Decree on Confiscation of Capital Stock of Private Banks

Written: February 8, 1918
First Published: Sobranie Uzakonenii i Rasporiazhenii Rabochego i Krestianskogo Pravitelstva, 1918, No. 19, pp. 286-87.
Source: James Bunyan and H.H. Fisher, The Bolshevik revolution, 1917-1918: Documents and materials, Stanford University Press; London: H. Milford, Oxford University Press, 1934, p. 601.
Translated: Emanuel Aronsberg
Transcription/Markup: Zdravko Saveski
Online Version: 2017

1. Capital stocks which belonged to private banks are hereby transferred without reserve to the State Bank of the Russian Republic.

2. All bank shares are annulled and all payment of dividends is absolutely discontinued.

3. Present holders of bank shares are to deliver these shares to the local branches of the State Bank.

4. Owners of bank shares who do not have their shares on hand are to submit ..... memoranda indicating the exact place where these shares may be found.

5. Owners of bank shares who fail to deliver their shares or to submit memoranda within two weeks from the day of publication of this decree will have all their property confiscated.

6. All transactions and transfers of bank shares are absolutely forbidden. Those guilty of such acts will be punished by three years imprisonment.


President of the Sovnarkom