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In those days the Russian economy was experiencing a pressing need in paper money. Copper coins, which were the basis of monetary circulation in Russia of those days, were no longer capable of serving the growing trade turnover: merchants had to transport carriages filled with heaps of copper coins from town to town.

In 1786 the second emission of paper money was completed. The quality of banknotes of the first and second issue was low largely due to absence of the necessary technology and a single center, where the whole process cycle could be completed. Thus, banknote paper s was manufactured at the Krasnoye Selo and Tsarskoye Selo mills, while the Senate printing works printed notes.