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| The Czech “koruna” celebrates 100th birthday |
| Prag, 30.04.2019 |
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| 100 years ago the Czechoslovak Assembly decided on the name of the new republic’s currency - the koruna. Despite a variety of original proposals, the delegates ended up being rather conservative in their choice, voting for a name that had also been used for the currency of Austria-Hungary. To commemorate the date, the Czech National Bank has issued a rare collection of gold-silver coins.
In a secretive reform initiated in March 1919, Finance Minister Alois Rašín gave the order to start invalidating Austro-Hungarian banknotes and printing a new type of currency - Czechoslovak crowns.
Historian Jana Čechurová, from the Department of Czech History at Charles University, says Mr. Rašín’s decision came at the right time.
“He was very straightforward, the right man for a crisis. He came out with a brave categorical solution that separated the currency of Czechoslovakia from that of Austria-Hungary. It was a successful initiative that ended up helping the Czechoslovak economy and consequently also its society and politics.”
However, there is a twist to the seemingly straightforward story. Alois Rašín, never counted on the crown becoming the single official currency, says Czech National Bank Archivist Jakub Kunert.
“His idea was that two parallel currencies could exist in the state. On the one hand, a gold-standard Czechoslovak frank, on the other hand, fiat money in the form of the crown.”
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Address : Euro-Brew Ltd., Hlboká 22, 917 01 Trnava, Slovakia
Tel. : +421 33 53 418 53, Fax : +421 33 53 418 52, E-mail : info@eurobrew.sk |
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