Młynarki

The 500 zloty note, so-called "Góral"

Młynarki [mwɨˈnarkʲi] was the popular name for the currency notes of the General Government (part of German-occupied Poland) during World War II that were issued by the German-controlled Bank of Issue in Poland. They were named after the president of the bank, Feliks Młynarski.[1]

History

After the German invasion of Poland and the ensuing occupation, the Reichsbank decided not to introduce German currency there, as it did not want to increase the money supply.[2] Various Polish banks and credit institutions were temporarily closed, while some of their assets were nationalized by the German government. Many people lost their savings.[2][3] On 15 December 1939, Hans Frank, the governor of the General Government, an administrative unit for most of occupied Poland, passed a decree creating a new bank, the Bank of Issue in Poland (Bank Emisyjny), which began operating in April 1940.[2][4] The bank was headed by Feliks Młynarski with the approval of the Polish government-in-exile.[2][1]

The official exchange rate was set at zl 2 for RM 1.[2] The exchange system was meant to boost the German economy at the expense of the Polish economy.[2] The black market exchange rate varied between three and four zlotys to one reichsmark.[2]

The most famous of the notes was the 500 zloty note, the góral ("highlander" or "mountaineer") named after the image of a góral on its front.[1] The note is still popular among currency collectors. Counterfeiting of the currency was rampant.[5] The name was also reflected in one of the actions of the Polish resistance, Operation Góral, a 1943 heist in which the insurgents took over a currency shipment then worth over US$1 million.[6][7] The 500 note was also the standard "unit of corruption"; the minimum bribe that representatives of the occupation authorities required to facilitate the carrying out of illicit activity.[8] In that role, it was immortalised in a popular underground street song in Warsaw, Siekiera, motyka.[9]

The currency notes were used exclusively within the General Government but not the Polish areas annexed by Nazi Germany.[2] They were withdrawn from circulation between 1944 and 1945.[2]

References

1. Gk, Pap. "Tynfy, młynarki, górale – Wiadomości biznesowe – Newsweek.pl". Biznes.newsweek.pl. Archived from the original on 2014-07-14. Retrieved 2014-06-09.
2. Andrzej Gojski, Etapy i cele niemieckiej polityki bankowej w GG. Plany niemieckie wobec Generalnego Gubernatorstwa w latach 1939–1945, BANK I KREDYT, August 2004, pdf Archived 2009-03-05 at the Wayback Machine
3. Zbigniew Landau, Jerzy Tomaszewski, The Polish Economy in the Twentieth Century, Published by Routledge, 1985, ISBN 0-7099-1607-8, Google Print, pp.168–169
4. Jerzy Jan Lerski (1996). Historical Dictionary of Poland, 966-1945. Greenwood Publishing Group. p. 26. ISBN 978-0-313-26007-0.
5. ""English" counterfeit banknote 500 zloty 1940 issued by Bank Emisyjny, commonly nicknamed "mountaineer"". Atsnotes.com. Retrieved 2014-06-09.
6. Stowarzyszenie Pamięci Powstania Warszawskiego 1944. "Powstanie Warszawskie 1944 – Oficjalna strona Stowarzyszenia Pamięci Powstania Warszawskiego 1944". Sppw1944.org. Retrieved 2014-06-09.
7. "Strona 5". Niewiarygodne.pl. Archived from the original on 2014-06-09. Retrieved 2014-06-09.
8. Łukaszewska-Bułat, Irena (2005). Droga powrotna: warszawskie Termopile 1944 : wspomnienia powstańców (in Polish). Fundacja "Warszawa Walczy 1939-1945". pp. 40–45.
9. Res humana (in Polish). Rada Krajowa Towarzystwa Kultury Świeckiej. 2005. p. 12.