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Bank Of Danzig
The Bank of Danzig (german: Bank von Danzig) was the central bank of the Free City of Danzig, established in 1924 and liquidated in the aftermath of the Danzig crisis in 1939. Overview In the immediate aftermath of World War I, a currency union was planned to complement the customs union between Danzig and the nascent Polish state. The Polish National Loan Bank, Poland's temporary central bank, opened a branch to that effect in the city-state, while the latter's monetary needs were still served by the local branch of the Reichsbank. Because of hyperinflation in both Germany and Poland, however, that project failed to come fruition and it was abandoned in September 1923. The Bank of Danzig was created under the conditions of the stabilization loan coordinated by the Economic and Financial Organization of the League of Nations in 1923–1024, based on the successful precedent of Austria a year earlier. It was established on with a capital of 7.5 million guilders, after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Danzig
The Bank of Danzig (german: Bank von Danzig) was the central bank of the Free City of Danzig, established in 1924 and liquidated in the aftermath of the Danzig crisis in 1939. Overview In the immediate aftermath of World War I, a currency union was planned to complement the customs union between Danzig and the nascent Polish state. The Polish National Loan Bank, Poland's temporary central bank, opened a branch to that effect in the city-state, while the latter's monetary needs were still served by the local branch of the Reichsbank. Because of hyperinflation in both Germany and Poland, however, that project failed to come fruition and it was abandoned in September 1923. The Bank of Danzig was created under the conditions of the stabilization loan coordinated by the Economic and Financial Organization of the League of Nations in 1923–1024, based on the successful precedent of Austria a year earlier. It was established on with a capital of 7.5 million guilders, after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic And Financial Organization Of The League Of Nations
The Economic and Financial Organization (EFO, french: Organisation économique et financière) was the largest of the technical arms of the League of Nations, and the world's first international organization dedicated to promoting economic and monetary co-operation. It took shape in the early 1920s and was in activity until the creation of the United Nations in 1945. It has been described as having had seminal influence on postwar economic institutions, notably the International Monetary Fund (IMF). Background The establishment of the EFO took place in the aftermath of unprecedented transnational cooperation initiatives among allied powers during World War I, which were also pioneering experiments in planned economy imposed by the circumstances. These included the Wheat Executive established in late 1916, and the Allied Maritime Transport Council established in late 1917. They had brought together enterprising civil servants such as Italy's Bernardo Attolico, France's Jea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hamburger Bank
The Hamburger Bank was a public credit institution founded in 1619 by the Free City of Hamburg. It operated independently until 31 December 1875, when it became part of the newly created Reichsbank. History The Hamburg City Council made the decision to create the bank in February 1619, following lengthy negotiations with its civic stakeholders. Like its model, the Amsterdamsche Wisselbank which had been founded in 1609, it was intended to improve monetary stability in uncertain times and to simplify trade between merchants. The numerous English merchant adventurers, Portuguese Sephardi Jews and Dutch religious refugees living in Hamburg at the time brought their capital and knowledge to the bank, thus contributing to its initial success. The bank was administered free of charge by two senators, two City elders (''Oberalten''), two "treasury citizens" (''Kammereibürger'') and five "bank citizens" (''Bancobürger''), namely citizens who had an account at the bank. The bank's prem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Bank Of Poland
The Narodowy Bank Polski (; the National Bank of Poland), often abbreviated to NBP, is the central bank of Poland, founded in 1945. It controls the issuing of Poland's currency, the Polish złoty. The bank is headquartered in Warsaw, and has branches in 16 major Polish cities. The NBP represents Poland in the European System of Central Banks, an EU organization. History Although the bank has existed under its current name since 1945, it is a continuation of two previous central banks, both named simply Bank of Poland (''Bank Polski''). The first one was founded in Warsaw in 1828 by Prince Franciszek Ksawery Drucki-Lubecki. An institution of the government of the Kingdom of Poland, it was entitled with issuance of the Polish currency as well as control over the credit rates. It was also entitled with a concession to operate foreign currencies and buy off credits issued by foreign companies and banks. During the Second World War the gold reserves of Poland were transferred to Rom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Invasion Of Poland
The invasion of Poland (1 September – 6 October 1939) was a joint attack on the Republic of Poland by Nazi Germany and the Soviet Union which marked the beginning of World War II. The German invasion began on 1 September 1939, one week after the signing of the Molotov–Ribbentrop Pact between Germany and the Soviet Union, and one day after the Supreme Soviet of the Soviet Union had approved the pact. The Soviets invaded Poland on 17 September. The campaign ended on 6 October with Germany and the Soviet Union dividing and annexing the whole of Poland under the terms of the German–Soviet Frontier Treaty. The invasion is also known in Poland as the September campaign ( pl, kampania wrześniowa) or 1939 defensive war ( pl, wojna obronna 1939 roku, links=no) and known in Germany as the Poland campaign (german: Überfall auf Polen, Polenfeldzug). German forces invaded Poland from the north, south, and west the morning after the Gleiwitz incident. Slovak military forces ad ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government of the United Kingdom, it is the world's eighth-oldest bank. It was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. The Bank became an independent public organisation in 1998, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. The Bank is one of eight banks authorised to issue banknotes in the United Kingdom, has a monopoly on the issue of banknotes in England and Wales, and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland. The Bank's Monetary Policy Committee has devolved responsibility for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reichsmark
