end, to help the victims of war.
10. In Germany and Austria-Hungary, war bond issues were carried out in a more organized manner, every six months, a total of 9 issues were held, each of which was accompanied by patriotic media propaganda.
11. Money was needed for shells.
12. For Austrian submarines.
13. And for the Tyrolean riflemen.
14. Printing special war loan postage stamps is another opportunity to raise funds.
15. Best Savings Bank: War Loan!
16. With heart and hands for Vaterland!
17. Great Britain, the USA and Canada also did not refuse to attract additional funds to their military budgets.
18. Constant propagandist Uncle Sam suggests investing in Victory Bonds.
19. Scotland.
20. Americans first began selling bonds, betting on the animal-like appearance of the enemy.
21. Do you want to stop this crucifixion?
22. But the main thing has always been ammunition.
23. And patriotic feelings.
Before moving on to World War II, I want to emphasize that payments on war loans were made in all countries participating in the war, except Russia, even in hyperinflation-ridden Germany. Skipping interwar loans and bonds, let's go straight to World War II.
24. Even in the USSR, where all industry from the first days was assigned to military production, the country's leadership did not refuse to attract additional financial resources from the population.
25. From 1942 to 1945 War loans were regularly made and bonds of various denominations were issued.
26. Bond for 1000 rubles, 1944.
27. Hundred-ruble bond 1945.
28. In addition, various campaigns were carried out at factories to collect personal funds for the defense fund.
Another method of collecting financial assistance for military needs was holding cash and clothing lotteries; such lotteries were especially profitable when there was a shortage of consumer goods - a common wartime situation.
29. Samples of lottery tickets.
Another wave of ridicule was caused by actions to collect things and food for the Ukrainian army, they say they have nothing to eat, and they still want to fight with us. Such photographs caused a wave of ridicule in RuNet...
30.
31.
32.
So, let me remind you that during the war in the USSR there were also various campaigns to collect material and material assistance to the Red Army, as well as the production or financing of weapons.
33. Picking mushrooms for the front.
34. Collecting warm clothes.
35. Gifts for partisans.
36. Organization of all possible assistance to the Red Army.
37. Maly theater to the front.
38. To the pilot of the Stalingrad Front from the collective farmer of the Stakhanovets collective farm, comrade. Golovatova.
39. Have you done everything to help the front?
40. Similar campaigns took place in Germany, organized by the society Winterhilfswerk des Deutschen Volkes, abbr. WHW, "Winter Relief for the German People."
41. Funds were collected.
42. Members of the society went from house to house collecting donations in special jars.
43. One of the variants of such a jar from Berlin.
44. Food for the front was also collected.
45. And of course we were packing warm clothes.
46. And so warm things were accepted at the front.
47. In general, people help themselves!
48. Naturally, the allies also did not stand aside. British patriotic postage stamps.
President Roosevelt's speech announcing the release of the first series of war bonds, May 1941.
55. Contents of cans of Lend-Lease stew.
56. Production of stewed meat for the Soviet Union.
57. Here it is, the dream of a front-line soldier.
58. And other canned goods supplied under Lend-Lease.
Some people call modern American MRE rations “semi-edible”, but I would not be so categorical. These are really good emergency rations with a long shelf life, especially when they come as free aid.
And finally, one more fact, as of March 25, 2014, the Ukrainian army has officially managed to collect 40 million UAH. voluntary donations from individuals and legal entities, including more than 8 million UAH via SMS, decide for yourself whether this is a lot or a little...
If you have similar posters about buying war bonds or fundraising for the army, post them in the comments.
After the Ministry of Defense of Ukraine launched a campaign in support of the civilian population of the army and navy, many posts immediately appeared in the pro-Russian segment of LiveJournal with the general message that the Ukrainian army is so poor that they say the whole country collects money for foot wraps for soldiers, and what where? They are miserable to fight with the great and mighty Russian army. The reasons why the Ukrainian army has not received sufficient funding for 23 years is a topic for another discussion, but now I want to remind everyone of the world history of military loans and various campaigns in support of the army.
Probably no one will be surprised that the institution of war bonds arose in the future United States of America, for the first time during the Revolutionary War and the next time during the Civil War between North and South, for example, 62% of the military formations of the North were financed exclusively with money raised through loans, this is to understand the possibilities of voluntarily attracting finance from the civilian population to the military budget.
For the next fifty years, war loans were practiced by various states, but they really began to be issued en masse by the warring states exactly one hundred years ago, in 1914, after the outbreak of the Great War...
Another important point, if not the main one, in addition to attracting additional funds to the military budget, mass campaigns for the redemption of war bonds (collection of aid) also contribute to the rise of patriotic mood in society, giving the opportunity to all citizens of the country to join the military campaign and feel their involvement in the fighting actions.
1. So, let's start with the Russian Empire, loans were mainly spent on general collections for the military budget.
2. Loan for the needs of the fleet.
3. An abundance of shells is the key to victory!
4. Urgent train with weapons and shells.
5. In addition to general loans, campaigns were carried out to collect donations for specific tasks, for example, collecting donations for soldiers for portable baths in the trenches.
