Croatia adopted the Euro as its national currency on the 1st of January of this year, and we are celebrating this historical event with a throwback to old currencies not in use anymore!
We start, obviously, with the Croatian assignats. In the Austrian Empire, in 1848 Josip Jelačić was appointed Ban of Croatia, and he issued a combination of coins and banknotes during his time as ruler. Since the 16th century Croatia has been part of Habsburg Monarchy, but the Croatian Parliament was also active during most of that entire period. It was the Parliament that authorized Josip Jelačić to raise a million florin loan in 1848. Then, as a pledge, these assignats were printed. It was the first Croatian paper money, printed during the revolutionary year 1848, and it represents money that is unique to the financial organisation of the country. [pics 01-02]
The Habsburg Monarchy was transformed into Austro-Hungarian Monarchy 1867. The florin remained the official currency in Croatia until 1892, when it was replaced by the kruna (crown). One kruna coin minted in 1895 depicted emperor Francis Joseph, and it is significant for Croatian history. Namely, that is the year of emperor's last visit to Croatian capital Zagreb. On that occasion, he opened a number of important institutions, including the Croatian National Theater in Zagreb. [pic 03]
In 1929, the Kingdom of Serbs, Croats and Slovenes became the Kingdom of Yugoslavia, with the dinar as the official currency. A decade later, the Nazi threat looming over Europe did not spare the Kingdom of Yugoslavia either. After the April War of 1941, the Karađorđević royal family and part of the political elite migrated. Nevertheless, Yugoslavia continued to exist under German occupation: the one hundred dinar banknote printed on May 1st 1941 is a testament to that. [pic 04-05]
There were political changes in the vortex of the Second World War. One of them is the founding of the Independent State of Croatia on the 10th April 1941, during the April War. Because in the Croatian medieval kingdom and Croatian lands martens („kuna“ in Croatian) fur was used as a means of tax payment, it was decided that new state´s currency will be named kuna. It is interesting that between 1941 and 1945, the Partisan authorities issued 35 banknotes on which value was expressed in kuna and dinars [pic 06]
Alongside the kuna, a banknote named banica was also used, which denoted a hundreth part of a kuna. Banica was Croatian vernacular name for the Austrian 10 kreutzers coin, and its name creates a link with the "Ban", the title of local rulers or office holders used since the 12th century, key figures throughout Croatian history. This fifty banica banknote dates back to 1942 [pics 07-08]
Geopolitical and economic instability were at the heart of the Independent State of Croatia, and this is reflected on its currency. Only two years after the establishment of the kuna and the printing of the 50 kuna banknotes, in September 1943 a 5000 kuna banknote was printed, a sign of very high inflation. [pics 09-10]
The Socialist Federal Republic of Yugoslavia was founded in 1945, and its official currency was the dinar again. The ten dinar banknote [pics 11-12], printed in 1981, carries the image of a factory worker. It was thought for decades that the man on the banknote was Alija Sirotanović, the legendary miner who broke the world record for coal mining (152 tons of coal in a single 8-hour shift), and who allegedly asked President Tito for a bigger shovel as a reward for this. However, recent research has revealed that the banknote actually features the image of Arif Heralić, a Roma metal worker from Zemun, now a suburb of Belgrade, who had a tragic fate, struggling with mental illness and alcoholism, and dying in extreme poverty in 1971. In order to encourage the cult of prosperity and the idea that work brings happiness, the authorities encouraged the belief that the banknote featured Sirotanović (who is also the face on the 20000 dinar banknote from 1987)
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Spain was part of the first group of countries to adopt the Euro in 2002. Before this date, the Spanish currency was the peseta, which lasted for 134 years. The peseta was established on the 19th October 1868 by the Provisional Government set in place after the otherthrow of Queen Isabel II. The Glorious Revolution brought about 6 years of democratic government (the Sexenio Democrático), during which all coin production was also centralised under the Mint in Madrid. But even though the monarchic power was soon reinstalled through a coup d'État carried out by the son of Isabel, the peseta lasted much longer! The Archivo Histórico Nacional holds the original reports explaining the new monetary system linked to the Peseta (which replaced the escudo), available here [pic 13]
Here are also some old pesetas from El Banco de España [pics 14-17] - a full collection is available here
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Monedas Republicanas (Republican coins) from the Archivo Histórico Nacional [pic 18-19]! This is a collection of 495 pesetas delivered by archivist and librarian Miguel Gómez del Campillo (one of the most important directors of the Archivo) on the 28th of June 1939, right after the end of the Civil War and the defeat of the Republican Front, at the Bank of Spain - the full collection is available here
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France was also in the first group of countries to adopt the euro - the franc stopped being the official currency of the country after a whopping 663 years in service (apart from a parenthesis between 1641 and 1795, when King Louis XIII replaced it with the ecu and the Louis d'Or, but the name franc remained in common usage - and technically after 1960, when it eas re-born as the "new" franc). The franc [pic 20] was introduced by Jean Le Bon, John II of France, to pay for his ransom during the Hundred Year war against England. You can read the whole story on the blog of France Archives. The Archives départementales de la Côte-d'or hold one of the first mentions of the franc d'or ever, from 1371-73: "Composition de 1 franc d'or payée par Nicolas Poncet, pour une rixe avec le maître des écoles" (1 franc d'or paid by Nicolas Poncet, for a brawl with a schoolmaster), at this link
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We end our exhibition on a very high and important note: this is Empress Maria Theresa's royal decree of the 17th August 1763, on the exchange rate of silver and gold coins and on the purchase of silver coins [Pics 21-23]. The decree helped the Austro-Hungarian Empire to recover from the costs of the Seven Years' War, which had ended in February that year. The document is in German and it was issued in Vienna. The Royal Chancellery recorded the important royal decisions in the so-called Royal Books (Libri Regii). The records of the Royal Books were kept between 1527 and 1918, during the time of the Habsburg rulers. The text of this financial decree appeared in Volume 46 of the Royal Books, the beginning of it is marked with number 199 within the page.
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