The bond might be related to the financial instruments issued in the late 19th and early 20th centuries, when the South Caucasus region, was part of the Russian Empire. During this time, Baku experienced rapid growth due to the oil boom.
The presence of an Armenian inscription on a bond issued in Baku in 1899 could be indicative of the diverse and multicultural nature of the city at that time.
Armenian merchants, financiers, and businesspeople played a significant role in the economic and social life of Baku and other cities in the region.
Many Armenians were involved in various industries, including the burgeoning oil business, and they were an integral part of the thriving urban landscape.
The bond mentioned was likely a financial instrument used by companies or the local government to raise funds for various projects, and the Armenian inscription might have been included to appeal to Armenian investors or as a reflection of the multicultural population.
This example highlights the complex and interconnected nature of the region’s history and the importance of understanding the diverse cultural and economic dynamics that shaped it.