6. Collection of tobacco for soldiers.
7. Or to a home for the disabled.
8. Just to the soldier’s table for a bright holiday.
9. And in the end, to help the victims of war.
10. In Germany and Austria-Hungary, war bond issues were carried out in a more organized manner, every six months, a total of 9 issues were held, each of which was accompanied by patriotic media propaganda.
11. Money was needed for shells.
12. For Austrian submarines.
13. And for the Tyrolean riflemen.
14. Printing special war loan postage stamps is another opportunity to raise funds.
15. Best Savings Bank: War Loan!
16. With heart and hands for Vaterland!
17. Great Britain, the USA and Canada also did not refuse to attract additional funds to their military budgets.
18. Constant propagandist Uncle Sam suggests investing in Victory Bonds.
19. Scotland.
20. Americans first began selling bonds, betting on the animal-like appearance of the enemy.
21. Do you want to stop this crucifixion?
22. But the main thing has always been ammunition.
23. And patriotic feelings.
Before moving on to World War II, I want to emphasize that payments on war loans were made in all countries participating in the war, except Russia, even in hyperinflation-ridden Germany. Skipping interwar loans and bonds, let's go straight to World War II.
24. Even in the USSR, where all industry from the first days was assigned to military production, the country's leadership did not refuse to attract additional financial resources from the population.
25. From 1942 to 1945 War loans were regularly made and bonds of various denominations were issued.
26. Bond for 1000 rubles, 1944.
27. Hundred-ruble bond 1945.
28. In addition, various campaigns were carried out at factories to collect personal funds for the defense fund.
Another method of collecting financial assistance for military needs was holding cash and clothing lotteries; such lotteries were especially profitable when there was a shortage of consumer goods - a common wartime situation.
29. Samples of lottery tickets.
Another wave of ridicule was caused by actions to collect things and food for the Ukrainian army, they say they have nothing to eat, and they still want to fight with us. Such photographs caused a wave of ridicule in RuNet...
30.
31.
32.
So, let me remind you that during the war in the USSR there were also various campaigns to collect material and material assistance to the Red Army, as well as the production or financing of weapons.
33. Picking mushrooms for the front.
34. Collecting warm clothes.
35. Gifts for partisans.
36. Organization of all possible assistance to the Red Army.
37. Maly theater to the front.
38. To the pilot of the Stalingrad Front from the collective farmer of the Stakhanovets collective farm, comrade. Golovatova.
39. Have you done everything to help the front?
40. Similar campaigns took place in Germany, organized by the society Winterhilfswerk des Deutschen Volkes, abbr. WHW, "Winter Relief for the German People."
41. Funds were collected.
42. Members of the society went from house to house collecting donations in special jars.
43. One of the variants of such a jar from Berlin.
44. Food for the front was also collected.
45. And of course we were packing warm clothes.
46. And so warm things were accepted at the front.
47. In general, people help themselves!
Another wave of ridicule was caused by the message that the United States refused to provide military assistance to Ukraine and would only provide financial assistance with dry rations. It’s funny, of course, but let’s remember about American aid to the USSR under Lend-Lease. Until the end of their days, war veterans remembered the American stew, considering it the best in the world, just as many now remember the Soviet army stew with bay leaf.
55. Contents of cans of Lend-Lease stew.
56. Production of stewed meat for the Soviet Union.
57. Here it is, the dream of a front-line soldier.
58. And other canned goods supplied under Lend-Lease.
Some people call modern American MRE rations “semi-edible”, but I would not be so categorical. These are really good emergency rations with a long shelf life, especially when they come as free aid.
And finally, one more fact, as of March 25, 2014, the Ukrainian army has officially managed to collect 40 million UAH. voluntary donations from individuals and legal entities, including more than 8 million UAH via SMS, decide for yourself whether it’s a lot or a little...
If you have similar posters about buying war bonds or fundraising for the army, post them in the comments.
FIRST WORLD WAR
WAR LOAN
With the help of a war loan, the Russian government tried to attract money from both big capital and workers and peasants. Loans from 1914-1916 gave the state approximately 7 billion rubles. In those days this was a huge amount!
In order to understand how much money this was, it is worth recalling that in 1913, Russian budget expenditures were about 3 billion rubles, and the national debt was less than 9 billion.
“Sign up for a 5.5% military loan.
The more money, the more shells!"
"Everything for the war! Sign up for a 5.5% war loan."
"War 5.5% loan.
Who has loved ones in the ranks of the troops,
let him help them by buying a loan."
"Buy a 5.5% military loan.
The abundance of shells is the key to victory."
"Hurry up to buy! Military 5.5% loan
to overcome all obstacles."
Poster "War 5.5% loan".
"Whoever signs up for a 5.5% military loan will
will help our heroes destroy their enemies."
"Our cities, villages and temples are waiting
liberation from enemy invasion.
Help the army in its great cause
and sign up for a 5.5% war loan."
State short-term war loan 1916
Advertisement published in Niva magazine.
Let me remind you that all loans from the tsarist government were canceled by the Soviet government on December 1, 1917, by decree of January 21, 1918.
All materials posted here are in my personal collection. The use of any materials from the site is possible only with the written permission of the author.