Yes, but that was in the 'early' days. In 1922 they all formed a Union - The USSR (& "USSR" written out THIS was a naughty word I almost never found??) - at that point currency was then centeralized and made uniform.

The United States had a similar delima when the banks (and some large companies- Mines, Railroads, etc.) issued currency and the farther away from the bank you travled the less valuable the currency was (more difficult to redeem). So, the United States realized it needed a centeralized banking system.

China on the other hand was the world's worst, they had more notes than a dog has fleas! But they too finally went to a central banking system. China is a note collecters nightmare! LOL