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SOCRATES PROGRAMME 2010/2011 SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA

SOCRATES PROGRAMME 2010/2011 SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA . Prof. dr. Z arjan Fabjan čič. SOCRATES PROGRAMME 2010/2011 SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA. MONEY FORMS . Real money Minted money Paper money Credit money.

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SOCRATES PROGRAMME 2010/2011 SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA

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  1. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA Prof. dr. Zarjan Fabjančič

  2. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA MONEY FORMS • Real money • Minted money • Paper money • Credit money

  3. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA cauri shells

  4. METALS: • divisible • homogenous • durable quality • big value in small quantity

  5. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA

  6. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA Lydia, 7. century BC

  7. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA • Ancient device for coin minting

  8. ROMAN MONAY • gold aureus • silver denarius • bronze:  denarius  sestertius  dupondis  as  semis  quadrans

  9. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA Roman ceasars’ money

  10. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA ANCIENT PERIOD • Noric kingdom (3.-1. Century BC) • The big silver coin - tetradrachme • Roman conquest 15 BC New coin - aureus Noric silver and aureus

  11. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA • In 294 A.D. emperor Dioclecian reformed the Roman monetary system • Introduction of the bronze coin – folis • Inflation in the 3rd Century. New mints outside Rome, in Aquilea, Siscia, Milan

  12. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA THE PERIOD OF MONETARY BLACKOUT • After the decline of the Western Roman Empire practically no money • On our territory, only a few Lombard coins were found • Slovenians did not use money in the time of their independence • The Frankish domination and Charlemagne’s monetary reform: 1 (silver ) pound = 20 shillings = 240 pfennigs (pence) (denarii)

  13. On Slovenian territory Frisacher pfennig was minted in 10 mints – Ljubljana, Kamnik, Slovenj Gradc, Brestanica, Kostanjevica, Čatež, Otok, Sveti Križ, Ptuj and Brežice • The end of the Frisacher Pfennig in the 14th Century Friesacher Pfennig

  14. THE MONETARY DEVELOPMENT IN AUSTRIAN HEREDITARY DUCHIES (from the 16th to the beginning of the 20. century) • Sigismund, the duke of Tirol started minting silver coins in 1482 – the pfunders • In 1520, the goldinars started being minted in the town Joachimstal in Bohemia

  15. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA • In 1524, the archduke Ferdinand gave the edict on the monetary order for all Austrian duchies. Tolars, silver halfgoldinars, sestercii, kreutzers and gold dukats were given into the circulation. Gold ducat

  16. In 1760, Maria Theresa started minting coins from the metals of lesser value. • A new monetary convention was reliesed, valid only for silver and copper coins – the Kreutzers.

  17. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA • The beginning of the paper money in 1694

  18. The Vienna City Bank started the first emission of the banknotes – not popular • 1866 the increased cerculation of the paper money – after the war • 1879 the abolition of minting coins for individuals – goldinar became the paper money The banknote for 10 guldens

  19. The Austro-Hungarian Empire introduced (1892) the new monetary unit – the crown, its golden content is determined by the exchange rates • According the act of 1892, the following coins were minted: gold – crown and ducat; silver – crown, silver goldinar and levantine tolar; copper coins- vinars Coin of 100 crowns

  20. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA PERIOD BETWEEN THE TWO WARS • The new state of Serbs, Croats and Slovenians was established • Problems at the monatery policy - 5 different kinds of money • Crowns in Slovenia were sealed to be distingueshed from the Austrian ones

  21. In 1920 the unification of money – crown-dinar banknotes • Slovenians paid great loss due to extremely unfavorable exchange rate

  22. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA OCCUPATION MONEY • Italia joint the region of Ljubljana into Italian monetary system – the exchange commissions • Germany gradually unified the monetary system of the occupied territories with their own – the Reichsmark • Hungary changed the dinars with their currency – pengö • On 12 March 1944, the Slovenian Monetary Instituteje was established by the partizans

  23. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA THE DINAR ERA • Problematic exchange of the occupational money • On 10 April 1945 the new dinar banknotes were given into circulation

  24. On 1 january 1966, the denomination of the dinar – one new dinar was valid 100 old dinars

  25. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA • The state was on the edge of the hyperinflation

  26. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA The coin of the biggest nominal value in history – one trillion Marks

  27. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA THE SLOVENIAN TOLAR ERA • On 8 October 1991, the coupons were introduced as the legal means of payment

  28. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA • The newly designed banknotes and coins were shown in the Bank of Slovenia first in May 1992 at the international designers’ congress

  29. SOCRATES PROGRAMME 2010/2011SOCIO-ECONOMIC DEVELOPMENT AND CONTEMPORARY SLOVENIA • EMU – the next Slovenian objective

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