Bankcettel , sometimes a bankacetal or a ticket from the Vienna City Bank ( German: Bancozettel or Banco-zettel , literally translated as “bank ticket”) - the first Austrian paper money issued in 1762-1811 [1] [2] .
The bankcettel issue was launched due to lack of money caused by the Seven Years War . Formally, the bank-holder was interest-free bonds , but in fact they balanced between bonds and treasury bills, since they could also be used as a means of payment [3] .
Issuing bankcettel produced Vienna City Bank ( German: Wiener Stadt Banco ). The first issue of banknoters in the amount of 12 million guilders consisted of banknotes in denominations of 5, 10, 25, 50 and 100 guilders. Issues of 1771, 1784 and 1796 were supplemented by banknotes of 500 and 1000 guilders.
Initially, bank-lozenges were used only by rather wealthy people, since a minimum denomination bill (5 guilders) corresponded to the monthly subsistence minimum of a family of four. The issue of 1800 was supplemented by banknotes of small denominations - in 1 and 2 guilders.
The design of notes gradually changed. Watermark appeared on the cans of 1784 release. Tickets issued in 1806, issued in denominations of 5, 10, 25, 50, 100 and 500 guilders, were double-sided. On both sides of the banknotes of this issue, the denomination, except for German (in guilders, gulden ), was also indicated in other languages of the empire: Hungarian - in forints ( Czech ), Czech - in gold ( zlaty ), Polish - in market ( ryński ), Italian - in florins ( fiorino ) [4] . A new security element also appeared on the banknotes of this issue - repetition of the image of the front side on the reverse side in a simplified form in mirror image. When considering banknotes for light, both images are combined with an accuracy of 0.3 mm.
The number of bankocells in circulation was constantly increasing. Their outstanding amount increased from 44 million guilders in 1796 to 942 million guilders in 1810. Initially, the cost of bank-loaders fell compared with the cost of metallic money periodically. Excessive emissions during the Napoleonic Wars led to a significant depreciation. In 1799, for 100 guilders, bank-lozers gave 92 guilders with silver coins, in 1810 the cost of bank-lozers was only 15% of their face value, and in 1813 1 guilder with coins was equal to 13 guilders-bank-lozers. Bankocettelles, in accordance with the law of Copernicus – Gresham , supplanted silver and copper coins from circulation [5] .
In 1811, instead of the depreciated bank-loaders, the issue of new money began - redemption tickets ( German: Einlösungsschein ). The exchange of banknoters for new money was carried out in a ratio of 5: 1. The bankcettelles were finally withdrawn from circulation in 1816.
Notes
- ↑ CH, 1993 , Bancocettel .
- ↑ NS, 1980 , Bancocetli .
- ↑ Shustek, 2010 , p. 86.
- ↑ Cuhaj, 2008 , pp. 76-79.
- ↑ Zeit der Gründung und des Provisoriums Archived July 2, 2014. , website of the National Bank of Austria
Literature
- Numismatic Dictionary / [Author: Zvarich VV ]. - 4th ed .. - Lviv: Higher school, 1980.
- Dictionary of numismatists / [Authors: Fengler H., Girow G., Unger V.] / Per. with him. M. G. Arsenyeva / Resp. ed. V.M. Potin. - 2nd ed., Revised. and additional .. - M .: Radio and communications, 1993. - ISBN 5-256-00317-8 .
- Shustek Z. Paper money of the Habsburg monarchy // Bank Bulletin. - 2010. - No. 7 (480) . - S. 86-90 . - ISSN 2071-8896 .
- Cuhaj GS Standard Catalog of World Paper Money. General Issues 1368-1960. - 12th ed. - Iola: Krause Publications, 2008 .-- 1223 p. - ISBN 978-0-89689-730-4 .