100th anniversary of Władysław Grabski's currency reform - a new Poczta Poczta Stamp
On the occasion of the anniversary of the centenary of the currency reform of Władysław Grabski, on January 30, Poczta Polska issued an occasional postage stamp. Monetary reform, introduced by Władysław Grabski (1874–1938), an outstanding economist, premiere of the government of the Second Polish Republic and the Minister of the Treasury is an extremely important event in the history of the Polish economy.
The stamp, by Jarosław Ochaddzan, shows a photographic portrait of Władysław Grabski and a bilon with a denomination of PLN 1. The broadcast is accompanied by an envelope on the first day of circulation (FDC), on which a stylized photo of the State Bank building was placed on Bielańska Street in Warsaw from 1908.
After regaining independence in 1918, Poland faced the challenge of joining lands with various economic, legal and cultural systems. The unification of these areas, not only politically, but also economically, was a huge challenge. At the beginning of independence, at least four currencies were used in Poland, which complicated the economic situation. Russian rubles, German brands, Austrian crowns and Polish brands had various courses and purchasing power. In addition, Poland was struggling with an excessive budget deficit that drives inflation. Consequently, in 1923 there was hyperinflation, which caused a wave of strikes and an increase in social unrest.
In response to a difficult situation, the government appointed by Władysław Grabski decided to reforms to repair the treasure and stabilize the currency. Thanks to special powers of attorney, functioning as presidential decrees, a number of significant changes were introduced. The current Polish brand was liquidated, replacing it with a new currency called Złoty Polski. The zloty course was equal to the Swiss franc course. An extraordinary property tax was introduced, replacing the current inflationary tax and "ordinary" taxes, such as income and income. Grabski then liquidated the Polish National Loan Fund (founded in 1916), and in its place was created by Bank Polski, responsible for the issue of the new currency. During the year 1924, the activities of the Grabski Government successfully choked hyperinflation and ordered the Polish economy.
About the stamp:
100th anniversary of Władysław Grabski's currency reform
Author of the project: Jarosław Essendzan
Number of stamps: 1
Value: 3.90 PLN
Edition: 128,000 Pcs.
Printing technique: offset
format stamp: 51 x 31.25 mm
Paper: fluorescent
sales sheet: 8 stamps
Date of circulation: 30 January 2024.