The (; sign: ℛℳ; abbreviation: RM) was the currency of Germany from 1924 until 20 June 1948 in West Germany, where it was replaced with the , and until 23 June 1948 in East Germany, where it was replaced by the East German mark. The Reichsmark was subdivided into 100 s (Rpf or ℛ₰). The Mark is an ancient Germanic weight measure, traditionally a half pound, later used for several coins; whereas (''realm'' in English), comes from the official name for the German state from 1871 to 1945, . History The Reichsmark was introduced in 1924 as a permanent replacement for the Papiermark. This was necessary due to the 1920s German inflation which had reached its peak in 1923. The exchange rate between the old Papiermark and the Reichsmark was = 1012 ℳ (one trillion in American English and French, one billion in German and other European languages and British English of the time; see long and short scale). To stabilize the economy and to smooth the transition, the Papierm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Danzig Gulden
The ''Gulden'' was the currency of the Free City of Danzig between 1923 and 1939. It was divided into 100 ''Pfennige''. History Until 1923, Danzig used the German ''Papiermark'' and issued several local 'emergency notes'. Inflation during 1922–23 averaged roughly 2,440% per month. In July 1923 it was announced that a new and independent currency (the gulden) was being established with the approval of the League of Nations finance committee to replace the German mark. The gulden was introduced at a value of 25 gulden = 1 pound sterling. Incorporation into Nazi Germany Danzig, separated from Germany after World War I, was annexed by Nazi Germany on 1 September 1939, the day the invasion of Poland had begun On the same day reichsmark coins and notes were declared legal tender alongside the Danzig gulden, with 1 gulden being equal to 0.70 reichsmark. This was a favourable exchange rate for inhabitants of Danzig, since the actual exchange rate was around 0.47 reichsmark per gulden. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austrian First Republic
The First Austrian Republic (german: Erste Österreichische Republik), officially the Republic of Austria, was created after the signing of the Treaty of Saint-Germain-en-Laye on 10 September 1919—the settlement after the end of World War I which ended the Habsburg rump state of Republic of German-Austria—and ended with the establishment of the Austrofascist Federal State of Austria based upon a dictatorship of Engelbert Dollfuss and the Fatherland's Front in 1934. The Republic's constitution was enacted on 1 October 1920 and amended on 7 December 1929. The republican period was increasingly marked by violent strife between those with left-wing and right-wing views, leading to the July Revolt of 1927 and the Austrian Civil War of 1934. Foundation In September 1919, the rump state of German-Austria– now effectively reduced to the Alpine and Danubian crownlands of the Austrian Empire – was given reduced borders by the Treaty of Saint Germain, which ceded German-po ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
League Of Nations
The League of Nations (french: link=no, Société des Nations ) was the first worldwide intergovernmental organisation whose principal mission was to maintain world peace. It was founded on 10 January 1920 by the Paris Peace Conference that ended the First World War. The main organization ceased operations on 20 April 1946 but many of its components were relocated into the new United Nations. The League's primary goals were stated in its Covenant. They included preventing wars through collective security and disarmament and settling international disputes through negotiation and arbitration. Its other concerns included labour conditions, just treatment of native inhabitants, human and drug trafficking, the arms trade, global health, prisoners of war, and protection of minorities in Europe. The Covenant of the League of Nations was signed on 28 June 1919 as Part I of the Treaty of Versailles, and it became effective together with the rest of the Treaty on 10 January 1920. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hyperinflation
In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. This causes people to minimize their holdings in that currency as they usually switch to more stable foreign currencies. When measured in stable foreign currencies, prices typically remain stable. Unlike low inflation, where the process of rising prices is protracted and not generally noticeable except by studying past market prices, hyperinflation sees a rapid and continuing increase in nominal prices, the nominal cost of goods, and in the supply of currency. Typically, however, the general price level rises even more rapidly than the money supply as people try ridding themselves of the devaluing currency as quickly as possible. As this happens, the real stock of money (i.e., the amount of circulating money divided by the price level) decreases considerably.Bernholz, Peter 2003, chapter 5.3 Almost all ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Most central banks also have supervisory and regulatory powers to ensure the stability of member institutions, to prevent bank runs, and to discourage reckless or fraudulent behavior by member banks. Central banks in most developed nations are institutionally independent from political interference. Still, limited control by the executive and legislative bodies exists. Activities of central banks Functions of a central bank usually include: * Monetary policy: by setting the official interest rate and controlling the money supply; *Financial stability: acting as a government's banker and as the bankers' bank ("lender of last resort"); * Reserve management: managing a country's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
