Austro-Hungarian krone

1.176 kroner = 1 mark

The crown, unofficially abroad since the introduction, from 1919 to officially as "Austrian crown " means, in Austria, was the gold standard of Austria-Hungary until 1918, and the currency of the Republic of Austria from 1918 to 1925. You solved in the course of the currency reform of 1892 gulden, which was a silver currency. In everyday language we described the gold coins of 10, 20 and 100 crowns as " Gold Crown ". By 1900, the guilder ( fl ) was next to the crown (K ) valid currency, the exchange ratio was two crowns for a guilder.

In the Austrian half corresponded to 100 Heller a crown ( derived from the Greek " κορώνα " or Latin " corona " for " Crown"). In the Hungarian half of the Empire was the term " corona "; a corona corresponded to 100 Filler.

In the notes of the Austro -Hungarian Bank ( the central bank of the Dual Monarchy, it was written with a small u ) was the name of the currency on the Austrian side, as the nationalities were equally loud in December Constitution in 1867, led in other languages ​​of the monarchy ( " koruna "," corona "," corona "," krona "," kruna "," Coroana " ), according to the Hungarian side, the Magyar nationality policy, only in Hungarian.

While the banknotes were issued by the common central bank, the coinage between the Hungarian and the Austrian part of the empire was done separately. Therefore, the coins each had only symbols of that " half of the Empire " on. However, they were circulating throughout Austria - Hungary, - as now the embossed circulating in the Euro - States coins throughout the euro zone.

The determined as part of the gold standard exchange rate against the mark of the German Empire in 1912 was 1,176 crowns.

After the beginning of 1919, the Kingdom of Serbs, Croats and Slovenes separated (from 1929 Yugoslavia called ), the Czechoslovak Republic, the republican German Austria and the then also republican Hungary, the (initially) retained the crown currency by stamping their bills earlier of the common currency.

Austria 1892-1918

Collapse of the empire, successor states

Austria revealed the enormous cost of the war not by taxes (eg tax increases and / or new taxes), but " the printing press ": it printed (like the German Empire, and details here ) extra money (which caused inflation ). The common currency area broke away quickly to ( especially German Austria to the economic needs of other successor states took little consideration or could take ).

In the new South Slav state began in January 1919, stamp the crown of their own bank notes. Czechoslovakia followed in February 1919. To prevent the inflow of crown banknotes unknown origin, such as from Hungary, also German Austria had in March 1919 with the stamping of its banknotes begin. Due to the different rates of inflation in the following years, this crown currencies had very different value. Czechoslovakia maintained its Koruna, Austria had to give up in 1925.

Austria 1918-1925

The hyperinflation of the Austrian crown was unstoppable from Bathroom Private. Chancellor Ignaz Seipel took 1922 foreign aid and an internationally supervised strict austerity measures to ensure that public finances could be brought back into balance. When this was achieved, prepared the federal government Seipel I 1924, the introduction of the Schilling before. This currency reform was the National Council on 20 December 1924, one month after the resignation Seipel, decided and implemented on 1 March 1925. (In the following several months of transition time Austrian crowns were still accepted). The value of a shilling corresponded to 10,000 " Paper Crown ".