Although we sometimes tend to think of Russia as something different from other European countries in the 18th century, Empress Catherine II had the same problem faced by the other rulers: there was never enough money to run the State.
One method in 1769 that meant to solve the endless fiscal problems was to issue assignats (paper money). As with all such actions, however, the value of the assignats, in terms of gold and silver, began to erode and by the 1780s there was a virtual paper-money régime in place throughout the country.
Once the paper currency was a fact of public life, intense discussions were held at the highest levels in order to provide the proper metallic backing for the assignats. One odd suggestion of 1769 which quickly gained official interest was to strike a copper ruble, weighing about a kilogram (2.2 pounds). The idea had actually been suggested as early as 1762 during the time of Peter III but his idea was for rubles and half rubles on the copper 32-ruble standard, not the heavier 16-ruble weight adopted after his fall from power in June 1762.
Unlike later views, which insisted on gold or silver, the Russian government in the 18th century thought that copper coins were the proper
